Cotton Market Turns More Encouraging In Trade Signals
Market observers report a more encouraging political stance and firmer spot cotton prices. Traders note advances in policy discussion boosting confidence in near term demand.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 07, 1916
Page
7
Market observers report a more encouraging political stance and firmer spot cotton prices. Traders note advances in policy discussion boosting confidence in near term demand.
International political developments lift prices with a two to three point advance in futures and spot cotton. San Antonio reports steady local prices and smaller Texas acreage. ginnings under 3 million statewide, Bejar gins about 25,000 bales to date as May and July futures rise on settlement hopes tied to Lusitania talks.
The cotton market opened 3 to 4 points higher on steady cables with May at 12.05 and July 12.19 on the call. Optimism from stock market strength faded as demand remained light, prices edged back to 12.14 for July and 12.06 for May amid scattered selling from the South and local traders. Liverpool and New Orleans activity provided some support, but mid day rally failed to broaden, leaving gains about four points net.
Futures for March through December traded steady at the open on the New York market. Prices showed small gains by close with mixed highs and lows across contracts, including March at 11.84 and December at 12.35, reflecting a cautious tone after opening.
In New Orleans on February 7 the cotton market opened with a small gain but failed to sustain support. Prices moved down about two points midmorning, with limited demand and modest selling. By noon months showed a net four point rise, and trading remained dull in the afternoon with a final one point uptick.
New Orleans futures markets opened with steady tones for March 11.58, May 11.85, July 12.05, October 12.06, and December 12.20. Closing figures show little change, with ongoing quotes across grain sections and soy notes sparingly listed.
Liverpool cotton market notes low middling price at 7.64 pence per pound with total receipts around 13 000 bales. The day’s activity includes roughly 6900 bales traded and 14 000 bales allocated for real estate and speculation.
A dated Jamaica-Liverpool style list shows a chain of future contract figures for multiple month pairings including February through January. Values range around 7.2 to 7.7 with several fractions and occasional letters amid digits.
Reports show storage eggs exhausted in San Antonio with no further shipments from outside. Market will be supplied by fresh country eggs. receipts rising daily. 1916 storage season noted as possibly the longest. unsettled weather delayed movement from the country.
The market lists wholesale prices to trade for a wide range of produce and staples. Colorado and California onions, Cuban tomatoes, Texas celery, Florida peppers, and Louisiana sweet potatoes are quoted by weight or crate, with many other fruits, canned goods, and dry goods included. Prices cover grains, nuts, dried fruits, canned meats, and seafood, indicating a broad wholesale catalog for retailers and shippers.
Buyers and sellers moved quickly to set prices as the local live stock market stayed brisk through 2 pm receipts of 430 cattle 82 calves 51 horses and 623 hogs. Steers 6 to 6.75 cows 5 to 5.75 calves 6 to 7 with good bulk quality. More consignments expected tomorrow while other markets were mixed. cattle steady hogs higher and sheep barely steady.
Fort Worth Texas cattle receipts 2600 steady with varied prices across classes. Cattle ranges include stockers cows heifers bulls and calves with multiple price points and confirmation of lower age totals. Sheep receipts 200 active with lambs yearlings wethers and ewes noted alongside goat pricing.
Receipts show hogs at 65 000 with a firm market and cattle at 21 000 with a weak market. Native beef steers bring 6.35 to 9.60, western steers 6.69 to 8.15, cows and heifers 3.15 to 7. Calves 8.00 to 11.00. Sheep receipts 18 000 with a weak market. wethers 7.60 to 8.16 and lambs 8.50 to 11.15.
Receipts and quotations for hogs cattle and sheep reported at Kansas City dated February 7. Hogs 11,000 head market steady to strong with various weight classes listed. Cattle 15,000 head market steady to lower led by prime fed steers and grassed beef steers with multiple price ranges. Sheep 9,000 head market steady to weak with lambs yearling wethers and ewes priced across a spectrum.
Hogs receipts 20 600 steady to higher with pigs and lights 6.60 to 8.15 mixed and butchers 7.95 to 8.30 good heavy 8.20 to 8.25 cattle receipts 4 800 slow to steady native beef steers 7.50 to 9.50 yearling stockers and feeders 5.50 to 7.25 texas and indian steers 5.25 to 8.50 cows and heifers 4.00 to 6.56 native calves 6.00 to 11.50 sheep receipts 2 000 steady yearling wethers 5.90 to 9.50 lambs 9.00 to 11.10 ewes 6.25 to 7.50
Free selling by leading houses sent Chicago wheat prices down today amid uncertain export prospects from German raiders and European government control. May and July futures opened around 1.32 to 1.34 and 1.24 to 1.25 respectively, with big receipts at Chicago and Peoria weighing on corn while oats and other cereals fell and hogs showed firmness.
San Antonio grain buyers posted prices Monday for Texas and northern grades. Carrot prices ranged per bushel with heat at 1.85 and northern at 1.36. Corn included Texas No 3 at 0.80 and northern No 2 mixed at 0.80. Oats prices showed Texas red at 0.53, northern white at 0.51 to 0.60 depending on bulk or sacks. Oklahoma prices tracked Texas grades.
Monday quotations list dry salt extras at 13 cents, bacon extras 14 to 14 cents, dry salt bellies 14 to 16 pounds average at 16 cents, fancy breakfast bacon 28 cents, fancy hams 19 cents, bacon bellies 14 to 16 pounds average at 16 cents, pure lard 11 cents, compound.
Quotations show No 2 red wheat at 1.29 to 1.31 dollars, No 2 yellow corn and oats at 48 to 49 cents, barley at 68 to 8 cents, with standard pricing for oats.
