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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Oct 23, 2002
Page
5
Eastern Cornbelt carcass prices closed 0.75 to 1.00 lower at Stockyards Springfield with 0.5 to 0.9 inch backfat ranges listed. Today’s Illinois direct hog purchases totaled 18,807 with mostly steady laws and moderate demand for moderate to heavy offerings. Boars ranged 14.00 to 20.00 for under 300 Ibs and 4.00 to 7.00 for over 300 Ibs.
Grain and soybean futures eased in Chicago trading as harvest progress and weak export news weighed on prices. Wheat declined further, corn and oats fell, while soybeans dropped modestly amid broad selling. beef and pork futures rose on the Mercantile Exchange.
Investors sold shares Tuesday to lock in gains after two weeks of gains that boosted the Dow more than 1,200 points in eight sessions. Disappointing results from Kimberly-Clark Wyeth and Texas Instruments helped drag indices lower as analysts warned a possible pause in the rally. The Dow fell 88.08 points to 8450.16 the Nasdaq dropped 16.87 to 1292.80 and the S&P 500 slipped 9.56 to 890.16. Some see cautious optimism amid stronger than expected earnings others fear a bear market rally.
AT&T Corp reports a third quarter net earnings of 207 million, beating Wall Street forecasts with 5 cents per share on 12 billion dollars in revenue. Revenue declined eight percent due to weak long distance, while ongoing operations show a 6 cent per share gain excluding one-time items.
Federal regulators accuse Toronto based First Capital Consumers Group telemarketers of a bogus credit card scheme that netted over 6 million dollars from tens of thousands of Americans. The FTC filed in Chicago with a temporary restraining order and asset freeze. Four Toronto officers were arrested on deceptive telemarketing and defrauding charges. Some victims did receive promotions for other products like cell phones loans and vacations.
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