i 

 ^^ most^^recent report of grain in store and afloat at domestic markets 



indicates holdings of oats at 2,136,000 bushels compared with 7,328,000 

 bushels last year. This is in contrast to a 6- per cent increase in 

 storage holdings of wheat, 12 per cent increase in corn and a 5° per cent 

 increase in rye. Storage stocks of barley are considerably below last 

 year's holdings. The U. S. Department of Agriculture indicated Saturday, 

 August 1, that total stocks of domestic soybeans as of July 1 were esti- 

 mated at 23,000,000 bushels, equivalent to about one-fifth of last yerx's 

 production, 



Focder-cattle situation . It is difficult to find anyone who 

 wishes to m?ite forecasts concerning the outlook for cattle feeders. The 

 statistics are somewhat contradictory concerning the number of feeder 

 cattle reaching the feed lots. As indicated in a recent Review , govern- 

 ment figures of stocker and feeder cattle received in 7 corn-belt states 

 for June 19^2 exceeded comparable figures for June 19^1. However, 

 another report issued by the U. S. Department of Agriculture on the number 

 of feeder and stocker steers sold at k markets — Chicago, Kansas City, 

 St. Paul, and Omaha — indicates that the number sold in July. 19^2 v;as 

 25; 7^2 compared v;ith 31,790 sold in July 19^1. G-eneral observations and 

 reports of comments from various corn-belt stater, indicate that stockers 

 and feeders are not coming into the corn belt in large numbers. During 

 the past few months the demand for grass-fed cattle has been strong for 

 slaughtering purposes, and the spread between choice and prime corn-fed 

 cattle and the better quality feeding cattle has been so narrow as to 

 offer little inducement to cattle feeders. 

 ^^ Beginning July I3, a new wholesale price regulation for beef 

 became effective. Under this regulation, ceiling prices were established 

 by grades, more nearly in line with prices which actually prevailed in 

 March. Since these new price regulations went into effect, there has 



