Cotton Drops on Rain Hit Eastern Bel Movement Uneven
Reports from Eastern Bel indicate cotton yields fall due to rain with uneven movement. The weather disrupts harvest plans as growers assess impacts across districts.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
May 16, 1916
Page
11
Reports from Eastern Bel indicate cotton yields fall due to rain with uneven movement. The weather disrupts harvest plans as growers assess impacts across districts.
The daily quotation summary presents spot cotton prices for the middling grade delivered at market in San Antonio Houston Galveston New York New Orleans and Liverpool. The figures listed include 8.640 and 8,000 as representative prices.
The New York cotton market opens firm to steady with July and October showing buying and selling activity by local brokers. Prices ease from early gains as eastern belt rains trigger selling, with July at 12.87 and October at 12.98, about 6 to 8 points lower, but later steadies. Liverpool market reported very steady, and overall trade remains moderate with afternoon activity muted.
Fragmentary stock quotes show July 2008 figures including highs lows and closes. The readable bits reference Ont and DOG and RAT labels alongside numeric values 12.85 12.91 12.93 and 39.08 38.87 30.96 with various time stamps and codes.
Liverpool plans to open on Wednesday from 1 to 8 points higher as officials note attention to a higher scoring trend. An 11 o'clock call backs the update with a New York contact referenced in the item from October 1886.
San Antonio buyers paid varied prices for cotton delivered to local compresses on Tuesday. The report lists grades and prices including strict low middling and strict good ordinary among the quoted rates, reflecting market conditions at the time.
New Orleans May 16 cotton rose 2 to 4 points early on firmer Liverpool trade but fell as rains in the eastern belt were reported. Within an hour prices slipped to 4 to 6 points down and then extended to 11 to 18 points. By noon the trading months showed a net loss of 2 to 7 points despite some support.
Precipitation yesterday was none with no rainfall for the day. The daily deficit stood at 0.11 inches, total precipitation since January 1 is 5.78 inches, and the deficiency since January 1 is 4.09 inches.
May 16 at Union Stock Yards reports hogs weaker with declines of 5 to 15 cents per hundredweight while cattle and sheep stay firm at week highs. Receipts include cattle calves hogs sheep goats. steers sell 7.60. cows 6.00 to 6.50. calves 7 to 8. hogs 8.50 to 9.25. San Antonio market featureless today.
Fort Worth Texas reports cattle receipts 2500 with steady to ten cent gains. Prices list Reeves cows heifers bulls calves across ranges. Hogs receipts 2000 down sixteen cents with heavy through light classes. Sheep receipts 4000 active and steady with lambs and wethers cited and goats noted in market.
New Orleans futures markets opened with steady bids for May at 12.76 and July at 12.89 with other contracts 12.89 to 13.11. Throughout the session, futures closed 3 to 6 points lower as July and December measurements fluctuated around 12.80 to 13.01.
Chicago traders pushed wheat higher after early losses as Hessian flu doubts sharpened forecasts. July and September futures rose to around 1.16 to 1.17 a bushel with Oklahoma and Kansas crop prospects cited. corn and oats also gained while hogs led the provisions weaker.
May 16 report from Chicago shows hogs receipts 20 000 market dull with price ranges from 9 75 to 10 25 for various hog categories. Cattle receipts 40 000 with native beef cattle at 8 10 to 10 25 and western steers 8 10 to 9 10. calves 7 00. Sheep receipts 1000 with wethers and lambs quoted 8 75 to 12 60 and epfings 11 00 to 13 60.
Liverpool May 18 spot cotton firm with good middling at 8.70 and middling 8.54, low middling 8.30. Sales 8000 bales for speculation and export, 1000 bales. receipts 7000 bales.
Futures quiet in Liverpool with listed price gaps across multiple forward months. Shown are May through May and June futures along with several spread quotes including March-April and April-May.
In Savannah on May 16, turpentine firm shows sales 617 receipts 1668 shipments 26 stock 7389 while resin firm reports sales 914 receipts 25 shipments 2410 stock 55822. Notations list several prices and codes including FE F and various lettered values.
Receipts and quotations show hogs at 9.45 to 10.00 for various categories, cattle with prime fed steers from 9.40 to 9.85 and cows around 8.25 to 9.15, and sheep with lambs 9.50 to 12.25 and yearlings 8.50 to 11.25. Market activity described as lower for hogs and mixed but steady to active for cattle.
Carrot buyers paid prices for grain and hay in San Antonio Tuesday. Corn prices ranged from 8.6 to 7.5 cents per bushel for various white and mixed grades. Oats increased 3 cents per bushel. Hay prices covered maize, Kaffir corn, cane hay, prairie hay, Johnson grass, and alfalfa with per ton amounts from 11 to 20 dollars, plus cane hay at 15 dollars.
Wheat price declines driven by reports from Kansas and other large producers lead to a 30 cent per barrel cut in leading flour brands by San Antonio mills. The move equates to 15 cents per hundred pounds. Bulk cooking oil rises 2 cents per gallon. lard remains firm and trends higher amid overall downward provisions on the Chicago Board of Trade.
Buyers paid varied prices for poultry and dairy in San Antonio on Tuesday. Poultry values ranged with hens at 6.00 to 6.60 per dozen and turkeys at 15 cents per pound, while dairy items included Texas Creamery at 2.9 and 30 cents per pound and packing stock at 17 to 18 cents per pound.
