Cotton Prices Soar to New Heights Again
Cotton prices rise sharply as market demand strengthens and supply concerns ease. Analysts note renewed optimism in the textile sector with buyers in major ports signaling continued intake through the quarter.
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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Nov 25, 1916
Page
7
Cotton prices rise sharply as market demand strengthens and supply concerns ease. Analysts note renewed optimism in the textile sector with buyers in major ports signaling continued intake through the quarter.
The cotton market shows rapid price gains as buyers regain confidence after a strong weekly spinners report. New York and New Orleans opened higher with steady closes amid an overall rebound in spot markets. San Antonio spot prices rose to 20 cents. Local dealers forecast further upside amid crop shortages and heightened demand.
The cotton market opened with gains of 10 to 28 points as shorts and spot houses bought near months. January and May futures rose with December around 20.65 to 21.06 in early dealings, late sessions showed steady strength with most months higher and limited selling.
Bullish sentiment dominates trading in New Orleans cotton with prices rising 16 to 43 points from open, aided by a bullish crop outlook and interior demand. Spot cotton held firm, while cotton seed oil futures and rough rice also move, with reports of steady to higher tones in related markets.
Washington reports climate conditions in the United States have driven crop shortages and soaring prices. Dealers cite a cold wet spring and hot dry summer as damaging harvests, affecting cotton and dry goods markets and prompting early spring contracts.
Wholesale prices to trade cover potatoes onions celery peppers beets carrots beans and squash with per hundredweight per bushel per dozen offerings from Colorado California Texas and Illinois. Fruits canned goods dairy and meats follow with varied per unit costs and crate or box packaging notes for trade buyers.
The Chicago News notes a defendant named Rastus admitting entry into a henhouse and removing two hens, with the judge confirming the act and the implied tally of stolen poultry. The narrative reflects a courtroom exchange on the theft and count of birds left behind.
Active dealing in New York shares drives broad gains led by United States Steel and Copper. Morale improves across many industrials and equipment sectors as total volume nears 700000 shares. rails stay quiet while copper markets show strong demand and steady bond firmness.
Major James 8 Parker of the cavalry is to join the Eighth Cavalry after ten days leave. Also listed are Maj Edwin E Leonard of Illinois and Lieutenants Douglas Handy Side Ohio Clemer P Miles Michigan Edgar M Kinney Pennsylvania Captain George W Eckert Ohio with additional designation clarifications.
The National Transport Workers' Federation has formally objected to government labor proposals affecting workers. The federation, among Britain's largest unions, adopted a long resolution denouncing plans regarding colored labor amid ongoing debates on the issue.
A chance encounter at Medical Lake sparked a five week romance between Juanita Moore of Davenport and Shannon W. Smith of St. Elmo. Ill. They wed at the Moore home and planned a Florida honeymoon after a rapid Spokane front, with both families present. The bride, daughter of Dr. D. W. H. Moore, hosted the event as Smith, a traveling salesman, joined Camp Comfort guests.
Napped cotton goods were active for fall today as cotton goods firm and yarns higher. Men's wear items sold quietly before formal openings. Raw silk quiet and jobbers continued a very dull trade for this period of the year.
In Savannah on November 26 turpentine firms Kesin and Kesin reported sales of 687 and 1483 units respectively with receipts 72 and 2483 and shipments 240 and 1045. Stocks stood at 21347 and related prices noted around 6.35 to 6.40 dollars per unit.
Salina Kansas report from George Reed’s apiary notes a record 250 pounds of honey in one hive and an anticipated 4000 pounds for the year. Reed attributes the dry spell and continuous alfalfa bloom to the exceptional harvest, calling this the best honey year ever due to drought.
Wheat prices fell amid embargo fears with Chicago quotes slipping from the prior finish. December at 1.76 3/4 and May at 1.83 3/4 to 1.84, while Liverpool supported wheat and Argentina rains pressured corn. Kansas City closes show December wheat at 1.77 1/2 and May at 1.80.
Quotations in St Louis on November 25 show wheat steady with No 2 red at 1 851.87 and No 2 hard at 1 94% 41.91. Corn prices slipped with No 2% at 98c and No 2 white at 97c. Rye remains steady with No 2 nominal.
