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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 17, 1978
Page
17
New York stocks mixed as of 10:30 am with Abbott Laboratories and Allied Chemical among movers. The Dow Jones Industrial Average sits around 812.46, while Standard & Poor's index readings show varied early results across industrials utilities and financials, reflecting a choppy session.
The Dow Jones industrial average jumps 18.11 to 813.24 as buyers push stocks higher on Monday. NYSE volume hits 29.26 million shares in two hours, with breadth favoring gainers and most sectors rising except gold stocks. NYSE composite up 0.94 to 52.88 and AMEX up 1.13 to 135.82 amid broad market rally.
Hog prices move unevenly with 200 to 260 pound barrows and gilts up to 50 higher, others 25 to 50 higher. Sows up 25 to 50. Cattle and calves see steers 1 to 2 higher and heifers 50 to 1 higher, cows largely firm. Notable lots include 1,150 to 1,225 pound steers at 54.50 to 55.00 and 1,340 pound steers at 54.00. Estimated next day receipts list cattle 5,000 and hogs 4,000.
Livestock Monday reports slow to moderate hog demand with mostly steady butchers and sows. Hog price ranges by weight class and sow weights listed. receipts forecast and prior figures noted. Federal Market News Service cites steady undertone for eggs with light trading and balanced supplies. farm egg prices shown by grade and size, with regional price ranges and trends.
Archer Daniels Midland Company posts net earnings of 9.31 million dollars or 0.30 a share for the quarter ending March 31 1978 on 31 335 679 shares. Nine month totals 38.08 million dollars or 1.22 a share on 31 294 250 shares. Compare with year ago results. Also notes tax provisions and subsidiary Corn Sweeteners in Cedar Rapids.
Square D Co reports first quarter 1978 earnings of 14.55 million dollars or 61 cents a share, up from 12.58 million dollars or 53 cents a share a year earlier. Q1 sales totaled 161.77 million, vs 142 million last year. nine cents net per sales dollar. The Cedar Rapids plant maker See also Webster City hogs and cattle market notes. Chicago grains close with No. 2 hard red winter wheat at 3.27 and corn at 2.55.
Chicago futures trading for livestock opened on Monday with prices moving on the Chicago Mercantile Exchange. First Mid-America provided the market framing for the session.
Chicago prices show bulk selling prices unchanged for E99 and retailer carton quotes of extra large 61 to 64, large 58 to 60, mediums 53 to 55. Sioux City livestock summary reports hogs at 46.50 to 46.75 for 200-250 lb butcher stock and 42.50 to 43.00 for 350-450 lb sows, with cattle trade active and steers 50 to 1.00 higher and choice steers 52.00 to 53.25 for 1,000-1,300 lb, heifers 50 to 1.00 higher and 850-1,100 lb at 50.00 to 51.50.
Public Health Ministry spokesman said cholera has reached 51 of Thailand's 72 provinces and has claimed 90 lives since the outbreak began last September.
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