Big Break in Cotton Triggers Heavy Buying Wave
A surge in cotton prices sparked strong buying as bears retreated and buyers moved in. Federal estimates sparked initial declines, but eager bargain hunters fueled a rapid partial recovery.
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Newspaper
Atlanta Constitution
Location
Atlanta, Georgia, United States of America
Date
Dec 11, 1915
Page
3
A surge in cotton prices sparked strong buying as bears retreated and buyers moved in. Federal estimates sparked initial declines, but eager bargain hunters fueled a rapid partial recovery.
The report lists cotton movement across ports with middling prices, receipts, exports, and stocks for New Orleans to Savannah, Charleston, Norfolk, Baltimore, Philadelphia, New York, and minor ports. It includes interior movement data for Houston, Memphis, Augusta, St Louis, Cincinnati, Dallas, Montgomery, and totals for the season, plus unfilled tonnage of a steel company and turpentine and rosin figures from Savannah and Jacksonville with quotations.
The New Orleans market shows nervous, irregular behavior as traders react to the government's crop estimate of about 11.4 million bales. May and March futures fluctuated near 12.8 and 12.95, with spot cotton steady after earlier declines, while reports place the official crop range around 11.9 million to 12.15 million bales and totals awaiting arrival data. The day closes with mixed changes and a general net decline, amid active buying from Liverpool-connected houses and southern sellers.
Fragmented OCR note records currency quotes and bonds with unclear figures in various currencies including francs rubles and gaya. It notes demand and cables, government bonds, railroads, and a reference to a 60 gaya item with 2 percent and other scattered percentages. The text is garbled and incomplete.
Washington December 16 The 3315 crop estimate shows total production around 11,161,000 bales equal to 5.33 percent. value projected near 603,260,000 at 12.3 cents per pound, with state by state production figures and prices noted. The bureau plans full census data in March after ginner reports are compiled.
Dun's Review notes demand outpacing supply with freight congestion still hampering channels. Exports remain strong despite vessel purchases, while holiday spending rises and wages push up costs. Wholesale prices reach near historic highs, led by iron and steel activity. weekly bank clearings total 2,841,001,525 dollars.
A string of reports from New York and London discuss the 11,161,000 bale cotton yield forecast, selling pressure, and expected demand. Analysts from HONP & Co Hubb ard BROS. & CO and others forecast higher prices, with May and July options favored on moderate declines as buyers and spinners adjust to government estimates and export shifts.
A dense list from Atlanta market pages shows corrected prices for meats such as Cornfield hams and bacon, plus grocer items ranging from lard and sausage to diverse canned goods and flour. Includes specific price bands, vendor notes, and equipment terms across poultry, seafood, dairy, and staples.
Chicago December 10 wheat fell on mixed news from peace discussions with losses in December and May futures, while corn and oats slipped. Buyers steadied early but lack of export sales and heavier arrivals pressured prices, with provisions steady to lower. Rumors of Canadian wheat loans and returns weighed on sentiment as traders reassessed end of hostilities.
Chicago and St Louis trade reports show hog receipts and prices for December with mixed futures, cattle and sheep values. Kansas City and market provisions list prime beef, lambs, and stockers with scattered contract figures and cash quotes for December 10.
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