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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 20, 1980
Page
24
United Press International lists stock prices and performance as of 10 30 pm with figures for Abbott Ampex Atlantic Richfield and many others across multiple markets. The report notes P E ratios and market movements, reflecting overall market activity and specific equity values.
Livestock trading shows light beef and pork demand in Des Moines with modest price gains. Steers 600-900 lb rise to 101.00-106.00, choice heifers 101.00-103.00, pork cuts up to 8.50 per lb for small weights and 87.50 for 14-17 lb, with various belly and ham prices noted.
The Dow Jones and Standard & Poor's indices show a dip in the latest session with mixed results across sectors. Trading data indicate modest losses for the Dow components and a slight decline for the S&P, reflecting cautious investor sentiment.
A curious note describes unusually large strawberries linked by stems and sold by the yard in Colombia, while noting a dragonfly eye contains about 15 000 lenses.
Sioux City market reports hogs around 6 000 head with weaker quotes across weights. U S 1 2 on 200 250 lb hogs 37 25 to 37 50. 250 290 lb 33 50 to 37 25. 290 400 lb 30 50 to 33 50. sows 50 to 100 lower. Prices rounded from volume run.
The Cedar Rapids hog market Friday was 50c lower than the prior close on butchers, steady on packers from 400 to 550 pounds and over 550 pounds. Prices for country and plant delivered butchers 200 to 230 pounds were 35.50 to 36.50. Sows 400 to 550 pounds 28 to 29, sows over 550 pounds 26.50. Butchers 230 to 240 pounds 25c off, each 10 pounds over 240 to 280 pounds 50c off, over 280 to 300 pounds 75c off. The sheep market was steady with spring lambs at 60 to 62. Buying hours are 7 am to 10 am, Monday through Friday.
UPI reports Friday hog trade slow with demand moderate. No. 1-2 butchers 200-230 lb mostly 36.00-37.50, eastern Iowa 36.75-37.00, 230-250 lb 35.50-37.50, 250-270 lb 34.50-37.00, 270-300 lb 33.00-36.00, sows 28.00-29.50. Receipts 80,000. Cedar Rapids quotes show corn and soybeans up 2c. oats steady. West North Central reports undertone steady with farm prices up to 8c for some flocks. Omaha quotes hogs 200-240 lb 38.00-38.50, 300-600 lb sows 29.25-29.75.
The Chrysler Loan Guarantee Board postponed a Washington meeting to approve up to 500 million dollars in government backed loans. Officials say progress by Chrysler and lenders toward debt restructuring and consent from banks and insurers is expected to allow a closing early next week.
The House approved a trucking deregulation bill by 367 to 13 in a move that aids President Carter in reducing federal regulation of transportation. The bill, likely to win Senate approval Friday, would be signed soon. The Interstate Commerce Commission has been governed by the 1934 trucking law.
The Ford Motor Co Mahwah assembly plant ends operations as 4 000 workers are laid off in an 18 month downturn. The federal government provides a 200000 grant to spur regional economic development. Of 3359 hourly workers only 11 remain for security and mothballing duties.
Detroit based Ward's Automotive Reports says domestic automakers scheduled 126 741 cars for assembly this week, down 3.9 percent from last week and 35.8 percent from a year ago. Truck production rose 57.8 percent week to week but remained 53.4 percent below the year earlier level.
CHICAGO UP I reports savings and loan associations posted a $1.84 billion net deposit inflow in May, still short of the $3.4 billion May 1977 intake and down 46 percent from May 1977. April and March saw a combined $1.9 billion outflow, offset only partly by May gains. The May inflow rose slightly from the depressed 1978 level.
New York shares eased in a push pull session as profit takers and institutions paced purchases before quarter-end. The Dow slipped to 870.47 with declines ahead of gains, oil stocks under pressure amid outlooks for modest two year returns. Metromedia dropped 4 percent while City Investing rose slightly amid a City Investing share purchase activity. Federal-Mogul agreed to buy about 80 percent of Huck Manufacturing at 41 dollars per share.
A federal appeals court upheld an EPA ordered recall of 208000 Chrysler vehicles to fix emission control systems. The ruling rejected Chrysler’s challenge and covers 1975 models with 360 and 400 cubic inch engines, two bar carburetors, and catalytic converters.
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