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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 12, 1928
Page
14
Chicago and Minneapolis reports show strong buying of wheat for prompt shipment from North America, with Europe buying about 1 million bushels. Prices edged higher as traders anticipated better spring wheat prospects and awaited rain.
In the refined sugar market today little demand was reported, confined to nearby requirements. Prices held at 5.95 to 6 cents for fine granulated. Futures closed steady with about 23,850 tons sold: May 2.60 cents, July 2.73, September 2.84, December 2.92, March 2.80.
Bar silver closed at 59 4 cents per ounce in New York trading on May 11. Mexican dollars slipped to 45 1/2 cents as market activity cooled.
The Associated Press reports a broad stock market rise with heavy volume and advances in high priced specialties. Industrials led gains while rails slipped. Wright, Curtiss, and GM hit new highs amid merger rumors and stronger money conditions.
Chicago and several midwest markets show strong to higher hogs with top bids $10.30 for 200-220 pounds. Cattle receipts 3,000 with steady trade and gains up to 50 cents on many killing classes. Sheep receipts 12,000 with few testable values and mixed loads of lambs and ewes.
Spokane AP report from May 11 notes cattle receipts at 35 head with steer prices mainly 25, other steady. hog receipts 137 with steady prices. sheep receipts none and steady.
Portland notes from May 11 record no receipts in any department for early trading with prices steady. Chicago figures show butter unchanged with 9,103 tubs received. eggs lower with 30,597 cases reported, firsts 29 ½ to 29 ¾ cents, storage packed extras 31 ¾ cents, firsts 27 ⅞ cents.
On May 11 the market showed steady quotations for currencies. Great Britain demand at 4.8713 16 dollars, France 3.9355, Belgium 13.9515, Germany 23.90, with cables slightly higher in most cases and 60 day bills at 4.84 for banks.
The Hansen Packing Co of Butte quotes hog prices: Choice 10c, medium heavy 8 1/2 to 9 1/2c, extra heavy 8c, lights 5 1/2 to 6c, extra lights 7 1/2 to 8 1/2c.
By the Associated Press in Chicago on May 11 poultry sales show Alive firm with three car receipts and prices unchanged.
In New York on May 11 call money renewal aided short covering as equities rallied led by airplane stocks and autos General Motors and Chrysler posted gains with a $2 per share extra dividend announced for this quarter Copper futures firmed on higher red metal outlook Oils stayed in demand due to prorating in the Seminole field Industrial shares rose while rails faced some selling after an early advance In Chicago wheat markets resistance held steady amid dry western weather and steady exports Corn and oats showed mixed moves with heavy planting progress and bullish hay and alfalfa conditions.
The Commercial Bulletin notes improved tone in the wool market with London and Brisbane showing only slight price dips and domestic sales rising, especially in finer wools. Mohair remains firm with a 75c minimum on good Texas bags, while shipments and receipts in 1928 show declines from the prior year. tomorrow's quotations list detailed prices by region and grade for fleeces and mohair across multiple states and districts.
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