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Show .ISitimiory C Los Angeles, June -1, 1934 Cattle prices have advanced to levels that permit a fair profit to those cattlemen cattle-men who are fortunate enough to have sufficient feed supplies, whether wheth-er in the form of ranee and pasture, or in dry lots. Seven dollar cattle again made their appearance on the Los Angeles market during the past month the first time so far this year. Feedlot supplies of cattle throughout the country are considerably consider-ably smaller than at this season of the year for several years past and members of the trade confidently confident-ly anticipate higher prices for fed cattle during the summer months. California grass cattle finishers also are sharing in far better prices than a year ago, with $6.00 grass steers on the Los Angeles market.! Most of the well finished California grass-fat steers are now selling at $5.25 to $5.75 a hundredweight, as compared to $4.75 to $5.25 a year ago. Higher prices for feed lot cattle do not come as an unmixed blessing for feed prices are mounting also. Supplies Sup-plies of hay are dwindling. Alfalfa hay prices in southern California are now $2.00 to $2.50 a ton higher than a year ago. If shortage of water for irrigation prevails in the Imperial valley, as now seems likely, shortage of hay in this section may become serious to livestock interests. With numbers of cattle on the Pacific coast far below market requirements, re-quirements, cattlemen on the west coast are intensely interested in developments de-velopments in the middle west. And conditions in that secton of the country bring optimism to western people who have plenty of water and feed. Heavy steers reached $9.75 on the Chicago market last week. There is every indication that fed steers are on the upward trend, but with alarming drouth conditions in many states, there is great fear that markets mar-kets will be flooded with thin and common cattle from drouth districts. In absence of normal outlet for stocker and feeder cattle, most of these cattle probably will be forced into immediate beef channels to the detriment of the trade. Recognizing the seriousness of this situation, the federal government is actively engaged in a relief program to remove theso cattle from trade channels. The scope of government buying will have much to do with holding up the market on cattle fit for slaughter. It is not too late for rains to relieve a great share of the drouth-stricken area, so the situation will bear watchful waiting on the part of stockmen. |