Show r 1971 V bestock I 1 situ jacc gliton there are two classes ot of cattlemen one man Is the breeder or producer who raises cattle to ile bo sold both as fat stock and as stockers and feeders the other class is is made up tip 0 of those who specialize on feeding cattle buying thin stock from tile breeder just at this time the breeder seems to be holding the whip land hand due principally to the generally admitted shortage of at breeding cattle stocker r and feeder cattle are selling at the highest prices ever known during peace times the southwestern range man mail Is getting from 10 to 55 tor for its his spring calves and from 55 to 65 a head tor for liis ills year lings if lie he is producing anything like a fair crop that Is it if 75 per cent ot of his cows cowa arc dropping and raising calves calv esthe the breeder is getting a very return on ills his investment in breeding stock land teed feed labor and money on tile the other oilier hand the margin between the prevailing cost of 0 feeder cattle and the present selling price of tat fat stock is admittedly narrow in tact fact many students 0 of the market are arc inclined to believe that the lie probable increase in fit value after feeding out these calves and yearl ings Is a likely to bo a so narrow is as to border bonier on the danger point it is true that fat at cattle are selling at unusually high prices but it is true also that the cost of feeding tile the critter la Is relatively high add this to the high priced thin stock block and the margin may bo be pretty narrow those who alio make a practice of loaning money to cattle feeders are not willing to take the ileks that seem to be involved and therefore tile tho man mail who feeds cattle must have a larger amount of ilia his own money invested in ill th estock before lie he can ordinarily hope to borrow money on oil the lie balance A few years ago cattle loan companies were loaning as high as 75 to 90 percent of the cost of the thin animal now there are few concerns which will loan moro than 10 40 to 50 percent of the original cost this is an important consideration and la Is bound to affect the number of cattle placed on feed particularly in the western states this season some western cowmen who tor for years havo found it more economical to buy their feeder stock rather than carry a breeding herd hard themselves are going back into the cow and calf game finish feeding the calves and yearlings yearnings year lings themselves this seems like a practical proposition in ili cases where land and improvements are arc such as to permit carrying a breeding herd the generous rainfall which has brought out teed feed and provided water for stock all through the southwestern range country may tend to cut down the number of calves and yea lings available to feeder buyers as 03 many cowmen report that teed feed is so good that many ranchers will ho be able to sell their young stock tor for beet beef rather than as feeders the situation on oil the whole is favorable to the breeder and prod producer licer yet there is so much underlying s strength in the entire cattle industry today that there will vill undo undoubtedly abated be sufficient demand to take care of nt the reduced crop of stocker stocken s and feeders |