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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jun 01, 1995
Page
6
NYC AP report notes unleaded gasoline futures finishing higher yet volatile after a midday low as July futures expire. Gasoline settled at 60.04 cents a gallon, August contract at 58.04, July heating oil up 0.41 to 49.35, with crude for August at 18.89 a barrel.
Government threats to fire thousands of Petrobras workers deepen an oil labor dispute. About 50,000 employees have walked out since May 3 demanding a 28.7 percent raise. the Supreme Labor Tribunal ruled the strike illegal. Rationing and service disruptions hit the southeastern coast. airlines detour flights as fuel supplies dwindle.
Texas Panhandle and western Oklahoma feedlot activity shows 2,100 head week by week with 11,900 head for the week to date, slaughter steers and heifers steady to 1.00 lower on light tests as buyers show moderate inquiry. Regional quotes include select and choice steers around 63.00 per 100 pounds and 64.00 in North Plains, with heifers 61.00-63.00 and some 64.00 in higher grades.
National sheep summary reports mixed results with slaughter lambs steady to 2.00 higher in Midwest centers, feeder lambs steady, and direct trading showing varied prices. Midwest daily auction volume reached 830 head in Iowa. prices listed for shorn and new crop lambs across Kalona and Virginia, with weekly slaughter totals around 34,000 to date versus prior periods.
Las Vegas billionaire Kirk Kerkorian with drew his 22.8 billion bid to buy Chrysler Corp. after failing to line up lenders. His 10 percent stake worth about 1.55 billion rose marginally as Chrysler raised its dividend and stock buyback, with no sale of his shares. Chrysler declined to comment. Iacocca was unavailable for a remark.
The EPA says about 180000 1985 to 1990 Jeep CJ 7 Wrangler J10 Grand Wagoneer and AMC Eagle with 4.2 liter engines exceed the 10 g/mile carbon monoxide standard, testing at 12 g/mile. Recall covers PCV hose and choke diaphragm upgrades. parts for 1989–1990 Wranglers to follow. Owners notified. recall work about one hour, free.
President Ernesto Zedillo outlined an ambitious six year program to raise Mexico's growth to five percent annually after the crisis. The plan seeks democracy, anti corruption, rule of law, and poverty reduction through health and education gains amid lingering peso devaluation. Critics doubt job creation specifics amid the 1994 peso crisis and devaluation.
High plains cash grain prices for Wednesday show all grains and soybeans unchanged to slightly lower. Grain sorghum and wheat ranges across Texas and the Triangle area with bids from elevators, while Fort Worth and Chicago reports list export and domestic prices for wheat soybeans milo and corn.
Montreal April development shows Seagram Ltd. led by Edgar Bronfman Jr. plans high risk expansion into entertainment and communications to lift profits. He declines to confirm MCA leadership choices while confirming a deal for 80 percent of MCA Inc. for 5.7 billion and notes the Du Pont stake sale earlier this month.
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