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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 27, 1974, Lethbridge, Alberta 10 LETHBRIDGE HERALD Saturday, April 27, 1974 Chicago markets rmCrHil) (AIM Silver lutures lorfed ahead nearly W> cents an ounce on major excliaimes the pasi week. Cocoa anil cotton lutures also trended higher Corn and oals lulures were strong at week's end. but Chicago and gull hard red wheat prices were mixed. Soybeans and meal retreated in price but soy oil advanced on the board of trade Live catik1 and liugs. pork bellies and shell epgs all trended lower as cash prices eased and marketings improved. The demand for silver futures was strong Most of the speculative clement appeared to have been influenced by reports thai Mideaslern oil money was becoming involved in silver futures purchases along with Texas oil money. Grain prices on the board of trade had been relatively strong through the early portion of the week, but some profiv-taking took its loll at Thursday's session Before that, however, a strong influence on prices was a government report showing that corn, wheat and soybeans stocks, as of April 1. were sharply lower than a year earlier. The wheat slocks figureWas the lowest for the dale in 22 years. Soybean oil was on demand by commercial interests, some of whom were hedging against sales abroad. Soy meal futures weakened on reports thai t'c-ru's lishmeal operations were improving each week. Fishmeal competes with soybean meal in world markets as a livestock and poultry leed additive. At week's end, Chicago wheat was I1 a cents lower to I higher. May 4.10: gulf hard rod winter wheat unchanged to 1 lower. July 4.23; corn to 18 higher. May 2 85. oals were 8' i to II'2 higher. May I 36'2 and soybeans were 2 lo 9 May'5.60. Soybean oil was 15 lo 343 points higher. May 30.75 and soybean meal was 150 to 900 points lower.May 112.50. Grain quotations Friday: Wheat May 4.10: Jul 397: Sep Dec 407. Mar 4.10. Corn Ma? 2115. Jul Sep 'J.78'.'. IVc 2.60: Mar 2 li-1. Oals May Jul Sep I Dec'l.47. Mar 1.41'.. Alberta grain EDMONTON The Alberta Grain Commission reported Friday that while wheat prices weakened at some stations, oilier grains remained comparatively stable. The weekly report said Lelhbridge prices weakened on wheat bul strengthened on oats and barley as lollows: wheat S3.50-S3.80. oats SI HO and barley S2.40-S2.50. 1 Around Medicine Mat Brooks locality quotations are wheat S4.50. oats S1.SO-S1.65 and barley 52.50. The report from Calgary shows oats and barley off slightly as lollows: wheat oats S1.30-S1.60. and barley S2.30-S2.45. Buyers in the lied Deer area are bidding wheat S3.25-S3.90, oals S1.50 and barley S2.30-S2.40. Bids in ihe Vermilion district dropped on wheat and remained unchanged on oals and barley as lollows- wheat J3.25-S3.50. oats SI.15- S1.40 and barley S2.00-S2.30. Advice from Edmonton reporis all grains strengthening with wheat S4.10. oats S1.40-S1.55. and barley S2.40. No change on bids in the Peace River district with wheat S3.40-S4.00. oats S1.25-S1.40 and barley S2.20-S2.30. Dollar MONTREAL (CP) U.S. dollar in terms of Canadian funds at p.m. Friday was up 1-5 at S0.96 11-50. Pound sterling was up 1 93-100 at 52.32 47-100. In New York, Ihe Canadian dollar was down 11-50 V ?i.D3 Pound sterling was up 1' j at S2.41 3- 5. 300 to 500 HOGS SELL Tues., at 1 p.m. also Dairy Cows Baby Calves Sheep Market Hogs Shipped Daily I Live Weight and Dressed Basis I Special Rancher CALF SALE YEARLING FEEDER AND FAT CATTLE and CALVES Thursday -1 p.n, 500-HEAD-500 CONSIGN TO ALBERTA SUMMER 2 BREED SPECIAL SALE Mon., May 24 1 p.m. SIMMENTAL MAINE ANJOU consignment of quality cattle are welcome to this widely advertised quality 2 Breed Sale. Listings dead- line May 10th, 1974. ________ Consignors and Buyers! ATTEND WESTERN CANADA'S TOP HORSE SALE Lethbridge Exhibition Pavilion Expecting 300 Horses REGISTERED HORSES ALL BREEDS Friday, May 3 7 p.m. GRADE HORSES Saturday, May 4 10 a.m. (Listings accepted till sale time) BUYERS EXPECTED FROM EUROPE, EASTERN CANADA AND LOCAL SPECIAL! 