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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 16, 1979
Page
24
United Press International reports a wide array of stock prices as of 10:30 a.m. including Abbot Labs, Aetna, AmEx options, AmRdc, and many others. The table lists last sale prices and percent changes across industries, with activity from multiple markets and notes on last price indicators.
Cedar Rapids hog market rose 50 to 75 cents on butchers with other weights mixed. packers steady. Prices for 200 to 230 lb butchers at 36.00 to 36.75 with sow prices graded by weight. Cattle top at 63.00 for 1000–1200 lb steers and 60.00 for 900–1050 lb heifers. Lambs 56 to 58 per head. soybeans up 3 cents and corn steady. price quotes to Cedar Rapids processors at 10:00 am include NO.2 corn 2.49 August, 2.47 September, 2.42 new crop. white corn 2.79, 3.01 new. soybeans 6.96–6.72. oats 1.48 old, 1.58 new. Prices from Pro Farmer Grain.
Livestock writer notes moderate hog trade and good demand in Des Moines slaughter markets. No 1-2 200-230 lb butchers bring 36.00 to 37.00, larger sows steady around 27.50 to 29.00, with broader ranges for heavier weights. Estimated receipts about 85,000, matching last week and up from a year ago.
Beef trade slow with demand light and limited establishment across cattle grades. Pork items show modest gains with some cuts higher while others trend down. figures for loins, bellies, hams and other cuts listed in 14 to 30 lb ranges with price shifts.
Sohio confirms an agreement with Northern Natural Gas for two trillion cubic feet of Prudhoe Bay gas to be delivered after Alaska Highway pipeline completion. The deal serves 71 utilities in nearly 1,100 communities, aiding the stalled Alaska gas pipeline project and financing via the northern border pipeline plan through Canada and the United States.
The auto industry and related sectors see continued layoffs with Chrysler reporting 23,800 workers off indefinitely. GM lists 14,392 and Ford 15,800, plus hundreds of white collar cuts. The United Auto Workers plan a strike target while steel and tire plants also announce reductions and closures.
The dollar showed a narrow mix in European trading while gold slipped. Tokyo closed higher in yen as European sessions began, with gold around $298.63 per ounce and the pound at about $2.2365 in London.
UPI reports livestock trade Thursday with 1,100 hogs auctioned. Butchers up 25 to 50 cents, sows 25 cents higher, demand strong. No 1-3 hogs 200-250 lb 38.00-38.25, 250-270 lb 37.75-38.00, No 2-4 270-300 lb 36.50-37.50, No 2-3 300-700 lb sows 29.25-29.75.
On this date in 1969 Britain completed a troop movement into Northern Ireland to help quell the worst violence between Roman Catholics and Protestants in more than 30 years.
The United Press International report lists selected stock prices as of 11 20 a m New York time. Prices include Amex listed companies such as Petrol A Betrol BrodRo CrownC Syntex Teleflex and USFilter with varying last sale figures and changes.
Standard Poor's hourly indexes show a mixed pattern for Thursday with utilities and transportation sectors fluctuating. Prevailing close values indicate slight gains for some indices while others dip, reflecting a cautious trading session.
Stocks rose as institutions bought heavily despite unclear economic signals. The Dow Jones average edged up to 887.02 after a morning dip, nearing a 10 month high. NYSE index climbed to 61.70 with a small gain in share prices as advances slightly outpaced declines.
The Federal Reserve reports a 0.1 percent drop in industrial output in June due to a 3 percent-plus cut in auto production. July index stands at 152.1, signaling a slower economy with a potential recession, while gains in other sectors barely offset autos declines.
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