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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jul 07, 1916
Page
15
Reports of damage in eastern states bolster cotton prices while cable news hints at improvement in communications wiring. Market analysts note weather disruptions limit supply, supporting fiber futures as traders monitor export demand and regional crop conditions.
Alabama Mississippi and eastern cotton belt crops were damaged by Friday morning storms boosting New Orleans and New York futures. Prices opened steady and rose 11 to 12 points, then recovered after a midday dip as reports of heavy rains and a sinking ship news influenced sentiment.
The New York cotton market opened steady with advances of 9 to 10 points, October touching 13.16 and December 13.32. Heavy rains in the eastern belt buoyed prices briefly before profit taking pulled October to 13.09 and December to 13.26. By midday a steadier tone emerged as weather reports suggested continued rain, with prices near early highs.
New York July 1 reports cotton futures opening steady with July at 12.98, October 13.09, December 13.29, January 13.32, and March 13.51. Futures closed steady. Liverpool expected to open down 8 percent to 4 points.
In New Orleans on July 7, cotton futures jumped 10 to 12 points in early trading as Alabama and Mississippi reported continued heavy rains and wind damage to crops. Cargo activity and a submarine alert later eased the market to a narrow mixed finish, with noon prices showing a slight net gain before afternoon fluctuations.
In New Orleans on July 7 cotton futures opened steady with January at 13.14, March 13.36, August 12.78, October 12.88, and December 13.04 as the market established early positions.
Spot cotton in New Orleans on July 7 held steady with sales 255 bales and arrivals 210. Quotations ranged from good ordinary 41.50 to strict good middling 13.75, with receipts 4,455 and stock 19,208 bales.
July spot cotton quotes steady at middling 8.04 pence per pound with sales totaling 4000 bales including 400 for export and speculation. Receipts reached 6000 bales as market activity continued.
Markets show futures holding steady with mixed signals across several contract spreads. Trading details illustrate July through December periods with price levels around 7.7 to 7.9 and several what appears to be monthly adjustments.
Market steady with slower day trading. California tomatoes arrived, selling at 1.25 per log box. Elberta peaches expected larger crop, shipments due later. California lettuce at 2.76 to 3 per crate, good quality. Ample California onions available, prices from 50c to 5 per hundred pounds.
Wholesale market rates list Texas onions peppers and tomatoes with per bushel crate and per dozen prices. Includes California and Texas fruits, canned goods, nuts, dried fruits, and animal by products with unit costs and bulk lot terms.
Quotations listed include Rutter creamery at 29 cents, firsts 27, seconds 25, packing 22, and eggs with Firsts 24. Potatoes described as easy and regionally varied prices show Triumphs of Texas Oklahoma and Louisiana at 6, Kaw Valley Ohio crops weak at 65 cents.
Chicago July 7 reports indicate wheat values advanced amid rain concerns and rust fears in the northwest. Kansas farmers hold holdings. July and September futures moved higher before a moderate reaction. Corn rose with wheat but eased on fine weather. oats tracked corn and hog provisions weakened.
Friday prices for corn oats hay delivered in San Antonio show Texas No 3 mixed corn at 86c and 86%e. Hay prices include mile maize No 3 bulk at 1.16, feterita 1.15, kaffir corn 1.15, cane hay 1 per ton, prairie hay 10.56 per ton, Johnson grass 11.00 per ton, alfalfa choice pea green New Mexico 16 per ton.
The table lists wheat prices with No 2 hard at 1 001.07 and No 2 red around 1.00 1.05. Corn prices show No 2 mixed at 74 75 cents No 2 white about 74 ½ cents and No 2 yellow around 75 cents per bushel.
Kansas City grain closes show July wheat at 97 and July rye at 99 1/2 cents, with July and Sept contracts noted for soft futures. Prices reflect light trading and market shifts across the harvest season.
Quotations show No 2 red wheat at 1.06 and No 2 hard wheat. Corn No 2 yellow at 0.89, oats standard at 0.40 and barley at 0.80. Market notes dated Chicago July 7.
Quotations show No 2 red wheat at 1.11 to 1.15, No 2 hard nominal, No 2 corn at 7 8 to 8 1 2 cents, No 2 white 7 9 0, No 2 oats at 88 1 2 to 39 cents, No 2 white nominal.
Open high low close figures for July and September futures listed for pork products and lard. Local San Antonio packing house quotations show prices for dry salt extras and bacon products, with precise cents per pound for each grade and item.
Navere reports steady fees for ore and a range of farm products sold in San Antonio. Butter at 26 to 39 cents per pound, country produce near 20 to 26 cents, packing stock 18 1 2 cents, poultry prices steady with frozen hens at 4.50 to 6.10, turkeys at 1 to 1 1 2 cents per pound, ducks 4.00 to 5.00 per dozen, geese 4.50 to 5.00 per dozen.
Brief note on current cotton market in New Orleans with price trends and futures activity. Market sources indicate steady demand and price movements amid regional trade developments.
At Union Stock Yards on July 7 light receipts kept cattle trading nominal but with a firmer undertone. Prices rose 26 to 35 cents from the week’s best, aided by rain in range sections. hogs gained to about 9.75 for heavies, with ordinary hogs at 7.00. Fort Worth receipts showed cattle steady at 6.50 to 8.75, hogs bulk 9.60 to 9.85, lambs 9.00 to 9.50, and goats 4.00 to 4.75.
Receipts show hogs 7000 with higher prices ranging from 8.75 to 10.20 for p)ige and lights to 10.20 for bulk. Cattle receipts 1800 with steady market. native beef steers 7.50 to 11.35. yearling steers and heifers 5.50 to 9.65. cows 5.50 to 8.25. stockers 5.50 to 8.50. prime yearling steers and heifers 8.76 to 10.25. prime southern steers 6.00 to 10.00. Sheep receipts 1890 with steady market. wethers 6.00 to 8.00. clipped ewes 4.09 to 8.90. clipped lambs 6.00 to 10.00. spring lambs 7.00 to 10.75.
