Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-08
LIVE STOCK PRICES
NOW At HIGH MARK
Cattle Men Fear Recent Up
turn Will Cause Heavy
Shipments.
BY FRANK !. WELLER.
Associated Press Farm Editor.

Cattlemen are facing this week
proverbially "afraid to breathe" lest
the country load out rather freely on
the strength of a sizzling market and
break or check the broadest upturn in
values this year.
AS active as it was slow a week ago.
when general price levels were the
lowest in 20 wears, the market closed
with so to rs cent advance on weighty
bullockS, while light steers and year
hngS climbed SO cents to 81 rs, mostly
81: Light heifers and mixed yearlings
led the upturn, the high time coming
at the close. The gain on medium
weight and weighty steers fell off Is
TO 70 cents in the late sessions, but
the average cost of the crop showed
a total advance of so cents.
Markes factors.
The unexpected market resulted from
the combination of smaller runs and
the fact that price levels apparently
were too low on last weeks break. The
latter factor probably had more to do
with 1t. since the upturn came in the
face of only 1000 fewer cattle at Chi
cago and but $4,000 less at the II big
markets.
Even figuring the late downturn on
heavy cattle, there still is a strong I'M
dertone in the market and trade
opinion favorS the belief that a run
as large as 10000 or 1900 head at
Chicago may not materially affect cur
rent price levels. While such a run
might check the advance, even on light
cattle, fairly healthy market at
nearly as high prices as were being
paid at the week end is anticipated.
unless there are 10000 or more head
of cattle at Chicago on Monday
That easily could happen, since feed
nd
to take advantage of the first bright.
spot in the market. The way weighty
steers slumped at the close of the week,
simply because there were more of them
around, may be suggestive of the turn
values might take if supply figures are
materially increased next week. The
advance has been so sharp that some
said the country might load out rather
freely.
1t is we'll to remember that the buy
ing side has an old program of support
ing market which had worked en-
tirely too low week earlier, but is
just as easily scared off when values
advance. While buyers were attracted
by the extremely low prices and the
fact that dressed steer meat advanced
so cents to 81 wholesale at Chicago,
the trade still is erratic and coolers are
still groaning with beef All interests
might not compete so freely if some of
the price-making surplus, absent this
week, comes back into the market.
In-Between Season.
This is the in-between season on cat
tie, time when fed stock slackens in
supply and the run-of-grass cattle, eX-
cept for some Texas steers, is a few
weeks away. Prices are still lower than
the high time of the season. previous
declines having taken off more than
this weeks upturn brought back.
One of the factors the country is
studying is the fact that about $50, 900
fewer replacement cattle have gone out
since the first of the year than for the
same period in 1890 and that mean
while a glut of fat steers and yearlings
has been crowded onto a progressively
lower market. The assumption is that
these big runs of fat cattle necessarily
will begin to play out before long and
that using this weeks activity as a
criterion, killers soon may be looking
for some of the same kind Of cattle they
have been ignoring.
Material reduction in supplies is the
main buoyant element in the hog mar
ket, although there has been consider
able improvement in the pork division
and lard trade to further enhance val
ues. Price spreads are the narrowest
since December, due to fewer heavy
hogs, better lard trade and a ship
ping demand too narrow to absorb the
lighter weights.
Range Of Upturn.
The weeks uptu~n ranged from IS to
35 cents. with the greatest gain going
to heavies The top on hogs advanced
80 cents. Normally it does about this
time although best advances come
along toward September after the May
and June shipments of Fall pigs ease
off
The seasonal downturn seems to have
caught lambs, practically all grades
losing so cents in the weeks orderly
but we'll defined decline 1t is a time
of heavier receipts, with the range
movement under way.
Fart of the break may be attributed
to the unwieldy shipment of directs
Al 900 head going to Chicago packers
on direct consignment against $4,000
to the open market. The percentage of
nearly 3 to l gave packers chance to
withdraw from active competition.