Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-17
live STOCK PRICES
|. IN UPWARD TREND
Scarcity of Supply Acts as
Incentive to Rising
Values.
BIZ FRANK /. WELLER,
Associated Press Farm Editor.


Supply shrinkage is making itself felt
in the cattle market. It is almost I'm
possible to ind weighty bullocks grad
ing choice. while steers and yearlings
Of value to sell at $3.50 upward are
hardly numerous enough to merit atten-
ton. Long-fed steers, as compared
numerically with short feds. are insig-
All this would seem to merit better
prices-and, In way, it has. After
selling of early this week fed steers
and yearlings staged q comeback which
placed the market steady with q week
earlier. Active and aggressive buying
featured the trade until the closing
rounds, when the market became top
heavy.
Dressed Trade.
Still there can be little more than
mild upturns until the dressed trade
improves There have been sharp price
recessions at Atlantic seaboard markets.
On the live market supply figures make
for higher set Of prices, but consump-
tive demand, as reflected in the dressed
trade, exerts weakness. At least It calls
Tor caution In the matter Of elevating
live prices. This apparent conflict be-
tween scarcity on the one hand and a
droopy dressed trade on the other has
been featuring the market for several
months.
Current supplies on II markets have
neen running about 10 per cent smaller
than q year ago, rejecting a reduction
in the number of cattle on feed. From
now on short-fed heavies must provide
about all the weighty beef that killers
get hold Of AS the supply Is rather
limited as measured by demand. even
the lower grades are expected to sell
relatively high and considerably bet
ter than comparable light offerings,
NO small part Of the uptllrn on COM
mon and medium steers is due to the
scarcity Of, and fairly broad local de-
mand Tor, stocker and feeder steers.
6uylng Tor replacement account q re-
ducing the supply of Iow-grade killers.
AT Chicago, replacement cattle are
Scarcer than any time previously this
SeaSon-hence active buying on the part
OF yard traders has raised prices as 10
10 cents, which in turn has slowed down
country buying to point where closing
prices are top heavy at the advance.
Hog Price Range.
The influx Of light heifers has de-
pressed prices to a point where these
little cattle appear relatively cheau COM
pared with light steers. HEAVY heifers
have advanced to $11.50 and sig, which
merely reflects killer demand for finish
ed steers rather than heifers.
Inc price range on hogs was further
expanded this week when lightweirlifs
advanced slightly due to a diminished
supply while heavies worked lower be-
cause Of an increased percentage OF
such weights. -
Hog receipts at Chicago for the first
four days of the week ran around 40
per cent larger than year ago, while
the increase at the IL principal mar
kets was per cent In comparison with
week earlier and more than 10 per
cent over q year ago. Direct REGENTS.
5000 head heavier than a week acc. saet
new record at Chicago.
The Chicago fat lamb trade has be-
come scene Of activity again after
rather d1scouraging week. Since the
nigh point week ago Wednesday prices
mad previously worked consistently
downward and naturally rather stable
| losses were uncovered While at r1ne
time so to rs cents lower, the ynafIet
has worked out about rs to SO cents
down for the week. -
Too Many Shipments.
According to a concensus Of blyiIlr
opinion the immediate cause for the
upset was too many lambs in consurnp-
i've channels East, having been shipped
freely, both live and dressed. To A cer-
tain extent the Chicago dressed market
continues to defy the trend 81 i've
prices. But. regardless Of the why and
wherefore, the live trade dropped when
receipts were big and it dropped wher
receipts we're small until clrtailed load
ing seemed to take effect,