Cable price trend noted with early highs and later declines
July trading remains light as initial high cable prices ease over time. Market observers cite gradual demand slowdown and seasonal factors affecting small buyers.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jun 28, 1916
Page
15
July trading remains light as initial high cable prices ease over time. Market observers cite gradual demand slowdown and seasonal factors affecting small buyers.
Principal market notes from June 27 describe a see saw day with little change despite a bullish outlook. New Orleans and New York futures moved within narrow bands as trade securities minorly aided demand. San Antonio reported a 12 point gain with middling prices around 12.75, and local compress prices showed varying grades from 12.25 to 12.99.
The New York cotton market opened steady with a small gain then slipped on stronger cables and selling, October at 13.12 and December 13.29 after the call. Prices recovered modestly on covering and demand, October to 13.22 and December 13.37, finishing the day steady despite a cautious weekly weather outlook.
Cotton futures opened steady with July at 12.93 and October at 18.18 while December and January traded around 13.34 and 13.37 respectively. The close also showed little change with higher and lower bounds noted and Liverpool exports expected to move ahead Thursday.
New Orleans cotton futures opened higher by 5 to 6 points on nearby months as July slipped early on liquidation. After morning lows the market recovered, trading 10 points above the bottom by noon and closing steady with a 1 to 3 point gain.
New Orleans cotton opened steady with July bids at 12.94 and October at 13.08. December stands at 13.20 and January at 13.29 while March 13.50 asked. Early high low and close figures are listed for July October and December sessions.
Liverpool June 28 cotton spot ease with good middling at 8.354 middling 8.19d and low middling 8.034. Sales for speculation and export show 000 bales. Receipts total 8200 bales.
The Liverpool futures board shows steady overall values on June 28 with multiple contract series listed. Rates range from 7.68 percent to 7.98 percent across June to July and through to next year, reflecting typical summer movement and calendar spreads.
Cotton prices quoted for July through December with bid and ask figures. June 28 totals show 17 509 in sales.
The railroa d commission revised and reissued the tariff on packing house products in carload shipments. The new schedule changes several rates for canned goods soups clam products and related items with some increases and some reductions. The revised tariff takes effect July 10 and supersedes the June 1 tariff. Dix jokes about never marrying due to lack of money to tempt a wife.
San Antonio traders report heavy receipts at the produce market but overall business judged off with improved fruit supplies. Cantaloupes and peaches plentiful and in steady demand while an Austin seizure of 50,000 bad eggs is noted but local impact limited. A further poultry shipment to New York is planned this week to sustain prices amid ample local supply.
Wholesale prices to trade for a wide range of produce and goods. Texas new potatoes at 2.50 per hundredweight, onions at 1.75 per crate, tomatoes 75 80e per 4-basket crate, celery 0.75 to 1.00 per dozen, cabbages 3.50 per hundredweight, peppers 1 per 4-basket crate, various fruits including Washington Winesap apples 2.25, bananas 3 to 3.25 per hundredweight, Valencia oranges 3.50 per box, lemons 4.76 per box, figs 2.25 per case, raisins up to 1.49 per pound, and canned goods with multiple item prices for stock to trade.
General selling by commission houses led to weaker wheat prices as large supplies and favorable harvest conditions weighed. July opened about unchanged to 0.5% lower, later near opening levels. September slipped, December closed higher. corn eased with larger country offerings. oats opened steady to slightly lower. provisions averaged a touch lower.
Buyers paid Texas No 3 corn 84 to 86 cents and mixed lots around 2 to 4 cents. Northern No 3 white corn 86 cents. Oats Texas No 3 red 4 cents. Hay prices: Mile maize and feterita bulk about $1.18 and $1.15 per ton. Kaffir corn $1.15. cane hay $11. prairie hay $10.60. Johnson grass $11. alfalfa pea green New Mexico $16 per ton.
A brief market note surveys cotton prices in New Orleans with quick daily figures. Traders monitor bidding, futures, and local trading activity for short term directions.
June 27 market report shows hog receipts more than doubling previous day with best hogs $9.25 and low $7.60. Cattle steady amid light offerings. steers $5.00-$6.50, cows $5.00-$5.50, calves $5.90-$6.50. Sheep steady $5.00-$6.00. Local yard totals: cattle 660, calves 128, hogs 150, sheep 299, horses 194.
