Cotton Prices Rise Amid Growing Confidence
Market report notes advance in cotton prices with higher spots and growing confidence in demand. Analysts point to supple supply and persistent buyer interest supporting the lift.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 03, 1916
Page
11
Market report notes advance in cotton prices with higher spots and growing confidence in demand. Analysts point to supple supply and persistent buyer interest supporting the lift.
Cotton moved upward across market centers with San Antonio buyers bidding 11.85 for spot cotton. Dallas indexed higher by 10 points while other Texas centers held firm. New York spot values rose ten points and futures gained about 50 cents per bale. Government data showing a 475000 bale increase in South consumption spurred optimism. Dallas Fed Bank readiness to finance the 1916 Texas crop cited by Judge Ramsey sparked added market momentum. San Antonio spot prices at local compresses were reported for Thursday deliveries.
The cotton market opened up with gains around 3 to 7 points as Liverpool futures rose on continental buying and liquidation cessation. March 11.9 May 12.10 July 12.22 climbed early, then eased to 11.82 12.02 and 12.14 as near months liquidated and trading slowed with a later rebound on shorts covering.
New York trading shows March at 11.98 May 12.13 July 12.22 October 12.26 and December 13.39 as steady early. Futures later close 6 to 8 points higher with limited daily range and unclear ancillary data due to damaged OCR
Markets imply a Friday opening with a slight rise from six to six points, followed by a 1 pm call. The report notes irregular decimals and unclear figures, with closing values near 11.93 and 13.26 on late trading.
Early trading sparked a 4 to 5 point rise in New Orleans cotton with fresh short selling later thinning gains. Prices slipped 2 to 4 points below yesterday’s close before a river situation buoyed sentiment. By noon trading months were 3 to 4 points up and by 1:30 p.m. net gains reached 7.8 points as demand strengthened.
New Orleans cotton futures opened steady with bids for March at 11.58 and May at 11.87. July and October listed around 11.87 and 12.97. December at 12.22 asked. The market closed 6 to 7 points higher with varied intraday ranges shown in the records.
Spot cotton steady with good middling at 8.994 cents and middling at 7.794 cents. Sales 7000 bales including 700 for export and speculation. Receipts unspecified.
The record shows a sequence of monthly figures labeled Future Diet and Quiet periods for Liverpool, listing percent values from February through January across multiple month pairs. Data includes February to January transitions with varying percentages.
New York cotton prices show a teen seed on September at 9.23 9.24 with total sales reaching 20 900. The report notes mixed movement in futures and spot quotes across the market.
The cold spell boosts potato demand as Irish and sweet varieties sell faster than at any point this season. Brokers report higher grower prices and wholesalers seek up to ten cents per hundredweight more. Sugar prices rise with refiners and growers at odds. Milk and dairy prices ease slightly while poultry demand brisk in eastern markets. Winter wheat and oats in North Texas largely killed by recent cold. spring grain remains in good shape.
Wholesale markets list prices for fresh produce and canned goods to trade. Items include potatoes, onions, tomatoes, citrus, apples, bananas, and dried fruits with per hundredweight, per crate, or per box rates, plus coffee rice sugar flour and canned meats.
At Fort Worth and Kansas City markets cattle remained steady while hogs and sheep softened. San Antonio reported 230 cattle and 148 hogs with prices largely unchanged from yesterday. beef steers 6.00 to 6.60, cows 5.50 to 6.00, calves 6.60 to 7.00, with many cattle billed direct to packers. Shipments to eastern centers were moderate as buyers tightened demand.
Fort Worth market rundown shows cattle receipts around 2000 with varying prices for Reeves stockers cows heifers bulls and calves. Hogs receipts about 2500 with prices mostly 7.60 to 7.88 and pigs 4.50 to 6.00. Sheep receipts around 250 with lambs 8.50 to 9.75 and other categories 6.50 to 8.25.
Chicago trade report lists hog receipts about 44 000 with slow market and varying hog classes from 5 75 to 7 85. Cattle receipts about 6 000 with steady market including native beef steers 6 40 to 9 50 and western steers 6 60 to 8 20. Sheep and lambs receipts around 10 000 with slow demand and lambs 8 50 to 11 00.