10 TOP QUALITY APPALOOSA HORSES from one owner SELL FRIDAY NITE 1 REGULAR MORGAN YEARLING FARMERS. DEALERS. STOCKMEN. CONTRACTORS! Consign your new and used iquipment lo "ANOTHER" GIGANTIC EQUIPMENT AUCTION SATURDAY, JUNE 8-10 a.m. A strong demand exists tor: Trucks, Tractors, Construction Irrigation, Feedlot, Tillage, Harvest Hiying Equipment THROUGHOUT WESTERN CANADA. Widespread advertising coverage and promotion and reasonable selling rates make this sale one ol the most effective in merchandising your equipment. LIST NOWI CONTACT: TONY VIRQINILLO, Manager Phone 345-4291, Coaldale PERLICH BROS. AUCTION MARKET LTD. Located in the Hub ol Southern Livestock Induitry 3 mllM ol Lethbridge on Highway 3 and Vi mile BOX 1057, LCTHiRIDOE T1J4A2 Day or Night 329-3101 NEW PHONE NUMBER 329-3101 Company No. 071485 AUCTIONEERS: JOE PERLICH BOB BALOG TONY PERLICH LIC. LIC. 087154 LIC. Many a yarn spun here Textile yarns of fibre glass are wound down from large tubes at the top of these twist frames onto the bobins below at the PPG Industries plant in Lexington, N.C. The plant produces fibre glass for textiles and rubber piastic addition to creating d pleasant pattern picture with its machinery. Profit tax fear keeps stock down By SANDRA INGALSBE The Canadian Press Canadian slock markeis recorded a sixth weekly decline as fears o[ a new federal tax on excess profits pushed some major indicators lo their lowest levels in two years. Markets, which had started to slide in mid March as a result of rising U.S. interest rates and continuing high inflation, reacted sharply to news that the government will introduce a bill next week aimed at limiting companies from making undue profits. Many companies, particularly mining and oi! firms, have reported sharply higher first-quarter earnings and may be prime targets for such legislation, analysts said. At Toronlo. the industrial index, widely based indicator of market trend, touched a 26-month low Thursday of 196 75. The market rebounded slightly Friday to close the week al 197.68 down 8.77. The index has lost about 29 points during the last six weeks. The Montreal market Thursday also Attention Cattlemen Always short of valuable time during Spring seeding? -We have the staff, time, facilities, and ex- perience to feed your livestock -Hire experienced help this spring. SHIPWHEEL CATTLE FEEDERS LTD. Box 2289 Phone 223-4333 Located 4 miles north ol Taber on Highway 36 and miles East REGULAR CATTLE SALE EVERY MONDAY 11A.M. REMEMBER... HOG SALES every WEDNESDAY We will be assembling Market Hogs (or the Marketing Board and sell Weaner and Feeder NO HOGS WILL BE SOLD MONDAYS REGULAR CATTLE SALES WILL CONTINUE EVERY MONDAY Don't be content to accept one oiler al home, consign your live- stock to bs, where you are guaranteed to have the Auction Ring full ol Buyers to bid on your product. 6th ANNUAL SPRING HORSE SALE Saturday, May 11 at p.m. Llillnga Invited PRAIRIE LIVESTOCK LTD. PHONE 223-3921, TABER DAY OR NIGHT Auctioneer-. JOHNNY CHARLTON GARY JENSEN Ottawa OTTAWA (Cl'i Receipts of slaughter cattle and calves at Hie 10 public stockyards were up 3.450 this week to 24.050 head. In Toronto, an uneven demand lor slaughter steers coupled with heavy supplies resulted in early losses of and additional losses of 50 cents al the close of trading. A-l and A-2 heifer prices also dropped al SI at closing D-i and cow prices were uneven. Mid-week gains made up for