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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jan 03, 1923
Page
10
Chicago trading shows heavy selling by holders and speculators pushing wheat prices lower. May and July futures fall to near season lows as domestic receipts rise, while corn and oats also slide amid ample supply. provisions rise with hog markets. Foreign exchange and metal markets steady to soft.
New York stock market opened higher on the first trading day of the year with gains offset by profit taking. Cattle and hog receipts in Kansas City showed mixed prices with higher calves and strong to higher beef categories, while oil shares rallied and foreign exchange prices moved on anticipated money rate changes.
Receipts vary by city with hogs and cattle showing mixed shifts. Chicago reports higher hogs and cattle strength in top lots, while Omaha and Denver note steady to stronger prices for fat cattle and hogs. Portland sees steady demand for cattle and hogs, with prime light hogs at near 9.49 to 9.50. Sheep markets mixed with slower early activity. Bar silver and a standards test mentioned aside.
Early dealings showed demand across copper, steel, auto and equipment shares with notable realisations in afternoon trading. Copper stocks stood around 490 million pounds with world consumption rising. American demand remains strong while European recovery lags. Miami Copper declares a 50 cent quarterly dividend payable Feb 18. Cotton futures faced profit taking and increased southern offerings in yesterday’s session.
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