Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-29
live STOCK PRICES
CONTINUE DECLINE
Steers and Hogs Have Re.
coded Steadily During
Past Week.
BY FRANK 1. WELLER.


Prices within 10 cents Of the lowest
paid in so years would seem to have
put Chicago hogs in line for Improve
ment on the first curtailment of sup
plies.
Values have been sinking now for
eleven consecutive weeks and 1t ap-
pears the average price will be around
$500, compared with So at this time
last year. What that means back, in
the country may be seen In a South
Dakota report Of one instance in which
the farm price Of hogs sank to $l.90
for 100 pounds.
While a weaker fresh-pork market
operated against hogs, expanded re-
ceiptS constituted the main bullish fac
tor. The aggregate run at the IL big
markets was nearly Is per cent larger
for the first four days of the week than
for the same period a week earlier.
Chicago paid closing top Of S34O as
the market slid of 10 to IS cents The
to 10 cents break at East St. Louis
carried values to the lowest in SO years,
the bulk Of hogs going at $40 to 1920.
Lowest Top Since 1880.
Kansas City declined is to 20 cents
to establish the lowest top since the
$295 paid in 1880. A similar top Of So
was recorded at Omaha, where the
market was steady to 30 cents lower.
The May hog slaughter is running
around ID per cent heavier than it did
last year. but current arrivals of more
unfinished hogs are interpreted by
some members of the trade as a clean
up process, indicating the peak of the
Spring movement. Last year that peak
was reached a week earlier and the
Summer low developed the following
week
Thus. it is argued, If this or next
week marks the peak movement, read
lustment upward should not be so far
away considering such low prices and
indications of better shipper interest.
Although the wholesale of pork cuts
was at the lowest level in many years
at New York, pork loins advanced so
cents to 81 at Chicago, with trading
fairly constant
The cattle market shows little change
from a week ago, when it executed an
about-face in trend. Mondays run. the
biggest at Chicago since the middle Of
January, had depressing effect all
week, but some traders believe it was
the last extreme of the season and
that weekly receipts likely will be con-
siderably smaller from now until the
Fall runs of Westerns start coming.
The argument is that Nebraska is the
last of the big feeding States with a
liberal supply left and that it will do
well to keep going another month, that
because OF the worst feed conditions in
history South Dakota will not be much
nf oofo hat 1th
which ordinarily have fed cattle on the
Summer market. will show decline be-
cause of last Falls light purchase of
stockers and feeders.
Steer Beef.
1t was recalled that at this time last
year the cattle market made its low
point, the average price Of steers at
Chicago standing at $3.50. compared
with s603 last week The bulk sold at
S5,25 to 81 this week. indicating an av-
erage slightly above a week ago. Most
choice steers Of all weights sold at 81
and up. Fed steers and yearlings were
steady to IS cents higher at Kansas City
and mostly steady with week ago at
Omaha and East st. Louis.
Steer beef had one of the worst weeks
in recent history at New York. and veal
was practically demoralized, but Chi
cago wholesale prices were so cents
higher on steer and steady to 81 higher
on veal
Dressed lamb dropped 81 to 50. but
live prices were not seriously affected.
The fact that old crop clipped lambs
recently had sold the lowest in years
explained a IS to so cent advance at
Chicago. Spring lambs, continuing to
run freely, lost 10 to Is cents. Prices
advanced variously Is to so cents at
Kansas City. Omaha and East ST. Louis.