Liverpool cables encourage buying in cotton market
Liverpool cables report a firmer cotton market with buy orders increasing. Traders note steady demand and tightening supplies as prices edge higher across early trading sessions.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jun 22, 1916
Page
11
Liverpool cables report a firmer cotton market with buy orders increasing. Traders note steady demand and tightening supplies as prices edge higher across early trading sessions.
The June 22 cotton market moved up and down with limited net change as Liverpool cables supported buying at the open. July contracts stayed firm amid demand while reports of cool nights and favorable weather kept sentiment cautious. New York and New Orleans closes were steady to very steady, with spot prices in New Orleans reaching season highs and San Antonio seeing gains.
New York cotton futures opened steady with July at 13.05, October 13.20 and December 13.38. Prices climbed to new season highs before midday and then eased, with July near 13.07 and October 13.18. Late session buying supported gains as spot demand remained firm, while New Orleans futures showed a sharp rally before a late, broad selling wave.
The New York coffee market showed a softer tone with December contracts opening at 8.26, 28 points under Monday's bulge. Close finished 13 to 18 points lower as overall sales reached 43,750 with prices across the curve from June at 7.92 to May at 8.49. Spot coffee remains barely steady amid varied notes and a China kerosene import figure cited.
The table lists cotton seed quotations for July through December with price ranges and a total sale figure of 9300. Prices shown include July at 10.959 to 10.96, August 10.87 to 10.88, September 19.86 to 10.87, October 9.88 to 8.90, November 8.87 to 8.88, and December 8.84 to 8.86, plus a total sales figure of 9300.
No. 270 Department of Insurance and Banking of Texas issues certification to Prudential Life Insurance Company of San Antonio affirming compliance with Texas law and authority to operate for 1917, dated June 7 1916 in Austin.
Two car loads of San Antonio district poultry were shipped to New York commission houses on Wednesday. Prices held steady for most items as ducks and geese dropped one dollar per dozen while cantaloupes saw lower prices due to increased shipments. Local supply remains ample with 10,000 more soldiers to be encamped at Ft. Sam Houston, supporting demand for fresh produce. Texas oats sell for 41 cents as conditions gradually improve.
In New Orleans on June 22 buying interest appeared as good cables entered the market. Offerings were limited and weather news favorable though cool nights drew some complaints. Prices rose 4 to 8 points early, then drifted as forecasts called for fair weather across the belt. By noon the market steadied after short covering with net gains of 4 to 5 points.
In New Orleans on June 22 cotton futures opened steady with July at 12.81 cents, October 12.98, December 13.15, January 13.27, and March 13.45. Close showed very steady levels with mixed highs and lows across the contracts. A Liverpool call is expected Friday, lifting 12.5 to 13% points, while New York call updates follow later in the day. Kansas City grain futures also closed mixed with wheat July 96.5 cents and September 98.0, corn July 70.0 and September 69.0.
Spot cotton slips as sellers press maigre demand. Good middling quotes 8.38 pence, middling 8.224, low middling 8.044. Sales total around 1.5 million pounds for export and speculation with receipts of about 13 thousand bales.
Futures prices ease across the board in Liverpool on June 22 with steady declines for the new cycle contracts from June to July and through to June July of the following year. The sequence shows continuous small reductions in each successive monthly spread.
Raw sugar held firm with centrifugal at 86.27 cents. Molasses 5.50. Refined products quiet with various forms of sugar priced from 7.50 to 8.80 per pound, including cubes 8.15 and fine granulated 7.65.
The weekly national weather and crop bulletin reports cooler and wetter conditions hinder cotton in the northern belt while central and southern regions show plant improvement. Boll weevils are found in scattered Texas, Louisiana, Mississippi, Alabama, and Florida localities with early cotton forming squares or bolls in central and northern Texas and some replanting underway after damage.
Hogs again took the important position in the cattle markets with tighter receipts boosting prices. Chicago posted 9.55 to 10.15 for heavy butcher hogs, while Kansas City and St. Louis offered 9.80 to 9.95 and 10.00 to 10.10 respectively. Local hog receipts rose to 186 with prices steady at 89 to 9.26. cattle and sheep showed mixed moves with cattle at 4.50 to 5.25 and sheep steady to strong. Receipts at the yards: cattle 217, calves 109, hogs 311, horses 29. For this market, cattle 159, calves 17, hogs 185.
