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Show ILitvestocleT ' j Los Angeles, California, November No-vember 9 J. A. McNaug-hton, vice president and general manager man-ager of the Los Angeles Union Stock Yards says: Livestock markets mar-kets carry a strong undertone, in-j in-j fluenced primarily by a very broad I consumer demand and improved j buying power. Looking ahead into ! 1941, the U. S. Department of Ag-'riculture Ag-'riculture estimate smaller supplies of fat stock will be available for slaughter in 1941 as compared with 1940, but somewhat larger I than average supplies during 1939 j and above the average for recent I years. i However, in view of the prob-! prob-! able increase in purchasing power brought on by greater industrial j activity, thiere seems to be sound reason for optimism regarding j the course of the livestock mar-vets mar-vets for some tim to come. Cat-1 Cat-1 tlemen have discounted the future by paying somewhat higher ave-j ave-j rage prices this fall for their stocker and feeder cattle replace-: replace-: ments, and the cost of breeding stock also has been somewhat i higher than in reoent years. One feature of the livestock markets which adds a note of optimism is the continued strong demand for hogs. Prices have held on a remarkable stable basis ! so far this fall. Choice grain-fed butcher hogs late last week reach-i reach-i ed a top of $7.35 a cwt., representing repre-senting a slight price advance over the latter part of October. The cattle market is also holding hold-ing on a stable level of prices here at the Los Angeles Union Stock yards. Price fluctuations i have been of a mipor nature, indicating in-dicating a firm undertone in con-! con-! sumer demand. Most of the fed steers are now selling at $9 to ilO a cwt. and choice, long-fed steers undoubtedly would sell up to $10.50 or better. These prices are 23c to 50c higher than a year ; ago. Range cows are selling at j SG to $7 a cwt. and good young cows are quoted to $7.50 a cwt. ' Cow's also are somewhat higher , than a year ago. WVile these small price advances as compared I with a year ago means a great : deal to the producer and feeder, it I also means t'.'at prices are still on a relatively conservative level and the consumer is buying meats at j reasonable prices. Good and choice fat Lambs are quoted at Los Anaeles at $9 to $9.50 a cwt., representing a somewhat some-what higher price than was being ' paid a year ago. Sheepmen are ! also receiving improved prices for I wool and it is felt that demands : of the United States dV.fense pro- gram may further stimulate wool prices. M |