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Show Hog Prices Are Holding Up Well Is Coast Report Los Angeles Union Stock Yards, October 3, 1938 Hog prices have been maintained on a basis very satisfactory to bog feeders so far this fall. The heavy receipts of hogs at the leading markets in July and August caused an early seasonal decline in prices, but it soon became evident that makiy feeders had rushed to market early to avoid the usual fall decline. The result was that supplies of hogs available in September were lighter light-er than had been anticipated, and contrary to normal seasonal performance, per-formance, hog prices advanced in September and were well maintained main-tained through the month. Hog slaughter in the United States under federal inspection was nine per cent larger than in July and 55 per cent greater than in August, 1937. Only one time previously in the past 30 years had August slaughter exceeded that of July, says the United States department de-partment of agriculture. In looking toward the future, government economists expect larger hog marketings all through the next year, but point to several factors which may serve to some degree to offset the burden of larger supplies. ItMs believed that fewer cattle will be marketed in 1939, and this of course should be helpful in providing greater consumer con-sumer outlet for pork. Storage i stocks of pork and pork products are far below the average, the de-j de-j partment reports. Export demand 5s increasing, but apparent settle-jpnent settle-jpnent of European difficulties may iwell tend to greatly increase world demands for United States pork and lard. It must also be granted that, if predictions of improved business and industrial conditions materialize, materia-lize, consumer buying power will be greater, and this factor is worthy of consideration. Relatively Relative-ly low feed prices coupled with abundant supplies make all livestock live-stock feeding attractive, and livestock live-stock should provide the major outlet for the bulk of American grain. The present returns on grain marketed via the livestock route have been far more attractive attrac-tive than prevailing market quotations quo-tations on grain markets. A broad demand continues on the Los Angeles market for hogs and after somewhat smaller slaughter during the hot summer months, it is expected that livestock live-stock slaughter in California will show seasonal increase. |