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figures indicate producers are doing what hog and broiler producers have done, staying in the business and smoothing out ups and downs and adjusting faster to the supply and demand situation.
There’s some evidence too of generally increased demand as a factor in the prices of all three major meat items.
If you have cattle on feed, don’t panic over the price dip. If you have feed, hold them, unless they will go too heavy. By too heavy, figure over 1,200 pounds. - For the coming year, feeder calf prices this spring should be equal to or bettetr than last year, and considerably better than last fall.
Feeders for immediate delivery on major markets are running within 25 or 50 cents of last year now, with undertones of strengtth.
To give you an idea of what feeders think, dealers in Amarillo the week of February 4 were contracting 500 to 650-pound choice steers for March delivery at $24 to $26 and for July delivery at $22.25.
But watch for signs of how the President’s new grain price support program will do in Congress. A jump in feed prices might take the steam out of demand for feeders.
Slaughter cattle on Virginia auctions last week averaged $24.50 for good grade and $23 for standard, Virginia prices were generally about 75 cents lower for the week, with Chicago steady at 50 cents lower, particularly on lower grades.
HAY
If you have hay to sell, let it go. Take the $10 rise in price in the last few weeks and don’t gamble with the weather.
Dealers in the Vally say hay is beginning tomove, with Number 2 leafy alfalffa bringing $40 to $45 to farmers, straight alfalfa $35 to $38, and clover-timothy mixes $23 to $27.
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