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Show UPWARD SWING IN j COMMODITY PRICES CONSIDERED SOUND Los Ar.gek-s, Ju!y2 General improvement im-provement in commodity prices is giving the Americ.n people move, confidence in the future, and that hat is needed more than anything j else to restore business to a normal: plane. Our great surp'us stocks ofj grain, wool, cotton and other com-j modifies are gradually being elimin-j ated. While optimism must be Um-1 pered with sound judgement, there if i every reason to believe that the pre-1 sent upward swing in commodity prices is statistically sound. j The first real improvement in the , general business situation was felt in the open livestock markets, where ! both hogs and cattle made substantial substan-tial advances in June. While there ; have been some price reactions since j that time, the general market levels : are considerably higher than two ; months ago. Further improvement, j as well as holding piesent values, probably depends largely upon the j buying ability of the people. It doesi appear that the measure of renewed i confidence, installed into many differ- j ent lines of business as a result of higher livestock prices, has caused j improvement in the general business , and industrial situation. To Livestock growers, improve- j ment in hide and leather prices is of j great importance. Chicago reports the most active hide market ,in a long time and values of hides, while still abnormally low, are considerably higher than last spring, the fact that many New England woolen mills are again working at capacity is encouraging encour-aging to sheepmen. Grain prices are generally higher and it seems that the way is cleared for further advances, ad-vances, as the immense Federal Farm Board wheat stocks are now ! said to be practically cleaned up. j Cattle feeders appear to have confidence con-fidence in the future as is evidenced by the renewed demand for feeder cattle at the Los Angeles Union ' Stock Yards. Particularly signifi-' cant of western cattle feeders' desire to supply the demand for good qual- j ity, grain finished beef, has been the' demand for fleshy steers to go into feedlots for a turn on grain feed. Several shipments were mads from the market last wek at prices rang-ing rang-ing from $4.50 to $5.35, and even as ; high as $6.00 to $6.25 for steers that i had had some grain rations. ! There is some demand for feeder lambs but very few appear to be available this season, due to the fact that good range conditions have permitted per-mitted a larger than normal number of iambs to fatten on range feed. |