Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-02
LIVE STOCK PRICES
IN F|RMER TREND
Values Return to Former
Levels After Week of
FIuctuation.
BY FRANK /. WELLER,
Associated Press Farm Editor

Except for temperamental moments
when receipts pile UP, 1t begins to lool
as II it were going to be pretty hare
to get cattle and hog prices any lower
this season.
Values have no hesitancy whatever
TO drop now and then, but they always
bounce right back. Sometimes the re-
bound carries them beyond the start
ing point. When the market takes or
the tactics of rubber ball it is q
rather safe bet that 1t is dancing on
o solid foundation.
Despite an extremely nervous week
which carried all classes of cattle un-
evenly lower and sent common and
medium steers and most good-grade
offerings to a new low point for the
season and the lowest in years, prices
again are in line with those of week
ago. The very best long-feds with
weight were higher than last August
Heifer yearlings and butcher heifers
were IS cents higher than a week ago.
Common and medium grade steers lost
most in the break and consequently
came back the fastest.
Abrupt Recovery.
Although the lowest top on hogs for
the current trading period was lower
than a week ago. the average selling
price failed to dip as low because of
the narrowed price spread between
heavy and light weights and the mar
rover margin between the top and ay-
erage cost.
Prices which receded early in the
week scored a rather abrupt recovery
on supply abridgement, which left
prices on heavies rs to 40 cents higher
than a week ago. Lighter weights
finished about steady. Packing sows
made 10 to Is cent advance.
Bearish influences which have been
accommodating for weeks forced the mo-
mentary downturn in cattle, despite the
small runs. The downturn was fol-
lowed by starvation supplies, which had
the immediate effect of building back
the decline. Right now there is not
much of an undertone in the trade,
although chances seem good for some
improvement in dressed beef circles.
AS opposed to this, however, is the
prospect of larger receipts. Approx
mately 10000 head of cattle were held
of the big markets to force the current
upturn, and they naturally may be ex-
pected to be eased back within the
next few days.
The killer market" which developed
early in the week was aided and abet-
ted by one of the most narrow and
restricted feeder markets of the year.
Although stocker and feeder dealers
operated cautiously, the clearance of
replacement stock has not been COM
plete. There is no immediate breadth
In country buying, the most attractive
prices in months failing to interest
prospective finishers except in a very
meager way. Since fat cattle started
their February break, replacement buy
ing has fallen off considerably. Febru-
airy sales were about 20 per cent un-
der year ago.
Fewer Hogs for Sale.
The week closed with fewer hogs left
for sale to local killers at Chicago, due
to decreased receipts and heavier ship
per buying In theory, at least, that
would make for better prices.
Too. the PERCENTAGE Of heavy hogs, as
compared with lights, has been de-
creasing. This is taken by many in
the trade as a sign Of supply depletion,
q bullish factor, which is partially on
set by the general economic situation