The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-11-24
DEPRESSION ABROAD
UNAVOIDABLE; ALSO
EXPORTS BY RUSSIA
On Other Hand, Canada Will Be
!. Tied Up by Freezing OF
. Lakes for Season
CATTLE SLUMP CONTINUES
Many Feeder Type Shipments
-, Absorbed by Packers; Re-
: .covery in Sheep
CATTLE SLUMP CONTINUES
BY o. Nj. FULLER
North Dakota Agricultural College
Marketing Specialist

Farmers in North Dakota naturally
are asking the question, has the bot
tom been reached in the wheat mar
ket? And, If so, will the general trend
be upward during the next few
months?
The favorable factors at this time
are an early beginning Of a decline in
the visible supply of wheat in the
United States; the prospect OF check
ing the movement from Canada by
the freezing of the Great Lakes within
a few weeks: the small supplies Of
old wheat remaining in the southern
hemisphere; and the fact that the de-
Ginning phase of the business depres-
sion has continued longer than usual.
Continued exports from Russia, large
supplies of new wheat to be harvested
during the next few weeks in the
southern hemisphere. and a likely con-
tinuation of depressed business con-
ditions in foreign countries may tend
to check any marked advance in wheat
prices.
During the past week wheat prices
advanced slightly, due to certain in
terests buying on a fixed basis, the
possibility of rust damage in Argen-
lima, and an increase in mill buying.
There vas also a reduction in Russian
offerings. No. / dark northern closed
at, Minneapolis Friday at 1875 to 76H.
This was 3 cents higher than the close
on the same day Of the previous week,
but was 5 cents below the close on
the same day last month, and 54 cents
below the closing price on the same
day q year ago. Feed grain prices have
tended to follow wheat prices. Flax
and rye prices have also advanced.
The cattle market last week was q
sellers market at the start. but before
the week ended it had turnd into a
buyers. market; early upturns were
erased and additional downturns en-
forced. Weighty offerings have been
penalized at every turn, especially by
finishers. compelling packers to alb
Sorb many cattle that would normally
60 to feeders at this season. Receipts
Of range cattle have declined, indi-
eating the movement from western
ranges is drawing to a close. Prices OF
long-fed yearlings have been around
$3.50. A number of cars Of quality
light yearlings have sold for $40 on
the South st. Paul market, the bulk
selling down to $3.50.
The unusually heavy receipts OF
hogs last week ran into a depressed
pork market and resulted In a sharp
break In hog values. The So quotation
disappeared from the market and
prices declined to the lowest level
since 1924. On Thursday and again
Friday the market strengthened and
was fairly active, the bulk Of lights
and butchers going to packers on the
South st. Paul market at SITS pei
hundredweight.
The movement Of sheep and lambs
to market has declined. and prices
worked higher during the latter part
Of the week. Last Monday the bulk o.
desirable eve and wether lambs
cleared at st. Paul around 81. but
had increased to SITS by Friday.
With the present low level Of bust
ness activity, the movement Of butter
into consumptive channels has beer
slow. Production is expected to remain
about the same as long as the presen
relationship exists between feed ant
butter prices. Cold storage stocks wer'
20 per cent below Q year ago on No
vember /. The price Of 92-score butte
at New York is now about "a. cent
per pound. This is 3 cents below tn
price q week ago.