Local Cotton Men Predict Low Break on Bureau Report
Local cotton traders forecast a modest price break after the government bureau releases its market outlook. Liverpool market tone remains cautious as buyers weigh current supply and demand signals.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jul 31, 1916
Page
9
Local cotton traders forecast a modest price break after the government bureau releases its market outlook. Liverpool market tone remains cautious as buyers weigh current supply and demand signals.
Local brokers anticipate a sharp price drop after the July crop condition report, with New York and New Orleans prices slipping and overall market dullness. The Memphis estimate 75.8% contrasts higher private guesses, while New York closes steady and New Orleans shows a net decline. Cotton samples inspected by R L Krause in San Antonio reveal some grades off grade and scheduled regrading.
The New York cotton market opens steady with a 1 to 4 point advance but soon eases as favorable eastern weather looms. Prices drift from morning highs, October around 13.19 and December near 13.38, with quiet business and limited buying as traders await the government report.
New York markets showed cotton futures holding steady with nearby contracts posting small gains and distant months easing. Prices ranged across several months from October through March as market traders awaited clearer signals.
Weather improves helping early gain in New Orleans cotton futures but selling broadens as traders await tomorrow's audition report. Prices slip from opening calls with October down and overall session ends several points lower across front months. Cotton stores open steady with August to March futures listed in mid thirteen cent range.
Liverpool coin spot prices show middling around 8.35 with variability. Sales reach 5 000 bales, 20 000 bales for speculation and exchange. Futures steady at official noon close with July 8.06 3 4 percent and August around 8.06 percent value.
Lemons rose to 7.50 per box while receipts remained light as heat across the East may lift prices further this week. California apples Gravenstein sold for 2 per box. home grown sweet potatoes, pumpkin yams, white yams and tomatoes showed varied but steady demand. Elberta peaches were scarce at 1.25 per bushel.
Wholesale prices to trade list a wide range of produce including POTATOES ONIONS TOMATOES CELERY PEPPERS and more from Texas California and other regions. Also covers canned goods flour sugar coffee nuts dried fruits and meats with per unit prices and packing details.
Raw sugar firm Centrifugal at 6.27, molasses at 6.50. Refined steady. Cut loaf 8.80, crushed 8.65, mould A 8.10, cubes 8.15, XXXX powdered 7.80, powdered 7.75, fine granulated 7.65, diamond A 7.66, confectioners A 7.75, No 1 7.50.
Cooler weather eased wheat market pressures while Canadian rust fears and poor fill kept sentiment mixed. European crops stay unfavorable as South West receipts feed bears, yet South Dakota threshing weakness sparked a late rally. corn rises on hot dry week forecasts, while hog declines push down provisions.
Buyers in San Antonio reported prices for corn, oats and several hay varieties. Texas No 3 corn at 4 cents, mixed at 92 cents, Northern No 3 white at 1 dollar. Oats Texas No 3 red at 44 cents. Mile maize No 3 bulk, feterita No 3 bulk, Kaffir corn No 3 bulk at 1.15 dollars. Cane, prairie, Johnson grass hay listed at 12.50 per ton and alfalfa at 18 dollars per ton depending on quality and type.
Quotations for wheat corn oats and barley from Chicago market show No 2 red and hard wheat at 1 23 to 1 27 dollars per bushel No 2 yellow corn at 2 83 to 2 83 1 3 No 4 yellow at 80 to 81 2 3 cents oats standard at 49 41 cents and barley at 77 to 79 cents per bushel.
In St. Louis on July 1 quotations show wheat No. 2 red at 1.28 to 1.33, No. 2 hard 1.20 to 1.24. Corn No. 2 and No. 2 white range 0.80 to 0.81, oats No. 2 at 0.40 to 0.41 and No. 2 white at 0.38.
Quotation figures show Wheat with No 2 hard at 1.16 to 1.20 and No 2 red at 1.18 to 1.25 dollars. Corn prices include No 2 mixed at 0.78 to 0.80 dollars and No 2 yellow at 0.86 dollars. Oats list No 2 white at 0.42 to 0.43 dollars and No 2 mixed at 0.89 to 0.42 dollars.
Grain futures closed steady with July at 1.14 and September at 1.15 in Kansas City. Corn listed at 79 percent and September at 76 percent.
Provision Markets Chicago reports Monday quotations from local packing houses. Dry salt extras 16c and bacon extras 17c. dry salt bellies 14-16 pounds average 8c. fancy breakfast bacon 27c. fancy hams and bacon bellies 14-16 pound average 19 1/2c. pure lard 14 1/2c. compound lard 12 1/2c.
Estimates show August dividends and interest disbursements reaching 159.7 million dollars, a new peak for the period, up from 120.8 million a year earlier. Payments from 204 corporations total 82.7 million dollars, rising 26.3 million dollars.
Buyers paid steady prices for country produce delivered in San Antonio Monday. Butter at 22 cents per pound, country 18 to 20 cents, packing rack 18 to 19 cents. Poultry steady with hens at 5 dollars per dozen, large fryers 5 to 6 dollars, broilers 1.50 to 4.00, turkeys 15 to 16 cents per pound, ducks 100 dollars per dozen, geese 4.50 to 5.00 dollars.
Butter prices rise to 24 28c for creamery, 23c firsts, 21 22c ordinary firsts amid 7694 cases receipts. Potatoes remain steady with 25 cars receipts. Virginia prices firm with gin barreled at 2.25 2.30, bulk 78 s2c, Missouri and Kansas 66 70c. Poultry alive and fowls down to 17c, springs 18 20c.