Quotations list butter creamery 26 28 1 2 percent range. Eggs higher with 41 014 cases received Firsts 204 21 percent, ordinary firsts 19144 200 at mark. Potatoes lower with 50 cars received. Michigan Wisconsin Minnesota and Dakota prices 5 9 1 2 percent, Minnesota and Dakota Ohio 82 88 1 2 percent. Poultry alive lower with fowles 17 c.
In New York on May 16 trading showed renewed demand for war related stocks and motor issues. Crucible Steel Studebaker Westinghouse Industrial Alcohol American Line and National Lead gained while Willys-Overland hit a new high at 278. US Steel and others advanced with mixed closes after a brisk midday push and a dull afternoon session.
Time loans show easy conditions with 60 day at 2 percent 3 percent 90 days 3 percent 6 months 3 percent. Call money steady with high 2 percent low 1 percent ruling rate 1 percent last loan 1 percent closing bid 1 4 percent offered at 2 percent.
Butter Creamery 29c firsts 27c seconds 25c packing 23c eggs Firsts 21 5c poultry hens 11 5c turkeys 20c springs 25c
Chicago May 16 market quotations show Wheat No 2 red nominal and No 2 hard at 1.18 percent, Corn No 2 yellow steady, Oats standard at 47 percent, Barley at 63 with price notes.
London reports bar silver at 36 1 4 per ounce and money at 4 4 percent. Discount rates show short bills and three month at 4 percent.
The Cotton Region Bulletin reports unsettled weather across the belt with eastern areas near normal temperatures and western areas well below normal. Rainfall totals reach an inch or more in several districts including Wilmington Mobile and Memphis with additional readings in Grandcore Louisiana Birringne Alabama Lake Miss and the BubLt area.
Raw sugar quiet with Centrifugal at 6.52 and molasses 5.75. Refined firm with multiple grades listed from cut leaf 8.80 to con fections A 7.55 and No 1 7.50.
In St Louis on May 16 receipts totaled 12 000 hogs and 3 700 cattle with markets easing. Hogs ranged from 7 25 to 10 15 for various grades and bulk hogs at 9 90 to 10 6. Cattle saw steady pricing with native beef steers from 7 60 to 9 85 and cows 5 25 to 8 00, while lambs and sheep strengthened with wethers 7 00 to 8 60 and lambs 10 00 to 12 20.
Wheat prices listed for No 2 red No 2 hard and No 2 white along with nominal values for other grades. Oats quotes show No 2 and No 2 white at 48 cents and other values noted as nominal.
Kansas City price notice shows wheat No 2 hard at 1.09 to 1.17 dollars, No 2 red 1.08 to 1.15. Corn No 2 mixed 70 percent tick, No 2 white 46 to 1 ic, No 2 mixed 40 to 42 cents. Oats white 46 to 4ic, No 2 mixed 40 to 42 cents.
New York data show Sterling exchange at 60 day bills 4.72 percent and demand 4.75 percent. Guilders around 41 percent. Bar silver 75. Mexican dollars Behe. Government and railroad bonds steady.
Cattle sales figures show average weights and prices in multiple Texas listings. Gonzales, Hico, Weiss Springs, Maryneal, Cleburne entities record steers and cows with prices ranging from about 5.40 to 8.76 per 100 pounds, reflecting local market activity.
In Kansas City on May 16 grain futures closed with wheat for May at 1.07 and July at 1.08, while corn for May held 68 cents and July at 63 cents.
Lead quoted 7.45 to 7.55 with weak spelter in East St. Louis at 144 percent asked. Copper firm with electrolytic near term 29.09 to 30.00 for August and later. Tin steady with spot at 49.00 to 50.00. iron unchanged.
Local packing house quotations list dry salt extras at 14 percent becon extra 16c. Dry salt bellies 14 to 16 pound average 17c. Fancy bacon 26c. Fancy hams 21c. Bacon bellies 14 to 16 pound average 18c. Pure lard 14 and a half percent, compound 12.5 percent.
Lead and copper values quoted with amounts in pounds sterling. Lead at L.33 and L.95 lines note. Copper 146 pounds, futures 143 pounds. Electrolytic 158 pounds. Tin spot and futures both at 197 pounds with minor shillings.
Oklahoma City report shows nine hundred sixty cattle steady and four thousand eighty hogs lower while two thousand one hundred sheep rise. Price averages per seller include Kirkpatrick Pauls Valley 7.00 to 7.65, Thompson D Annadarko 4 and 8.20 to 8.65, Foster Elk City 7.65, Franks Gould 8.65 for forty steers.
Chicago and New York reports show cotton seed oil prices firming with futures for May June July August and September quoted in the 10.80 to 10.97 range and total sales reaching 21 200. The day features quotes across multiple crops and local price movements listed for regional markets.
Members are called to a quarterly meeting at the St Anthony Hotel to consider adopting a new constitution and by laws. The plan would end stockholding and require 20 annually for membership with one vote per 25 dues, up to five votes per member. Also on the agenda are plans to boost enlistments for the civilians training camp from June 12 to July 8.
May 16 report shows No 7 coffee futures steady with May 8.49 and December at 77.0. Prices reflect cautious trading as traders await guidance from market indicators and global supply signals.
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