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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 17, 1979
Page
16
United Press International reports a diverse morning showing Abbott, Air Prod, Alcan and many United States stocks trading amid modest shifts. Composite listings include AmEx Boston NASD and Instinet data with footnotes clarifying market sources and dividend conventions.
The American Stock Exchange releases a nationwide composite price snapshot for selected stocks as of 11 20 AM. The update, sourced from United Press International via The New York Times, reflects intraday movement and market sentiment.
Standard and Poor's hourly indexes for Tuesday indicate mixed results with industrials and utilities lagging while others hold near session levels. Investors watch for further data as markets attempt to steady after recent volatility.
Washington AP Miller, chairman of the Federal Reserve Board, says the economy is slowing nicely but inflation will persist for months. He notes consumer prices rose 1.2 percent in February and that rate hikes could slow growth further, risking a recession. He expects policy effects to appear in the second half of the year.
The Cedar Rapids hog market fell 50 cents on butchers while packers stayed steady. Butchers 200 to 230 pounds priced at 43.50 to 44.00. Sows and packers also steady with weights and price breaks detailed. Sheep market steady with lambs at 70 to 73 dollars. Soybeans and corn prices rose modestly for April and new crop, with round quotes for No 2 corn and No 1 yellow soybeans. Grain quotes from Pro Farmer include wheat and oats with current spot figures in Cedar Rapids and Chicago markets.
Livestock report from Des Moines shows hog trade slow with demand moderate to good. Butchers steady to mostly 50 lower than Monday's mid session and down from the close, sows steady. Price ranges listed for various weight classes and sow groups alongside receipts data and a note on Chicago futures.
The Federal Reserve reports March factory activity rose 0.4 percent from February, reversing two straight declines. Utilization reached 86.3 percent, matching December and above Q4 85.9 percent and last year’s 84.25 percent average.
In New York on Tuesday afternoon stocks inched higher after reports the Carter administration backed away from pressuring the Fed to tighten credit. The Dow rose to 860.53 at 1 15 p m EST, the NYSE index gained 0.10 to 57.15, and 676 issues advanced to 579 declines among 1741 issues.
UAW retirees plan a Thursday noon potluck and business meeting at IBEW Hall. Various local adverts list retailers, dining specials, medical practice closure May 18 1979, and community events including tours, clubs, and services across Cedar Rapids.
The dedication for Landwave a 10 by 20 foot acrylic on sewn canvas mural will be held Thursday at 5 p m in the lobby of the Five Seasons Center. Signe Nelson Stuart of Brookings South Dakota will supervise installation funded by the Quaker Oats Foundation and the National Endowment for the Arts. This is Cedar Rapids first publicly funded artwork since 1929.
Omaha reports hogs 75 to 1.00 lower with 200-260 lb ranges and sows down. Cattle and calves show steady to higher trends with loads of choice and prime cattle and heifers near 75.50 to 76.75 for 1000 lb cattle. Des Moines notes beef steady for choice steers and heifers with pork price declines across grades. Webster City shows hogs 75-100 lower. Sioux City markets reflect firmer steers and higher cow prices amid active slaughter. Estimates for Wednesday list cattle and hogs totals across regions.
Iowa Kansas Missouri and Oklahoma winners will compete for the regional title at Jefferson High School Cedar Rapids starting 9 a.m. The contestants are Edward Schwartz Waterloo Jeffrey Bragalone Fort Leavenworth Allan Harvey Rolla and Laura Vance Lawton The regional winner advances to the April 25 sectional in Bismarck North Dakota Four sectional winners then compete April 27 at El Reno Oklahoma for national titles totaling 8000 5000 3000 and 2000 sponsored by Hanford Post No. 5 Cedar Rapids.
The Federal State Market News Service reports unsettled undertone in the U S west north central regions. Buyer sentiment is mixed with light offerings and moderate trade while supplies remain generally adequate at farms. Prices cited in cents per pound for commercial flocks 11 16 2.
News Service Tuesday notes incentive mostly lower with demand moderate to good and light supplies. Undertone weak as producers receive per dozen prices by grade and size including Grade A large 52-53 cents and 52 cents range, Grade A medium 42-45 cents, other Grade A ranges 32-42 and 27-30 depending on size, Grade B large 14-30 cents.
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