MONTANA LIVESTOCK 37 



(4) With an improvement in the feed situation and in the prices for finished 

 cattle, a fairly active demand for stockers and feeders is expected in the fall of 

 1925 and prices for such cattle should average a little higher than in the fall of 

 1924. 



On the Otlier Hand. 



On the other hand, the federal report points out that even at present price levels 

 (January, 1925), American beef cannot compete with Argentine beef in, the European 

 markets, so there is no prospect of an improved export trade, although any probable 

 increase in the price level is not expected to be great enough to attract Argentine 

 beef to the United States. From another federal source it is pointed out that virtually 

 all dairy cattle eventually are slaughtered in competition with beef and that expan- 

 sion in the dajiry industry is still in progress, January 1, numbers (1925) having 

 been estimated (for all United States) at 24,600,000, compared with 23,400,000 in 1919 

 and 20,400,000 in 1913. 



From a Montana Viewpoint. 



The State Agricultural College has the following to say with relation to the 

 beef cattle situation in Montana: 



"While immediate prospects for the grower of beef cattle show only a slight im- 

 provement, it is generally expected that this improvement will continue for some 

 years." 



The college also calls attention to the fact that the spread between high grade 

 stuff and inferior to common grades has been great and will probably continue, and 

 that higher grade stock is what is demanded by the feeder buyer. 



The development of finishing and fattening cattle in some sections of Montana, 

 where surplus of feed grains, hay and concentrates can be utilized is already a factor 

 for some improvement in the state's beef industry, as is also the trend toward earlier 

 maturing types, which though hampered by lack of ability to finance on the part of 

 many producers, is nevertheless making some headway. 



Sheep. 



Increased numbers of sheep on farms and ranges and a larger production of 

 wool in 1924 compared with 1923 have been the response of Montana sheepmen to the 

 trend of market prices of sheep and wool. The sheep industry is in its strongest 

 position since war days, and after three years of improvement has now reached 

 a point where most, if not all, of old indebtedness has been liquidated. Prices of 

 breeding stock have reached the highest point since the war period and there is 

 indirect evidence of a large number of sales. There was a tendency last fall to 

 withhold ewe lambs in marketings, and present signs point to some further ex- 

 pansion in the sheep industry in 1925. 



Hogs. 



Expansion in the hog industry reached a peak in 1924, when marketings practi- 

 cally doubled those of the preceding year. January 1 numbers on farms (1925) were 

 estimated as being practically the same as a year ago, while the December pig survey 

 made by the U. S. Department of Agriculture, indicated a moderate reduction in num- 

 bers of sows bred for spring pigs (1925 crop). 



Horses. 



Horse raising as an industry has declined to a point where it is relatively unim- 

 portant. Total numbers of horses on farms and ranges have declined steadily in the 

 past five years, and breeding at present is largely confined to that necessary to main- 

 tain farm numbers. 



