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Show iJjvestock: jggSituatioiul istic standard which takes hoth 50's. It seems reasonable to conclude that this corn buyer, too, is actuated by the fact that the price was below cost of production and we have always al-ways been told that that's the timo to buy. The spectacle of corn poing up and wheat going down is in keeping keep-ing with the law of supply and demand. de-mand. Everything indicates a short corn crop and we have a bumper wheat crop with our storage facilities full of last year's crop, and we don't know what Uncle Sam will do with his big holdings of wheat, thus adding ad-ding a mental hazard to the already serious situation. That it must be consumed is sure, but when and where is bothering the farmer and a lot of others. Up to date, no artifical agency has been able to change the natural law of supply and demand. The substantial leeway between pork and wheat prices favors the pork route in marketing a lot of wheat. Anyhow, the farmer with hogs as a sideline has two ways out. The livestock live-stock growers, particularly the shepherds, shep-herds, would like to see a real Moses coming their way. We are getting so used to taking losses that we are forming the habit of talking mostly in terms of losses, much like those who talk about sickness sick-ness rather than health, although there is much more health to talk about. It is a more pleasing and profitable subject and the one thing we never have a surplus, of. Substantial improvement in cattle values was an encouraging feature of the Los Angeles cattle market this week and members of the trade generally gen-erally are optimistic that some further fur-ther appreciation in cattle values is in order, due largely to the fact that Pacific Coast packers must draw upon up-on other states for a large proportion of their cattle supplies during the next three months. This, of course, means active competition between coast killers and middle western markets mar-kets for beef material. Grass cattle are practically all marketed from California ranges this season and the supply to come from that source, including "caked" cattle, is expected to be of small' volume during fall months. Imperial Valley still has a few thousand cattle to market this season, but supplies from that source will furnish only a small fraction of Los Angeles trade demands. de-mands. A few shipments of cattle are already al-ready coming to the Pacific coast from the intermountain country and these bullocks were in good fleih. However, it is believed that a large percentage of intermountain cattle will be in thin flesh this season because be-cause of shortage of feed and water in that section. There has been very little trading in stocker and feeder cattle so far this season in the southwest. Some Texas feeder calves have been sold at $25.00 to $27.50, considerably lower low-er in price than during any recent year. Arizona and New Mexico feed conditions are usually good this season sea-son and feeder calves and yearlings are expected to be in splendid condition condi-tion and carry more weight than in any recent year. While there may be some difficulty in financing purchases of stocker and feeder cattle this fall, the trade is of the opinion that when a satisfactory price level i3 established, there will ; be a broad demand for stocker and feeder cattle on the Los Angeles market. mar-ket. Those closely identified with the market believe that the matter of financing will adjust itself if buyers are able to .purchase feeders at prices which they feel will afford them a fair profit on their investment. Russian Five-Year Test. Forsaking the Bible, casting aside all moral laws, part slaves, part free. Should we match any- such condition for agricultural equality? To do so is unthinkable. We should concern ourselves only to the extent of compassionate feelings feel-ings for a people so situated and so oppressed. More and Bigger Hats Wanted. A short time ago one of the national na-tional packers cast his hat in the price arena for better livestock prices, recognizing the fact that selling prices were below production costs, which if continued would seriously undermine the foundation of the livestock live-stock industry a splendid gesture, and it did some good, but we need more and bigger hats. Now we have another man who steps into the pit and buys up all offerings of corn, raising the price some 15c per bushel. We may term it gambling or speculating, but whatever what-ever the name the fact remains that the farmer is benefited because it's real buying and selling. . Whenever we take speculation out of business we remove the incentive for initiative and skill, and adopt the 50-50 social- |