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Show . . M Livestock: J Livestock values dropped to the lowest levels in many years in 1932, with the close of the year finding prices at the low ebb. What the immediate im-mediate future offers remains to be seen, yet it is difficult to sense any substantial improvement unless there is a decidedly better tone in general business conditions, and greater employment. em-ployment. In any improvement in business and industry generally, stockmen are in good statistical position posi-tion to benefit, as supplies of livestock are not burdensome under anything like normal demands. There are sharply decreased numbers num-bers of cattle in feedlots, both in the middle west and the western coun'ry generally. These reductions were the . esult of restricted credit facilities and 'ack of enthusiasm on the part of cat-le cat-le feeders. Those who had supplies of grain and other feed on hand, but lacked the ability to finance purchases of f( der cattin or lambs, attempted to into est producers in the idea of shipping their stock to be fed on a cooperative or profit-sharing basis. While this theory sounds good on paper, pa-per, it did not work out in a satisfactory satis-factory manner in the winter of l!i:;l-l!K12. There arc smaller (supplies of cattle cat-tle on the ranges of California than during any winter in many years. Likewise, the population of ewes has decreased and a smaller .spring lamb crop than uny time in the past three years is forecast. Thus both the cattle and sheep men have smaller numbers on hand and any improvement in consumer con-sumer buying power may be expected expect-ed to bring about a more satisfactory price condition. I That buying power is relatively better in Southern California than in' most other sections of the country may be realized when it is seen that ; the total livestock slaughter in Los j Angeles county in 1932 aggregated 2,515,000 head, as against 2,407,081 1 head in 1931. Cattle and hog slaugh-j ter showed a good increase, while "kill" of calves and lambs showed a I slight decrease from the previous year. It is also interesting to know that Los Angeles county slaughterers arc uilizing 41.1 per cent of all the cat-t'e cat-t'e slaughtered in the state, B0. 1 perj cent of the hogs and 39.3 per cent of the sheep and lambs. The 35 licensed, I'laughl crers in Los Angeles county! are thus converting well over 40 per ' cent of all the livestock slaughtered! In the state, despite the fact that there :ire 20 licensed plants In the Nun Francisco bay area and 417 in other . cclions of the stale, I .oh Angeles packing plants ImyeJ operated at full capacity during the past twelve months and the fart that, stock has been attracted hen; from more than a dozen states indicates !'ial market prices al Los Angeles are relatively higher than at any other major packing center. ' |