Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-10
BY FRANK I. WELLER.
Associated Press Farm Editor.

Dipping in sympathy with accumu-
lated receipts and hot weather, cattle
prices may have reached the end of
their sharp upturn, and for the next
several days may idle along until the
character of supplies becomes better
established.
There have been few times when Of
ferings ran so contrary to precedent.
Only about 10 per cent as many fin
ished steers came to market this week
as for the same period year ago. At
Chicago choice steers numbered 1874
head, as compared with 1000 in 1929,
and good steers dropped from $4,000
head to 5000. On the other hand,
common steers totaled $500, whereas
there were but Adj offered last year
during the same time.
Despite the shift in makeup, steer
receipts were about the same-21 1866
last week and 21,949 year ago.
High Prices Last Summer.
The change is explained in part by
the fact that lower grades of beef cat
tie sold UNUSUAL high last Summer,
reaching q top of S1250 on June 81,
and feeders were encouraged to schedule
the same kind for slaughter this Sum-
mer. The scarcity Of corn was q con-
tributing factor. Prices now are around
SO go, as compared with $11.80 for the
same time last year.
Too many cattle have not been in feed
lots for sufficient time to carry a nor
NAL finish. A larger proportion of
light weight low-grade cattle was fed
| this season and there has been tend
ency to utilize more roughage and a
lighter grain ration. There has been a
marked effort to liquidate holdings and
in some cases to advance the marketing
date. Frequently cattle could not be re-
| financed, condition which has forced
many cattle on the market which origi-
nally had been started for late Sum-
mer or Fall markets
Although CRASHED stock soon will be-
come abundant. finished cattle are ex-
pected to be we'll represented at least
until Fall. An eight-year average shows
that IT per cent of Chicago steer re-
ceiptS during June are made up of fin
ished animals. They totaled $4,000 head
| in June, 1929
July has been the best month Of the
year for finished cattle receipts and the
| poorest for common stock. Numbering
| $4,000 head at Chicago last July, the
former usually run around 81 per cen
! of steer receipts there and hold
strong but slightly lower percentage or
until November.
The fact that fewer CRASHED cattle
are expected from the Southwest thi'
year may tend to strengthen the mar
/ ket for medium grade cattle.
Grazing Cattle.
With the continued poor demand fol
! feeding cattle and the relatively Low
level of stocker and feeder steer price.
| for this season, some economists BELIEVE
the situation during the next few
months may be quite favorable for thu
purchase of cattle for grazing or fin
ishing out on a corn ration for TIT
late Fall and early Winter markets.
The supply fsuch cattle is expected
! to be considerably less than at thi'
time last year, and with the possibility
! Of improved consumer demand for bee
and of relatively low corn prices mex
Fall, fat cattle that necessarily mus
be marketed durir" e next month
! or two might pr bly, be replaced
| by correspond yly lower price feede,
animals for Fall and Winter slaughter
A weaker wholesale beef trade haC
a part in hating the two weeks stead,
rise in live prices. Compared with
week ago, steer beef was so cents lowe
to so cents higher at New York, Gov
beef so cents lower and veal SO to S.
lower. Early demand at Chicago wa
followed later in the week by a hot
weather slump and failure of tn
kosher beef trade to rally after thu
holidays. Many sharp price conces
sions we're made to close out cars.
AS a result of combined factors, cat
tie prices stopped their almost per
pendicular climb when they had risel
from 80 cents to 81 above the new Low
levels of the season which came sud