relation to ceiling prices at which the pork must be sold. This situa- 

 tion is likely to continue until supplies increase to the point where 

 the quantity available for domestic distribution is large enough to 

 satisfy the intense consumer demands. These consumer demands are strong 

 because of increased incomes and limited outlets for consumer spending 

 because of reduction in supplies of durable goods. 



The situation with reference to cattle prices has been difficult 

 The average prices for beef steers sold for slaughter at Chicago for 

 designated periods were: 



March April Mav June 22-2? 

 19^2 19^2 19^2 19^2 



Choice & -orime $1^.71 $15-63 $15.0? $13-97 



&ood 13»0J 13. ^3 13»65 13.09 



Medium 11.24 12.02 12.33 12.20 



Common 9.66 10.35 11*02 11.02 



Average $12.59 $13.26 ^13-22 $13-14 



The average cost of feeder steers for the same periods were: 



Chicago $11.27 $12.05 $12.65 $12.22 



Kansas City 11.^7 11-93 12.00 11. 76 

 St. Paul 10.01 10.74 IC.gO 10. 7g 



Choice and prime steers at Chicago in the last week in June 

 averaged 7^ cents less per 100 pounds than in March, $1.66 less than in 

 April and $1.10 less than in May. On the other hand, medium steers in 

 the last vjeek in June ranged 96 cents higher in price than in 

 March, IS cents higher than in April and only I3 cents less than in May. 



Changes in prices of good steers were intermediate between 

 those of choice and prime and of medium. In other words, since price 

 ceilings were set in the middle of May, the prices of lower grades of 

 cattle have held up and prices of better grades have declined. 



At the end of June the average cost of feeder cattle was down 

 from the Kay average. They were 43 cents per 100 pounds less at Chicago, 

 but only two cents less at St. Paul. But they were higher at the end of 

 June than in March and slightly higher than in April at Chicago and 



