Evening star., 1933-02-19
LIVE STEER PRICES
IN STRONG UPTURN
Hog Market Lower sS Re-
ceipts Increase-Lamb
Quotations Irregular.
BY FRANK I. WELLER,

The trade believes it will require
another marketing period to determine
the stability of tbs week ends strong
to 25-cent higher market on steers and
yearlings. Some light and long yearl-
ings grading good and better, and prac
ticany all weighty steers, sold as much
as 40 cents higher on the close whereas
such kinds had been under pressure
earlier in the week.
Chicago observers credited the rise
to short beef crop on the day East
ern shippers suddenly increased their
activities, a situation which they said
had all the earmarks of being a tenn
porary affair.
Light Steers Steady.
Common grade light steers and
yearlings sold actively all week and
closed fully steady to higher. These
did not share in the late upturn but
in view of the fact they sold readily
early when better grades frequently
were weak to lower. they still are rela-
lively tighter than good to choice offer
| ings- This tended to make replace
| ment cattle scarce but country demand
/ was as narrow as the supply.
| Other killing classes fluctuated con-
| siderably Better grade light heifers
| and mixed yearlings closed the week
| SO W ~ CCllOS IONCl, SUPPLY GACePQ-
ing the demand on every session. and
| butcher heifers closed 25 cents down
Vealers dipped sharply as soon as the
| weather moderated and highways
opened up. These influences quickly
| pricked the storm-inflated bubble and
vealers comparable with the few which
sold at $40 last week went at S6 to
$3.50 while the bulk fell from So to SO
to $3.50 to $5.75 basis.
| Weight remained very influential
price determining influence and it was
hard to beat IS on bullocks where heft
was excessive. The outlet was narrow
as rule and too many such cattle
arrived early in the week. Declines in
the dressed beef market on the Atlantic
seaboard added a bearish undertone to
the trade on all cattle scaling 1,l00
pounds upward and all runs that carried
much beef were under pressure
Chicago paid an extreme top of s7.10
for yearlings in load lots, but most of
the upper crust went at $3.50 upward
while the bulk of both heavies and
yearlings sold at s425 to Sc. Prices at
other markets corresponded in proper
ratios.
AS expected with the lifting of bad
weather, hog receipts increased 73,600
head over last week at the IL principal
markets and when demand narrowed at
the same time the market took down.
ward dip. Generally, prices were Is
to Is cents lower. light lights and pigs,
Is to 40 cents, Chicago basis.
Shipments Small.
Shippers had very small orders each
day. Chicago sending out approximately
9100 head, compared with 26,200 for
the same week last year. 1t was the
| smallest movement this year and one
of the smallest in months. Chicago
paid an extreme top of S370, compared
with $500 last week. The practical
top was $3.50 and the bulk of good to
choice offerings at 1870 to 220 pound
averages brought $3.50 to $3.50
Fat lamb prices fluctuated consider
ably within narrow limits, neither
| buyers nor sellers gaining ground When
shippers worked there was shortage
of lambs selling at or near the top and
prices bulged. Again, even a few loads
of highly finished medium weight lambs
proved excessive and buying interests
promptly reinstated the market or
normal relationships. All weights ol
lambs carrying finish were under pres
sure at the close, partly because of un-
satisfactory Eastern outlet. Earlier
advances were wiped out and the gen.
eral market finished steady with last
week.
Heavy lambs held because killers had
to compete for finish. An influx OF
Colorado, Nebraska and corn belt fed
lambs indicated flnishers were unload
ing to escape excessive weight.