Evening star., 1933-10-28
HEAVY FED STEERS
DROP TO NEW LOWS
Dull Features of Market, How.
ever, Balanced by
Brighter Ones.

THE following review Of the weeks
e activities on the live stock markets has
ested y t as9 saes
partment Of Agricultural
CHICAGO, october 28 R.-Heavy
fed steers dropped 25-40 cents for the
second consecutive week to new lows,
medium weights and even long yearl-
ings eventually feeling the pinch Of in
elastic demand to a greater extent
than heretofore. The oversupply was
mainly high-dressing cattle. Most out
side points did not get as many fin
ished cattle. comparatively speaking.
and hence made the best price showing,
the maximum decline being enforced at
Chicago and St. Louis. The excessive
crop Of fed steers did not fit in very
we'll with q deficiency of she stock and
a comparatively stable market for
grassers. At least, grass steers quickly
regained early declines, and she stock
actually worked 25 cents higher. Lambs
also averaged higher this week, and
hogs, gamely tried to keep on the win
ming side, gradually advancing 1925
cents. mostly.
Light Cattle Encouraging.
So, the dull features of this weeks
live stock trade were in q measure bal
anced by the brighter ones. The man
ner in which all interests bought light
cattle was encouraging and in sharp
contrast with the unreliable demand
for heavier weights.
The fact that q small killer paid
$675 for an odd lot Of prime 643-pound
heiferS at Chicago. when 1,344-pound
steers of comparable finish could not
beat $6O5, shows the relative price po-
sition Of these two classes. BullockS
averaging 1,511 pounds sold finally at
$5.35, but heifers not nearly as fat SELL
ing at $550$5.75.
Lightweight steers were never with
out reliable outlet Throwing out show
steers with reputation which sold up
ward to S6.75 at Kansas City, this weeks
practical steer top was $3.50. paid early
at Chicago for 1,052-pound weights.
outside price for anything scaling in
excess Of l,l00 pounds. The supply Of
fed steers OF practically all weights
simply became too large for killers to
handle.
The strength in she stock traced to
dwindling receipts at all centers and
some contraction in the movement OF
grass steers from the Virginias and
Northwestern ranges. An early decline
in stocker and feeder prices stimulated
country buying to the extent that losses
we're largely restored. Kansas, South
Dakota and Montana range steers seal
ing l,000-l,250 pounds brought So
S375 at Chicago on slaughter account,
the outside price also taking 950-pound
feeders with others averaging around
900 pounds at S3.75-s4. Grassy and
warmed up steers sold at $3-$4.50 at
all points. the late practical spread for
fed offerings being S5.S5.75.
Hog Prices.
The advance in the hog prices was
reflected by weights above 200 pounds.
The top dipped to s4.4o at Chicago on
Tuesday, the lowest since May, but the
market soon rallied. $3.50 being paid
sparingly late The bulk of desirable
2oo-27O-pound butchers closed at $3.50
s4.55, with 14O-1eO-pound weights
largely S4.25-S4.50 at the same point.
Lamb buyers followed the early ad-
vance reluctantly. because supplies did
not afford the opportunity to keep their
operations in line with dull dressed
outlet Before the late reaction rangers
brought $3.50 at Chicago, this price be-
ing supplanted by 81.