Quotations today show Buttery creamery at 28 cents with firsts 26 and seconds 23, packing stock 21. Beegs firsts 22 and poultry prices list hens 16, roosters 10 1/2, broilers 21. New potatoes firm across Louisiana Texas Arkansas and Oklahoma with Kaw Valley early Ohios at 65 cents.
Galveston receipts for 1915-1916 totaled 2,468,099 bales, down from 4,039,022 last year, per H. Hickman of the local cotton exchange. Texas City reported 216,393 bales for the season ending today, versus 605,827 previously.
Union Stock Yards report July 1 shows a steady tone in the local live stock market with rain and muddy roads slowing hog receipts but steady demand. Cows bring 5 to 5.50, calves 6 to 6.50, extra quality around 7. small hogs 7 to 8, good hogs 8 to 9.50. Receipts: cattle 249, calves 203, hogs 62.
Fort Worth cattle receipts reach 5000 with mixed prices across categories led by calves at 6.50 to 9.60. Hog receipts total 5900 with bulk cash belows between 9.35 and 9.55. Sheep receipts 5600 show lambs 9.00 to 9.75 and yearlings 8.00 to 58.75. Goats 4.60 to 5.50.
Kansas City market reports show hogs receipts 8000 with prices 5 to 10 cents lower and varied carcass quotes. Cattle receipts 20000 with steady to 10 cent drop. prime fed steers 9.50 to 10.26, cows 4.50 to 7.50, stockers 6.00 to 8.25. Sheep receipts 5000 with steady market. lambs 16.00 to 10.35, yearlings 7.75 to 7.60, wethers 7.25 to 8.00.
Chicago July 31 market summary shows hogs with 41 000 receipts and weak demand. Bulk about 9.45 to 10.05, pigs 7.75 to 9.65. Cattle receipts 19 000. native beef cows and heifers 3.50 to 9.25, western steers 6.75 to 5.50, stockers 6.00 to 8.00. Sheep receipts 17 000. wethers 6.75 to 8.25, lambs 7.50 to 11.00.
Receipts total 4500 hogs with market lower. Prices range from 3.75 to 10.00 for various hog classes. Cattle receipts 4000 with softer market. Native beef steers 7.00 to 10.25, cows 5.50 to 8.00, yearlings 8.50 to 10.00. Sheep receipts 4200 with weakness. spring lambs 7.90 to 10.00, bleating ewes 9.00 to 10.00, yearlings 6.00 to 9.50.
Corpus Christi reports local bankers and business men say Nueces county and nearby farm lands are recovering from a eight months drought. They predict a large harvest of feedstuffs and cotton in September and October amid rapid vegetation growth in polar regions due to strong atmospheric electric currents.
In New York the week began with subdued trading and limited movement. Specialties such as American Car American Steel Foundries Atlantic Gulf West Indies Industrial Alcohol and Sears Roebuck rose 1 to 1% with American Brake Shoe preferred up 9 points while Canadian Pacific and allied rails fell. </s>
New York July 31 mercantile paper and exchange rates show sixty day bills at 4.71 percent demand 4.75 percent cables 4.7645. Guilders at demand 41 7-16 cables 41. Bar silver 64 1 2 cents Mexican dollars 49 4 6. Government bonds steady railroad bonds irregular time loans weak call money steady rates.
Lead prices in New York at $6.35 with Spelter dull. delivery from East St. Louis at $10.00. London quotes show Lead at 28 10s and Spelter at 60.
The Magnolia Petroleum Company announced a ten cent price cut on crude oil from Corsicana Henrietta Electra Strawn Hee Moran fields. The new price is 1.35 per barrel.
Marine intelligence reports El Sud arriving at Galveston. The note from the Weather Bureau explains wind speeds under ten miles per hour and precipitation under .01 inch are not published. The piece quotes Allen Buell, meteorologist, and a humorous query about spraying plants to keep them green.
The Army releases resignations and transfers of officers across multiple branches including the Alabama Maryland Minnesota California Illinois Indiana and Pennsylvania National Guards and the Medical Reserve Corps. Notable actions include acceptances of resignations for First Lieutenants Jones MacDonald Donovan Walton Clark Balsam Weissheimer Tenney and others and assigns Col. Galbraith Cabell Allen and Arthur M Arthur for new duties and examinations.
The cotton region bulletin reports fair weather across the belt except southwest Texas where showers occur. Temperatures near normal with rainfall of an inch or more at Eldorado Arkansas and Brownsville Texas. Meteorologist Weather Bureau.
Washington forecast for the week starting July 30 calls for partly overcast skies with near normal temperatures and local showers in coast districts. Gulf coast shows early week showers while the Ohio valley and Tennessee expect generally fair, warm weather with no sign of a break in the heat. The piece also reprints a light humor exchange about telephone operators.
Senator Walsh argues Justice Hughes was nominated for president by Republicans to save the party not the country and urges delaying action on the constitutional amendment. He warns of consequences if Hughes is defeated or elected and questions plans to alter the court’s independence.
A general strike by all affiliated labor unions in Mexico City disrupted tramways electric light power and mining districts Sunday. Wages are demanded on a gold basis as all stores closed and authorities work to end the stoppage while workers maintain a peaceful stance.
Pierre Lord notes a simple cooling method using 42 clay pots or unglazed pots. Moistened salt water over the pot tailors a moist surface, draining into a basin kept full of water. Alternative: wrap burlap around a porous jar with water and air flow, cooling by percolation on a dark window sill.
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