Quotations listed for No 2 red and No 2 hard red wheat, corn No 2 yellow, oats standard and barley in Chicago. Prices shown as fractions and percentages, reflecting opening market figures for November 25.
Local packing house quotations listed for Saturday. Salt extras 17c bacon 1k%c dry salt bellier 14-16 pound average 19c fancy breakfast bacon 28c fancy hams 22c bacon bellies 14-16 pound average 26c Pure lard 18% compound 15%e.
Kansas City November 25 prices show Butter at 41 cents for standard creamery and 38 cents for firsts with 40 cents fees. Potatoes hold at 1 dollar and 65 cents per peck as market remains steady.
Coffee prices quoted in New York show No 7 futures easing with December at 7.98 a pound and March at a similar level as traders gauge demand and supply impulses amid holiday demand.
In a small town a student mocks a measles scare and claims a fake parade of "moan ies" on the avenue. The teacher and class react with urgency as the mischief unfolds, revealing a playful yet disruptive misunderstanding in the school.
The Tamale Queen, once at Alamo plaza, has bought the Postoffice Bakery at 723 East Houston St and will keep making chicken tamales and Mexican dishes with a home-made bakery display. Also noted are a grand mask ball at Hermann Sons hall, a Villa enlistment report, a no-arrest accident involving a 12-year-old boy, and other local ads and notices.
Buyers paid varied rates for country produce. eggs steady at 30 to 34 cents per dozen. butter steady at 24 to 25 cents per pound. poultry firm with hens 5.50 to 7.00 per dozen, turkeys 23 to 24 pounds, ducks 50 to 60 cents per dozen, geese 9.00 to 10.50 per dozen.
At Union Stock Yards on November 25 dealers reported very little activity with market virtually unchanged from the previous day. Fat cattle were scarce while stockers were light, signaling a cautious outlook for next week as receipts showed cattle 558 calves 2 hogs 15 horses 36.
In St Louis on Nov 25 receipts and quotations show hogs strong with light, mixed and butcher weights from 8.75 to 9.90, heavy at 9.00 to 10.10. Cattle receipts steady with native beef cattle from 5.50 to 11.60, stockers 5.30 to 7.60, prime southern beef steers near 9.00, cows and calves 4.25 to 12.00. Sheep receipts 600 and market steady with lambs 7.50 to 11.90, yearlings 8.00 to 10.00.
Kansas City market report shows hog receipts near 2000 with overall higher prices. Bulk hogs selling around 9.50 to 10.00, heavy hogs 9.86 to 10.10, sows and butchers near 9.05 to 9.80. Cattle receipts rise with steady to firm tone. prime steers 10.50 to 11.75, dressed beef steers 10.50 to 19.70, southern cows 5.75 to 5.80.
Receipts total 1600 head with sheep and lambs leading activity. Cattle categories show varying ranges from calves to steers with prices from 4.75 to 11.00 per unit and feed classes trading between 5.25 and 10.78 per head. Market conditions indicate active trading across heifers steers calves and stockers with mixed bids.
Chicago market reports show hog receipts about 20 000 with prices 5 to 10 cents higher than yesterday. Hog classes Purk light mixed and heavy range from about 8 65 to 10 20 while cattle receipts are weak with native beef cattle 6 50 to 12 05 and calves about 9 00 to 12 70. Sheep see wethers 5 00 to 8 99 and lambs 9 50 to 12 00.
In New York sugar futures markets observed continued selling pressure with closing prices 5 to 8 points lower. Trading totaled about 16,400 tons with December at 4.70, March 3.92, May 4.01, and July 4.08. Raw sugar eased with 10,000 bags traded and Peruvian molasses at 6.01, centrifugal at 6.88, refined dull at 7.50.
Chicago November 25 quotations show butter steady. Egg receipts 2485 cars with unchanged quotes. Potatoes receipts 386 cars, unchanged. Poultry alive higher with fowls 14 1/2 cents, springs 16 cents, turkeys 23 cents.
Observations taken at 7 a m on Saturday November 25 1916 by the Weather Bureau note wind velocities under 18 miles per hour and precipitation less than .01 inch are not published. Allen Buel t meteorologist.
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