early and closing price declines. In western centres trading for all classes of slaughter cattle generally was active with A-l and A-2 steer prices steady lo S2 higher. Calgary was the exception with prices up 50 cents at the start of trading then down al mid-week. In Winnipeg prices for top-grade heifers were steady while Alberta centres reported prices dropping SI lo SI.50. Vealer call prices declined lo in Toronto while all other centres reported sleady prices and active trading. TORONTO STEADY Doth Toronto and most western centres reported sleady prices for feeder cattle and calves. But in Edmonton prices for all classes, excepl for slecrs of more ihan 750 pounds, increased to Tkc Herald- Llvestock Hoceipls of sheep and lambs this week dropped 725 to 1.375. Now crop Uimbs ituini'il in Toronto at mid- week but were steady in all other centres Index 100 lion prices dropped 50cents ;i( niidAvoek iii Toronto while western com res reported llurluatinj; prices all week and closing losses of 75 cents to SI. STOCKYARD QUOTATIONS Slaughter cattle, steers A-l und A-2: Calpury ICdiiionlon 44-45. Saskatoon 44-4G: Winnipeg Toronto Montreal 44-45.75. lleilers. A-l and A-2: Calgary 44- Kdmonloi] 42-43.50: Saskatoon 42.75-43.70: Winnipeu42-44: Toronlo43- 45. 0-1 and D-2 cows: Calgary 35.50-37: Edmonton Saskatoon 35-37.25; Winnipeg 37.50-38.50: Toronto 36-37. Slaughter calves, good and choice veal: Saskatoon 50-SO; Toronto 51-60: Montreal 61.50-72. Feeder steers of more than 750 pounds: Calgary 40-46.50: Edmonton 43-48: Saskatoon 35-46: Toronto 48-53. Feeder steer calves 401-575 pounds: Kdnionton 50-56: Saskatoon 42.75-51.75: Winnipeg 50-55: Toronto 54-59. Good lambs: Calgary 40-50: Toronto Index 100 hogs dressed: Calgary 37.35-38.25: Kdrnonlon 37.30-37.45; Saskatoon 39-39.55: Winnipeg 39.45- 40.20: Toronto 41.75-4340: Montreal 41.32-41.93. Perllch Business Winnipeg grain touched its lowest levels sinee July. 1972. The composite index was off 9.117 lo mi the week. All Toronlo indicators of trends of resource-related issues were sharply lower on Ihe week. Besides uncertainty about Ihe proposed federal legislation, recent measures by several provinces lo increase taxes on resource induslries have discouraged investment, analysts say. The base metal index was oil 3.52 to 89.89. the gold index 52.87 to 474.04 and weslern oils 1922 to 2211.18. The close on base metals was a low since last December and on western oils since July. 1973. Performance of the New York markel was also a depressing influence, on Canadian markets. The Dow Jones average of 30 industrials fell 2526 to this week Analysis, attributed the decline largely to concern over the latest prime lending rate increases, inflation and an increase to eight per cent from 7 5 pc-i cent in the Federal Reserve Hoard's discount rale. Ihe interest rate charged on borrowing by banks. MARKET RALLIES The market rallied a little Kriday after President N'ixon said the American economy is strong and will move forward in the second half. Many analysts say lhat despite some improved economic forecasts and a wide range of good quality stocks now- selling at low prices, markets will remain under pressure until inflation and interest rates ease. Trading was light lo moderate at Toronto this week with 12.16 million shares changing hands for a value ol S97.09 million, up from 10.89 million and million last week. Volume on the Montreal markel was million and value S-13 million compared wilh million shares and SHI million. Currencies MONTREAL ICP) Friday's t'oriMRn exchange selling rales supplied by the Hank of Montreal: Australia dollar 1.4425 Bermuda dollar 1 02 China renminbi .5000 Denmark kroner .IBM Kranee franc .2020 Germany mark 3'JIO Italy lira .001555 .Japan yen .OIBS4U