Wheat prices steady at 1.02 for No 2 hard and red types. Corn shows No 2 yellow trading around 41 to 40 cents, with barley quoted near 60 to 78 cents.
Wheat No 2 red sold at 1.13 dollars per bushel while No 2 hard held nominal. Corn No 2 at 78 75 cents, No 2 white at 75 75 percent. Oats No 2 at 40 cents, No 2 white listed as nominal.
In Kansas City on June 28 the Wheat market showed No 2 at 96 cents to 1.04 dollars, No 2 red around 0.96 to 1.02 dollars. Corn prices listed No 2 mixed about 72 and No 2 white around 72 to 73 cents. Oats quotes for No 2 white 40 to 41 cents and No 2 mixed about 34 to 34. tac.
Cattle receipts 4500 steady with bees estimated prices from $6.00 to $9.50. Stockers $5.00-$6.50, cows $4.00-$6.50, heifers $3.50-$8.25, calves $4.50-$9.50. Hog receipts 4000, 5-10 cents lower. bulk $9.60-$9.76, heavy $9.75-$9.80, medium $9.66-$9.75, light $9.45-$9.75, common $7.50-$8.50. Sheep receipts steady to lower. lambs $9.00-$9.50, yearlings $8.00-$8.50, wethers $6.79-$7.00, ewes $6.00-$6.50, culls $4.00-$4.50, goats $4.00-$4.60.
Hog receipts 24 000 mixed and heavy price ranges noted. Cattle receipts 13 000 with native beef cattle and western steers listed at varied values. Sheep totals 14 000 with lambs and ewes priced within established ranges.
Kansas City reports grain futures closing with July and September wheat and July corn showing mixed prices. A transcription error obscures parts of figures but indicates market action and futures values for wheat and corn.
Chicago June 28 market quotes for pork products show open high low close for Fork and Lard with values around 24.75 for Fork and 13.57 to 13.70 for bacon related items. Local packing house prices list dry salt extras bacon extras and ham prices with lard and compound lard at various percentages and averages.
Kansas City market notes show hog receipts about 12 000 head with prices from 9.55 to 9.85 per hundredweight for lighter hogs and 9.75 to 9.85 for heavy hogs. Cattle receipts around 7060 head with prime fed steers 10.25 to 10.75, other categories 6.40 to 10.00, cows 5.00 to 8.25, stockers 6.76 to 9.00. Sheep receipts 5000 head with lambs 8.50 to 10.75, yearlings 7.85 to 8.20, wethers 6.25 to 7.50, ewes 6.00 to 7.75.
Cattle sales listed with average weights and prices from Fort Worth on June 28. Notable entries include Duffy of Gainesville with calves at 687 pounds priced around 7.00, Genoa with 169 calves around 7.00, Owenaby of Celina with stockers near 4.45, and Hadley & Snyder of Baird offering calves near 7.76.
Oklahoma City reports slim price declines across cattle hogs and sheep. Cattle 1600 head down ten cents with top not listed. hogs 3300 head ten cents lower to a top of 9.75. sheep 200 head steady. Local names on sales include Westheimer and D Mills, Hood, Bill Creek, and Swearinger Brothers among others.
Prices paid in San Antonio on Wednesday for country produce. Butter 25c per lb, creamery 25c, country 20 25c, packing stock 18 19c, poultry steady with hens 6.50 to 6.60 per dozen, large friers 4.60 to 5.60, broilers 2 503.60, turkeys 16 17c per lb, ducks 4.00 to 5.00 per dozen, geese 4.50 to 5.00.
St Louis cattle and hog receipts with price ranges across categories. Hogs blend lower to mixed classes with carcass and bulk bids in the mid to upper nine dollars. Cattle include native steers yearlings cows stockers and calves with varied values, prime and southern steers shown. Sheep listings cover wethers ewes and lambs with steady demand and price spans.
American exports for May reached 172 million dollars breaking all prior monthly records by 61 million. The May total was 300 million more than the 1911 to 1914 May average, with the year to May at 4.136 billion. Imports for May also set a new peak at 299 million.
New York reports steady cotton goons and firmer yarns and wooddress goods while silks and ribbons remain quiet. The tone suggests little price movement with overall cautious activity in the textiles market.