Hogs receipts 21000 with slow market and varied bids from 9.50 to 10.15 for different weights. Cattle receipts 1000 steady market with native beef cattle at 7.30 to 11.20 and western steers 8.20 to 9.40. Sheep receipts 8000 strong market with wethers 6.50 to 8.00 and lambs 7.60 to 10.86.
Receipts and quotations show hogs with 4000 head and a lower market. Bulk hog prices 9.75 to 10.50, pigs around 9.60. Cattle receipts 2000 with a steady market. prime fed steers 10.26 to 11.00, dressed beef steers 8.00 to 9.00, southern steers 6.50 to 9.00, cows 5.50 to 8.25, heifers 8.60 to 10.00, stockers 7.00 to 8.75. Sheep receipts 1500 with higher prices. lambs 9.50 to 10.75, yearlings 7.50, wethers 6.50 to 7.60, ewes 6.25 to 7.10.
New York July 7 coffee market opened cautious then firm on reports of further gains in Brazil and local demand. The close was near the day’s high with July at 8.05 and December at 8.88. Spot Rio 9½, Santos 4s 10½.
Receipts show cattle at 1400 head steady while hiogs drop to 2600 cents lower with top price 9.90. Horse Show Ranch at Hickory and Wilson Marietta entries appear with mixed cattle lots and prices noted, though legibility is limited.
Stock yesterday 722,828 bales. Stock same day last week 802,900 bales. Stock same day last year 811,387 bales. Season deficit 98,559 bales.
Liverpool reports weekly cotton business with 71 000 bales forwarded to mills including 63 000 American. Stock 639 000 bales with 520 000 American. Imports 53 000 including 48 000 American. Exports total 1 162.
Irregular opening prices showed narrow changes with copper issues active at small gains. New York Central and Erie rose fractions, St. Paul and Baltimore & Ohio dipped, U S Steel in and out. Munitions remained inactive while trading grew dull in the afternoon. Prices fell as call loans rose to 4 percent. Rallies near the close followed government report.
Prime mercantile paper at 84% 8& per cent. Sterling exchange rates show sixty day bills at 4.72 demand 4.76 cables 4.70. Guilders demand 4 07-16 cables 4 09-16. Silver 62 cents per ounce. Mexican dollar 48½ cents. Government and railroad bonds steady. Time loans firm 60 and 90 days 3% and 3% six months 8% 4%. Call money firm high 4% low 4% ruling rate 4% last loan 4% closing bid 4% offered 4%.
Lead at 6.50 with weakness in Spelter. East St. Louis spot delivery at 9. London prices show Lead 28 pounds sterling and Spelter 44 pounds. Copper dull with near term futures around 25 to 29 dollars. Tin quiet spot at £38.87 and futures at £173 10s. electrolytic copper quoted differently in London.
The State Purchasing Agent Leavy awarded a contract to A. B. Frank Co. of San Antonio for supplying shaving soap to state institutions. The same firm also secured the contract to furnish toilet soap to state institutions.
The New York cotton seed oil market posted closing quotes for July at 10.65 10.72, August 10.61 10.63, September 10.49 10.50, October 9.51 9.58, November 8.65 8.67, and December 8.55 8.57. Sales totaled 14,900 units.
Turpentine firm sales 1364 receipts 758 shipments 68 stock 13120. Resin firm sales 1040 receipts 2645 shipments 1900 stock 86366. Also notes New York dry goods: men's wear staples up 20 to 80 percent. raw silk softer. cotton goods firm. yarns firm. Quoted some humorous church anecdote.
National weather and crop bulletin notes increasing boll weevil damage across cotton regions. Week ended reports light rainfall aiding cultivation in north, but central and southern areas show grassy fields and hindered cultivation. cotton blooming in central South Carolina and Georgia, forming bolls in Georgia, fruiting in Louisiana.
The railroad commission issued an amendment to its new tariff on crude and fuel petroleum effective January 14, 1916. It sets 24 cents per 100 pounds from Galveston Port Arthur and Port Neches to Eagle Pass and 27 cents to El Paso, and 8 cents from Beaumont to Galveston. Intermediate-point rates remain unchanged. amendment takes effect July 26.
The Cotton Region Bulletin for the Houston district notes unsettled weather with cloudy and showery eastern areas. Temperatures near normal and rainfall exceeding an inch at Hondo Texas Grandmore La Port Gibson and Natchez Mississippi with heavy rains reported in the Atlantic Augusta Memphis Montgomery Savannah and Vicksburg districts. Meteorologist Allen Buell.
Observations taken at 8 am Friday July 7 1916 by the Department of Agriculture Weather Bureau. Wind velocities under ten miles per hour and precipitations under .01 inches are not published. Allen Buell, Meteorologist.
The July 1 forecast from the Department of Agriculture indicates wheat yields will drop from last year with an overall smaller crop due to reduced acreage. Winter wheat 469 million bushels and all wheat 473 million approximate, while corn and oats show mixed changes in planted area and yields with tobacco and potatoes also evaluated. The August grain report will follow on Tuesday at 2:15 p.m. Eastern.
Quotations from Chicago markets show mixed receipts across commodities. Prices fluctuate with creamery products and potatoes noted, while wines and poultry show varied levels. overall figures include 4 Metter steed and 27% meet entries, with miscellaneous sums and barrelling values listed.
Fragmentary market bulletin from New York records prices for centrifugal sugar melasees and powdered commodities. Mentions specific items with values around 6.27 to 7.55 dollars per unit and references various product grades.
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