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Show LIVESTOCK IS A STABLE COMMODITY Los Angeles, June 15. Despite the unhappy situation in livestock markets mark-ets today, the fact remains that livestock live-stock continues to be one of the most stable commodities in the country, with a daily cash market that provides pro-vides liquidity from the financier's standpoint. In view of the fact that livestock can always be sold for immediate im-mediate cash, it would appear that there should be less difficulty in obtaining ob-taining adequate financing of feedlot and grazing loans. Cattle supplies in all of the western west-ern country are generally admitted to be less than normal. This point is proven by the fact that cattle are being shipped this summer from middle mid-dle western points to the Pacific Coast, whereas in normal years, the reverse is true and a considerable number of cattle generally are shipped shipp-ed from California and adjoining states sta-tes to Missouri River markets. Cattlemen have been successful in greatly reducing overhead expenses, grazing land is in good condition, supplemental feeds and hay are relatively rela-tively cheap in comparison with beef values. Added to these favorable factors, there is a constant cash market mar-ket at the major stock yards on the Pacific Coast and elsewhere for livestock, live-stock, with demand comparatively better for good quality, finished stock than for half-fat and medium quality animals. Purchase of stocker and feeder cattle is possible at relatively low prices, with every indication pointing to better consumer demand and greater consumer buying power as these cattle gain in weight and fies.i-ing. fies.i-ing. Loosening up of the credit situation situ-ation on the part of banks and financial fin-ancial institutions would accomplish a two-fold purpose making possible the removal of unfinished cattle from the slaughterhouse, and providing a market for mounting stocks of grain, hay and other concentrates. It would also appear that investment invest-ment in stocker cattle to be carried on ranges and pastures for finishing on grass next season would prove at tractive. Our cattle supplies have been depleted and there is little doubt but that the cowman today is in a strong strategic position to realize substantial profits on replacements at present low values. It would seem good businss to cash cattle that are ready for market in the face of rather unsatisfactory prices, but to make immediate replacements re-placements on the same low levels. It seldom pays to carry stock along after they are in "bloom" and ready to go and this is especially true of range cattle, where conditions may change very rapidly. It is also not advisable to attempt to hold cattle after they are ready to go to market as a general holding back undpubted-ly undpubted-ly Would tend to force a great number num-ber of cattle on the market during a short period, a situation which would certainly be injurious to values. |