The Texas State Department of Agriculture received thousands of insect specimens cabinets and entomology literature as a donation from the late Dr. E W Russell a Massachusetts entomologist and naturalist. He spent his last months in Dallas with his daughter Mrs F J Hall and visited the state fair where he noted the department collection’s educational value.
Kansas City market notes list butter values for creamery firsts at 27 cents and seconds 26, packing 22, eggs set at 21 to 43 cents, poultry hens at 10 1/2 cents roosters 10 1/2, springs 25 cents, new potatoes weak from Texas Oklahoma Louisiana at 7 cents, old potatoes slow with Minnesota Red Russets and Ohio varieties at 75 to 90 cents.
Quotations for butter creamery at 23 15 274e, eggs steady with 19212 cases received. Firsts 21% 21%c, ordinary firsts 19% 201,¢ at mark. Potatoes higher with 50 car receipts. Triumphs $1,900 1.25, Virginia and Carolina barreled $3.75 3.99. Poultry alive lower, fowls 16%¢, springs 24 2c.
New York reports sugar markets as quiet with Centrifugal at 6.40 and molasses at 85 6 percent. Refined sugars hold steady with cut loaf 8.80, crushed 8.65, mould A 8.15, cubes 8.16, powdered 7.80 and 7.75, fine granulated 7.65, confectioners A 7.55. No. 1? references appear as isolated data points.
New York June 28 Early trading in stocks showed a mixed, incomplete start with fractional changes. Reading and Union Pacific led rails with gains. Marine, United Fruit, Willys Overland, Studebaker, Crucible Steel and Colorado Fuel rose, while Mexican petroleum fell sharply. Petroleum slipped four points, others edged up on short covering before an irregular close.
The belt shows generally fair conditions with above normal temperatures. Rainfall of an inch or more reported at Port Gib ron, Meridian, Arapaha, Dublin, Tallahassee, Charlestown, St. George, Augusta, Blackville and Galveston as per Allen Buell Meteorologist Weather Bureau.
Mercantile paper quoted at 2.403% per cent, sterling 60 day at 4.72, demand 4.75 5 cables 4.767-16. Guilders demand 4.17 16, cables 4.16. Bar silver 66 1/2 ¢. Mexican dollars steady. Government bonds steady. railroad bonds irregular. Time loans steady 60 days 3 1/4 percent, 0 days 3 percent, six months 4 4 percent.
Lead priced at 6.99 with 11 percent asked delivered from East St. Louis. Copper steady near 27.00 to 29.25 for electrolytic shipments. Tin offered at 38.37 with market unchanged. Iron holds steady. Lead, copper, tin price quotes cited alongside London and East St. Louis delivery references.
Weather helps cotton with progress noted across the South as heavy showers interrupt cultivation in spots. Boll weevils rise in Florida, Georgia, Alabama, Mississippi, Texas and northern Louisiana. cotton lice appear in Alabama. Corn favors the South but remains cold in the North. rain needed in Texas and parts of Louisiana. Peaches ripen in Georgia and shipments rise.
Observations taken at SeesTAR Meridian time on Wednesday June 23 1916. Wind velocities under ten miles per hour and precipitation under .01 inch are noted. Allen Buell, Meteorologist, notes a remark about workers urged to strike, with a quip about Sageball batters.
New York reports a steady opening as December and March contracts dip from earlier levels amid covering and European demand. The market closes with a net loss of 3 to 7 points while display prices for June through May range from 7.67 to 8.24 including spot Rio and Santos quotes.
Weather was hot and dry with some beneficial showers in northern areas. Cotton and rice showed satisfactory growth with various stages from planted to blooming. Boll weevil reports rose in many locales, though damage remains limited. Corn and truck crops suffer from moisture shortage, and extreme South Texas drought continues with unsatisfactory non irrigated crops and cattle moving north for feed.
The New Orleans rice market showed rough rice nominal and clean grade quiet. Receipts totaled 232 rough, 232 millers, 1563 clean, with 322 sales of clean Honduras and quotations unchanged.
The late Gilman Marston of New Hampshire argued a complex case before a judge who struggled to follow the points. After an hour and a half the lawyer requested patience saying he hoped the judge could keep up. The judge admitted uncertainty and suggested quitting for the moment.
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