St Louis stockyards report February 3 receipts hogs 11 500 market lower pigs and lights 6 90 7 85 mixed and butcher 7 65 9 70 good heavy 7 90 cattle 2 800 market steady native beef steers 7 59 9 50 yearling steers and heifers 8 50 9 85 cows 5 50 7 00 Texas Oklahoma steers 5 25 8 50 cows and heifers 4 00 6 80 native calves 6 00 11 50 sheep 150 receipts market steady yearling wethers 8 00 9 50 lambs 9 00 10 85 ewes 6 25 7 50.
Receipts and quotations indicate hogs at 7.50 to 7.70 for bulk and 6.25 to 7.00 for sows. Cattle trade steady with prime fed steers 8.50 to 9.15, dressed steers 7.00 to 8.40, southern steers 6.00 to 8.00, cows 4.25 to 7.00, bulls 6.00 to 8.75, stockers 6.00 to 7.85. Sheep receipts 8,000. lambs 10.25 to 10.75, yearlings 8.50 to 9.40, wethers 7.50 to 8.28, ewes 7.00 to 7.60.
New York on Feb 8 reports No 7 Rio coffee at 45 cents per pound, with March at 7.54 cents, July steady as markets reflect stable pricing. The brief notes ongoing activity in futures with limited movement and steady demand expectations.
Observations at 7 am show x below zero with light wind. Precipitation under .01 inch not published. Allen Buell serves as forecaster for the Department of Agriculture Weather Bulletin.
More than 3 million dollars in seeds were exported from the United States to eight countries in November. War nations push to plant large grain crops, boosting demand for American seed firms. Europe also bought over 70 million dollars in U S food products in November, up from 30 million the year before. The report notes a large shipments of horses and mules as well.
The Federal Trade Commission will issue in a few days rulings defining unfair competition in about forty cases. Investigations cover fertilizer, beet sugar, pipelines and lumber with more reports due. A month will bring a broad health of business inquiry, involving over three hundred lines of business. A foreign trade competitive conditions report goes to Congress about April 15.
Oklahoma City cattle sale shows 250 head, market steady. hogs around 1906 volume, prices down 10 cents with tops at 7.80 and bulk 7.65 to 7.78. sheep at 150 head, market steady. In Austin cement carload rates cut two cents per 100 pounds to 23 cents, based on Galveston, with minimum weight raised from 30,000 to 4,000 pounds amid railroad tariff changes after hearings.
Chicago market quotations show butter steady at 23 30 cents a pound, eggs rising with 1891 cases received including 291 for firsts. Creighton? ordinary firsts 28 28 percent. Potatoes declined with 12 car receipts. Regional grain prices for Michigan Wisconsin Minnesota and Dakota white at 0 95, Ohio at 85 90 cents. Poultry alive higher with fowls and selected springs at 18 cents.
Wheat showed renewed strength on reports Liverpool was bullish but demand remained light amid embargo fears on Philadelphia and Baltimore. May and July futures fluctuated around steady to slightly higher, closing nervously after modest gains and losses. Corn and oats mirrored the volatility with a general late setback, while provisions dipped then rallied on active short covering.
Quotation today shows Wheat No 2 hard $1.24 to 1.29 and No 2 red $1.30 to 1.34. Corn bids for No 2 mixed 71 and No 2 white 214 to 73 cents. Oats rise No 2 white 52 to 53 cents and No 2 mixed 48 cents per bushel.
Kansas City grain futures closed with modest gains in wheat and mixed results for corn and oats. Wheat May finished at 1.23 percent, July at 1.18 percent. Corn May 74 percent, July fractionally higher. Oats May 49 percent.
Quotations from St Louis show No 2 red wheat at 1.39 to 1.38 dollars, No 2 hard nominal No 2 tag 77 cents, No 2 white nominal around 50 to 60 cents, with other No 2 white figures listed.
Chicago market list shows No 2 red and No 2 hard at 1.31 and 1.31 1/2 percent. Corn No 2 yellow quoted nominal. Oats standard 60 61 2 percent, Barley 70 81 cents.
