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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 01, 1980
Page
20
United Press International reports bulk selling prices for Amex selected stocks and UPI market summaries. The note lists last prices for many companies, dividend details, and indexes including Dow Jones and Standard & Poor's. Markets show varied gains and losses with intraday changes and ex-dividend details.
US stocks slid in slow trading with the Dow down to 873.97 at 1 15 p m ET and the NYSE composite off 0 05. total NYSE volume about 28 41 million shares, while 741 issues declined to 602. Rosario Resources led Big Board activity at 75 with a 512000 share block.
The Cedar Rapids hog market Friday showed steady to 50c lower prices for butchers and packers across weight categories. Sheep prices were steady for shorn and wool lambs. Grain quotes for soybeans, corn and oats moved with soybeans down and corn steady. Delivery quotes and U SDA quotations for hogs and cattle listed, with Friday deliveries and Monday receipts estimated.
The nation's railroads petition the Interstate Commerce Commission for a 4 percent freight rate increase starting April 1 due to higher costs. The ICC had granted an 8 percent general freight rate rise last Oct 15 and a 1.1 percent fuel related increase on Jan 11.
GM announces a major modernization program replacing two aging plants in Michigan and Missouri with new facilities and moving Corvette production from St. Louis to Bowling Green Kentucky. The plan aims to meet pollution rules and hinges on governmental approvals.
Cargill Inc. may add high fructose corn syrup facilities to its Cedar Rapids plant. A company official in Minneapolis called the project in a feasibility stage with fair to good chances, noting over capacity but potential market absorption tied to Coca Cola and other bottlers. ADM Corn Sweeteners, which already operates in Cedar Rapids, also hinted at expansion plans.
Des Moines through UPI notes light demand in beef and pork. Steer beef largely unsettled with thin fully grown stock at 98.25 to 100.00 for 600 900 lb, heifer beef unevenly steady to 1.00 lower, select heifer 500 700 lb around 99.00 to 100.25. Pork slow with loins 14 17 lb at 77.00 to 77.75, hams 14 17 lb 62.50 to 63.00, 17 20 lb 63.00 to 63.50, 20 26 lb 61.50 to 62.75. Seedless bellies 10 12 lb 33.00 to 36.00, other weights steady to lower.
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