Fort Worth Texas June 22 cattle receipts 8000 market steady with steers 5.00 6.50 cows 4.50 8.50 calves 4.00 5.00 hogs receipts 2000 market up about one cent bulk 9.70 9.85 heavy 9.85 9.90 pounds ranges and sheep receipts 200 lambs 9.00 9.50 yearlings 8.00 8.50 6.75 7.25 for wethers and ewes 6.00 6.60 goats 3.60 4.76.
June 22 market notes show hogs trading higher with top around 39.89 and receipts of 20 000 in Chicago. Cattle receipts near 000 with native beef cattle 7.76 to 11.40 and western steers 8.40 to 9.45. Sheep receipts 10 000 with wethers 7.10 to 8.10 and lambs 7.65 to 10.25.
Receipts given for hogs 8000 with mixed and butchers at 9.50 to 10.19, best hogs around 9.95. Cattle receipts 8700 with native beef steers 7.50 to 11.35, yearling steers 5.59 to 9.99, prime yearlings 8.75 to 10.25, cows 5.00 to 8.00, prime southern steers 9.00 to 10.96. Sheep receipts 4066 with wethers 6.00 to 8.00, clipped ewes 4.00 to .09, clip lambs 6.00 to 10.00, spring lambs 7.00 to 11.55.
Kansas City stock market report shows hog receipts at 10,090 with higher Bulk at 9.70 to 9.90 and pigs 8.55 to 9.00. Cattle receipts about 4,000 with prime fed steers 10.25 to 11.00 and cows 5.00 to 3.25. Sheep receipts 2,000 with lambs 8.50 to 11.40 and yearlings 7. cat 50.
New Orleans on June 22 reported clean rice held strong while rough rice traded inactive with unchanged quotes. Receipts showed rough at 1 and clean Honduras 1312 pockets.
New Orleans cotton markets showed fluctuating prices with early gains offset by brief dips. Analysts cited supply concerns and demand shifts in textile markets affecting futures. Prices hovered near recent highs as exporters awaited weekly trading data.
Better weather in the southwest and weaker cables eased the wheat market in Chicago. Oklahoma harvest progress and improved grain quality supported prices, while Nebraska crop readings were bearish. July futures opened around 1.07 1/2 to 4.04 and fell before a weak rally. closing near 1.02 1/2 for July and 1.05 for September. Carlot prices in San Antonio showed mixed readings for corn, oats, and hay, with various grades quoted and several forage items listed per ton.
Quotations to Day show Wheat at No 2 red nominal and No 2 hard, Corn No 2 yellow 76 1 2 cents, Oats Standard 49 41 2 cents, Barley 60 7 cents. The report notes Chicago price levels for standard grain grades on June 22.
A St. Louis report lists grain prices for June 22 with Wheat No. 2 red at 1.10 to 1.11, Corn No. 2 at 76 cents, Oats nominal, and No. 2 white at 76 1/2 cents.
Kansas City reports grain prices with quotations for wheat at 97 to 104 cents, corn mixed and white bids around 72 to 78 cents, and oats white at 40 to 40 1/4 cents per bushel, listing No 2 and No 3 grades and variations.
A batch of awards for furnishing supplies to state eleemosynary institutions was announced by State Purchasing Agent Leavy. Fresh meats contracts went to Armour & Co, Swift & Co, W H Westbrook, and the Excelsior Meat Market. Rotary goods contracts were awarded to McKean-Eislers & Co Austin Higginbotham Bailey Logan Co Dallas A B Frank Co San Antonio Perkins Bros Sanger Bros and Smith McCord Dry Goods Co. Austria showcased paper products for cold aid substitutes.
Receipts rose across all fresh lines with steady demand and strong merchant activity. Peaches led with three solid carloads. prices ranged 86 cents per crate of four baskets and 1.75 per bushel, while cantaloupes brought 1.25 per bushel hamper and New Orleans alligator pears sold for 5.50 per crate.
