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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Jun 07, 1959
Page
3
The Chicago grain futures market saw modest gains despite a string of bearish pressures. Oats and old crop corn held fractional advances while new crop soybeans fell sharply on Friday, and wheat moved on a narrow range amid uncertain positions.
Market rundown shows pulpwood at 12.50 per cord and yellow shelled corn at 1.36 per bushel. Cattle receipts largely feeders near 800 pounds at 25.50, slaughter yearlings 27.50, cows 20.00, stockers 25.00 to 30.00, feeders 24.00 to 27.00, calves 25, week high 232.00. Hogs steady around 16.00 to 17.00, lambs 25.25 to 25.50, ewes 2.00 to 6.00, no sheep arrivals.
The AP average for New York Stock Exchange listed stocks fell steeply, the largest weekly drop since 1957, closing at 225.80 after a 4.50 decline. Volume shrank to 14.79 million shares, the lightest since August 1958, amid cautious trading and uncertainty over possible policy moves by the administration to raise the 4 percent rate.
The article notes buyers faced storage limits last year driving sales. storage has risen about 15 percent. Wheat, corn, oats, rye and soybeans show varied moves with July contracts cited at multiple price ranges.
Southern producers saw prices ease for cattle hogs broilers and spring lambs with stocker cattle softer than slaughter classes. Hog prices fell mainly 25 cents per hundred at Southeast markets, but rose slightly in Memphis and Nashville. Broiler prices weakened amid heavy production while spring lamb prices slid early then recovered. Closing figures show varied gains and losses across Atlanta Memphis Nashville Louisville and Montgomery for hogs cattle and lambs.
New York cotton futures ended mixed after a tight range with nearby July seeing support from reduced certified stocks and fewer loan foreclosures. Exports for the week ending Tuesday were the lowest since early March at 39 000 bales, down from 58 000 last week and 100 000 a year ago.
Senator John Sparkman told Army Aviation Assn listeners that the United States trails Russia in military strength in several key areas. He warned the nation must maintain military superiority and lead in effective weapons during the cold war.
U.S. government bonds moved lower this week along with corporate securities after two weeks of mild gains. The trend continues for corporates in their 10th straight week of decline as volume on the New York Stock Exchange dropped to 2.55 million dollars per value from last week and a year ago.
Cairo reports the first Arab made military rocket designed by an Arab engineer has been successfully tested. No further details were provided by Al Akhbar.
June 2 estimates place cotton exports at about 2.371 million bales, less than half of the 4.829 million bales shipped abroad by this date a year earlier, signaling a sharp decline in overseas demand and production pace.
Valley Livestock reported total sales of 60000 last week with 486 head sold. Top calf Pegy Grange Falkville weighed 230 brought 31.25 to Neuhoff Nashville. Top stock calf Floyd Mitchell Athens 240 sold 39.75 to Ted Gerber Florence. Top bull Neal Hodges Athens 1070 weighed 23.80 to Valley Pride Packing Huntsville. Top milch cow H C Holland Moulton 193 to Leon Hill Massey. Decatur Market top hogs 15.75.
The bower birds of Australia decorate their nests using shells and other bright objects to attract mates and display their nesting style in natural behavior studies.
The American Cancer Society announced a six year project to enroll one million Americans this fall to test links between daily life factors and cancer. The study will ask about work, family history, childbirth, breast feeding, smoking, diet, exercise, and various medicines to assess environmental contributions to cancer risk.
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