Receipts of sheep and lambs for the week both at Chicago and numerous
other western points were the largest of the year, the ten-market total
of about 419,500 exceeding the previous week’s supply by approximately
38,000 and being nearly 1,000 in excess of those of the same week last
year. The crop, however, carried a heavy proportion of feeders from the
western range and the market displayed gratifying stability following
the slump in prices during the week previous, which was one of the most
severe slumps of the season.
_Cattle._--Higher prices for most grades of beef steers showing
effective corn feeding, further seasonal expansion in the movement of
both native and western grass cattle, and further evidences of
increasing interest on the part of stocker and feeder buyers featured
the cattle trade during the week under review. The trend of prices at
the different market centers was decidedly irregular. Omaha, where
receipts were considerably lighter than the preceding week, showed
advances on practically all classes of cattle. Other River markets under
review showed irregular declines on grass cattle and comparatively
little change on desirable corn-feds. At Chicago, where receipts of
northwestern range cattle were nearly double the largest previous run
this season, grass steers and the less desirable of the warmed-up and
plain, heavy, fed steers sold steady to 25¢ lower, and the better
grades of corn-fed steers, including yearlings, all the way from 10¢ to
50¢ higher.
The return of $11 cattle after an absence dating back to last January,
marked the week’s trading at Chicago. Two lots of prime Angus and
Hereford yearlings averaging 985 lbs. and 891 lbs., respectively,
brought that price. The former consignment was made up of natives from
an Iowa feed lot, nearly half of which were heifers. The other lot
consisted of Illinois-fed, branded steers which originally came from
Texas.
The popularity at all market centers of well-finished yearlings on the
baby beef order and of finished 1,100-lb. to 1,300-lb. steers over the
weighty and more aged bullocks was as pronounced as ever, and the price
premiums earned by the former were unprecedented for this season of the
year. Thick-fat 1,400-lb. to 1,500-lb. steers of high quality and
closely approaching prime grade could not pass $9.25 at Chicago and
contrasted oddly with the moderately fat, short-fed yearlings that
brought about the same figure. Ripe steers in the 1,600-lb. to 1,760-lb.
class that had been grain-fed a year or more, sold at Chicago and Omaha
at $8.25 to $8.50 with a plainer, weighty kind that had consumed
considerable corn, down to $7.50. Many sales of good and choice
1,200-lb. to 1,350-lb. steers between $8 and $8.75 were made at Chicago
and elsewhere. A few loads of long yearlings averaging 1,100 lbs. to
1,175 lbs. sold as high as $10 and $10.50.
A generous proportion of the run, however, all around the western market
circuit consisted of branded and native grass steers of mediocre and
medium killing quality that cashed at $5 to $6.50, comparatively few
straight grass steers being good enough to bring $7. This was true
despite the fact that two loads of Montanas reached $7.25 at Chicago.
Light grass steers of common quality but carrying enough flesh to make
cheap carcass beef, sold as low as $4.25 and $4.50 at St. Paul and
Missouri River points and a few, chiefly on the Mexican order, ranged
downward from $5 at Chicago.
An increase of nearly 50% in receipts of northwestern grass cattle at
Chicago was credited in part to the 20% cut in long-haul freight rates.
The week’s total of about 13,000 cattle from that source, however, was
but little more than half as large as similar receipts during the
corresponding week last year. It seems probable, however, that the
Northwest will ship more freely during October, as after this month
stormy weather is likely to put an end to cattle roundups.
Liberal receipts of low and medium grade steers and their cheapness “on
the hooks” as compared with most grades of she stock had a depressing
effect on cow and heifer prices at all markets covered by this report
except Omaha. At the latter market light receipts forced cow prices up
along with those of most other classes of cattle. Canners and choice
dry-fed heifer yearlings withstood the downward tendency and held about
steady.