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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Nov 19, 2002
Page
5
Grain market on CBOT sees wheat down as lack of U S export sales weighs on prices. December wheat falls 7% cents to 3 82 bsh while corn oats and soybeans edge higher with December corn at 2 43 a bushel December oats 2 03 and January soybeans 5 66.
Hogs trading moderately active with barrows and gilts at 25.00 to 25.50 for 230 to 260 pounds and 23.50 to 25.00 for 260 to 280 pounds. Sows steady across weights with 18.00 to 21.00 for 300 to 700 pounds. Boars: over 300 pounds 6.00, under 300 pounds 17.00. Cattle trading moderately versus last Monday. Slaughter steers 64.50 to 65.00 for 1,050 to 1,350 pounds, 63.50 to 64.50 for 1,050 to 1,250 pounds, 62.50 to 63.50 for 1,000 to 1,200 pounds. Slaughter heifers 64.50 to 65.00 for 1,000 to 1,300 pounds, 63.50 to 64.50 for 1,000 to 1,200 pounds. Cows not enough to establish market.
Organized labor expands efforts to unionize Wal Mart urging wage and condition improvements with civil rights religious and student groups. Rallies planned in 40 cities as UFCW NOW SCLC and United Students Against Sweatshops join the campaign.
Wall Street backed off as war concerns and a weak Wal-Mart outlook dampened a six week run of gains. Dow fell 92.52 to 8486.57 while Nasdaq dropped 1.2 percent to 1393.69 and S&P 500 slid to 900.36. Wal-Mart tumbled after warning November sales would be at the low end of estimates.
Dow Jones fell 92.52 points to 8486.57 on the session while the S&P 500 slipped 9.47 to 900.36 and the Nasdaq edged up, with NYSE and AMEX volumes showing active trading, including revised NYSE 4 p.m. totals and after-hours activity.
United Airlines shares rose about 18 percent after the carrier outlined further layoffs, wage cuts, and flight reductions aimed at avoiding bankruptcy. Pilots ratified a 2.2 billion wage savings deal, with 95 percent of the 8,800 pilots voting yes. The plan also includes 1.3 billion in salaried staff cuts and stock options for workers agreeing to pay reductions, as the company pursues a 5.8 billion package and seeks an 1.8 billion government loan guarantee.
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