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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 10, 1982
Page
26
In Cedar Rapids and Waterloo markets, hog futures were mixed with price quotes around 40 to 44 dollars per hundredweight. Producers reported higher cash prices for hogs and oats steady, with new crop corn and delivery terms noted for Monday trading.
Des Moines market notes show hens and eggs with steady demand and prices. Hogs rise slightly amid active trade while dressed meats ease. Webster City report lists hogs strong with No 2 and No 3 classes priced per weight, larger sows up to 48 dollars per hundred.
Grain prices moved higher with cash grain quotes for Wheat No 2 hard red winter at 3.52n, Corn No 2 yellow at 2.61 44n, Soybeans No 2 yellow at 6.01n. Hog and cattle futures rose with Tuesday Joliet livestock bids showing gains up to 100.
Kenneth E. Shelly Jr., 32, appeared in U S District Court in Cedar Rapids on charges of falsely certifying 7143 bushels of corn for a Commodity Credit Corporation loan when storage was about 3492 bushels and disposing of 2776 bushels pledged as security. He faces fines up to 10000 dollars and up to five years in prison per count. He was released on his own recognizance and arraignment was continued to March 17.
Secretary of Agriculture John Block assured Senator Grassley the Reagan administration would not threaten the farm credit system. Deputy Secretary Richard Lyng dismissed reports of a proposal to stagger the FCS as purely speculative and unfounded.
At Hawkeye Downs Cedar Rapids top prices slipped as exhibitors faced a softer market in the Tri State Draft Horse Sale. David Adams of Britt notes prices are 10 to 15 percent below last year while per formers like Eddie Freitag chase last year’s highs and breeders push for strong show results across 11 states and Canada.
Futures for new crop corn and soybeans closed at recent lows amid weak gold and crude oil trading. Merrill Lynch trader Lee Perkinson in Cedar Rapids noted the Dec 1982 corn contract traded from 2.71 to 3.09, with deflationary signals weighing on prices. Wheat, oats and soybeans mixed with late short covering, while Brazilian soy output was trimmed.
Ten Cedar Rapids area farm families have been named nominees for the 1982 Honored Farm Family program. announced by Holly Klima of the Cedar Rapids Marion Area Chamber of Commerce Agriculture Bureau. The dinner will be March 16 at 7 p m at the Sheraton Inn with the winner revealed that night. Reservations for the $13 50 dinner are due Friday by calling Harold Ewoldt at the chamber.
Iowa Secretary of Agriculture Robert Lounsberry said an official will travel to Tokyo this week to attend a trade conference aimed at boosting relations with Japan, Iowa’s top export customer. Gail Danilson, director of Marketing Division, departs Thursday for the event through March 19.
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