Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-20
LIVE STOCK PRICES
IN. UPWARD TREND
Decline in Receipts Results
in Firmer Tone in
Market.
BY FRANK /. WELLER,
ArSnciatad prnrc Ea I'm, Editor

Live stock prices are going into the
Christmas week with slight advance
over levels of the last two marketing
periods. That is about the only definite
thing that will be known about values
for several days. Shippers are expected
to further narrow the declining re-
ceipts since the market will be closed
on Christmas day and weaker dressed
meat prices may suffer further pressure
from competing poultry. Before normal
conditions return, the New Year holl-
day will have added to the Christmas
DEPRESSION.
Compared with week ago, fed steers
and yearlings are 25 to so cents higher.
hogs strong to 10 cents higher and
sheep IS to so cents higher.
Receipts Decrease.
The upturns are probably due to
sharply decreased receipts in all
branches since dressed meats continued
their downward trend. Too, live prices
have been hammered for two weeks,
and the recovery made by hogs Is
merely step away from the lowest
point since 1924.
bad fresh pork market this week
worked pork lions so cents to 81 lower at
Chicago, while prices were steady 10 81
lower in New York. The unsatisfactory
receipts were rs per cent lighter.
The top on hogs is about Sl.15 below
the top near this time a year ago, Whlle
medium weight hogs are selling ABOUT
81 30 lower and heavies $l.36 lower,
Pork loins are about 50 lower at Cnl-
cago. indicating that the dressed END
of the trade is suffering more than the
live in current price depression. :,
However, loins represent only SnalI
10 uh
in loinS may be made up in other prod
ucts-probably bacon, which Is Selllng
at a rather fair price.
While some see little chance for much
Improvement in either the i've OF
dressed pork trade until after the first
of the year, it is notable that storage
stocks are 100000 pounds lighter than
a wear ago, although about 100000
pounds heavier than the five-year aver
AGE The greatest drop in storage hold
ings is represented by dry salt pork.
Lard stocks have been reduced about
81 100000 pounds under those OF last
year.
Packers, who recognize their own
fault in advertising lard substitutes on
prospects of larger profits, now are
making a strong appeal for a product
whose market they almost wrecked.
Practically all classes OF cattle
slumped early in the week although re-
ceipts were only moderate. Shrlnkage
in the supply figure after Tuesday,
however. gave the sellers an upper hand
and a keen competition developed to
send prices soaring.
Dressed beef prices closed about steady
in New York but were 30 cents 10 81
lower in Chicago. The price of better
grades Of beef now are about $3.50 to 81
lower than year ago, whereas the price
If choice steers is around $1.82 lower
and the price of good steers around
1926 lower. Heavies are about SLID 10
1925 lower. Again the dressed trade
seems to have carried the largest share
of the depression.
Observers say explanation probably
lies in the decreased purchasing power
of beef consumers and the relatively low
prices for competing meats and sub
stitutes. The cattle market has been an
apparent economic anomaly; unusually
light supplies and relatively low prices.
Many cattle men are wondering whether
the old law of supply and demand has
ceased to function. Supplies at the seven
larger markets were the smallest Tor
any November in more than IA years
and were % per cent smaller than in
November, 1929. With one exception,
receipts at Chicago were the smallest in
more than 40 years.
Sheep Prices.
AS compared with year ago, sheep
prices are about So lower and dressed
lamb prices from $3.50 to 81 lower. AL
though sheep picked up in price this
week the general market is sensitive to
the size of receipts due to the approach
ing holiday trade. Dressed lamb prices
went 81 to 50 higher in New York, but
an oversupply pushed prices down so
cents to ST. so at Chicago.