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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Aug 24, 1950
Page
3
The New Orleans cotton market rose Wednesday as mills buy to cover shorts. Prices advanced about 7 to 65 cents a bale with closing bid offers higher locally.
The AP reports the middling 15-16 inch spot cotton average at New Orleans rose to 38.02 cents per pound, up 20 cents per bale, with a 30 market day average of 37.97 cents. Receipts and stock shown as about 404.8 thousand bales.
Fort Worth stockyards report slow but steady cattle trade across regions with calves strong and stockers mixed. Prices show lean to moderate demand for steers and cows, Brahmans selling higher, with goats and sheep trading unevenly. three-day trend shows overall price firmness in some classes and softness in others.
New York stocks extend a sixth week rally as the market advances with gains across industrials and utilities. The Associated Press average climbs and volume nears four-year highs while steel and grains reflect broader demand and export strength.
Fragmented report mentions rust damage affecting the northern wheat belt and a contracted purchase of 10.2 an unspecified unit, with a plan to replace old crop with a 608,000 bushel wheat shipment timely before a stated cerea boot event. No clear dates or places beyond Chicago and Minneapolis.
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