Evening star. [volume] (Washington, D.C.) 1854-1972, 1953-02-25
Boom-ond-Bust Era for Cattle
Hits Profiteers in Pocketbook

price slump has jolted the entire
industry and particularly Mr.
Briscoe's bankers, oil men,
BARRIERS and soda jerkers," These
were the people who decided to
become part-time cattlemen. The
price of beef was good. They
saw a chance for a good profit,
and put their money into cattle
as a sideline.
Good While 1t Lasted.
It was good ride while 1t
lasted with beef selling at the
highest prices in history. But in
recent months the price drops
have wiped out tens of millions
of dollars IN anticipated profits
and added real losses in addition.
Farmers and stockmen alike
have felt the squeeze.
Actually the Stockmen who
make cattle, : raising their life
work don't have too much SYM
pathy for the Johnny come =
latelies in the business. They
figure these people contributed
to the price break without any
long-range interest in the bust
ness.
Prices began falling several
months ago because of a big cat
tie supply. Cattle began moving
to the market in huge numbers
because Of drought and feed
costa movement that cattle
men say has begun to level of
somewhat
Still. there are more cattle
reported today on the ranges and
in feed lots than ever before in
our history-estimated at 3d.
100000 head as of January !.
And some cattlemen think the
situation may get worse before 1t
gets better.
Problem Has Political Dynamite.
The price problem does have a
high content of political dyna-
mite-should the cattle-growers
and feeders start blaming the
Eisenhower administration for
their troubles. And there is talk
in this country that Democrats
already have begun making an
issue out of prices to swing the
farm vote back into the Demo-
cratic column.
One Texas cattleman who
asked his name not be used told
me.
There are some people up
there in Washington who are so
concerned over us right now that
they intend to force help down
our Threats even if we don't want
it," And there were others who
feel the same way.
Since Washington is particu-
larly sensitive to the farm vote,
the price situation has caused a
furry of excitement among leg
iSlators who want to do all they
can to protect the farm economy.
In some cases. the legislators are
willing to do more than some of
the people concerned out here
want them to do.
This was reflected in reaction
from some quarters of the cattle
industry to the move by Senator
Kerr Democrat, of Oklahoma)
to require the Government to set
aside $25 million for supporting
beef cattle at 100 per cent of
parity
Opposition Aroused.
This proposal has stirred OPP
position in Texas. Oklahoma and
other parts of the Mid West
from spokesman for cattle Or
CARNATIONS These cattlemen-
who represent big producer
groups-don't want subsidies or
controls of any kind.
And there is opposition devel-
opine in this country to any
Government loan program for
cattlemen The opposition is
coming from bankers and cattle
men themselves.
Recently in Oklahoma, former
Gov Roy Turner - a rancher
himself-met with stockmen to
talk over the cattle situation. "It
has not been indicated in any
meeting Of cattlemen have at
tended that the groups want a
pr1ce-Support program" he said
we cattlemen have always
had a feeling we could work out
our own salvation. These disas.
tiers are bad, but I want to start
on the premise that cattle are
probably too high. My opinion is
that the inventory figure on cat
tie was inflated. We should ex-
pect a mild decline"
Hometown Loans Favored.
MIR. Turner argued loans
should be handled with home
town banks which understand
our problems"
In Texas. a meeting Of the
Texas Bankers Association a few
days ago disclosed the bankers