Condition Report Bullish Amid Cotton Price Dip
Market notes show a bullish condition report as cotton prices slip. Spot prices remain steady with demand stable and traders awaiting further guidance from futures signals.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jun 01, 1916
Page
13
Market notes show a bullish condition report as cotton prices slip. Spot prices remain steady with demand stable and traders awaiting further guidance from futures signals.
Daily quotations from the principal spot markets reflect a 50 cent per bale drop for most contracts after the government condition report for the season indicated 77.5 percent of normal. San Antonio middling stood at 12.18 cents per pound as moisture conditions varied across Texas with drought in the lower coast and Rio Grande regions easing.
The New York cotton market opened down 1 to 4 points but quickly firmed as covering rose for the government report. July rose to 12.80, October to 12.95, and December to 13.12 before retreating from intraday highs as selling renewed after 2 PM. The government report showed 77.5–77.6 percent crop condition, bullish but tempered by weather and Mexican worries.
New Orleans June 1 Poor buying from early trades shifted to steadier tone as traders eyed weather and condition data. By midmorning the market hovered around yesterday's close with slight gains, then fell after liquidations and short selling, ending near the prior close with mixed month positions and weather influence lingering.
New Orleans on June 1 reports cotton futures opening steady with bids for July at 2.53 cents and various months shown. prices ranged with quotes including October at 12.62 and January 12.83 while overall futures edged up 10 to 12 points at opening as traders noted steady demand and minor price moves amid market activity.
Poultry scarce notice lists fox terrier pups for sale at one and two dollars each. Located at 4 Highland Park car line, first house.
Peaches remain plentiful with East Texas receipts the largest of the season. Prices include $1.50 for four-basket crates and $2.50 for basket baskets, with expectations of abundant offerings next week to push crates toward $1. Tomatoes drop to 80 cents per four-basket crate as home garden supply increases. Strawberries and blackberries near season end. lemons hold around $4 per crate amid strong demand. Hot weather lowers surplus and keeps prices high through summer.
A wide list of wholesale prices for potatoes onions celery peppers beets green beans squash and more across Texas Colorado California plus fruits like strawberries apples bananas oranges and lemons. Entries include per hundredweight crate and box prices with regional variations and note dried yams and pecans among listed items.
Temperature and rainfall outlook from the Cotton Region Bulletin at 76th meridian time. Weather generally fair across the belt with temperatures above normal. Allen Buell, Meteorologist with the Weather Bureau, provides the bulletin from San Antonio.
Fragmentary OCR notes mention parity and rain with uncertain accuracy. The text references high wind speeds and a mea surement near peat storage region. No clear persons or organizations are identified.
Oklahoma announced plans to ship newly harvested wheat, prompting a bearish turn in the market. Futures moved from near prior closes to weaker levels as southern Oklahoma harvest cuttings began and export demand faded. July and September wheat contracts closed lower. corn and oats showed uneven moves and provisions fell.
Grain and hay prices delivered in San Antonio include corn Texas No 3 82 in mixed 81 Northern No 3 white 82 mixed 82 oats Texas No 8 red 40 white 60 sulpherzide 3 cents higher in sacks hay prices per ton range from 10.50 for prairie hay to 17 for Johnson grass Milo maize No 8 bulk 1.11 fet erita No 3 bulk 1.11 Kaffir corn No 3 bulk 1.11 cane hay 11 alfalfa etc
The report from St. Louis on June 1 provides closing prices for grains with wheat and corn quotes. Wheat No 2 red ranged around 1.06 to 1.08, No 2 hard nominal. Corn quotes featured No 2 at 71/2 to 7 1/2 cents, No 2 white at 70 cents, and other Nos. 2 and No 2 white noted as nominal or varied.
Quotations show mixed prices for grain and seeds in Kansas City. No. 1 mixed at 67 cents, No. 2 mixed at 68 cents, and No. 2 saad at 59 percent. Constants include 1.00 to 1.06 dollar ranges for certain items with varying weights.
Kansas City grain futures end steady as Wheat July 99 3/4 cents, Sept 1.00 1/4 dollars. Corn July 86 1/4 cents, July 65 cents.
