Market tries to move up as profit taking slows Dow above 1000
The Dow Jones Industrial Average hovered around 1 006.46 after trading heavy with profit taking after crossing 1 000. Analysts see chances the index will top 1 024.05 in coming weeks while investors await rate moves. AT&T led NYSE activity as Gulf & Western and Ralston Purina followed, with Amex issues also showing gains.
MENTIONED IN THIS ARTICLE
New York
UPI
Dow Jones
New York Stock Exchange
NYSE
American Telephone & Telegraph
At&t
Gulf & Western
Rhodesia Guerrilla War Death Toll Reported
On this date in 1978 reports estimated that about 18 000 persons had been killed in six months of guerrilla warfare in Rhodesia.
MENTIONED IN THIS ARTICLE
Rhodesia
Rate Down on One Year Treasury Bills
The Treasury auctioned 4.002 billion dollars of one year bills at an average discount rate of 13.146 percent, down from 14.623 percent a month earlier. This decline shows cheaper borrowing costs for short term debt.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury
Retail sales level in May shows little change
Washington reports May retail sales virtually unchanged rising 0.2 percent to 85.9 billion from April. Durable goods rose 1 percent in May with year over year gains of 17 percent. April was revised down by 600 million.
MENTIONED IN THIS ARTICLE
Wall Street
Marine Midland Bank
Federal Reserve
Washington
UPI
Commerce Department
Department
Freight rate hike proposed by Middlewest Motor Freight Bureau
The Middlewest Motor Freight Bureau of Denver proposed a 3.9 percent general rate increase for interstate truck shipments across the midsection of the United States effective July 27. Increases target minimum charges and various less-than-truckload tiers while truckload fuel charges stay unchanged at 18.5 percent. A parallel fuel surcharge for less-than-truckload shipments drops to 3.1 percent from 3.2 percent.
MENTIONED IN THIS ARTICLE
Middlewest Motor Freight Bureau of Denver
IBP eyeing pork plants in Iowa amid hog strength
Iowa Beef Processors plans pork ventures in Iowa leveraging the state’s hog dominance. Vice president Charles Jennings said IBP may locate plants where hogs are, possibly costing at least 100 million dollars per plant and employing thousands. Jennings noted IBP could also slaughter without processing and prefers near capacity operations.
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Des Moines
Iowa
Charles Jennings
IBP
Iowa Development Commission
William Burger
Jennings
Iowa Beef Processors
Iowa Beef
Dakota City
Neb
United States
Occidental Petroleum
Occidental
The
Development Commission
Cedar Rapids and Des Moines Market Summary Friday Livestock and Grains
Livestock trading mixed with hogs steady to weak and sow prices mostly 39. 50 to 42. 00 at Cedar Rapids and Chicago markets. Hog weights 210–240 lb steady 47.00–48.00, 240–250 lb 46.50–48.00, 270–300 lb 44.75–47.00. Cattle and butchers varied by yard with receipts around 60 000. Grain prices for June July soybeans 7.04 and oats 2.43 old, 2.08 new. corn futures steady, Cedar Rapids processors paid 47.00–48.00 for 210–240 lb hogs.
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Inonk
Sonres
New York
Gulf&Ws
New York Holbrin
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UPI
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Chicago
Chicago Mercantile Exchange
Trereeninenemen
SOO
Wey
Friday's Chicago Grain Quotations
UPI dispatch from Joliet Illinois notes livestock trade Thursday with cattle unable to establish a market trend. Hogs 800 head steady to lower with gilts and borrows 1.00 to 1.50 lower and some late sales 1.50 lower. No 1-2 210-250 lb cattle quoted 49.50 to 50.00 with 31 head at 50.25. No 1 cattle 3200-2800 lbs range 47.50 to 48.00.
MENTIONED IN THIS ARTICLE
Des Moines
UPI
Midwest
Joliet, II
Sioux City
Joliet, Ilc
Livestock Market Reports From Webster and Omaha
UPI reports Friday hog and cattle trading with Webster noting steady sow prices and hogs around 300 head, while Omaha shows varied hog weights with prices from 43.50 to 49.00 per cwt and mixed cattle and calves demand. overall activity described as steady to uneven with some large lots and lighter slaughter participation.
Uranium Underworld of the American West
National Geographic highlights that more than a quarter of the world’s uranium lies beneath the western United States, with major concentrations in New Mexico and Wyoming, in a special energy report.
MENTIONED IN THIS ARTICLE
United States
New Mexico
Wyoming
National Geographic
Special Energy Report
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