Mexico peso .OROO Spain peseta iHtiH Iranc ..'i270 linilecl Slates dollar .Mill) United Kingdom pound I'.S.S.Ii. ruble Quotations in Canadian funds. Dividends By TIIR CANADIAN PRKSS Dividends ;iro unless noted Abitibi Paper Co. Ltd., 7'2-per-ccnl ninuilaliv'o redeemable pld. series A. !W i ccnls. Juno I. record Slay 6. AlmincxLtd., 12 cents, interim, June '11. record June ,'t. Bell Canada. pfd Sli cents. Juno lh, record May H. Cnrliy Distilleries Ltd., non- volinp class H. cents, soim-annually. Juno 1. record May Giant Yellouknifc Mines Ltd., 10 cents, interim, plus an extra H) cents. June 2li. record May 25. fiult Oil Canada Lid., IS cents, plus an exlni 10 cents. July 2. record May Orcal Wcsl Life Assurance Co., S2'a cents. June 1. record May 16. HuRhcs Tool Co., 10 ccnls, U.S. funds. May III. record May 7. Oshana Group Ltd., class A. 8'2 cents. May 17. record May 2; class A. 8'j cents. July 31. record June 28; class A. cents. Sepl. 27. record AUR. class A. cents. 111. record Nov 15. Pacific rclroleilm Ltd., H7.5 cents. increase ol 7'i- cents, June 211. record June Tt, Snngnmo Co. Ltd.. 7T> c enis June record Jmi" 12. Simpson's Ltd., .'i M-uls. June M. Kinid WINNIPEG (CP) Prices were mixed at the close ol trade Friday on the Winnipeg Commodity Exchange in a light trade. Flax was up from 20 to 28 cents a bushel and rapeseed Vancouver was up from 161'a to 10 cents. Rapeseed at the Thunder Bay position, however, was mixed, ranging from 20 cents higher in May lo 14 cents lower in December. Rye was also down, from 12 to cents. Thursday's volume of trade was 810.000 bushels of rapessed, of flax and 681.000 ot rye. Closing prices: Flax: May 20 higher 10.54B; July 24 higher 9.94A; Oct. 23 higher 9.34A: Nov. 28 higher 9.02A. Rapeseed Vancouver: June 16% higher 7 08B: Sept. 11 higher 6.73; Nov. 10 higher 6.50A; Jan. 15 higher 6.35A. Rapeseed Thunder Bay. May 20 higher 6.88B; July 8 higher 6.62A; Oct. 1 higher 6.33B; Nov. 1 higher 6.23B: Dec 14 lower 5.91A. Rye: May 12 lower 2.58'iB. July 9% lower 2.58'i.V. Oct 9'z lower 2.58'iA; Dec. 4'4 lower 2.61'iA. Rapesced Rapeseed 4 '2 '.2 Dec Bonds HOW) PRICKS Sl'ITLIEU BY MIDLAND D01IKHTY LIMITED GOVERNMENT OF CANADA BONDS Oct. l'V5 95.25 95.35 8'. .lul 1 78 97.50 98.00 Sept 1 83 72.87'2 73.12'2 5V. Sepl 1 92 7000 71.50 3'. Sepl 15 Perp 33.00- 35.00 B'-'. Apr. 1 75 97.85 97.95 7' Jul. I 75 97.85 9800 PKOV. AND PROVINCIAL GUARANTEED BONDS: Alia 8V i '90 95.50 96.50 Ont 7'.; '88 82.50 83.50 Onl H ,9'i '94 96.00 97.00 N'H 9V. '90 99.00 10000 Mid. '74 99.50 '92 73.50 74.50 ijuo 7V; "74 98.00 Alia 8V; '90 96.00 97.00 Man II 8', '91 86.00 87.00 Sask 8V: '90 9450 95.50 Nfld 9'2'; '90 98.00 99.00 ACT '74 99.00 MGT 8'; '74 99.00 Alia Gas Alcan BC For RC. Tel Hell Tel INDUSTRIALS: 9V; '90 93.00 9V; '91 96.00 9V.. '92 97.00 9V, '90 97 00 9V, '79 99.00 Bell Tel 9V. '93 96.00 CP Ltd 8V; '89 98.00 CP Sec 9V; '90 Cdn Util 9V, '91 96.00 CWNG '90 97.00 (iulf 8V; '90 98.50 In Pr Pipe 9V; '90 96.00 Massey 9V i '80 96.00 Noranila 9V. '90 94.00 Infl Nick 9V: '90 95.00 N C Gas '91 97.00 Mcel Cda 9'Y; '90 95.00 Tr-Cda Pipe 9V; '90 97.00 TrCda Pipe 10', '90 9800 West Tr '93 83.00 CONVERTIBLES: Alia Gas 7V, '90 118.00 128.00 Con Gas '89 75.00 78.00 Ackland '88 88.00 93.00 West Tr C '88 72.00 75.00 West Tr 7'2'. '91 95.00 97.00 Gold prices LONDON (AP) Friday's closing gold prices in U.S. dollars an ounce: London 169 00; Paris Closed: Franklurt 170.71; Zurich 170.00 asked; Hong Kong Missing; Beirut Missing. There were 1.680 head of livestock sold this week at 1'crlieh Bros. Auction Market Lid. Receipts included cattle and 430 hogs. Cattle market steady to higher on good quality Iceder and replacement heifers. SLAUGHTER CATTLE and cows 32 to 36.10. cows 2B to 32. Shelly cows 20 lo 27. Bologna