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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Jun 09, 1963
Page
12
Stocks posted a loss for the week as the Dow Jones average neared the 734.91 high set in December 1961 but closed at 722.41 amid heavy volume. The week saw 27,312,060 shares traded, the busiest since early December, with the AP average down 2.6 points and bond prices easing as credit conditions tighten and margins rise.
East Palo Alto California AP reports a traffic jam on Bayshore Freeway caused by numerous cans of black linoleum glue spilling from a truck trailer. Police and motorists faced long delays as crews worked to clear the roadway and remove the sticky mess.
Cotton futures finished the week 10 cents higher at 95 cents. Trading remained cautious due to uncertainty over new legislation and a potential delay in 1963 crop deliveries. Despite light demand, small buyers and scarce offerings supported prices as exports improved but overall USDA prospects deteriorated, with season totals around 3.0 million bales versus last year.
Austinville stops at Crow's Grocery nine to nine thirty. Neel Baptist Church nine forty five to eleven. Danville Post Office eleven thirty to one. Salem Church one thirty to two thirty. Falkville Library two forty five to three forty five.
Southeastern farmers saw strong to higher prices for hogs and feeder cattle while slaughter calves broilers and some feeders sold lower. USDA reports price shifts across Georgia Florida Alabama Nashville Louisville and other markets with hogs at 16 to 18 dollars in several southern plants and broiler prices slipping. Egg prices held steady to slightly lower with ample Southeast supplies and buyers gradually absorbing available stock.
In Chicago, grain futures last week kept largely firm on long term outlook with modest net changes. Corn rose cautiously as traders awaited possible policy shifts to ease surplus stocks, while distant wheat gained up to four cents. No. 2 yellow corn topped $1.28 per bushel cash, highest since Sept 1959, amid weather tied speculation and depleted subsoil moisture in some areas. Wheat and oats posted small weekly advances with July contracts showing modest gains.
Spot cotton prices fell 6 points in the week ending June 7 in Atlanta Georgia. Middling 1inch cotton averaged 34.06 cents per pound across 15 principal markets, down from 34.12 a week earlier and 34.00 a year ago. Trade volume reached 8,930 bales at 15 markets, vs 34,400 a week earlier and 73,000 a year ago, with mills showing demand for medium and higher qualities for prompt delivery. New-crop sales remained small near bid levels, totaling 3,173,100 bales under the May week’s pace.
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