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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 06, 1979
Page
21
Selected composite prices as of 10 30 a m show Abbott Lob to Alcoa and many names moving. The report highlights large caps like Boeing, Chrysler, Exxon and IBM with mixed gains and losses, reflecting broad market activity across eight markets and several divisions.
DETROIT AP Car sales decline again amid gasoline anxiety and recession fears. June deliveries total 899,919, down 21 percent from June 1978, with the Big Three posting steep declines and imports rising modestly.
Cedar Rapids hog market remained steady for butchers and packers with grade based pricing. Bulk country and plant delivered butchers 200 to 230 pounds mainly 39.00 to 39.50, packing sows 550 pounds and under 31.50 to 32.50, sows over 550 at 29.00, with lighter weight adjustments and weight breaks noted. Thursday’s top steer prices reached 68.00 for 1000 to 1200 pound cattle. heifers 900 to 1050 pounds at 66.00. Sheep market up 2 dollars with spring lambs at 64.00 to 66.00. lambs over 105 pounds discounted. Also notes on eggs and feature market outlook from Federal State Market News Service.
Ozark Airlines extended cancellations for three Cedar Rapids bound flights due to fuel shortages. With allocations cut to 60 percent from Amoco, the airline dropped 22 flights in 20 cities, including 924 to Minneapolis, 871 Chicago to Kansas City, and 872 Kansas City to Chicago. Cedar Rapids officials seek options with other carriers. United Air Lines reports no fuel problems and maintains a full summer schedule.
In Des Moines hog trade was slow with light to moderate demand and prices mostly down for hogs and sows. Western No 1-2 hogs 200-230 lb bringing 39.00 to 40.50. In Chicago wheat and corn prices ranged with No 2 hard red winter at 4.53 and No 2 yellow corn near 3.11 to 3.14 per bushel, soybeans around 7.72.
Chrysler Corp boosts prices on its small cars mirroring Ford and GM moves. The increases average 109 dollars, with LeBaron and Cordoba up 31 dollars and Volare up 168 dollars. The change excludes larger, less fuel efficient models amid the era of gasoline shortages.
Des Moines report shows prices unchanged to slightly higher with a barely steady undertone. Supplies are heavy and demand light with occasional bids at 072. Offerings and bookings moderate at open prices for July and August pickups. Farm prices list commercial flocks at 8.5 to 9.25 cents per pound.
United Press International reports nationwide composite prices for selected Amex listings. Figures include Indus Trns Ham 239 80 245.13 and Netwig 2.85 156 0.23, with Pet.cig 0.25 0.64 0.22 percent.
Standard & Poor's hourly indexes for Friday show values including 4000, 2040, and 800 across Industrials and Utilities sectors. PrevClose figures listed as 113.44 and 14.82 with other numeric data including 5116 and 130.
New York AP report shows Americans bought less last month as driving fell due to gasoline shortages. Sears fell 9.2 percent for five weeks to June 30, J C Penney unchanged, Montgomery Ward up 2.3 percent, and K Mart plus Woolworth up over 11 percent. The Conference Board warns fuel costs and inflation may erode retail sales further in coming months.
Institutional buyers, fueled by a softer inflation signal and falling jobless rate, pushed prices higher on Friday. The Dow advanced to about 838.39 while the NYSE index gained to 58.38. Declines trailed advances with 844 to 428 on 1,737 issues. Beef and pork trades in Des Moines showed slow demand with modest price shifts across various cuts.
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