Evening star., 1932-03-27
LIVE STOCK PRICES
DECLINE SHARPLY
Sudden Large Supply of
Steers and YearIings De-
presses Market.
BY FRANK 1. WELLER,

There is some question whether the
further depressed live stock market,
particularly at Chicago, is indicative
of underlying conditions.
The beef steer and yearling market
was sailing along smoothly the first
two days of the week, serenely riding
an upward price wave that had all
the characteristics of buoyancy, when
all Of a sudden an unexpected supply
deluge Swamped the market.
AL grades Of weighty steers closed
around 25 cents lower than a week
ago and common grade steers of all
weights showed weakness, while the
rank and file of medium weights and
lights slumped rs cents. The market,
however, was active at theFend and
indicated that except for the unfortu-
nate effort of finishers to crash in on
anticipated advances the general price
level may not have been so bad.
Receipts Delay Upturn.
Values have been dropping for two
weeks, with the bulk of heavieS selling
at $3.50 to SITS and the bulk of year.
ling and light steers going at $3.50 to
SIPS. Seven cents a pound on the
hoof is regarded as entirely too low
at this time of the year and advances
might reasonably be expected If the
country were to cut down on receipts.
Although the dressed market did not
warrant any advance In live values and
the advance there was mostly a forced
affair, shipping orders showed expan-
sion and Eastern killers evidently are
figuring on an enlarged consumer de-
mand following the Lenten period. De-
mand continues the best for heavy and
common grade steers. Shippers seem
to have enough orders to care for mod
crate aSSortments of better grade fed
steers and yearlingS, and the market
for them has shown the power to move
up to a basis fully as high as any of
the recent price wave crest If animals
are not forced into the pens.
1t is hard to gauge the stocker and
feeder movement, since the snowStorms
allowed only few buyers to venture
forth. It was noticed that prices were
stronger, while killer demand was on
the increase and Sympathetically lower
toward the close and about in line with
last week.
Likewise, hog prices seem to be strain
ing for higher ground. Last weeks de-
cline had been almost recovered when
Chicago prices sagged Is to 25 cents
under heavy run and lack of orders.
The fresh pork market strengthened
early, but prices dropped unevenly, and
closing values were only slightly higher
than week ago, while those at most of
the Eastern centers were somewhat
lower
The late top was down to $465 COM
pared with $3.50 paid earlier, and the
bulk of the good to choice had to go
at S440 to $4.45 on 140 to 210 pound
weights.
Other Prices.
Pigs and some of the light-ightS were
little, if any, lower than a week ago,
and packing sows showed a Scant
10-cent loss. Although the hog demand
ruled slow and price improvement was
limited, it was considered quite prob
able that smaller receipts might see an
upturn after the Easter slaughtering
holiday
This same Easter demand for lamb
proved more mythical than real, and
better grade lambs continued to drift
in the face of the smallest four-day
run offered at Chicago this season.
Choice lambs were harder to move than
in-between grades, which got country
support and brought unevenly higher
prices for thin lambs despite declin-
ing fat market
Springers drew down $40 to $11 as
the origin of supplies shifted to the
West and Southwest. Lambs out of
Colorado, Wyoming and Nebraska. feed
lots and carrying considerable finish,
predominated. To a large extent the
general weakness on foot was typical
of dressed markets throughout the
country.