Cotton market steadies after opening decline
The cotton market shows stabilization following an early drop as traders assess prices. Liverpool operates as a seller, influencing market direction and offering supply signals for traders.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jun 29, 1916
Page
15
The cotton market shows stabilization following an early drop as traders assess prices. Liverpool operates as a seller, influencing market direction and offering supply signals for traders.
The June 29 report notes a bullish lift from New York Journal of Commerce on Texas and Oklahoma cotton, offset by weaker cables. Prices firm after a lower New Orleans and New York opening with midday gains 3 to 7 points, futures steady with modest Downturns, San Antonio at 12.69 and New Orleans at 13.06, with local compress prices listed for grades from good to strict low middling.
The New York cotton market held steady after declines tied to disappointing cables and a private crop report placing condition at 79.1 percent, up from 77.4 last month. October rose to 13.21, with July near last night’s close and new crop around 13.23 to 13.38. boll weevil reports added pressure later.
In New Orleans on June 29 the cotton market rose after an initial 5 to 6 point decline as buyers were buoyed by small spot offerings and optimistic crop prospects. By noon most contracts showed net gains of 3 to 7 points and closed very steady, up 0 to 1 point from the previous close.
New Orleans cotton futures opened steady with bids led by July at 12.91, October at 13.01 asked, and January at 13.21. Prices for March were not fully stated in the readable text.
Spot cotton held steady in Liverpool with good middling at 8.374 pence, middling 8.214, and low middling 7.854. Sales reached 5000 bales, including 500 for speculation and export.
Liverpool reports a quiet futures session with prices across several forward months. Notable quotes include June 7.95134, June-July 7.954, August 7.934, and later spreads such as November-December 7.75, January-February 7.71.
120 acres in Blackland near Nixon Texas offered for trade. Property includes a five room house with telephone and lights, artesian well, and clear title. Trade sought for income property in San Antonio. ARD & Schnelle, 216 17 Alamo National Bank Building, Tr. 154.
Government weekly weather and crop report for Texas notes near total crop failures in Corpus Christi Brownsville and Laredo with little effect on local produce markets. San Antonio will feel drought impacts in early fall unless rains return. Navy beans are off market as government stock sold, canned tomatoes rise ten cents to 1.35 a dozen, peaches plentiful at 50 cents per four baskets, eggs suffer losses from heat while prices stay largely steady.
Wholesale markets list prices for fresh vegetables and fruits to retailers and shippers. Texas onions celery cabbage and peppers appear with crate, per dozen, and per bushel quotes, plus California and Washington fruit prices, imported items, canned goods, nuts, and cereals across multiple lots and units.
Chicago reports wheat prices sag despite higher Liverpool quotes and heavy spring rains. July and September futures slipped early, then edged higher after Paris gains. Better weather eased corn, with prices rallying in nearby deliveries while oats moved little and provisions trended down.
Buyers paid mixed prices for grain and hay in San Antonio on Thursday. Corn Texas No 3 84 1 2 c per bushel and Northern No 3 white 86 1 2 c. Oats Texas No 3 red 41 c. Hay prices per ton and bulk: Mile maize No 8 1 15, feterita No 3 1 15, Kaffir corn No 3 1 16, cane hay 11, prairie hay 10 50, Johnson grass 11, alfalfa New Mexico 16.
Quotations listed for June 2 show wheat at No 2 red 1.11 per bushel and No 2 hard nominal, corn No 2 The No 2 white 77e, oats No 2 40 41c and No 2 white as read.
Quotation figures for wheat corn and oats reported in Kansas City on June 29. Wheat No 2 hard 97 cents to $1.04 No 2 red 96 to $1.02. Corn No 2 mixed 73 to 74 percent No 2 white 73 to 74 cents. Oats No 2 white 40 to 41 cents No 2 mixed not fully shown.
Kansas City grain futures closed with July wheat at 95 and September 98. Corn finished July at 72 3 4 cents and September at 84 1/4 cents.
Chicago provisions report lists pork high and low prices with near term closures. A Buffalo News joke features Simon Mish enduring three strange phone calls while taking a bath, culminating in a punchline about removing the bathtub rather than the telephone.
The Union Stock Yards report a dull cattle market on Thursday with heavier receipts and two thirds rated half fat. Good steers hit 6.00 to 6.50, cows 1.50 to 5.50, calves 4 to 6.50, hogs 6 to 7.50 local price range, and foreign markets listing heavies at 9.25 to 9.90. Receipts: cattle 824, calves 125, hogs 79, horses 1.
Fort Worth Texas market data shows cattle receipts 3490 with steady trade and varied prices for Beeven stockers cows heifers bulls calves while hogs receipts 2000 move steady to slightly lower with bulk and average ranges and sheep receipts 200 with steady to unchanged values across lambs wethers and culls goats listed with price spread.
Kansas City with receipts totals for cattle hogs and sheep. Hog receipts seven thousand with mixed prices and a lower market. Cattle receipts four thousand five hundred with steady firm tone and varied prices for prime fed steers dressed beef steers southern steers cows heifers stockers. Sheep receipts two thousand with steady market for lambs yearlings wethers and ewes.