The May 26 condition of the U.S. cotton crop stands at 77.5 percent of normal, per the Department of Agriculture's first season report. Comparisons show 80.0 last year, 74.5 in 1914, 79.1 in 1913, and a ten-year May 26 average of 79.6.
Buyers paid varied prices Thursday in San Antonio for corn produce and poultry. Butter and creamery prices ranged around 25 to 31 cents per pound with country packers at 17 to 18 cents. Poultry quotes covered hens at 6 dollars per dozen, large fryers near 6 dollars, broilers from 2.59 to 4.00, turkeys 11 to 16 cents per pound, ducks 4.50 to 5.50 per dozen, geese 6 to 7 dollars.
Jobbers conducted a large export business with strong orders for light weight men’s wear for spring 1917. Dress goods were in high demand from jobbers across the trade, signaling brisk activity in the garment supply chain.
Observations taken at 8 a m Thursday June 1 1916. Wind velocities under ten miles per hour and precipitation under .01 inches are not published. Allen Buell meteorologist.
Quotations show No 2 yellow corn at 69 to 70 cents a bushel and No 2 hard corn at 1.07 dollars with standard oats at around 40 cents and barley at 60 to 75 cents. The report reflects early trading in Chicago on June 1.
Local quotations list dry salt and bacon prices for dealers with bellies averaging 14-16 pounds from 11 to 18 1/2 cents, fancy breakfast bacon at 26 cents, fancy hams at 21 cents, Pure lard at 14 1/2 cents, compound lard at 12 cents.
New Orleans rice quotations hold firm with both grades steady. Receipts total 542 bags with 286 rough and 256 millers, buyers showing demand for Honduras rice at around 34 cents per pound and a small increase in sales activity.
Chicago market report lists butter at 26 28c a pound, eggs steady with firsts 21c and ordinary firsts 20 21c, potatoes unsettled with mixed regional prices, Triumphs corn sold at 1.45 to 1.60 per unit, poultry alive steady with fowls at 19 ½ cents.
Kansas City quotation summary shows butter at 29 cents for creamery, 27.0 for firsts, 2 cents for seconds, and 22 1/2 cents posting. Eggs firsts at 21 1/2 cents. Poultry prices list hens at 15 1/2 cents, roosters 10 1/2 cents, springs 25 cents. New York report notes cotton goods quiet with dull print cloths and convertibles, and firm yarns.
Trading resumed with Mexican Petroleum slipping two points while other speculations fell back. Readings rose briefly in Reading Lehigh Valley Great Northern United States and Crucible Steels and Beet Sugar plus Chandler Motors but most gains disappeared by midsession. Late buying lifted rails led by Norfolk & Western as the market closed strong.
Trading to Mexican money in San Antonio on Thursday showed the latest quotations and exchange activity.
New York June 1 reports show time loan rates at 6 percent for 90 days and 3 percent for six months, with calls at 3 percent. Ruling rate 2 percent, last loan bid 2 percent, offered at 8 percent, with high 3 percent and low 2 and a half percent in the day’s activity.
Union Stock Yards reports five markets showing hogs weak at Fort Worth and steady elsewhere while cattle stay strong. San Antonio steady across divisions as receipts reach 439 cattle 434 calves 66 horses and 26 hogs by 2 pm. Cattle sold 6 to 7 dollars per head. cows 6 to 6.50. calves 7 to 7.50. hogs range 8 to 9.89 dollars. No sheep or goats offered.
