Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-02-03

LIN Jill AA~o hARA nv IL 0aoSN RAOBOA
ton with the latter, Notwithstanding there
was considerable export activity at the
opening of the week, upon which the
strength was predicted and the advance OBJ
tanned; for this wis also almost wholly
speculative, so far as contract stuff wa con-
cerned, as it had been sold ''short" on the
other side by the shippers, and all that has
been done of account that is really legiti-
mate is in fancy cuts of bacon and meats
and in named brands Of lard, with a mod
crate export business in mess pork, which,
however, has been of a jobbing-uature.
So soon, therefore, as demand from these
sources was satisfied (fOr it was limited),
the market began TO settle back again, and
declined &c in lard, 25c in pork, and &c in
bacon, when Western buyers stepped in
and purchased enough TO check the decline
and steady the market. The advance in
pork was, however, very slight, except for
spot, futures only being higher nominally;
but lard ran up quite rapidly tsthe highest
point of the season, kettle selling en- the
spot at Toe, and April contract as high as
10 slice; while half and half bacon sold at
SsaSic. But at the close the market is
quiet all around, and barely steady. The
receipts o hogs at Chicago for thepast week
have continued to be heavy, aud their
weight is said to be full average, showing
that the balance Of the crop back consists
by no means of poor hogs.
In the face Of this, Chicago has issued an
estimate of this years crop, which is 222,-
600 hogs less than cut in the packing season
of last year,, notwithstanding there have
been, by their own returns, over 100000
hogs slaughtered "tO date which was Jan.
%; yet it can scarcely be claimed that re-
turns could have been forwarded them from
$50 points in time for publication at that
date, which would embrace much, if any,
of the packing after the LIST of Jan1ary, es-
cept in Chicago and near points, and these
could not have been down later than to
Jan. Is: and even in these returns there
are several points in which New York re-
ceivers are interested, and hence know the
actual packing, which are said by them to
have been put down in these Chicago re-
turns at 10 per cent. less than actual figures.
If the same discrepancy exists in all their
returns, it will rather change the as
pect they give to Affairs. Besides it is
considered a pretty heavy average re-
duction which they make in the
weight Of the hogs packed this year ON
pared with last-Of25 per cent-based more
upon the estimated falling of on those to
come in han on those actually packed
The heavy receipts of the past week and
the full average weight and good condition
of the hogs may compel a radical revision
of these estimates, upon which il will be
seen that the entire deficiency in numbers
claimed is based, as well as a great part Of
the deficiency in weight. In this state
fiient comparison is omitted, inadvertently,
| doubtless, OK the aciusl packing to this date
with that Of last year to same date Yet,
this is a very important point, asthe excess
this wear over last is said is said to be over
half a million of hogs. Add this fact to
the heavy receipts of the present month,
and especially of the present week, and an
other full month of the packing season, and
we submit that Chicago will be compelled
| to get u D a new set of figures. 1t is useless
to repeat the assurance so often made,
that the season will close on the 1st
proximO, with twenty-five thousand hogs a
| day coiiiirs into Chicago. 1t was as conf
| IDENTIFY asserted in December that the pack
ing would be over on the LIST OF January.
The result has shown how utterly ground
less was the prediction. The present one,
at the moment, seems more groundlesS
| still, with present receipts. 1t certainly
looks as though the ''bulls' would be
driven completely out Of their position,
based upon a short crop, and as a last resort
be compelled to rely upon q short crop next
year, which the position of affairs favors.
In fact, this is now beginning to be urged
in support of their failing position, and it
is not impossible that, with initiation and
easy money, they may conclude to carry
the stock Of lard and pork into another sea-
| son, if they shall find themselves unable to
unload without sustaining heavy lOss, and
in the end compel Europe to come up 10
prices here. But to look for it
now, or soon, is unwarranted, as
shippers will not take our stuff
at present prices until their supplies onthe
| other side become so reduced as actually to
| compel them to. The Englishmarkets will
no doubt continue to want at high prices
our fancy meats, some pork and choice
brands of lard; but the summer packing
will largely supply this demand, and leave
the bulk of our winter packing to seek a
! market on the continent. In the present
state of those markets this is not a hopeful
prospect, althoug they may beforced tOtake
our stock Of bacon before theseason is over,
a the production has been less, proportion
| ately. by the reason Of the increased pro-
duction of mess pork. This fact may sus-
tain the prices of bacon, but there is no
considerable present export outlet for our
pork and lard, and there seems TO be no al
ternativeleft our spectators but to carTythe
bulkof the stock into another season, unless
they are willing to meet the shippers upon
an export basis. This they seem at present
determined not to do; and, so long as they
are able to carry the load, the prospect is
that these two principal staples of the hog
product will be left upon Our markets, a
football for spectators, and that manipula-
tiOns and '~corners" will be resorted to to
pay the expenses of carrying their immense
burden. To show the position of our ex-
port trade, We present below the exports OF
lard and bacon from all our ports for Janu-
AIRY, February, March and April, of last
year. We omit pork, as the production
and exports were too limited up to this
date last year to afford a reliable basis of
comparison:
EXPORTS FROM ALL PORTS IN 1873.