Local packing house quotations to deal this week include dry salt extras at 154 cents, bacon extras 114 and a half, dry salt bellies 14 to 16 pounds average at 17 cents, fancy breakfast bacon 26 cents, fancy hams 21 cents, bacon bellies 14 to 16 pounds average 19 cents, pure lard 14 and a half cents, and compound lard 12 cents.
Buyers paid listed rates for country produce in San Antonio on Thursday. Butter and Texas creamery price ranges are shown, with poultry values including hens, fowls, broilers, turkeys, ducks and geese per dozen or per pound. Prices vary by product and grade across creamery, country, and packing stock categories.
Quotations today show butter unsettled with creamery at 25 28% and eggs steady amid 19 844 cases received. Potatoes ease while old receipts from Michigan Wisconsin Minnesota and North Dakota show white at 1.00 to 1.18, new receipts 1.45 to 1.50 for Triumphs. Poultry alive steady with fowls at 17% cents.
Quotations for dairy and produce show Butter 29c firsts 27c seconds 25c packing 22c Eggs firsts 21% sc Poultry hens 15c roasters 10c springs 25c New potatoes steady Texas Oklahoma Louisiana Triumphs 1.10 old potatoes steady Minnesota Red Ruralis and Ohios 1.10 Individual fenders for each front wheel of a motorbus mounted to stay ready for use invented by a London resident.
New York dispatch notes Mexican market pressures prompt broad initial selling of United States Steel Reading Rock Island and Kennecott Copper. Mexicans Marine preferred and key metals slip one to two points as out of town liquidations add to the downturn before bids ease and prices recover late morning.
Weather in the belt generally unsettled with above normal temperatures and rainfall likely. Includes wholesale commodity prices for grains meats canned goods and seeds with numerous per hundredweight and per pound figures across corn oats wheat flour soybeans and dried beans.
Copper dull with nearby electrolytic prices noted. September and later futures quoted at 27,5029.25. Iron steady and tin steady with spot offered at 40. Lead at 6.85 asked. Spelter dull with spot East St. Louis delivery at 124% asked.
Spot copper 8 dollars to the pound with futures at 96 pounds sterling. Hydrated copper 137 pounds sterling. Spot tin 173 pounds sterling with futures 178 pounds. Lead 30 pounds sterling. Spelter 67 pounds sterling.
New York June 22 Mercantile page shows sterling at 4.75 demand and 4.72 to 4.76 cables for 60 day bills, guilders 415-14, Mexican dollars at 494. Government bonds steady, railroad bonds irregular. Time loans steady with 90 days at 34 3 percent and 60 days at 34 3 percent. Call money steady with high 8 percent and ruling rate 2 percent.
In Savannah on June 22 turpentine firm shows sales 38 88 percent with 533 receipts 1101 and stock 13086 while resin firm reports sales 1524 receipts 673 shipments none and stock 64646 with multiple notations and prices listed for various grades.
The New York market report for June 22 notes irregular wool goods demand, quiet cotton goods activity, slight improvement in laces, and dull embroidery.
U S Department of Agriculture Weather Bulletin shows 8 am observations for Thursday June 22 1916. Wind velocities under 10 mph and precipitation under .01 inch not published. Noted by Allen Buel meteorologist and teacher Jimmy remarks on Copernicus and solar plexus.
Texas railroads report a 21.34 percent rise in operating income for ten months ending April 30, 1916, with total operating revenue up to 94.35 million and freight, passenger, and expense increases cited by the Railroad Commission.
Wholesale prices to trade list Texas onions 1.78 per crate and other greens. Texas celery 3.75 per dozen. Peppers and beets priced per crate or dozen, cucumbers per bushel, and tomatoes, lettuce, parsley with California and Texas figures. Also fruit prices for apples, bananas, oranges, lemons, limes, peaches, plums, raisins, figs, dates, and canned goods with varied case and box rates.
The electric eel of South America is described as a live wire capable of stunning prey with electrical shocks. Giants may reach six feet, with a tail that regenerates after breakage, and a battery-like organ under the skin powers its shocks. Scientists note uncertainty about how the battery is kept charged and renewed. The piece contrasts factual detail with a political quote about changing minds from two sources.
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