OCR Text |
Show for conservative cattle loans through banks and established loan companies. compan-ies. No emergency exists in this direction dir-ection and interest rates Ere certainly certain-ly not high, in comparison with lo:m ' rates on other commodities. All in all, the western cattle situation situ-ation appears to be bright for cowmen cow-men who have feed available. While a period of higher prices may be in store for the consumer, it also is certain cer-tain that better quality of beef is in store, due to ths increased interest in better breeding and dry-lot finishing. iLivestock: lSituatlQjnL, AP ' The past year has for the' most part I proven to be a profitable one for tlr j cr Itleman. Prices on beef cattle o 'he whole did not quite measure up o the high average established dur-'ng dur-'ng the previous year, yet pvice? 'ere such as to afford profitable re turns for the majority of the stockmen. stock-men. In many cases, cattle feeders laid ;n their thin stock at abnormally high pvices and the margin of profit was ot only narrow, but such as to remit re-mit in losses in many -'nstances. Such :. condition was not conductive to wards active buying of feeder stock during the past few months and what feeder cattle have been laid in .wer purchased at substant'ally lower pri" es than prevailed the year befor. Even at that, feeder prices this fall were high enough to afford satisfactory satisfac-tory returns to range producers. There are many conflicting factors in the cattle situation just ahead. However, there seems to be good op-portun'ty op-portun'ty for realization of profitable prices during the early months of L930, upon the old axiom that "What is well bought is well sold." Then, too, the western country has and is contending with serious drouth and resultant shortage of range feeds. This has reduced the number of feeder feed-er cattle brought into the state, so that there is likely to be a marked reduction in the number of fat cattle available for the markets during the early months of 1930. The shortage of supplies would naturally indicate sufficient reason for a higher level in values, yet there are factors which may offset the shortage of beef to some extent. The general economic situation over the country will bear watching. The sixteen billion dollar loss in stock market quotations no' doubt has affected af-fected buying power. Whether or not this condition will affect industry and employment remains to be seen. As we have often said before, beef prices pric-es will largely be regulated by the buying public, and the ability and willingness of the public to pay higher high-er prices for beef, which comes into competition with other foods. Cattle prices later in the season will, of course, depend to a great extant ex-tant upon the amount of rainfall and the amo. nt 'of available feed in the pasture districts. Just at this writing, writ-ing, it seems safe to assume that, with virtually the entire western country short on range feed due to prolonged drouth this late in the sea- son there udoubtedly will be fewer cattle fattened fcr the spring and i summer markets. There is plenty of money available! |