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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Dec 28, 1950
Page
5
Slaughter cattle and calves show active trade with medium to good classes feed lots steady to higher. Cattle receipts near 11,000, slaughter calves and yearlings priced from 21 to 36 dollars, hogs around 37 to 43, lambs mostly steady with top woolled offerings near 31.75 to 38 dollars, ewes steady.
The market reports mixed figures with wool futures holding steady amid varied price directions. Traders noted action remained subdued with modest shifts in bids and offers across categories as observers awaited clearer signals.
The market surged on Wednesday with the Dow Jones 60-stock average rising 1.70 to 87.80 amid broad participation across industries, rails, oils, and manufacturers. Traders chased bargains as buy interest widened from blue chip to less speculative issues, signaling strong funds flowing into equities.
New Fone reports cotton futures closing 75 cents per bale lower to 45 cents higher amid low trading and no fresh incentives. Spot cotton eased in New Orleans markets with limited selling as mills withdraw pending price controls. exports and loan figures awaited. Spot averages show declines across southern markets with thin demand and futures pressure from hedging observed.
Grain prices mixed but mostly down near the close as futures declined several cents from earlier gains. Wheat faced pressure from cold weather and weak crop conditions, while corn rose on Midwest buying despite mixed signals.
Markets at a glance show Sacks at new 1950 Ps Bonds steady with a late rail advance. Cotton irregular with liquidation and New Orleans buying. Wheat eased to steady, corn steady as cold weather boosts feed demand. Oats easy with early gains fading. Hogs active and 50 cents lower to a top of 29.85. Cattle uneven, mostly lower by up to 50 cents.
Wheat and barley quotes show slight gains and declines across several grades. Prices listed include white and yellow wheat near $1.96 per bushel and barley around $1.42 to $2.42 per hundred pounds, with nominal changes and mixed futures signals amid commodity market activity in Chicago and nationwide notes.
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