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This newspaper page contains 11 articles. Subscribers can read the full text of each article.
Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Dec 19, 1950
Page
11
Cotton prices rise on heavy military buying amid tight supplies. Traders expect higher prices as mills hold back and buyers seek to cover anticipated demand, with settlements showing gains across futures.
Fragmented OCR text shows price confusion with references to mid market values and odd spellings. Mentions of cents per pound and fluctuating figures suggest a summary of commodity prices and market conditions with unclear specifics.
New York reports bleachable cottonseed futures closing 16 to 60 higher with 481 contracts traded. Prices shown include Oct and May bids with spot wool tops and related commodities noted amid strong wool markets and government order influences.
New York stocks rise near an 11 year high as bonds attract strong rail demand. Cotton remains firm amid large military purchases. Chicago wheat strongest since May 1948, hogs advance 50 to 75 cents, top 19.10, and cattle firm up to $1.00.
CITY GRAIN CITY December 18 AP Wheat futures rose with No 2 hard red at 2.37 to 2.42 while corn and oats showed mixed gains. Exchange rates and global quotes drifted as traders weighed supplies, with activity noted but no dramatic spikes.
New York stocks hit a 20 year high average as heavy buying from across the country pushed trading volume to one of its busiest sessions in 11 years. Wall Street cited government spending and anticipated mobilization as factors while analysts warned inflation remains a risk and suggested cautious policy moves ahead.
Gordon Gray, former Army secretary and new UNC president, filled in as newspaper carrier in Chapel Hill after the regular driver was sick. He delivered a bundle of papers in a soda shop incident that led to a brief floor accident as he apologized and picked up the papers.
cattle markets show 2,800 head in SA area and 3,100 in Fort Worth with calves strong on load lots. slaughter steers scarce and beef cows around 20 to 22 dollars. hogs and lambs mixed with hogs up to 50 cents early and lambs steady to weak in Chicago and Fort Worth readings.
The Department of Agriculture said 1950 crops were the fourth largest in history with corn at 3 131 009 000 bushels and wheat at 1 026 755 000 bushels. Cotton remained a weakness with 9 945 000 bales. export demand and reserves look ample.
Imported wool in carpets leapt from 21 cents to 1.42 dollars per pound over three years. Analysts cite Russia as a strong rival in the Argentine wool market, where it supplies essential fabric for army uniforms.
J B Kirklin of Pecos, head of the Trans Pecos Cotton Association, blasted the Mexican government and officials at a congressional hearing on farm labor problems. He accused Mexico of uncooperativeness in cutting off Mexican labor at intervals despite adequate numbers. The attack occurred during a hearing of the labor subcommittee of the House committee on agriculture in Midland.
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