The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-01-16
THE PORK MARKET.


AAAh "sssA
Advance Ia Priees-IA the Advance Per-
'i-t manent7 y y
Our Wheeling packers feel better Just
at present. Pork Is at last on the up turn,
and they have accordingly advanced their
buying figures for live stock to three cents
At Chicago, notwithstanding the heavy
receipts, there has been steady advance
for several days, and yesterday cash mess
pork reached SS:as against 81 % few days
ago. At Cincinnati there is tho same
buoyant feeling. The Enquirer Of yester'
day discouBcs oil the subject as follows:
"For four long, weary years they have
battlCd against Fate and Fat, and have In
every round got the worst OF II. Now,
seeing them battered and bruised and
bunged and bleeding, Fate seems 10 have
taken pity upon them and come over to
their side, and they arc again fairly on
their feet, and getting in work which tells
that they are bound 10 win. In other
words, now that most OF the hogs in the
country have been bought and packed at
very low prces-lower, in fact, than have
been known for nearly twenty years--the
packed product has begun to advance, and
has within week or so grown from ten
10 fifteen per cent more valuable than
when boughtand packed. Nor Is thisall
The prices arc still advancing, and II Is
believed by the sagacious who are
watching the indicator with much
care, that they will continue to advance.
Bulk meats, which sold only short time.
since at 3IG., have jumped up nearly or
quite half . cent per pound. Lard has ad.
VanCed from $3.50. to Bloc, and Is still
going skyward. Mess pork has scared
from 81 90 to $40, and gives no signs Of
resting there. Bulk sides, which have
sold ~ low as &C., "seller May" have gone
up to 4Ic., and may reach a higher figure
to-day. Yesterday nearly million pounds
OF hog product, mostly Futures, " changed
hands during the business hour on
Change, and thousands Of dollars we're
made in the hours transactions, COmpar.
ing the prices received with those ola
week ago. And still the market advances.
The history Of the hog, market for the
past few years is too well known To require
any extended reference thereto. Hogs
had ever since the war sold high, and so
high prices were paid Tho product went
down, and there was q loss: This was the
history Of the first year, then Of the seq
ond, the third, and so on. This year The
hog manIpulators, what there was left oil
them, decided that they would change the
programme, and begin at the bottom Of
prices, letting the change come in their
favor, II change there should be. They
began by paying very low prices, and as
the hogs came In in immense numbers,
paid lower and lower still, until perambu.
lating pork wasa u less price than had been
known for nearly or quite 20 years. Tho
demand looked for on prospect Of an
European war did not come, and tho
rates ruled low, so low that ut last, after
four years OF sinking, they, It appears,
touched bottom and now the rebound
has, 1t is believed began, and with II bet
ter times for pork packers. Pork bought
ut the extremity low rates is in demand, and
Mt good figures, and the live hog market,
feeling the agitation in dead hog circles,
has also advanced on run, until yester.
day the price Of live hogs was even higher
in proportion than that OF the product
itself. Those who have the article for
sale are holding on to it closely In the,
belief that still better prices win come,
the orders are coming in freely from
abroad showing the belief that the advance
is permanent, and not yet at an end, and
the packers aud dealers are happy. a
An Enquirer reporter in search OF philo-'
sophical information on the subject called
upon one OF the moat active manipulstors
OF the article in question yesterday to ask
what 1t all meant,
Said the reporter to the Active Manipula-
tor: h
Il see that the prices of pork arc ad.
vancing."
Said the Active Manipulation
"Yes."
Reporter-Why? ...a -.
Active Manipulation it has
touched bottom.
Reporter-TouChed bottomP
a. M:-fes. You see that pork has been
going down, down, down for years, and
We have been losing money on it, and now
it has got to the lowest point, and is be.
ginning to come up again, and we shall get
some OF our money buck that We lost.
keporter--GoOd.
A. M.-Yes, for tell YOU we need II
The losses Of the past four years have
been very heavy, and every man in the
trade isglad to see it turn.
Rcportcr-YOn think, then, the advance
is permanent one?
A. M.-Yes. You see, We have been
looking for something Of this kind but Il
has come a little sooner than we expected. \
But am satisfied that the change is per.l
manent and that the tendency will now be
upward; There may DO some little dulll
spots, OF course, in which prices will drop
off for a few days, but only that.
Reporter f
A. M.-Yes. You see the product has
got so low, so very low, that people find it
better Investment than Government
bonds, and, beside tho amount needed
for early consumption, a good deal is being
bought on spec, Then, too, prices have
been 10 low that people arc not making
much preparation for the future, and the
result will bo that the summer packing
next season will be light.
Reporter-Does the demand keep IN at
the advanced rate?
A. Nit does, and more.
Reporter-and the pork men arc happy
a. M.-They are, Gully, happy as larEs.
Representation, then, my Active ma.
nipulator, adieu. -5-.0.'~S
a. M.-Ta-ta. ut-ta.ta.
And here the interview ended.