-5- 



.St. Paul. Thus prices- of feeder cattle have followed the same pattern 

 as the prices of the lower grades of slaughter stock. 



The decline in prices of better grades of cattle probably 

 reflect, in cart, readjustments to the ceilings on beef which were 

 originally fixed at the highest March price of each seller. Recently 

 they may reflect increased receipts of the better grades of cattle. 



The receipts of slaughter steers at Chicago were distributed 



as follows: 



March Aoril May June 22-27 

 19^2 19^2 1942 19^2 



Choice & orime 11.5^ 9-9^ ^*^% ^7-^% 



Good " k6.3 ^4.5 55.7 66.3 



Medium 36.9 ^2.g 37.3 1^-9 



Common 2.7 2.g 2.b 1.0 



Total 100.0% 100.0^ 100.0% 100.0% 



Ten per cent of the slaughter steers at Chicago were choice 

 and prime in April, only ^ per cent in May, and 13 per cent in the last 

 week in June. This increase is seasonal, as more long-fed cattle become 

 available for sale. Possibly some feeders held back better cattle when 

 the ceilings were first established. 



The strong price on the lower grades reflects, at this time, 

 reduced supplies. In April, ^3 P<3^ cent of the slaughter steers were 

 classed as medium and in the last week in June this percentage had 

 declined to 15. Also the government is apparently buying more of the 

 lower grades of beef for canning purposes. Field armies must, in part, 

 be fed out of tin cans. 



Chang;e in beef ceilings - Recently a nev; order has been put 

 into effect regarding ceilings on beef prices to become effective July 1'}. 

 fc'^holesale sellers of beef arc not to charge more for beef or veal than 

 "the highest price actually charged by the seller during the period, 

 March I6 to March 2^, 19^2, at or above which at least 30 per cent of 

 the total weight volume of the sellers* sales of carcasses of the sajne 