Fort Worth Texas June 1 cattle receipts 2800 market active strong steers 5007 8.75 stockers 5.6047.00 cows 4.25 6.50 helfers 6.60 8.00 bulls 4.25 6.25 calves 4.50 9.60 hogs receipts 2500 market steady to five cents lower bulk 9.25 9.45 heavy 9.40 9.50 medium 9.30 9.40 mixed 9.20 9.30 merit 9.26 9.45 common 7.25 28.00 pigs 4.50 6.76 sheep receipts 700 market steady to five cents lower ambs 9.00 10.00 yearlings 8.00 8.50 wethers 7.00 7.50 ewes 3.50 7.99 cul ls 4.00 5.00 goats 4.00
Receipts were hogs 8000 with steady market and varied lot prices. pigs and lights 7.50 to 9.65, mixed and butchers 9.40 to 9.75, heavies 9.70 to 9.76, bulk 9.40 to 9.65. Cattle receipts 2400 with strong market. native beef steers 7.56 to 10.50, varying steer and heifer 8.50 to 10.00, cows 5.5 to 8.50, stockers 5.60 to 8.50, Texas and Oklahoma steers 6.50 to 9.06, prime yearling steers and heifers 8.76 to 10.26, cows and heifers 5.00 to 8.00, prime southern steers 9.00 to 9.50, native calves 6.00 to 11.00. Sheep receipts 2700 with strong market. wether 7.00 to 8.50, clipped ewes 6.50 to 7.80, clipped lambs 8.50 to 10.25, spring lambs 10.00 to 12.25.
On June 1 in New York the mercantile paper market shows 3 percent. Sterling exchange quotes firm at 4.72 for sixty day bills and 4.75 on demand with cables at 4.761. Guilders demand 417-16 and cables 19-16 with high grade silver around 8. Mercantile 62 is steady as government bonds hold firm and railroad bonds show strength.
The London market reports bar silver at 2 3 4 per ounce and money at 44 percent. Discount rates shown include short bills at 4 4 percent three months at 4 4 percent.
Receipts show strong demand across hogs cattle and sheep. Hogs traded bulk 9.30 to 9.55 with heavies at 9.40s and lights around 9.20 to 9.45. total receipts near 8,000. Prime fed steers quoted 10.40 to 10.80, dressed beef 8.50 to 10.25, cows 6.50 to 8.75, heifers 7.25 to 10.00, stockers 6.75 to 8.69. Sheep receipts about 5,000 with lambs 9.50 to 11.60, yearlings 8.50, wethers 7.25 to 8.25, ewes 7.00 to 8.80.
Lead at 7.30 asked, Spelter weak with East St. Louis delivery at 12.00 asked. Copper firm with electrolytic near term and September and later at 29.26. Iron steady, tin dull with spot prices between 45.00 and 46.00.
Chicago market notes June 1 show hogs receipts about 18 000 with firm values across weights to 9.80 for heavy hogs. Cattle receipts around 3 000 with steady demand and cattle prices from roughly 9.25 to 11.05 for natives and week’s ranges. Sheep and lambs also strong with wethers around 7.50 to 9.50 and lambs from 8.00 to 10.60 reflecting steady to firm demand.
Report from London notes lead at 31 168, Spelter 76 spot, copper futures 11K, electrolytic 140 pounds sterling. Spot tin 187 pounds sterling with futures at 1s7. Markets show price quotes in pounds per ton with currency details.
The Washington Star notes the waltzing ostrich as a rapid, circular display with wings spread. A large flock performs a dizzying whirl, with birds darting forward in sequence until the group spins until exhaustion or stumble. Chicks begin young and learn turns with age, adults sometimes breaking legs in falls. The dance appears instinctive even when birds are reared apart.
A brief market note shows current cotton prices in San Antonio with quick quotes on fiber trends. Traders note demand signals and regional price levels shaping week ahead momentum.
Savannah for June shows turpentine firm with sales 270 and receipts 666, shipments 117, stock 11021. Resin firm lists sales 578, shipments 3946, stock 4 Geetatians price 4.85 to 6.55 across several letters. incomplete entries end with W W.
New York on June 1 reports a firm cotton seed market. Spot prices range around 10.96 to 11.25, with nearby futures from June to December quoted between 9.16 and 10.96. Total sales reach 19,200 units.
Cotton spot weak with good middling at 8 3 4 d and middling at 4 7 32 d. Trade recorded 10 006 bales sold for speculation and export 1 000 bales. Receipts 13 500 bales.
In Liverpool on June 1 futures were steady with various contract quotes including June at 8.195d and several successive monthly spreads such as June-July 4 and August-September 3.0394, detailing a steady forward curve.
The railroad commission tariff on stone sand and gravel issued after the freight rate hearing became effective today in Austin.
Five loads of quarantine cattle, market strong. Sheep receipts 6000, market strong with higher bids for Blackstone clipped Texan wethers. unsold at noon. Goats firm.
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