SOUTHEASTERN feeder and slaughter cattle prices continued downward during

SOUTHEASTERN feeder and slaughter cattle prices continued downward during the week ended July 11, the U.S. Department of Agriculture’s Agricultural Marketing Service reports. Cotton, heavy hens and grain prices posted advances, while other farm prices were mixed and unchanged. The decline in feeder cattle prices was attributed to pressure of increased marketings. Hog prices also continued to drop, ranging 25 to 50 cents lower..

Soybean prices made sharp gains while corn advanced moderately.

GRAIN—-Soybean prices moved sharply higher * and corn prices posted moderate gains during the week ended July 11. Soybeans were mostly 40 to 42 cents higher, while corn prices ranged mostly 7 to 10 cents higher. Primary market factors during the period were sharp advances in the Chicago futures market, a tight supply situation in corn and relatively light offerings of soybeans by producers.

Early week rumors of potential sales of U.S. grains to the Soviet Union prompted increased buying activity on the Chicago futures market. Government sources have since confirmed that the Soviets may be in the market, due to insufficient production.

Cash bids to corn producers at southeastern Virginia points closed the week at $2.70 to $2.93; Richmond, $2.85 to $2.90; and Wilson, $2.83. Louisville, Ky., was $2.80 to $2.90 an# Ohio Valley $2.73 to $2.85. Alabama trucklot offerings closed at $3.10-3/4 to $3.13-1/4, Georgia rail and truck offerings ranged $3.08 to $3.091/2. Memphis “out of state rail offerings” were $3.07 to $3.101/2, Norfolk bids to producers closed at $2.70 to $2.96.

Cash bids to soybean growers at southeastern Virginia points ranged 40 to 43 cents higher at $5.25 to $5.43 and Richmond at $5.39. Louisville, Ky., closed at $5.41 to $5.45 and Ohio Valley $5.40 to $5.48. Alabama old crop bids brou, ght $5.47 and new crop $5.15. Raleigh, and Fayetteville, N.C.,