Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-03-15
RAD

There mas been but lew changes IN
the general markets since our last
weekly report, Notwithstanding the
antics going on in gold and the cOnse-
quent variation in the Eastern mar
kets. Our merchants are takingthings
easily, and are probably as well able.
to meet the fall in geld now as they
would be At any future time. As an
evidence OF this, many of them are
Offering their stocks on a basis Of 105
for gold, and are prepared to make a
still further reduction should the 0c-
casiOn require it. Receipts of pro-
duce and provisions from above are
coming in steadily. The corn re-
ceived since Saturday evening viii
foot up nearly 1000 sacks, but aIarge
proportion Of it is fer reshipment to
the interior. Cotton is coming in in
reduced quantities, and river men re-
port very little on the banks either Of
the st. Francis, White, OF the Arkan-
sas. The receipts will show a large
falling off during the coming week, !
and proves, as we have several times
stated ia the APPEAL, that there is
less held back in the interior than
cotton men generally have antici-
pdted. Meats are some firmer than /
at the opening Of the week, and prices
are q fraction better. Mess Pork has |
advanced about soc per barrel, and is
firm. A late Cincinnati Price Cur
rent says Of the probabilities of the
provision market:
The season commenced in October
and extended till in February, as IS
shown. The hogs packed in the fore
part Of the seaS0n were but medium
in quality, but the prices paid were so
high that farmers used ali the energy
and appliances at their command TO
feed hogs, the inducements being
strong, owing to the abundance of
cheap food, and the result was that
the second crop thus produced, and
which was marketed in January and
the fore part Of February, was, as re-
CARDS the average weight and the
quality of meat, never eXcelled, and
it is doubtful that was ever equaied;
and this increased the average weight
o the hogs, as well as the yield oflard.
This was the consequence Of the I'M
usual high prices paid; and not only
did they lead to an increase Of the
crop, but diminished the demand.
The average price paid in 1S69-70
was 81 50; that in 1869, so %; that
in 1867-S, SIS 25f. The average weight
this season, 2265 pounds, producing an
average Of 275 pounds Of leaf lard per
hog, and IL pounds head and gutlard.
We take these facts as an average
statement Of the packing Of the several
main packing points, comprising
about three-tifths Of the product of the
country. The average weight of hogs
has been large, increased as the
second crop" was by the extra feed
ing, with cheap food for a high-priced
meat, while the product of lard was
the greatest for three years past.
While other points may and do vary
from these averages, il is fair to take
the whole statement as representing
the provision interest Of the country.
If we may consider statistics of
value with a DlOdjcum of truth, we
will state the following: On the 9Th
day Of March the stock of pork was,
at the cities of New York, New Or
leans, Chicago, Cincinnati, Louisville,
Milwaukee and st. Louis, 9 5000 bar
rels less than at the sametime in 1863.
On the 10Th Of February the general
stock Of provisions in Chicago was
fully thirty-five per cent. less than
LAAaA VI AAoA NE0Aa II ID GA1AAA4AlA lLllL !
the stock is reduced O~ne-third, or one
half here. The immense drafts upon
Cincinnati and Louisville in the alb
sence Of freighting faculties from this
point and Chicago, have, it is to be
presumed, equaled those upon this
point. The stock in New Orleans is
smaller.
1t is estimated that with the increase
in weight this over last year, the pro-
is 100000 hogs. The five
packing cities killed I,6j0,000,
or something over four-sevenths of
the whole, leaving th-ree-sevenths for
country packing. We viii say that
one-third or One-half of this has been
sold for consumption or sent to the (
AT any rate we may say that
FIVE and a half sevenths of the whole
crop are offered for sale or are sold,
leaving, say one and a half sevenths
yet TO come in.
With these facts before us 1--WE have
endeaYOred to 20 behind the truth {.
than before IT'D, we can reasOna-
bly, calculate that I,2O0,00 hogs have
gone into consumption or out of the
country. We have yet, then, 1 ,600,0 900
hogs for eight months Of consumption,
the heaviest demand known for
many years. The South is using
over her quota, as is evidenced
Dy the statistics of the trade in New
Orleans and elsewhere, the receiptsin
New Orleans in February being7 ,25l,-
200 pounds of bacon and bulk meat,
against 4,497, 800 pounds in February, 4,
1869, and in the same month 1851, 500 ]
pounds consumed against 3,463, 600
pounds last month, and this att point
packed beef (Of which it had
been said the South was using largely
has been as easily obtained IS at Gal {