Hogs receipts 26 000 with a slow market. Bulk 9 559 78, light 9.30 to 9.75, mixed 9.30 to 9.80, heavy 9.25 to 9.85, rough 9.25 to 9.40, pigs 7.60 to 9.20. Cattle receipts 4 000, market weak. Native beef cattle 7.50 to 11.25, western steers 8.50 to 99.50, stockers 5.75 to 8.80, cows and heifers 3.75 to 9.85, calves 8.50 to 31.78. Sheep receipts 11 090, market weak. Wethers 6.90 to 7.90, lambs 7.55 to 9.50, springs 7.25 to 10.85.
Receipts at St Louis show hogs 7500 with steady prices and mixed grades from 9.60 to 9.90. Cattle receipts 2809 with steady values across native beef steers yearlings cows and stockers. prime southern and Oklahoma steers listed up to 10.00. Sheep receipts 6000 with steady pricing for wethers ewes lambs and spring lambs. An odd closing line notes a pair of shears and a buffer polishing fingernails.
The Philadelphia Record reports that many C. O. D. orders are never accepted by customers. Women in particular recall urgent bills and avoid payment, returning packages marked N. O. H. or facing shoplifting schemes. Stores maintain a stop list to block deliveries to chronic D. W. customers.
In New York the Mexican situation boosted stocks at the open. American troopers' release spurred gains in Mexican Petroleum and war and metal groups while U S Steel moved higher. Afternoon activity showed uneven trading but the market closed strong led by steel and related issues.
Mercantile papers show 24 3 percent, sterling exchange active for 60, 90, and 180 day bills. Cables quoted 4 7 16, government and railroad bonds steady to firm. Time loans easy with 60 days at 3 3 4 percent and 90 days at 3 4 3 percent. Call money firm with a high near 3 percent and ruling rate around 2 3 4 percent.
F C Weinert reports a Dallas regional bank board decision to supply funds at 3 percent to Texas banks for loans to farmers at 6 percent on cotton in bonded warehouses. Banks must certify chicken that customer rates do not exceed 6 percent per year as part of financing the Texas cotton crop.
Vingers reported Thursday prices in San Antonio for country produce. Butter at 25 to 30 cents per pound, creamery. Poultry steady with hens at 4.50 to 6.60 per dozen, large fryers 4.60 to 5.50, broilers 2.50 to 3.50, turkeys 16 to 17 cents per pound, ducks 4.00 to 5.00 per dozen, geese 4.50 to 5.00. Additional country produce quoted 20 to 25 cents, packing stock 18 to 19 cents per pound.
Quotations listed for butter creamery 29 firste 37c seconds 25c packing 22c eye firsts 2149c poultry hens 16c roosters 10c springs 26c new potatoes steady and Texas Oklahoma Louisiana Triumphs 76c.
Quotations show butter creamery at 23 27 cents, eyes higher with arrivals 14 290 cases. Firsts 21 22 cents, ordinary firsts 20 21 cents. Potatoes higher with new receipts 60 cars. Triumphs sold 1.10 1.25, Virginia and Carolina barreled 3.75 4.00. Poultry alive lower with fowls 16 cents and springs 24 2 cents.
State Purchasing Agent George Leavy completed awards for furnishing dry goods to Texas eleemosynary institutions. Final batch went to Higginbotham Bailey Logan and Sanger Bros of Dallas, Mckean Eilers and Co of Avetin, Perkins Bros of Dallas, A B Frank Co of San Antonio. Butterine contract for 71 100 pounds awarded to Morris and Company of San Antonio.
New York sugar prices held steady on June 29 as centrifugal sugar traded at 6.40 dollars while refined goods showed stable values including cut loaf 8.80, cubes 8.15, and several granulated grades ranging from 7.50 to 7.65 dollars per pound.
New York June 29 government requisitions for dry goods supplies tended to stiffen markets yesterday with army duck discounts cut to ten off the list. Yarns remained firm while laces and embroideries showed dull activity.
In New Orleans on June 29 rough rice remained nominal while clean rice stayed quiet with prices unchanged. Receipts totaled 600 pockets with sales of clean Honduras at 74 pockets.
Lead prices held at 6.90 in New York with dull Spelter and spot St Louis delivery. London quotes show lead at 29 pounds sterling 5s and Spelter at 3 pounds sterling. Cotton seed oil futures listed for July to December with varied prices and total sales 5900 units.
Temperatures and rainfall across the Houston district in 75th meridian time. Conditions are generally fall with above normal temperatures. Rainfall measured at Alexandria and Mobile amounts to an inch or more. Allen Buell, Meteorologist Weather Bureau.
Internal Revenue figures report May receipts at 88,251,363 dollars, up 7,066,918 from May 1916. The income tax contributed a large share of the increase.
In Savannah on June 29 a turpentine firm shows sales of 38, receipts 502, shipments 450, stock 10,147. A resin firm records sales 1223, receipts 1552, shipments 7270, stock 61,472. Quotations list varied prices for grades A through W with small shifts and fractional changes.
Liverpool reports weekly cotton figures with totals for forwardings stock and imports American shares. The item also notes exports and includes humorous quotes about Professor Lounsbury and a dinner party mispronunciation from Tit-Bits and Boston Transcript.
Washington June 29. Census Bureau reports 1915 cotton seed crushed totalled 4,201,059 tons versus 5,779,665 tons in 1914. Linters reached 930,469 equivalent 500‑pound bales, up from 856,900 in 1914. State figures follow.
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