Weather Lifts Cotton Prices This Week
Weather news has pushed cotton prices higher with both cash market and futures showing material gains. Prices rise about $1.30 per bale as market demand tightens and buying interest grows.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jul 30, 1916
Page
25
Weather news has pushed cotton prices higher with both cash market and futures showing material gains. Prices rise about $1.30 per bale as market demand tightens and buying interest grows.
Quotations from the Principal spot cotton markets show rising prices driven by weather, with San Antonio buyers bid at 12.88 per pound for middling cotton. The contract market saw increased activity as bullish crop reports and late-week weather disturbances spurred buying interest amid August crop concerns east of the river.
Cotton futures opened lower on July 29 as Gulf disturbance noted and rain in Texas and eastern belt offered relief from drought. Reports from Georgia and western belt showed varied damages and no change in Arkansas and Tennessee, with later rallies and a closing range of 1 to 4 points lower.
New Orleans cotton prices were steady at opening with small shifts around yesterday's close. A private condition report showing 6.8 percent of normals aided modestly, helping prices move briefly up before wobbling and ending near the prior level.
New Orleans moves show August at 12.96 tober 13.07 December 13.23 January 13.21 March 13.48 with slight changes. Liverpool Iron Exchange closes for holiday with upcoming Saturdays listed. New York Coffee futures steady with September 8.43 and December 8.54.
Turpentine run at 43% 44, sales 151, receipts 295, intents 183, stocks 14 690. firm: sales 1065, receipts 1389, shipments 798, stocks 69 872. Quotations listed with A B at 6.10 dollars and up to W W at 6.90 in a market brief from Savannah on July 29.
The New Orleans market report notes rough seas and quiet estimates with unchanged quotations. Receipts reach 800 pockets while clean Honduras sales total 1621. The exchange hints at a stage cue and an unrelated dialogue about attire and implied secrets amid the sparse trading details.
State Pure Food Commissioner Robert H. Hoffman reports success in the crackdown on bad eggs with large confiscations. Over 30,000 lead eggs seized at Fort Worth and North Texas, plus similar totals in Houston and South Texas, aim to halt tainted or unfresh storage and frozen eggs.
The Texas State Fire Insurance Commission issued a new schedule for cotton risks effective August 20, standardizing rates without overall change but cutting loss ratios. The plan includes a special rate of 1.75 dollars per hundred for small open storage sheds under 10,900 square feet and a 10 percent credit for state bonded warehouses.
Wholesale prices to retailers and shippers list Texas and California produce. Potatoes onions tomatoes celery cabbage peppers beets beans squash carrots turnips lettuce parsley eggplant spinach cantaloupes watermelons corn cucumbers apples bananas oranges lemons limes peaches grapes plums kraut apricots and ranks with varied per unit costs and crate or box formats. Entities include Texas California Winesap apples and Elberta peaches with box and per-pound or per-crate pricing details.
Fort Worth Texas July 29 Cattle receipts 200 market unchanged Reeves 6.00 8.60 stockers 5.00 6.50 cows 4.00 6.50 bulls 4.00 5.25 calves 4.50 Hogs receipts 600 prices down heavy 9.60 9.45 medium 9.50 9.60 mixed 9.40 9.50 light 9.59 9.60 common 7.00 8.00 pigs 5.50 7.75 Sheep receipts none market lambs 9.00 9.75 yearlings 8.00 8. wethers 6.75 7.25 ewes 6.0 powers culls 4.00 5.00 head price notes show slight declines across categories.
Receipts were 1200 hogs 250 cattle and 600 sheep with mixed prices across grades. Hogs quoted from 9.75 to 10.25 per cwt, cattle include native beef steers 7.00 to 10.25 and Texas steers 5.50 to 9.16, yearlings and cows scattered. Sheep show market steady with ewes 9.00 to 10.00 and lambs 7.00 to 10.00 per cwt.
Receipts and quotations from Chicago show hogs firm with bulk at 9.60 to 10.05, light 9.60 to 10.46, mixed 9.30 to 10.15, heavy 9.20 to 10.20, pigs 7.76 to 9.70. Cattle receipts 400, market steady with native beef 7.00 to 10.50, western cattle 6.75 to 8.60, feeders 5.00 to 8.00, cows and heifers 3.50 to 9.25, calves 8.60 to 12.00. Sheep receipts 0, market steady with wethers 6.90 to 8.30, lambs 7.26 to 11.06.
Receipts and prices for cattle hogs and sheep reported in Kansas City. Hogs sold 9.45 to 9.76 for various weights and grades with bulk around 9.50 to 9.75. Cattle receipts 200 with primes 9.60 to 10.35 and other classes listed. Sheep receipts 600 with lambs 16.00 to 16.75 and yearlings 7.75 to 8.35.
The bulletin reports 24 hour weather data ending 8 am July 29 1916 in San Antonio Texas. It details temperatures rainfall and overall state of weather for the cotton region.
The Texas State Warehouse and Marketing Department issues strict guidelines for ginners to follow during the 1915 ginning season. Rules cover bale covering sampling standards and marking, with emphasis on proper gin samples to improve insurance rates and warehouse transactions. F. C. Weinert and Peter Radford urge cooperation to enforce the policy.
U S Department of Agriculture weather bulletin notes wind under ten miles per hour and precipitation under a tenth of an inch not published. Market data shows Mercantile paper at 4 percent, Sterling bills 4.71 to 4.76 percent, Guilders around 41 percent, Mexican dollars 48 percent, government bonds steady and railroad bonds easier. Allen Buell, meteorologist.
