FOURTH ANNUAL YEAR BOOK — PART VI. 343 



tase and stood ready to pound the market on all such occasions. The 

 buyers at the leading markets lay their plans to best succeed in bearing 

 the market by sending news out to demoralize feeders, and the rule is 

 that feeders will let go much quicker on a declining market than on a 

 strong advancing market. 



From the very high prices of one year ago, &ome decline should 

 have been expected, but the farmers themselves have done more to de- 

 moralize the market than any other class of men, acting as if they 

 tliought there was no bottom to the cattle market, and shipping cattle to 

 market that should have been left at home. 



The only remedy that I can see is for farmers to organize and stop 

 glutting the market to help the buyers to demoralize prices. I do not 

 want to be understood that I am in favor of combining to demand unrea- 

 sonable prices to the consumer, but to only protect the producer in get- 

 ting a reasonable profit on his product, is the consumer getting the ben- 

 efit of these low prices, or are packers and butchers demanding and re- 

 ceiving more than a fair profit? 



Chicago appears to be able at any and all times to change the value 

 of the different grades in the twinkling of an eye. When the market is 

 well supplied with good, ripe well matured cattle, the combine makes a 

 leader out of some other grade that is in less supply, and pounds the 

 market on the better grades. 



The shipper is a professional that can tell where his cattle will 

 grade. Our export trade has been good all season. The exporters have 

 lined their pockets with that which should have been partially divided 

 among the shippers and feeders. 



Lest you may think that I have digressed entirely from the subject as- 

 signed me, I will give- you my views on the question of feeders and feed- 

 ing. I consider this a very diflBcult question — one which depends upon 

 many circumstances. First, quality of cattle. Second, the ability of the 

 feeder to get the best results . and knowing how to balance the ration. 

 Third, in economy in keeping expenses down to the minimum. Fourth, 

 in knowing when to ship or to sell. Fifth, in consigning tt? a good firm 

 that will look after your interest and earn their commission. 



In selecting feeders we should always select the offspring of pure 

 bred males, from any of the beef breeds, and regulate the prices paid 

 according to quality. A rough, coarse steer, poor in quality, will consume 

 as much or more in the feed lot, and will not sell within one dollar per 

 hundred where the smooth, mellow-hided animal will sell. Our motto 

 should be fewer and better cattle. 



In the first place, let us as nearly as possible compute the cost to the 

 feeder of the finished product: 



1 ,000 pound steer, at 4 cents $40.00 



Interest on $40 six months 1.20 



70 l)ushels of corn, at 30 cents 21,00 



.300 pounds oil meal, $2 per cwt 6.00 



Cost of finished product $68.20 