Lead bids at 6.10 with no spelter quote copper firm electrolytic at 26 for second quarter delivery iron steady tin steady spot 41.59 bid. Market activity shows steady tones across metals with copper leading near term delivery.
London market notes on lead zinc spelter copper futures and spot prices in pounds sterling with figures for spettin antimony and electrolytic materials listed in short form. The brief lists spot and futures values in a compact exchange style typical of an old wire service.
Turpentine receipts in Savannah on February 4 show 53 with shipments of 2 and stock steady. Resin trade remains quiet with sales none and receipts at 1006, shipments 5880, stock consumption. Quotations listed for several brands from 5.20 to 7.66 with varied grades and letters.
In New York on February unknown, fine cotton goods were firm and active while worsted yarns remained firm and laces more active. Cotton yarns held firm as the largest reducers of cotton flannels domets and lannelettes sold off their fall lines and withdrew them.
Kansas City quotations list butter with creamery 81c firsts 29c seconds 27c packing 19c and eggs at firsts 29c seconds 20c with hens, turkeys and springs cycle pricing noted.
Jess Willard signed to clash with Frank Moran in a ten round bout at Madison Square Garden New York on March 17. Promoter Tex Rickard’s representative Dave Lewisohn and Willard agent Tom Jones reached the deal giving Willard 47500 dollars and 61 percent of the moving picture concession Moran to receive 20000 dollars.
Tex Rickard announced Jess Willard has signed to meet Frank Moran in a ten round fight in New York on March 17. Rickard guarantees 60000 for the bout with Willard earning 40000 and Moran 20000.
Miss Winnie Spruce of Waco high school student, who had been missing since Monday, was found in Dallas last night and is in police care awaiting relatives from Waco. Police in several cities were alerted and her brother W W Spruce of Greenville had gone to Galveston to search. She reportedly studied intensely for a recent exam.
Army orders list reliefs and assignments for officers including SEOANE relieved to Canal Zone, KINZIE B. EDMUNDS to report after relief from Telegraph Company H, MEGLLL ZEBRING C. detailed to Fort Blies Texas, HOWARD C. TATUM to Mission Texas, GROSVENOR detached from command, BALL removed from command, leave and travel orders for ARROWSMITH and JONES, DALTON to consult with quartermaster general, and retirements and duties for MOULD and MOAHS with various assignments and travel locations.
Proceedings show judgments reversed for Amelia Briant et al. against Continental Casualty Co in Harris County, and various applications granted or denied across districts. Other items include motions to advance, dismissals for lack of jurisdiction, and cause resets for March 1 and February 23 across multiple counties and railways.
Widely known civic and educational leaders gather for the twelfth annual Child Labor Conference under the National Child Labor Committee. A session on the Keating Owen bill is planned with Representative Keating and A Mitchell Palmer invited to speak on federal child labor legislation. the conference will adjourn next Sunday.
The morning session showed moderate gains with Texas Company and Mexican Petroleum up 1 to points. War shares edged higher, rail stocks were inactive, United States Steel held near steady on light volume. By midday prices recovered, steel firmed, and the close ended strong on favorable trade rumors despite a low final hour.
Time loans hold at 89 and 96, with two per cent for the short notes and three per cent on longer terms. Call money remains steady near two per cent, with high rates at 2 per cent and low at 1 per cent. The ruling rate sits around 1.5 per cent, with closing bids near 1.75 and offered at 2 per cent.
Prompt market summary shows Sterling at 60 day dip and 84 70 percent demand noted. Cables at 84 767 18 with guilders demand 41 and 42 cables. Silver weak and Mexican dollars at 43 percent. Government and railroad bonds described as strong and firm respectively.
London market notes show bar silver at 274 per ounce. Morey index at 44.4 percent. Diecourt rates posted for short bills and three months at 1.45 percent.
New York Feb 3 The annual report of the Republic Tree and Steel Company for the year ending December 1915 shows a net profit of 4 385 728 dollars, an increase of 2 5 over 1914.
Market report from New Orleans shows continued rough rice trading with one grade steady. Receipts totaled 2327 rough and 22875 milled clean, with sales at 1631 pockets clean and 166 pockets.
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