Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-24
live STOCK PRICES
REMAIN IRREGULAR
Drop in Hog Values Laid
to Excessive Feeding.
Steers Cheaper.
BY the Associated Press.

By the Associated Press.
The wide price spread between lear
and fat hogs, now about $1.15 per 10C
pounds in favor of the former, raises q
question whether farmers might fare
better by turning less feed into pork.
G. B. Dsnman, Farm Board member
representing live stock, says it would
appear advisable for the Western corn
belt feeder who has surplus stocks OF
cheap grain on hand either to feed
such grain to Fall pigs and market
them at lighter weights this Spring and
early Summer or to save such grain to
force early Spring pigs for early Fall
markets
Low-priced grain has caused many
farmers to overfeed their hogs, not
withstanding the average housewife re-
fuses to buy overfat pork cuts. The
New York City wholesale price of heavy
loins dropped So per 100 pounds be-
tween December and February, while
bacon and lightweight hams dropped
only $3.50 to 3d. Prices of light hogs
have remained around SO per hundred
weight at Chicago, while heavies fell as
low as $3.50
Average Weight.
The average weight of hogs received
at Chicago has been running from to
z pounds heavier than a year ago.
These overfed, fat hogs make lard-and
the foreign demand for pork and lard
Is far below normal. Exports in Janu-
airy indicated a 81 per cent decrease
from year previous. Domestic stor-
age holdings, which on October l were
the equivalent of 100000 hogs smaller
than a year earlier, were completely re-
verSed by February / and showed an
increase equivalent to 81 900 hogs above
O year ago.
February slaughter Of hogs has been
about per cent smaller than last year
and still prices are going down. Re-
ceipts at IL principal market were al
most 10000 fewer this week than last,
but the price of all weights sank to the
lowest level since 1924.
The Lenten season undoubtedly had
its influence on pork as on other meats.
Dealers bought cautiously, the reduced
demand resulting in lower and slower
set of markets.
However, there is a deeper factor.
Market supplies of hogs during the last
three months CT 1880 were 9.5 per cent
lower than for the same period in 1929.
They had been expected to be heavier
then and lighter in January. But jan
uary slaughter was z per cent greater
than a year earlier. This caused many
packers who had bought heavily early in
the season to cheaper their purchases,
driving live prices down at time when
Q seasonal advance reasonably might
have been expected.
Light Hogs Fewer.
Right now the number Of light hogs
In the country is relatively small. There
are not enough. 1t is believed. to cause
an extraordinary run If farmers were
to liquidate and save their feed for
Spring and Fall pigs. Smaller market
ings are in prospect for the Summer
and, theoretically, better prices.
While strictly good and choice
weighty steers held their own last week,
lower grade heavies and about all light
steers and yearlings took q IS to so
cent cut under the previous week. The
bulk Of fat steers sold at the lowest
point since 1924. A slow retail business
forced steer meat $50 lower on New
York wholesale markets and so cents to
81 lower at Chicago. There is direct and
almost simultaneous relationship be-
tween the strength of consumer demand
for beef and the price of cattle.
The consumption Of meat and lard
has been declining. Last year the es-
timated average per capita consumption
was Beef, so pounds; veal, pounds
pork, 20 pounds; lamb, ga pounds, and
lard, ID pounds. It has been higher
than that in other years, but, from
current purchases, seems likely to go
even lower in 1881 unless the con-
sumer's purchasing power increases
soon
Strength stu prevails In the sheep
and lamb market. Lamb was of only
so cents at Chicago and was mostly
steady to 81 lower at New York this
week, while other meats were tumbling
before curtailed Lenten demand. The
live price Of fat lambs was steady, and
sheep were strong to IS cents UP.
Explanation seems to lie in the fact
that while sheep and lamb numbers