Evening star., 1934-08-11

Ths T0ttotHtHg fepteW uI Wo
tpeek's activities In the livestock
markets has been especially pre-
pared for the Associated Press bv
the United States Department of
Agriculture.
CHICAGO. August ii.--Hogs and
lambs continued to uncover rather
spectacular price gains, but liberal
run OF cattle. to large extent from
drought: :affiicted areas, showed up
This means that all species Of live
stock prices was not entirely bullish.
At Eastern markets hogs reached
$5.85, the highest point since Septem-
Der, 1891.
This means that all species Of live
stock are now selling more nearly In
line than at any time during the sea-
son, $40 steers having already disap-
peared, to be displaced largely by kinds
selling under So. This weeks advance
on hogs was. roughly. so cents. and
lambs gained so cents 10 81. On the
other hand, practically ell grades Of
steers lost rs cents, shipper activity
around midweek failing 10 restore al
of the early sharp break.
Flooded with Cattle.
The river markets were literally
flooded with grass cattle shipped from
scorched pastures early in the week.
and the surplus naturally had 10 be
absorbed. Killers insisted that lower
grade beef was not moving readily and
grasped the opportunity to bear down
| on prices. Such cattle worked Is
much as so cents lower during the
week under review. Many drought
cattle we're not suited for country
outlet. and hence had only one mar
| ket to killers. According TO the latest
available figures the Government has
| purchased nearly two and one-ha6
million drought cattle in approxi-
mately 20 States, with shipments rln-
ming more than 100000 behind. This
together with the recent influx OF
Southwestern grassers at terminal
markets shows that the widespread
drought Is gradually tightening is
grip.
approximately 10000 cattle arrived
at seven principal markets this week,
against 1885, 900 during the correspond
ing period last week. The latter fig-
ure was affected to q certain extent
by the Chicago strike last week, but
at any rate the movement OF cattle
is rapidly reaching new heights. The
bulk Of fed arrivals comprised year
lings and light steers. On several
occasions shippers were unable to get
enough medium-weight and weighty
| - a..
lings to get finish. It was In fact q
relatively healthy market on well I'M
ished yearlings all week long, choice
heifers closing rs cents higher IN
instances. Around 1,0O0-pound year.
ling steers brought $3.50 at Sioux City,
and l,lS0-pound offerings made So.lb
at Chicago. The extreme Chicago top
was $3.50, paid for l,2e2-pound steers,
similar to $1o.25 offerings at the high
time.
Share In Recession.
Warmed-up and short-fed steers,
particularly light kinds. shared the
N"cline on grassers, killers getting q
sizable quota under SO. A spread OF
$3.50 to $4.25 took most grass steers
at Kansas City, the center OF the
supply excess early in week. Country
demand for weighty feeders revived
to q certain extent, well-bred but very
thin Montanas averaging around 1000
pounds going out Of Chicago ut $3.50,
for example.
Hog receipts showed some contrac-
ton at interior concentration points,
ore among several bulIish factors that
kept prices on the upgrade. Long
hauled shipments Of 220 to 300 pound
h1ss occasionally sold upward TO s5.0b
at interior Iowa points. st. Louis led
other Midwestern markets on Thurs
day with q top Of &5.66.
Fed wool lambs sold UP to $50 late
at Omaha, the same being paid for
Idaho rangers nc Denver. Continued
small receipts, more than any other
single factor, forced prices higher, the
dressed trade assisting early in the
week. Sheep did not share the ad-
vance on lambs.