The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1926-08-13
The Sheep and Wool Outlook

ditions promise abundant feed sup
plies and no forced marketing be-
cause of lack Of feed is anticipated.
Supplies of slaughter lambs for the
next half year will be larger than
for the corresponding period Of 1925.
It will, however, depend to a con-
siderable extent upon the feeder de-
mand. With a large supply Of feed
ers, it seems likely that heavyweight
lambs will be Disseminated against
and that many such, bought by feed
ers buyers last fall, will go to killers
this year.
Consumers demand for dressed
lamb during the first half Of 1926
continued at the same high level that
characterized 1925. This is ascribed
to the high prices for other meats and
the active business conditions. In
creased quantities of lamb were on
sumed at dressed prices averaging
only slightly below those of last year.
On the other hand, the price Of live
lambs averaged about $1.50 below
that Of 1925, due largely to lower
pelt values. The fact that there has
been a concurrent weakness in the
whole price level makes it seem prob
able that in the next u months there
may be some reduction from the high
levels of the last year and a half.
Factors that may influence un-
~favorably prices for the 1926 lamb
crop are the indicated increase Of 10
per cent in its size, a probable down
ward tendency in hog prices next
spring, and a possible slackening in
business activity. Favorable factors
are the prospective reduction in cat
tie slaughter for the next year, and
high hog prices through 1926. If
the indicated increase in the crop re-
suits in a 10 per cent gain in lamb
slaughter, a 6 to 10 per cent reduc-
ton IN the average price of slaughter
lambs from the average of the last
II months should not be unexpected.
Wool
Prices of wool ait London, which
had been declining since 1924, have
become steadier, and for the last few
months figures for the finer grades
have been fairly stable. In 1925 the
wool production, as estimated by the
department Of commerce, was about
2 per cent larger than in 1924, but
stocks in both producing and con-
Stunning countries are generally re
ported to be lower than a year ago
The total number of sheep in the 1C
countries reported in 1925 was 5 pei
cent larger than in 1924 and z pei
cent below the preWar level. Will
present unfavorable conditions IL
Australia and other southern hemi
sphere countries, there are no indica
tons that the 1925 wool production
viii be any larger than that Of 1926
Wool prices in the United States
after strengthening somewhat durini
the final quarter Of 1925, droppe,
materially in the early part of thi
year. In June, average Boston price
for various grades Of grease WOO
ranged from 4 to 8 cents below thos
of a year previous. Domestic WOO
prices at present are materially be
low London figures plus the tarif
ldifferential. Domestic wool manu-
featuring, which showed some ID
crease in activity late Ia 1925, droT
ped off IN the early months Of 192
pa until in May it was nearly a. low a
.p- in midsummer Of 1924, the lowe.
ne point IN three years. Recent report
n- however, indicate sons increase Z
ey activity ~ June
While domestic stocks Of wool ai
rs somewhat larger than a year ag
they are nct b~urdensome. The 81.
wool clip IS this csy was eboI
5 per cent gEeater chan IA 1928. 5.
domestic production has only 8
ef1ect upon domestic wool price
World wool rrice toe level et