The New Orleans crescent., 1869-03-26

Excess IN ,isisis supply zs6so
Stock Of cotton held by Manchester spinners al
the mills now 10000 bales, same time 1865
lS5 0UO bales.
II holders in this country are strengthened in
their position by the great falling Oh In receipts
and reduced estimates of the crop. In Msnches-
ter the fear of lower prices in the early summer,
deters buyers OF goods for distant markets from
be dssipated when the probable supply for Eng
land. from this crop is better understood. Our
spinners have been buying less than their con.
sumption for six weeks past. They keep out Of
the market, because they see prices here Id. to
i'd. higher than those Of Liverpool. Should prices
in the two markets approach parity, either by Q
decline here or o rise abroad, an active spinning
demand would Immediately show ITSELF Ii Is well
understood here that the supply from this crop
will not be enough for Europe and America, and
our spinners are determined that they will have
their full share. Transit cotton has generally been
held of The market and several thousand bales
have been forwarded TO Liverpool on owners ac-
count. The statistical position shows Sc 425 bales
excess this week. AS we shall compare with
much larger figures soon, we expect that the ex-
cess will soon disappear within two weeks There
have been received at the ports since lst Sept.
l.652592 bales, OF which exporters have taken
$50 ,494 spnners, Ala ,5S6 and the stocks have
increased 354 $40 bales. Deficit In receipts, as
compared with last year, 46 ,7S0 bales. Deficit in
shipments 10 Liverpool, now 18S,S63 bales
In our circular Of 22d January. we expressed the
opinion that there would be defcu in Liverpool
exports OF 200, GOO bales. by the last of March.
That deficit now stands at lss s33 bales. The ship
menis from 9Th March to 18th March, 1863, to
Liverpool amounted to 394 40i bales. and it now
looks as If the dgcf would stand at 1000 bales
on 18th May. Last season. on 2sth August our
tables showed exports TO Great Britain of 23l 070
bales. This year, we cannot see how more than
$50 600 bales can be spared.
Estimate Of Crop.-ln making up our estimate
We have taken the following basis: $4,000 bales
for New Orleans 10000 bales for Texas ports
deficiency OF one third In the States of Alabama,
Georgia and Florida, as compared with last year
deficiency Of one fifth in South Carolina, North
Carolina and Virginia. the same as last year, and
250,0C0 bales for overland cotton. This calculation
would give about 100000 bales more to be re.
ceived at the ports mp TO lst September, and
crop OF 1900, 600 bales.
The SALES FOR FUTURE DELIvERY.-For March,
$50 bales st 2s c., 200 at 2s5c.. 200 at 2S3c For
April 800 bales at 2S4c. 300 at 2slc 600 at 2Stc.
For May, 200 bales at 2s4c. Yesterday 450 bales
low middlings, for March, sold at 2S4c., 100 for
100 for June at 2S3c, and 500 basis low middling.
From the Brokers' Circular. of February 18th,
we take the following figures:
American. East india Stock
sSSss....::.....:'... 49,. issSS i iis%o ssssso
The cotton at sea is 5000 bales more than last
year, and the stock Is l0,750 bales more. The
consumption of American cotton has averaged
23724 bales for the past six weeks. OF the sales
this week, 81 per cent. were American and 26 per
cent. Surats. Stock Of American 35 per cent,
and Of Surats "a per cent. of the whole.
PORK PACKING IN THE wEsr.-We take the
following report from the Cincinnati Price Current
of the 18th instant:
There was same diversity of opinion regarding
The extent OF the pork crop to be cured in the
West in lS6869, for some months before the pack
ing season began, but the general impression was
haf fhnra ho <n.s q
lS67s; and for this reason, probably, there was
no desire manifested by dealers to anticipate the
market by making contracts for the future, aud
there were few made. 1t should also be stated
that there was as little disposition to sell as
there was to buy. Farmers had been obtaining
extreme high rates for their hogs. during
the summer of 1868, and they found it
impossible to believe that prices could decline so
laI gely as packers supposed they would, so that
here was wide difference In the estimates of
both parties, and this had considerable iniu-
ence IN preventing contracts being made during
the fall months. The reports made regarding
the corn crop, during August and September,
created general belief that it would be an
unusually large one, and that this would lead
to large pork crop. 30 that, notwithstanding
the fact that the supply OF old meat would be
more nearly exhausted before new could be cured
than II had been for many years, the future was
viewed with dstrust, as regarded high prices,
and therefore pork dealers preferred waiting the
development of events rather than anticipating
them under the circumstances! The result has
shown that, instead of being an unusually large
one, the corn crop has proved partial failure in
the great corn gro wing States of the country. The
early frosts OF September arrested its growth,
which at the best late. and there being no old
corn upon which to feed hogs the pork crop had
to be made from new corn, and this being soft and
chsfy, and late, the time was too short to make
pork with corn thus imperfect. and the result is
that the pork crop has proved short and prices
ruled much higher than had been expected.
il Is true that the deficit is not large, and Is less
than had been expected at one time; but when
the absence of old stock il taken into considera-
ron, together with the increased demand for con-
sumption, or rather the increased wants of con-
sumers the supply of pork is unusually light, and
nothing but the high prices, IL would seem, can
prevent an absolute scarcity. II will be seen by
comparing the figures that the pork crop of the
United States dses not exceed what ii was fifteen
years ago, and yet the natural increase In the
wants must have been in that time fully forty per
cent II will be seen that the total number
packed is All ,264, against 0s4 last season.
but there being increase In the weight this sea-
son the deficiency is reduced to 2li ,90l hogs.
We give the aggregate as follows, viz:
HECAPITULATION.