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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 03, 1987
Page
4
Kidron consignors brought heavy offerings with higher market hog prices and excellent feeder pig demand. Dairy cattle sold strongly with 161 head consigned and fresh heifers around 1200 dollars, while hay and straw markets showed strength with 161 loads and straw prices rising to about 90 to 100 per ton.
The Civilian unemployment rate fell to 6.6 percent in March the lowest in seven years as the labor force declined. 127000 fewer people were listed as employed or seeking work and unemployment fell 113000 to 7854000, the first time below 7.9 million since April 1980.
The dollar retreated after banks raised their prime lending rate to 7.75 percent. Nigel Lawson's statements pushed the pound higher while U S Trade Representative Yeutter urged resisting changes to import restraints, warning they are a powerful tool in trade policy.
A Cuyahoga County Common Pleas Court hearing is scheduled for April 13 on a shareholders class action aimed at blocking BP's 70 per share offer to gain full control of Standard Oil for 7.4 billion dollars. The suit contends the bid is grossly inadequate and constitutes fraud against about 56,000 minority shareholders owning roughly 239 million Standard Oil shares.
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