Weather in the belt remains unsettled with near normal temperatures. Rainfall exceeds an inch at Rey Port Louisiana Blackville and Kingstree North Carolina New Bern North Carolina Montegore Texas. Meteorology office notes.
A quiet week on Wall Street amid foreign and diplomatic tensions, with no major price moves. United States Steel dipped briefly before recovering. rails softened on fears of foreign liquidation while internals showed modest gains in select issues.
London July 29 bar silver quoted at 305 164 per ounce Money at 4 percent discount rates show short bills at 5 percent with three months at 56 percent.
Buyers list fresh market prices for eggs butter poultry and fowl in San Antonio on Saturday. Egg price 21 to 22 cents per dozen 21 to 22 c. Butter 25 to 3 4 cents per pound. Hens 4 50 to 6 50 per dozen. Large fryers 4 50 to 5 50 per dozen. Broilers 2 50 to 3 60 per pound. Turkeys 16 to 17 cents per pound. Ducks 4.00 to 5.00 per dozen. Geese 4.60 to 5.00 per dozen.
Butter prices rise with creamery quotes at 24 27 cents. Eggs unsettled with receipts of 7619 cases showing firsts 22 23 cents and ordinals 22 cents. Potatoes fall with 20 car receipts and Virginia and Missouri Kansas prices 2 2 80 dollars per barrel and 73 83 cents. Poultry alive lower with fowls 11 17 cents and springs 20 22 cents.
Quotations today show butter at creamery 28 cents, firsts 26, seconds 28, packing 21. Eggs at firsts 22, poultry with hens 10 and roosters 10, broilers 21 cents. New potatoes steady at 60 cents. Oklahoma Arkansas Texas and Louisiana varieties also 60 cents. Kaw Valley early Ohios steady at 60 cents.
In Elgin Illinois on July 29 butter prices moved up with 50 tubs sold at 28a each. The sale reflects firmer demand for dairy products in the local market.
New York report shows clearing house banks and trust companies hold 109,246,310 dollars in excess reserves, up 1,160,960 from last week. Details include loans 3,188,931,000. reserve in vaults 428,941,000. reserve in federal reserve bank 6,025,000. other depositories 52,720,000. net demand deposits 3,125,968,000. time deposits 185,261,000. aggregate reserve 647,686,000.
A and M College Station ends its seventh annual farmers short course and the Texas Farmers Congress. About 400 farmers and wives join 400 students for fourteen hours daily of practical demonstrations in animal husbandry poultry horticulture dairy and general agriculture. Notable speakers include Dr William Jardine Dr H J Webber Miss Virginia Scott and Miss Mary F E hearing. President John Gorham urges rural school development and consolidation of agricultural agencies.
The weekly report by Secretary Henry Hester details cotton movement for the past week and for the season to date at the New Orleans Cotton Exchange. It highlights receipts, shipments, and market activity within the current marketing period and begins the season performance overview.
Corpus Christi moves to build a warehouse for farm products led by E. H. Caldwell of E. H. Caldwell & Sons, the region’s largest hardware dealers. The plan aims to lift prices for feedstuffs by providing warehousing, countering farmers’ annual tendency to accept low prices due to wholesale control.
Chicago traders watched wheat, corn and oats rise early on speculative buying amid rust fears in the Dakotas and Minnesota. Reports of cooler northwest weather and mixed farm receipts pressured futures, with September near 1.21 to 1.22 and December around 1.25. Selling intensified as Canadian losses narrowed the price gap and late week weakness spread across grains. Provisions mirrored hog margins, closing unsettled with scattered gains and losses.
Grain and forage prices listed for Saturday delivery in San Antonio include Texas No. 8 corn 94 cents per bushel, Northern No. 3 white corn $1. Oats Texas No. 3 red 44 cents. Hay prices show Mile maize No. 8 bulk $1.28 per ton, cane hay $12.50 per ton, prairie hay $12.50 per ton, Johnson grass $12.50 per ton, alfalfa $18 per ton.
Quotations published in Chicago on July 29 show No 2 red wheat at 87 and No 2 hard at 1.23 a bushel. Corn No 2 yellow at 0.75 to 0.87 reflecting market fluctuation. Oats standard at 41 to 44 cents and barley around 4 75 cents per bushel.
Wheat fell with He and red at 1.38 to 1.33 dollars and No 2 hard around 1.214. Corn declined to about 1 dollar 81 and No 2 white 81 cents. Oats dropped. No 2% at 89 to 39 cents and Na white 41 to 42 cents per bushel.
Kansas City market notes show wheat at 1.17 to 1.21 for No 2 hard and 1.19 to 1.26 for No 8 red. Corn ranges include No 2 mixed at 0.79 to 0.80, No 8 white and No 2 yellow at 0.80 to 0.8. Oats list No 2 white 0.42 to 0.43, No 3 mixed 0.39 and 0.12.
Grain futures closed steady in Kansas City with Wheat July at 1.15 percent and Sept at 1.25 percent. Corn held at July 80 and Sept 76.
Final quotations for the week in Chicago markets list prices for provisions and commodities. Details include diverse staples and closing figures reflecting trading activity on July 29.
Local packing house quotations list dry salt bacon extras 17 percent dry salt bellies 14 to 16 pounds average 8 cents per pound. Fancy breakfast bacon 27 cents. Fancy home bacon 21 cents. Bacon bellies 14 to 16 pound average 19 cents. Pure lard 14 percent compound 13 percent.
New York notes list copper prices with steady after-hours trading. Spot price at 9.00 dollars bid and futures for various months shown including January February March August September October and November with cent and dollar values.
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