Quotation list from St Louis on February 7 shows No 2 red wheat at 1.88 to 1.34, No 2 hard and No 2 white figures nominal, and No 2 oats at 49 cents with No 2 white nominal.
Kansas City on Feb 7 quoted wheat at No 2 hard 1.231.30 and No red 1.34, corn No 2 mixed 69%c, No 2 white 70%c, oats No 2 white 62 58c and No 2 mixed 48%19.
Kansas City grain futures closed with mixed results on February 7. Wheat for May at 1.18 and July 1.14. corn for May and July around 71 1 2 cents. oats May at 47 4 cents.
Galveston on February 7 reports arrivals from New York including Sud and El Siglo Athos Progreso Avanguardia and Pensacola. Departures include El Rio bound for New York Wes orth Br London via Pensacola.
Wholesale prices show eggs steady and butter firm with Texas creamery at 32 3 30 per pound. Poultry remains firm with hens at 4 50 to 6 00 per dozen friers 3 50 to 4 50 broilers 2 00 to 3 50 turkeys 11 6 to 16 c per lb ducks 4 50 to 5 50 per dozen geese 7 00 to 10 00 per dozen rabbits 0 76 to 1 00 per dozen.
Lead bids at 86.00 with no spelter quote. Copper firm electrolytic at 27.00 28.00 for June and later 26.00 26.50. Iron steadies with No 1 northern 20.25 20.75 No 2 19.75 20.25 No 1 southern 20.00 20.50 No 2 19.75 20.25. Tin quiet spot 41.37 1/2.
The assistant attorney general advised the insurance and banking commissioners that state anti trust laws prohibit a combination of two or more insurers to jointly execute bonds guaranteeing cotton warehouse receipts.
Oklahoma City cattle sales at Tupah market steady with 750 cattle and 1700 hogs, top hog price 8.65 and range 7.70 to 7.95, sheep around 600 with steady demand. Texas and nearby consignments include Mack Sayre and E B Johnson of Norman with mixed cattle figures. New York cotton seed oil closes easier at 9.27 spot with February bid noted.
Lead at 31 pounds 5 shillings, Spelter 89. Spot copper 97 to 108, futures 97. Electrolytic copper spot 179 pounds 7 shillings, futures 179. Antimony 125. Market figures for London metal trades with fractional pound values.
In Wichita Falls Texas a bonus of 40 cents a barrel is paid today above the posted crude oil price of 1.30. The increase in price over the past year amounts to 230 percent.
Chicago reports butter rising to 27 4 a pound with receipts at 3084 cases and mixed grades. Potatoes advance with 30 cars received from Michigan Wisconsin Minnesota and North Dakota at 95 to 106 cents. Poultry prices move up for alive fowls and springs with light common quotes.
Kansas City market quotes show creamery butter at 29 cents for firsts with 27 for seconds and 19 for packing. Eggs list firsts at 29 cents and seconds at 20 cents, with hens at 17 cents and turkeys at 20 cents.
Findlay Ohio February 7 The Ohio Oil Company advanced prices of North Lima South Lima Indiana and Wooster oils by five cents a barrel reflecting a market shift.
In New York the coffee market held steady as futures traded around 7.56 for March and 7.69 for July. Rio and Sc figures were noted but the focus remained on the steady U S prices.
Early trading on February 7 shows hopeful sentiment in the Lusitania dispute with gains across many sectors. War shares lead the advance with Baldwin Locomotive and United States Steel rising, while Lackawanna Steel plunges on merger abandonment.
Berlin newspapers review the foreign exchange market since January 28 official quotations. By Saturday New York exchange fell, Swiss exchange rose to 1.375, Dutch down 6.75, Swiss up 0.75, and Austrian up 2.30. The papers say the new arrangement aims to curb speculation and is likely to succeed.
Department of Agriculture weather bulletin records observations taken in the morning of February 7, 1916. The fragment notes a location timestamp and standard meteorological notation. The text provides only partial data for an official climate report.
New York reports mercantile power at 3.8 percent and sterling 0 day bills at 4.70 percent demand 4.75 percent cables 4.75. Guilders demand 4.1 percent cables 4.2 percent. Bar saver 56 percent. Mexican dollars 4.3 percent. Government bonds steady and railroad bonds firm.
NEW YORK MONEY reports easy time loans at 2 percent for 60 and 90 days, with 6 months at 2 to 3 percent. Call money remains steady with high 2 percent and low 1 percent, ruler rate near 2 1/4 percent, last loan at 2 percent, closing to 2 percent.
Chicago February 7 stop loss ceiling on a heavy scale demoralized the wheat market today and sent the May option down sharply to about 1.281 and a half dollars per bushel. Traders blamed rising receipts and weak foreign demand for the drop and noted the market’s long decline.
Commissioner Albert Steves head of the fire and police departments returns from Martin Texas in improved health and weight. He visits the central fire and police station to review reports and confer with department heads. He plans a traffic squad reorganization and notes a winter crop of burglaries with large sums stolen as homes are left unsecured. He vows vigorous prosecution to deter thieves in San Antonio.
Cireldo Reyes about 50, of 510 South Pecos Street, was struck by a speeding car on Frio City road near Union stock yards at 8 30 AM and seriously injured. He suffered a broken arm and possible internal injuries. The vehicle fled. witnesses aided Reyes and police. He was moved to City Hospital after initial treatment.
In Chicago on February 7 Rev James Burke of St David's Roman Catholic Church left the parish house after a call claiming a dying person needed the last sacraments. He found no one and the house had been entered by burglars aided by the housekeeper who heard the church bell.
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