bulls 33 to 39. REPLACEMENT CATTLE Steer calves 250-400 Ibs. 50 to 56. Sleer calves 400-500 Ibs. 50 to 55 Steer calves over 500 Ibs. 48 to 52. Plain quality slecr calves all weights 45 to 48 Feeder sleer over 800 Ibs. 47 lo 49.75. llolstein steers 37 lo 39. Holler calves 250-400 Ibs. 40 lo 44. Heifer calves 400-500 Ibs. 41 lo 45. Heifer calves over 500 Ibs. 42 lo 47.25. Plain quality heifer calves 35 to 40. Feeder heifers 42 to 45, Feeder cows 30 to 34. Good quality cow calf pairs 450 to 485. Bred cows and heilers 350 to 460. HOGS, DAIRY CATTLE Market hogs dressed weight 36.60 to 37.55. Good woancrs 17 to 26, Light weaners 10 to 16. Feeders under 100 Ibs. 20 to 30.25. Feeders over 100 Ibs. lo 43. Bred sows and gills 75 lo Baby calves 62 to 100. Lethbrldge Sales Monday to Kriday: 90 cattle. 471 calves. 1.719 hogs. 152 lambs. SUMMARY Butcher cattle prices about steady. Replacement cattle steady lo strong. Trade active. All classes ol slaughter cattle meeting good demand at about sleady prices Bulls steady. The quotations include the beet quality premium. Medium and good stockcrand feeder cattle selling readily at steady to strong prices. SLAUGHTER CATTLE Steers Al and Heifers: Al and A2 48-49.50. Cows: and D2 35-36 60. D3 31-34.80, D4 29-31. Bulls: 36 -37.25. REPLACEMENT CATTLE Good heavy feeder steers over 650 Ibs. 46.25-50. Good feeder steers 500-600 Ibs. 43-48.10. Good light steers 400- 500 Ibs. 42.25-51. Good feeder heifers over 550 Ibs. 41.25-44.90. Good Iceder heifers under 550 Ibs. 3975- 43.75. Feeder cows 30-33 with heilery kinds lo 35.30. Cow and calf 325 430 per pair. HOGS AND LAMBS Bulcher hogs sold this week al Ihe -Lelhbridge Yards base price There were 3'JO head sold for export al 27-29.25 liveweight. All classes of weaner and feeder hogs meeting good demand at about steady prices. Wciiners 15.25-22.25. Light feeders under 100 Ibs. 24.50-27.50. Heavy feeders IOO-K10 Ibs. 28-31.50. Heavy leeders over 130 Ibs. 36-39.75 all prices per head. Light leeders under 100 Ibs. sold Irom 32.75-43.50 per cwt. Heavy leeders over 100 Ibs. sold from 24.75- 26.50 per cwl. Bred sows and gilts 65- 82.50. Hoars 97.50-125 per head. Good lambs 39-40.50. Hog prices EDMONTON (CP) Average closing prices Friday provided by the Alberta hog producers marketing board. Thursday average in brackets: Edmonton: 38.18 Calgary: 38.31 Red Deer: 38.21 Lethbridge: Nil Fort Macleod. Nil Total hogs sold average 38.26. No sows sold. Gold futures WINNIPEG (CP) Gold lutures, U.S. funds, Winnipeg Commodity Exchange close Friday. Apr 170.10B: Jly 74 174.40B; Oct 74 181.00; Jan 75 186.75, Apr 75 192.50A. Thursday's volume: 226 contracts. Beef futures WINNIPEG (CP) Live beet futures close Friday. May 52.80N; Jly 54.50N; Sep 54.DON, Nov 54.95A. Thursday's volume: Two conlracts. PICTURE BUTTE AUCTION MARKET Ideally located in the centre ol a large cattle feeding and hog raising country SPECIAL! 200 COW-CALF PAIRS SALE Tuesday, April 30th p.m. Regular Feeder Cattle Sale Wednesday, May 1st at p.m. 500 HEAD Highlighted by 4G Holstein 600 to 700 Ibs. Irom one owner. Saturday, May 4th at p.m. HOG AND DAIRY CATTLE SALE Market Hogs assembled Monday thru Friday For information and 11 M Sir II I QIC Phone 732-4400 contact O IIVI Ol tlWC U HI 9 PICTURE BUTTE Picture Butte Auction Market Picture Butte, Alberta Auction Market located 16 milea north ol Lethbridge on Highway 25 MacLEAN LIVESTOCK LTD means Sound Order Buying Service! DUE TO 1. Direct buying of fresh rancher yearlings and calves 2. Large weekly shipments of feeder cattle from: (a) Central and Northern Alberta (b) Satkatchewan (c) Interior Britiih Columbia 3. Complete coverage of local auction markets. Employ Us to Beef up Your Profits! Phone Mac Maclean 732-4211 Box 419-Picture Butte ;