Live Stock Markets. 



607 



The Daily Drover's Telegram, Kansas City, said of the hog 

 market : 



"The hog industry in 1912 was one of the most profitable in 

 several years. Substantial prices were maintained practically 

 throughout the entire year in spite of the abundance and cheap- 

 ness of feed in the last six months. The much heralded shortage of 

 hogs in the country was noticeable to a large extent in the last half 

 of the year when receipts everywhere became smaller. The dis- 

 astrous fall of 1911 was directly responsible for this shortage, as a 

 great many stock hogs were wiped out by disease that spread over 

 the country. However, the free application of cholera serum, to- 

 gether with more sanitary handling, did much toward eradicating 

 the disease, and sick hogs were in small percentage of the supply, 

 comparing with last year. Weights and quality were also largely 

 improved during the past year. 



"Following is the opening and closing range of prices for each 

 month (bulk of sales), and net gain or loss for the year: 



"From January until the middle of March prices were from 

 50 cents to $1.80 lower than the same time last year. The condi- 

 tion was easily traced to large receipts of unfinished lightweight 

 hogs that were being marketed, because of much sickness in the 

 country. From March until the close of the year, the market was 

 always higher than 1911, and the lowest price in that time was only 

 50 cents lower than the high mark of last year. In April, May, 

 June and the first part of July, the market averaged practically 

 steady with prices fluctuating between $7.65 and $8.05. Exceed- 

 ingly light receipts in August, September and October, caused an 

 extremely bullish sentiment in the market, and prices during that 

 period advanced steadily until $9.05, the high mark of the year, 

 was reached. November and December were bearish months and 



