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Show LIVESTOCKREPORT Los Angeles, March 23 Continued advances in the fat cattle market have, added more than twenty per cent to the market value of most of the cattle in western feedlots, as compared com-pared with less than a month ago. Good fed steers sold above the $7.00 mark during the past week for the first time since early in January and the general level of steer prices is the highest since early in December-. Whether or not the higher price level will be maintained remains to be seen, yet the condition of the market adds materially to the prospects for profitable sale of grass fat cattle later la-ter in the spring. The upward price swing is the most pronounced since the drastic market declines started more than a year ago. Taking the leading middle western markets as a criterion, Government Gov-ernment reports state that during the first six weeks of 1932, shipments of stocker and feeder cattle from twelve leading markets were forty-two per cent smaller than a year previous, and of only one-half the number in the same period in 1930. The same authority indicates that the reduction in market supplies of fat cattle will be the most pronounced in June and July, the period last year when supplies sup-plies were relatively large and prices extremely weak. Due to the pressure of liberal supplies, sup-plies, the recent advance in hog prices pric-es was not fully sustained. However, with $5.50 hogs at Los Angeles during dur-ing the past week, the market was the highest since January 14. Some seasonal upturn in hog values may be expected until well in the summer, although market supplies during the spring and summer are expected to show an increase because of reported increased fall farrowing through the Corn Belt. Lamb prices have worked higher on the Pacific Coast, with new crop California lambs selling up to $8.00 at Los Angeles. The movement of California spring lambs will be later than normal. Good rains through the big lamb raising districts in central and northern California have improved improv-ed feed conditions, but it is apparent that improved feed has come too late to prevent heavy death losses in both ewes and lambs, and it is more apparent ap-parent than ever that the volume of California spring lambs will be considerably con-siderably smaller than a year ago. Stockmen are having less difficulty in getting financed, partly because it is apparent that prices have .reached "the bottom" and also because of improved im-proved conditions of banks and loan companies, as a result of Federal legislation and help. The usual loan agencies apparently will be in a position po-sition this season to take care of all normal financing needs. |
