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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jul 29, 1995
Page
12
The daily report shows Friday July 28 light sweet crude with estimated sales of 22,897, following Thursday with 41,962 sales. Open interest rose to 139,334, up 30, reflecting continued market activity.
Grain brief from Fort Worth lists soybean meal at 5.55 to 5.65 per cwt and 6.07 to 6.20 per cwt in Fort Worth markets. Packed with price ranges, the note reflects commodity trading activity and regional pricing.
Kellogg Co reports a 10 percent drop in second quarter earnings to 135.9 million or 62 cents a share as a 52.8 million pretax restructuring charge trims results. Excluding the charge, quarterly earnings rise 11 percent with global cereal volume up 3 percent and U.S. market growth returning. Langbo cites efficiency gains and a 20 million annual savings starting 1996 from staff reductions and streamlined operations.
Thursday cattle figures show 34,228 head confirmed, 54,140 week age, and 115,183 week to date at Amarillo. Slaughter steers priced 60.00 to 62.00, heifers 60.00 to 62.00 with weights 1100 to 1250 pounds. National Stockyards reports mixed U S cattle and hog quotes with hogs steady, sows up, and week receipts 4,253 in Omaha. Cattle and calves listed as none at Omaha.
Gasoline futures on the New York Mercantile Exchange rose as Texas refinery fire concerns buoyed prices. Unleaded August delivery settled at 53.75 cents a gallon, up 0.6 cent, with attention on Amoco refinery losses and its 120,000 barrel per day catalytic cracker of 433,000 bpd output.
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