Show The Situation The general feeling among the 11 livestock estock grow gro growers ers is that price fluctuatIOns fluctuations fluctuations are governed gO by Supply and Demand and as rule they are arc stilling willingto to take their losses or gains gams as a matter of not course course not too exuberant when profits are arc high and not too de depressed depressed pressed when profits are low 10 depending depend ing ng upon the general average which after all is the way ay that all business goes In the present depressed state of livestock values th there thre re is one redeem redeeming redeeming mg ing feature and that is where here lower lo price Je levels els are reflected all thru the industry the public at least gets the benefit witha with Ith Itha a tendency to popularize meat foods A recent 1 of the United States Department of Agriculture in in- in indicates indicates that the retail prices in Ne NewYork York and Chicago ourA our two 10 1 0 largeSt cItIes substantially reflect the low 10 lower lower er price of the meat on the hoof This same release places the reduction reduction reduction tion of live prices compared with a a ago o as follows follo Cattle 35 per cent hogs 40 per percent percent percent cent lambs Jambs 13 per cent The meat food business has stood the test of all depressions and still does docs on as a matter of fact it must go on because of the thc importance of meat food as a national ration and even though there is a decreased supply of cattle and hogs we e must remember that there is an offsetting decreased purchasing power This fact connected with Ith the low prices of all food stuff is sufficient to depress lIvestock and meat food values Cattle prices pi ices on the thc eastern marl mark markets ets have ha within the past ten days sho shown shon n an upward tendency with vv ith a agam again again gain gam of about one dollar per hundred hundredweight hundredweight weight eIght all of which is encouraging and decidedly helpful to the grow glO growers ers throughout the country The best opinion is S that the situa situation tron tIon does not justify too much optimism optimism Ism in m relation to further advances but it is hoped that we e can hold the gain am without slipping back to the thee e i 10 el price le cIs So far as supplies are concerned 1 this Vie view is justified but again agam we weare ware are arc right back to the question of de demand demand demand mand and there will be no great Im- Im Improvement improvement provement in m that respect until m in individual individual conditions not too encouraging So far as the thc Western Vestern states are e concerned the thc number of cattle corn com corning coming mg ing off of grass will Ube much less Jess than a year ago but with an increase flom the langes ranges of the southwest south Range conditions are arc spotted with Ith some sections badly from conditions and this not only means a decreased number of fat cattle but that the thin cattle mg ing from such areas will Ill go into feed lots and to this extent tent the move movement movement ment of feeders from normal sources sull be affected There e has not been a sufficient m in increase crease in price on the Middle l vest Wes vestern cattle ern market mallet to turn eastward east the cattie cat cattie tie tle from and Wyoming feed lots evidenced by 8 75 top with Ith bull bulk of sale sales of fed steers ranging from flom 7 00 to 3 00 on the Chicago market mallet as against 7 50 to 8 65 on othe the Los lLos Angeles market Undoubtedly the bullish attitude of certain packing interests intel ests as reflected thiu u trade hade channels during dm ing the past two 1 Weeks has had a stimulating effect adding a very much needed support to a badly sagging price situation |