REPORT OF THE SECRETARY OF AGRICULTURE. 5 



milling," mixing, and by feeding less to livestock. The per capita, 

 ccnsimiption of wheat in the United Kingdom has remained re- 

 markably constant during the last 14 years but declined slightly 

 during the war. In France per capita wheat consumption, including 

 seed, was reduced from an average of 9.3 bushels during the period 

 1909-1913 to an average of 7.4 bushels during the war period of 

 1914^1918. Since then the average has increased to 7.7 bushels. Mill- 

 ing restrictions requiring the mixing of from 8 to 10 per cent of sub- 

 stitutes with wheat flour are still in force. The per capita supply 

 of bread grains has also been considerably below normal in Germany 

 and Austria. Thus in selling their surplus wheat the farmers of 

 the United States have to meet increasingly keen competition in a 

 foreign market where the demand has declined. 



CATTLE AJST> SHEEP. 



The 640-acres-grazing homestead act and tariff reduction on wool 

 some years ago depleted the number of sheep on the ranges and 

 stimulated cattle production. The pre-war price of range cattle was 

 $6.74. In 1922 the price was $6.60. Tlie war stimulation of the 

 range-cattle industry and the consequent advance in cattle values 

 led many producers of range cattle to overextend themselves and 

 make large use of their credit, which was easy at that time. The 

 shrink in values since, combined with unfavorable weather conditions 

 in some sections, have resulted in severe financial losses. As a result 

 throughout the range country liquidation has been and still is being 

 forced, and large numbers of cattle, cows as well as steers, have been 

 thrown on the market at ruinous prices. Loans on cows are being 

 called and new loans on cows very generally refused. This forces too 

 many cows on the market now and tends toward a shortage later. 



On the other hand, cattle feeders who finish on grain for market 

 have fared very well during the past year. Prior to the war cattle 

 ranging in weight from 1,200 to 1,350 pounds were about 17 per cent 

 above the price of range cattle. In 1922 cattle of this weight sold 

 about 36 per cent above the price of range cattle. In 1922 good to 

 prime cattle were about 50 per cent above the price of feeder steers, 

 while in September, 1923, they ranged to about 70 per cent above. 

 The high industrial activity has given a good market for good beef 

 and has stimulated a demand for the higher grades of cattle which, 

 come finished from the feed lots of the Corn Belt. 



