Excerpt from The Market Reporter, Vol. 3: June 18, 1921

Neither the financial situation nor the condition of the fat-cattle market was con ducive to a broad demand for stock or feed ing cat.tle June usually witnesses a light trade on country account, and this month is proving no exception to the rule. With grazing conditions favorable in most sections the movement of stock and feeding cattle to primary markets is light but the demand is also light and centers chiefly on the higher quality grades of stock steers. The desired kinds are scarce and are selling up'close to heavier weight cattle on the feeder o1der. During the past week the greater' portion of the latter were in fai1 flesh condition and usually found their best outlet to killers. Common and plain stock'er stuff found a very narrow market. Many prospective buyers of stock and feeding steers show a disposition to defer purchasing until the western range cattle run is under way or the future of the fat cattle market appears more clearly defined.

Stock steers closed 250; to 5011 higher for the week at Kansas City but prices at other points under review we1e steady to_ lower. A 25[ decline on both stockers and feeders was fairly general at Chicago. A large per centage of the she stock now reaching leading ma1ket centers is grassy' 'and buyers are demanding greater price differentials be tween that class oi stuff and the few grain-fed cows and heifers. That fact carries bulk transactions far below top quotations.

Well conditioned dry-fed heifer yearlings and the few choice heavy kosher cows com ing are, by virtue of their scarcity, selling high relative to steers. The bulk of the butcher cows and heifers at Chicago during the week cashed at $5 to $7, although choice, dry-fed heifer yearlings sold up to $8. 50 and occasionally choice kosher cows to Most of the grassy heifers sold there below $6, and grassy cows between $4 ane $5 were numerous. Canners and cutters were in light supply and narrow demand and sold largely between $2 and $3. 75, with some canners down to $1. 50 at St. Paul and Missouri River markets.

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