Evening star., 1933-05-14
LIVE STOCK PRICES
SHOW SHARP GAIN
Speculative Buying of Lard
Makes Hogs Leader in
Market.
BY FRANK I. WELLER,
Associated Press Farm Editor.

ASSOCldCeQ fIeSS FdIm E0ltOI.
Speculative buying of lard has made
q market leader Of hogs, as all live
stock values continue to score impress
sive gains.
Porkers advanced IS to so cents
around the circuit Of principal live
stock markets, the Chicago top reaching
$3.50 at one time to establish a new
high since last September and outdo
the March peak by 40 cents. Heavies
were very active at s4.55 to $4.60, the
average price of all hogs for the week
promising to go to $3.50, compared with
81 last week and s295 tor the CORE
spending week last December.
Extent of Advance.
Meantime, lard has made an almost
so per cent advance since late In Feb
ruary. rising from s4.88 to $7.38 on the
hundredweight. Authorities said there
had been no improvement in the export
outlet and attributed the rise to the
general imitation Of speculative COM
modities.
The size Of receipts was not much Of
about % per cent larger than for the
corresponding week last year. April
slaughter was 3.6 per cent larger than
April last year and was the third larg-
est April slaughter on record.
Chicago reported decidedly bullish
undertcne in fresh meats as prices ad-
vanced in almost everything except veal
and calf meat. This is the time of
year when vealers run in large num-
ber through the sale of undesirable
dairy calves and hoof values declined
so to IS cents. Steer meat advanced
25 cents on the opening session and
held it. Volume was not up much in
the dressed trade, but firm prices were
interpreted as rejecting little better
employment situation.
Fresh meat prices are definitely
geared to the country's consumptive
capacity and observers said it appeared
the people were getting little more
money and spending little more for
meat. New York said the retail meat
trade showed some improvement with
prices advancing in about all classes.
Although supplies increased they were
cleaned up better than week ago.
Cattle sold to all interests in lively
fashion. shipper competition carrying
the general price level on all except
good to near choice light steers and
light yearlings to the highest levels on
the crop
The March peak has not been REIN
stated yet. but the weeks cents ad
vance on fed steers and long yearlings
put the extreme top at $715 at Chi
cago, with S725 quotable whenever
highly finished offerings are available.
Little in the run passed $6.25 for lights
or $6.35 for heavies.
Sheep Higher.
Long fed weighty bullocks ran rather
literally as measured by trade require
ments and shippers who went short
early fought the market on better
grades until supply abridgment threw
all interests into excited bidding, the
competition having the natural result
of boosting prices all along the line.
Observers said the psychological ef-
feet Of further upturns in the general
commodity list helped the live cattle
market but pointed significantly to the
measurable results of rather aggressive
efforts by Chicago beef houses to ele-
vate prices.
All markets gave sheep and lambs a
higher price range despite q sluggish
dressed outlet. Practically all grades of
fat lambs sold so to IS cents higher
at Chicago, where strictly choice wool
skins reached 81 on shipping account
the highest price paid since July. 1882.
There was daily struggle for buyers
to get necessary tonnage as receipts for
the country as whole fell to the sea-
sons low point. The advance on foot
was resisted at every turn by large and
small killers, but with little or no ef-
3ectiveness.