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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Mar 03, 1925
Page
12
Chicago March 2 Wheat futures slumped after May peaked near 2.02 per bushel. May settled around 1.96 to 1.97, July about 1.70. Corn and oats softened, provisions rose modestly. Shipments and domestic stocks cited, with July wheat hitting a season high.
Stock prices rose to record highs amid expectations of a forthcoming national administration shift. Volume neared 1.7 million shares with strong buying in high priced rails and oil issues. Notable gains included Atchison, Atlantic Coast Line, Louisville and Nashville, Pan American, and various equipment and specialty stocks. Currency losses weighed on foreign exchange, with French francs down sharply and sterling and other currencies slipping.
Market mood softens with Congress adjourning and limited spring optimism. Rails led by Atchison hit postwar highs while Atlantic Coast Line and Louisville Nashville showed strength. Frisco and Rock Island lagged in low priced group. American Can and American Locomotive pushed industrials higher amid mixed news on rail earnings and Brudebaker reports.
Foreign exchanges ease with cent quotations for sterling and francs. Bar silver steady, Mexican dollars at 62 1/2 cents. Metals: copper spot and near by around 54 to 55 cents, nickel futures quoted, zinc and lead steady, tin futures around £357 to 358 per ton. London copper futures near 64 pounds 17s 6d.
The Chicago market report shows hogs selling mostly steady to higher with top figures around 12.70 for large packers and varied weights bringing 11.45 to 13.65. Cattle receipts about 49,000 with steers trading near 21.40 and stockers firm. Calves and bulls noted active, veal strong, lambs 17.25 to 18.10, feeding lambs dull, other prices mixed across weights and categories.
Omaha reports March receipts 13,500 focusing on cattle and hogs. Prices range 11.50 to 16.50 for pigs and lambs 16.25 to 18 for heavy lambs, with top ewes near 9.60 and veal around 11. Bulls and canners mixed, stockers steady to strong.
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