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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 27, 1968
Page
16
Financial markets show irregular declines with moderate volume as Schenley leads activity after Glen Alden tender shift. IBM and Dow components move tentatively while Penn Central partial rebound and various industrials post fractional losses. dividends notes and ex-distribution details accompany the market report.
Chicago AP reports Wednesday receipts: 6,500 cattle 3,500 hogs. Butcher hogs down 25 to 50 cents. Slaughter cattle and spring lambs steady.
Hogs 5,000 head with cuts 25 to 50 lower. 210-225 lb butchers 20.75-21.50. 200-235 lb 20.00-20.75. 240-250 lb 19.75-20.25. 250-270 lb 19.00-20.00. sows steady to 25 lower. Cattle 1,000 head slaughter classes steady. steers 1,150-1,275 lb yield 3-4 28.50-29.00. 1,100-1,300 lb yield 2-4 27.76-28.50. heifers 925 lb 27.00. 825-950 lb 25.00-26.50. lambs 90-110 lb 26.00-26.50. 24.00-25.50 for mixed grades.
UPI reports hog market activity in Des Moines with fair demand and weaker butchers mostly 25 to 50 cents lower while sows hold or ease slightly. Estimated receipts Tuesday 80,000 versus 90,000 week ago and 81,000 year ago. Monday 105,000.
UPI notes cattle run of about 9 000 with calves around 10 some 25 higher end steer prices at 28 40 to 28 50 per cwt for 1125 to 1300 lb ranges. Heifers 900 to 1125 lb mainly 26 00 to 27 00 with prime values 27 25. Cows utility to commercial 17 75 to 18 75 canner 16 75 to 18 00 around 18 25 in a few cases.
Market prices in Cedar Rapids slipped Tuesday with hogs 25c lower. Monday’s bulk delivery prices ranged from 19.25 to 19.75 for 200 to 230 lb butchers, with packing sows at 17.50 to 17.75 and various weight based deductions for hogs over 230 lb. Cattle ranged from prime steers at 27.25 to 28.00 and utility to cannery cows 12.00 to 18.50, while sheep and poultry showed mixed delivered prices.
In Chicago A P reports late buying and short covering lifted grains and soybeans. Wheat rose 38 to 58 cents a bushel, corn gained 3 to 8 cents, oats were unchanged to 48 higher, rye up 42 to 68 cents, and soybeans up 4? to 14? cents.
Wheat No 2 yellow hard 1.23 per bushel No 2 soft red 1.21 No 2 yellow corn 1.07 No 2 extra heavy oats 0.59 Soybeans No 1 yellow 2.74 Soybean oil 7.55 per 100 pounds and related market figures.
New York produce notes ample medium and small eggs. Large eggs in good demand. mediums fair. Standards 37 38?2. Whites priced with Fancy large 45-46, fancy medium 36 42-37 12, fancy smalls 19-19 14. Butter offerings adequate. demand fair. Prices unchanged.
Live poultry prices hold steady with roasters at 24 1/2 to 26 cents per pound and special fed white rock fryers 20 to 21 1/2 cents. Butter ranges 60 to 67 cents per pound across grades. eggs show Grade A whites at 40 cents and mediums 35 cents, with standards at about 31 cents. Potato arrivals total 34, shipments 177, supplies light and demand slow as market dulls.
Yesterday's Quotations lists grain and oilseed prices with corn No. 2 yellow at 1.07 and no. 4 yellow at 0.014, oats No. 2 extra heavy white at 59.1, sample grade extra heavy white at 58, soybeans No. 1 yellow at 2.7434, and soybean oil at 7.65. The figures appear irregular and may reflect OCR artifacts.
Across four Iowa auctions on August 23 2027 slaughter cows remained steady feeder cattle mostly steady with some 25 cent gains. Feeder steers calves and hogs showed varied prices by weight with choice ranges mainly 23.00 to 28.60 for steers and 11.00 to 20.60 per head for feeder pigs. Lamb and sheep prices ranged from 23.00 to 26.40 for slaughter lambs with feeders around 20.00 to 23.90 for 50 to 80 lb lambs. Replacement ewes offered from 15.00 to 17.50.
The Labor Department reports July prices up 0.5 percent from June, marking the steepest two month rise in 11 years. The July consumer price index stands 4.3 percent above a year ago.
Officials import three large road-building machines to widen and strengthen New Delhi streets. The move ends the old method of hauling hand-mixed asphalt in baskets on workers heads as too slow.
Moscow reports the Soviet Union launched two unmanned satellites Cosmos 236 and Cosmos 237 on Tuesday. Both craft were sent into orbit as part of the Soviet space program and aims of advancing space technology.
The Radio Television News Directors Association urged President Johnson to relax floor coverage limits at the Democratic national convention. Democratic officials rejected a network appeal to allow more than one floor camera. The correspondents' committee protested a 55 floor passes cap, with 25 for radio and TV newsmen, citing crowding at the International Amphitheatre.
Quaker Oats Co reports a 13.7 percent rise in earnings to 21.323 million for the year ending June 30, with sales down 1.4 percent to 547.194 million. President Robert D. Stuart Jr cites asset sales as why sales fell, notes strong growth in the US grocery products division and cereals, with Cedar Rapids as a major cereal producer.
President Johnson marked his sixtieth birthday in Austin with no advance word on his celebrations. The White House offered no details as the president appeared slimmer and grayer, diverging from prior years when large family gatherings and extensive cotillon were anticipated.
At least 26 Iowa delegates joined a push to draft Ted Kennedy for the 1968 Democratic nomination on the convention floor. A Kennedy draft desk opened at the Drake Hotel as delegates weigh Kennedy versus McGovern and Humphrey with undecided delegates totaling 11. Governor Hughes spoke for McCarthy to the Kansas delegation, noting a split among Iowa stalwarts and delaying Tuesday's caucus to 4 pm due to the late session.
Iowa’s 1968 corn crop remains strong with 51 percent in excellent condition and 32 percent in good condition. The western counties are drier, with 4 percent poor or very poor, while 43 percent of soybeans are excellent and 43 percent are good overall.
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