Show lV e i r aA LT T LOOKS L f hE THE TIIE IS S EVER p oveR V E V Following th the drastic declines of the past three It lt aPpears PP a-PP to tc many in the tra trape e a that cattle values have finally rea reached hed a 8 level which should stimulate consumption of beef to such an ex exi mt nt as to In fact there are aTe many stu students stu- stu students students pr prices s dents of the tr de d i ol 1 l tat fiat hat the declines hive ive b en sa s p e t p tate that some so-me upward rd r VI vis In n of f values is in 10 order t ti tH re axe ale f fa v v who look for any re cat at t i m in inthe inthe the price situation situs lon ion f r some time to come eom-e and it s oS si em beyond r reason ason t to to see Me t ie a cattle attle market react back to the he 1 vela vels which prevailed I early n they the Mei y i r The trade is resigned re to the sharp redu reductions ns in amb rob mb values as there has been rapId rapi expansion in breed breed- breeding breeding ing mg flocks and M 1 Meven even with a n wide Ide amount of adv advertising and sales effort out of promotion promotion i t w v s questIon to stem the thc dc in 1 lamb prIces But tHe cattle on is 15 According to the statistician thero th o was 89 no sup over oversupply oversupply oversupply ply of bee beef cat cate e and the decline IS the result only c dt depressed trade con and reduced buying PO power er Improvement in business condItIons and greater regular employment should bring ibo t adjustment in m the cattle market f course just when hen business conditi conditions will III improve to permIt such rea readjustment is another But there show shou I be no forced liquid liquidation of breeding breedin herds of cattle Bachas Bach sachas as occurred after the slump following ie a World War The present low seal sea of values should on the other ha hani stimulate the re- re re building of cattle herds and Ion a a mg ing at present pre nt prices much less difficult problem than an any anytime time in 10 recent ears the southwestern south cattlemen this sea sea- sea sea- season season season feed condi condI- condItion'S conditions son have Aly ly good tion'S and Arizona and New Nc Mexico Me cattlemen are I in condition to carry carryover carryover carryover over their her herda without sacrIfice I Stocker and f feeder feder eder cattle must be priced at much lower le els lei els than last i season in orde to encourage the feeler feeder to buy I which enn en- en ensi km 1 n t element fri fri- si n nto the tte c ker K-ker ker ard and feeder situa situation tion x i- i ithe the co coi of corn and hay hayi crops in 1 the i dale v west est While itis it I is likely that he recent bre king Icing up I of the red ed ad drouth has some some- somewhat 1 somewhat what relieved the he situation it seems very likely the th t the demand for s stock stock-I stockIer stock stock- stocker toek-er toek er and cattle from the Corn Belt this fall taB will be much smaller maller I than normal As a result there probably WIlle willa will e a greater percentage I of stockers shockers a ai i feed feeders rs marketed in California tha thai usual 1 I In direct con rast ast to Corn Belt elt conditions con con- condItIons con conditions there ere bumper crops crops of I hay and gram grain m n California th s 5 sea season S s- s son and prIces have been relatIvely low Apparently Apparent the only profitable outlet for this Beed ee eed will be through the feeding of l estock This has rc-I rc re- re resulted re resulted suIted in some for feeder cattle I ear earlier her in m the season than normally as California irk I the past pest has been m mainly a range Teed Teed state It is of course too ctrl to estimate the volume of feeder demand from Cali Cah- California fornia range ca castle tie feeders as thIs will depend larg ly upon whether hether or not the state h ha early fall rams rains There h s been no contrasting of feder cattle as yet as buyers and s s are far tar apart part in their VI views of or stackers t and feeders to California ordinarily takes place pwe about t November let 1st I e i l |