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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Dec 21, 2002
Page
5
Stocks climb as Greenspan notes the U.S. economy is working through a soft patch with no deflation threat. Commerce data show a 4 percent third quarter growth while gains buoy sentiment amid broker settlements and political shakeups.
Fed chief Alan Greenspan noted the aggressive rate cuts since January 2001 helped cushion shocks from falling stocks but warned it is too early to confirm a sustainable recovery. He cited summer resistance from accounting scandals and Iraq war fears as ongoing headwinds. The FOMC trimmed rates 12 times, the latest a 0.5 point cut last month.
Eastern Cornbelt hog prices move mostly steady as buyers show light demand for moderate offerings. Carcass values by thickness range from 40.28 to 48.92 per hundredweight, with sales in Illinois Direct Hogs totaling 18,265 head. Prices by weight: 300-400 lbs 16.00-18.00, 400-500 lbs 18.00-20.00, 500-600 lbs 21.00-24.00, over 600 lbs up to 26.00. Boars under 300 lbs 12.00-18.00, over 300 lbs 4.00-7.00.
Wheat futures slid to near five month lows on the Chicago Board of Trade as technical weakness and no fresh export sales weighed on prices. March wheat dropped seven cents to $3.42 a bushel, March corn down two cents to $2.39, March oats down twenty cents to $2.05, while January soybeans rose seven and one half cents to $5.72 a bushel.
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