Evening star., 1931-06-22
LIVE STOCK PRICES
CONTINUE Strong
Rapid Gain In Hog Values
Proves Feature of Re-
cent Market.
BY. FRANK L. WELLER,
Associated PreSs Farm Editor.


The sensational rise Of hog prices to
the highest general level since late In
April featured the last live stock
marketing period, but the continued
strength in cattle was Of no less sig
nificance.
The latter, in fact, probably demon
strated the stronger undertone, con-
sidering the market absorbed 10000
head more than the week before and at
practically the same prices. Even a re.
currence Of the traditional price-break-
ing Monday run of 20, 900 head at Chic
cago could not batter down the strength
OF light steers and yearlings, and gen.
eral values closed about in line with the
middle of May, Just previous to the bad
slump which sent values to the lowest
levels in 20 years.
Range Stock.
While, seasonally, the country's sup
ply Of fed steers would be low, there Is
a question how long the market can
Withstand the liquidation which has
followed the two weeks in which cattle
finisherS held back while the dressed
trade worked of its accumulated stock.
There Is sufncient scarity Of fed
cattle to keep prices on that class from
slipping back. Range stock is coming
to market in better condition than US
ual, but until consumer demand i'm
proves the trade is not much inclined
to pin its faith on the current strength
Of cattle showing grass of overweight.
The dressed beef market reported an
active and firm trade on light-weight
careasses. but the so to rs cent slump
In heavy carcass beef was reflected in the
live markets close 25 to so cents under
the high time last week on medium and
heavy steers. Drylet material received
good action and firm prices in the
butcher-stock market, while grassy
kinds were Disseminated against, a
usual occurrence around the middle of
June when the readjustment starts
from cornfed to a grass basis.
Marketing Of cattle has been some
what heavier this year than last, but
1880 was a light year. In all, both
the supply and the offering of cattle
Is below normal. The sharp drop in
cattle prices, estimated at $3.50 per
hundredweight, or A. per cent, in the
first Az months of the year. is credited
primarily to the general weakness in
consumer demand.
BY the last week in May most kinds
of cattle were selling at the lowest
levels since 1911, the wholesale price
Of choice beef dropped from 18 cents
a pound in New York during January
to less than l3 cents the first week
in June and at the end of May the
New York retail value of beef that
could be obtained from 100 pounds Of
good-grade live steer was S4.34 less
than on the same date lost year.
Hog Prices.
The upturn Of SO to rs cents in hog
prices on the heelS Of two weeks grad
ual gain was credited primarily to
continued light receipts. There were
about 25 per cent fewer hogs received
at the II principal markets than for
the first four days of the same week
year ago.
Receipts were a little heavier than
last week, but the effect was discounted
because supplies already had been cut
below trade requirements at that time.
! The price advance was partially due
to light loadings for two or three weeks
and suggested that values previously
had been forced too low.
Top-grade hogs seem capable of hold
ing their gain, but extreme weights and
packing sows are a little slow. HeavieS
got only a 25 cent upturn and only
light packing sows were at the tall end
of the IS and 40 cent increase. As
last year, packing sows now are run
ming about 80 per cent Of the total
receipts.
The current decline in sheep and
lambs has continued with renewed vigor,
ell grades and classes pushing into new
| low ground as supplies increase. The
market progressed downward at a So
cent to 81 clip for the second con-
secutive week
To illustrate the severity, choice
range lambs, comparable to $10.50 kinds
early in June, sold at Chicago for $8.25,
and on the New York wholesale mar
KIT a 50-pound mutton carcass could
be bought for $l-the lowest price
recorded by the Department of Agri-
culture since 1892.