Evening star., 1933-02-12
LIVE STOCK PRICES
IN SHARP DECLINE
Drop in Quotations on Heavy
Steers Affects Remainder
of Market.
By the Associated Press.

By the Associated Press.
Heavy cattle have lost so per cent or
! more Of the gains scored over the re-
cent lows, the week end fiip-fop OF
prices indicating big-weight brackets
have not been sufficiently whitfield down
to permit a sustained advance.
After selling off to the lowest point
in 81 years two weeks ago, bullocks were
decimated On all markets, and by Feb
ruary 3 values had advanced 25 to so
cents. Snow and sub-zero weather on
initial sessions of the current marketing
period maintained the advance. But
by Wednesday and Thursday flnishers
tried to cash in at rs cents to 81 more
per hundredweight than paid on the
near-record low market.
Heavy Steers Lower.
The glut of receipts was traceable to
all sections of the corn belt. At the
turned turtle on heavy steers, erasing
25 to so per cent, or practically every
cent of gain put On earlier in the week.
In instances medium to good grade
heaviers are selling lower than late last
week, when sentiment and prices were
bullish and in the ascendancy.
Buying orders were limited. and only
90 per cent of the Chicago receipts had
cleared at noon on Thursday. The glut
showed that the supply of weighty
steers is still liberal and that finishers
are eager to unload. The price reaction
showed the time is not yet ripe 1or
finishers to cash in on sharp upturn
without breaking the market.
Meanwhile light cattle sold depeno-
ably. The lower grades got better ac-
tion and showed more upturn tnan
strictly good and choice offerings. All
than a week ago. A typical storm trade
featured vealers, prices shooting 81 10
So higher for generally So to 50
market at Chicago. The blizzard vlr-
tually wiped out the replacement mar
ket country demand reaching a stand
still at the close.
After the close had knocked 25 cents
off the weeks high point Chicago hog
prices still were about 40 cents above
a week ago. The blizzard was a factor
in making for the widest huctuation IN
hogs in a long time. Curtailed receipts
shot prices to record levels OF the VIM
ter season, the top on wednesday reach
ing S4.15-which has not been beaten
since late in September.
Weather Aids Market.
However, the market settled back on
light buying by city butchers and local
small packers, some houses occasionally
going without hogs rather than follow
the advance. Big packers bought rather
sparingly, but all interests were in for
sizeable supplies on the decline. The
closing top was $500 against $3.50 last
Thursday.
The fresh pork market was benefited
by the cold snap and sharp advances
were scored. Light loins reach $3.50
per hundredweight wholesale compares
with So downward at the close OF last
week. The IL main markets received
298, 300 hogs this week, which was 78,-
500 heads less than last week and 200,-
500 less than the same period last year.
Heavy lambs and fat ewes alone re-
tanned 10 to Is cents Of the rs to 40
cent higher market on fat lambs which
was gradually dissipated as demand ran
contrary to expectations. The tenn
peratures, which ranged down to l9 de-
grees below zero, acted as a check rather
than stimulant. Local killers started
to apply pressure the moment shipping
orders subsidized. The late top OF 5.85
was exactly in line with last weeks
close and the main crop OF fed lambs
from Colorado, Montana and Nebraska
sold mainly at S5.25 to $5.75.
About the only optimistic sign at
present was that dressed markets con-
tinued to report rising trend OF prices.