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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 30, 1979
Page
22
United Press International reports a wide list of stocks with Abbott Laboratories and Aetna among notable gains and declines. Major industrials like Alcoa Amex and Ford Motor show varied moves as traders scan for direction at 10 30 a m.
Amex reports nationwide composite prices for selected stocks as of 11 20 am according to United Press International sourced from The New York Times.
Stocks of nuclear power related firms declined on Wall Street as radiation from the Three Mile Island plant near Harrisburg, Pennsylvania, prompted selling. General Public Utilities fell to 16.25, J Ray McDermott down to 19.50, Westinghouse 19.25, Combustion Engineering 37, Kerr McGee 52.37 while Columbia Pictures rose to 25.25 on hopes the film The China Syndrome would boost interest.
Washington reports proposed base closures and job cuts across 36 states and DC affecting 44 500 positions while 13 states would gain net jobs. Ohio Florida Iowa New Jersey Texas color the debate as congressional leaders seek meetings with Defense Secretary Brown to assess savings and hardship. Fort Dix and Goodfellow AFB figures feature in protests and strategic concerns.
Cedar Rapids hog market Friday rose 50 cents from Friday’s butcher close with packers steady to 550 pounds and sows above 550 pounds. Bulk country and plant delivered butchers at 44.00 to 44.50, sows to 550 pounds at 39.00 to 39.50, over 550 pounds at 38.00. Cattle top for Thursday was 70.00 for steers 1000 to 1200 pounds and 69.00 for 900-1050 pound cattle. Sheep market stayed steady with lambs at 64.00-66.00 for shorn and 60.00-464.00 for wool lambs, with 105+ pound lambs discounted.
UPI reports Des Moines hog prices with slow trade and very good demand. Butchers rise 1.00 to 1.50, some 2.00 higher while sows hold. Prices vary by weight class with No 1-2 buyers at 44.50 to 45.50 for 200-230 lb and 230-250 lb, others listing 42.75 to 45.25 for 250-270 lb and 41.00 to 43.75 for 270-300 lb. Sows 39.00-41.00 for 300-600 lb. Receipts estimated 55,000 today, 15,000 Saturday, 46,000 Thursday, week total 62,000.
Sioux City AP report shows live hog market firm with opening bids 2.00 higher and close 2.25 to 2.50 higher. Prices listed for U S 1-2 200-250 lb hogs at 46.75 to 47.50, U S 1-3 250-270 lb at 46.00 to 47.25, 270-290 lb at 45.00 to 46.50, sows 50 higher at 41.50 to 42.50, no cattle reported.
On Friday morning at Cedar Rapids Processors prices fell for No 2 corn March to $2.295 and new crop to $2.285 while April May prices rose to $2.30 and $2.32. White corn held steady and oats also unchanged. soybeans traded modestly with March to May at $7.415 and new crop at $6.785.
Des Moines reports a slow beef market with demand fair. Choice steer beef rises 1.00, choice heifer beef climbs 1.00 to 2.00, cow beef not established. Pork also weak to steady, with fresh loins, skinned hams, and belties showing 1.00 to 4.50 higher in many weight ranges.
The dollar steadies against most European currencies and inches higher in Tokyo amid BoJ intervention. U.S. trade deficit for February at 1.3 billion supports the dollar while gold prices dip in Europe. yen near 209 per dollar as oil costs pressure Japan. London pound at 2.0603 dollars.
Stephen Howe, a 27 year old scientist from Wolverhampton, refused his employer’s demand to attend a Belgium conference, citing home duties and discomfort with foreign food. The firm fired him and an industrial tribunal rejected his appeal, with the chairman calling him intelligent yet immature in some aspects.
Washington UPI report says U.S. negotiators failed to pierce Japan's import barriers and suspended top-level talks. Robert Strauss called the collapse a classic confrontation as Nippon Telephone and Telegraph upholds buy Japan policies and excludes U.S. firms from bidding on about 3 billion dollars of yearly telecom contracts. No resumption date set.
USDA bulk selling prices show unchanged butter delivered to Chicago with 93 score at 116.00 and 92 score at 114.25 to 114.75. E99 prices to delivery weaker. Retail carton prices listed for Grade A extra large 70-73, large 69-71, mediums 64-66.
In Joliet Illinois cattle sales failed to establish a market as hogs traded 1.00 to 1.50 higher. Barrows and gilts 200 to 240 pounds brought 45.25 to 46.00 for Nos 1 2. Heavier 270 to 290 pound pigs sold 43.00 to 44.00. Monday's projections show 2,500 cattle and 1,400 hogs.
Brian Hanson, 18, of Decorah escaped injury when his car struck cattle on U S 52 about a mile north of Decorah. One cow owned by Darwin Severson was killed. Hanson’s car damage was about 800 dollars. The cow’s value was 700 dollars. No charges were filed.
In Thursday competition at the Kenwood Park Presbyterian Church the North-South pair Margaret Blencoe and Vi Schenken won first with Micki Siewer and Sue Butschi second. East-West winners were Lorraine Golembiewski and George Kanellis first with Lydia Leipold and Ruth Helm second. Overall champions were Mrs. Golembiewski and Kanellis. Next game is Thursday at noon at the church.
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