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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 04, 1985
Page
4
Market notes from Columbus list egg prices by size and cartons. Extra large and large sizes quoted with varying cents per dozen, while medium and small sizes show lower figures. Retailers and producers reported differing carton offerings and loading speeds amid the sales summary.
Kidron consignors reported robust Thursday bidding with hogs selling around 50 dollars per hundredweight and calves attaining 69 to 73 dollars. Beef cows brought 39.50 to 53.30, dairy cattle top near 31.00, and heifers around 950. Special consignments include a registered Halstein service bull and a herd of 30 lactating cows. Total head 2,293 with 133 loads of hay and straw.
AP reports yesterday spot prices for nonferrous metals in US destinations. Copper 64.55 to 64.57 cents per pound led, with lead 20 to 23 cents, zinc around 45 cents, tin at 3.8643 dollars, aluminium about 46 cents, gold 302.30 per troy ounce, silver 60.85, mercury 315 to 8323 per 76 lb flask, and platinum 281.50 to 284 per ounce.
Lorain County Farm Bureau Cooperative Association Inc lists closing market bids for yesterday. Wheat 318 per bushel Shelled Corn 5268 per bushel Soybeans 354 per bushel with Qals noted at 215 per bushel.
November construction activity rose 33 percent in Lorain County and 7 percent in the Test of greater Cleveland per the F W Dodge Division. Non-residential work fell 67 percent locally while residential more than doubled. Through November 1984 non-residential rose 88 percent, residential up 33 percent. In the four-county area total for November was $76.9 million, up 7 percent, with $34.7 million in residential and $41.7 million in non-residential. Through ten months the four-county total was $732.2 million, down 18 percent. residential up 1 percent, non-residential down 28 percent.
LTV Steel plans to idle the continuous and electric weld pipe mills at Aliquippa Works, affecting about 500 workers. Union President Lynn Williams criticizes concessions sought outside the basic steel agreement, calling the stance callous and shortsighted amid a merger that created LTV Steel. Production will shift, with welding lines at Youngstown and Counce continuing, and broader Aliquippa operations unchanged.
Detroit based American Motors Corp faces ongoing losses despite Renault investment and Jeep sales. CEO Jose Dedeurwaerder predicts 1984 will be AMC’s first profitable year since 1979, with full earnings due in February. The firm plans import boosts from Renault and a Brampton made midsize car, production to start mid 1987. Jeep plant adds 300 workers as Jeep output aims at 824 daily units including 550 Cherokee Wagoneers.
DETROIT AP reports a 3 percent drop in U S auto sales for the Dec 11-20 period, with GM down 3.7 percent while Ford up 11 percent and Chrysler up 2.8 percent. Analysts say mid-December volatility is usual around Christmas and expect a normal market after GM strikes.
Federated Department Stores Inc reports a 10.3 percent rise in sales for the five weeks ending Dec 29, boosting December totals near projections. Howard Goldfeder, chairman and CEO, notes a late Christmas surge helped reach $1.7 billion versus $1.56 billion the prior year.
Inflation falls below 5 percent, dragging pay raises down to around 6 to 7 percent on average. Surveys from American Compensation Association, Hewitt and Associates, and Hay Associates show 1984 to 1985 raises near 6.2 to 6.6 percent, with regional variation and continued real gains. Hiring freezes drop and layoffs fall from recession levels as firms loosen hiring.
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