Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-02
spring was again active and closed unset
tied at $l:O7 a $1.O8.

increased supplies and lower prices.
Corn was active aud feeling unsettled.
Trading was again chiefly ON speculative
account. shippers buying only moderately.
Early in the day the market was weak and
prices ruled H@1c lower, but under short
speculative demand, prices were advanced
13s@ 156 cts. for leading futures, and final
~ closed about Il cent lower for October,
g cent higher for November and e cent
higher for year than closing figures on
change yesterday. No. was in good re-
quest, and sold at 573s@a64c for regular
and 5SB@5s5sceats for gilt edge
receipts. and closed at SIX
g5s cents. High mixed closed at 6O.:cents.
Oats opened weaker, but ruled frmer
later at about yesterdays prices, some de-
iveries being shade lower. The activity
has departed from the grain market for the
present. There is now no reason why
wheat or corn should excite particular at
tention for some time. There is no sign of
more than ordinary manipulation in the
near future, and corners will not be heard
of in their markets again for peri
cd. The Kicker corn .bugaboo, too,
is disposed of. Delivering was made on
the contracts held by the estate to-day
and Immediately sold again, the alleged
reason being the illness of the administra-
tor, Calvin Wheeler. Although prices
were somewhat effected, the placing of
this corn on the market caused no break.
as it would have done ten weeks ago, or
l.
at least, wheat and corn will sell on the ir
merits.
From this on the provision market
will absorb attention. Hog products are
badly cornered and are being doomed right
up. The rise to-day in pork was wonder
full, the October pork, which is right in the
hands of the bulls, Ivan cling eighty cents
over yesterdays close, and closing 75c
over. The shorts were free buyers. Cash
was quoted at the close at $22.35@ 22.4o.
September sold early at $21.8713, but was
quoted later the same as October. October
opened at $3.50, closed at $22.3211s bid;
November closed at $20.9O; tho year
1925; January $3.50; Feb
ruary $3.50; March $18.75@19.OO
and May at $1S.9O@1s.95. March closed
at $3.50.
Lard was active and frmer, averaging
slightly higher all around.
The prospects are that pork and lard
will sell up steadily perhaps for two weeks
and if the receipts continue light even
longer. There must come break,
for cheap corn means cheap
hogs. The longs have the power, however
to stave off tho break for some tine, The
market for both Is largely ovsrsold for the
next two months, and the shorts will have
to dance. During tho past week operators
were plenty throughout, and of future pork
the week sales in tho Board of Trade
reached the large aggregate of $4,000
barrels; and of future lard $4,000
tiercss. Last Saturday, Wednesday,
ner'' days of the week in the way
Of business. Last Friday the Gales of
future pork and lard amounted in round
figures to 166, 900 barrels of the former and
$4,000 tierces of the latter; on Monday
to $4,000 barrels of pork and $4,000
tierces of lard; on Tuesday to $1,000 bar
rels Of pork and 81 900 tierces of lard; ON
Wednesday to Il, 900 barrels of pork and
$4,000 tierces of lard; on Thursday to 2O,7OC
barrels of pork and "a 900 tierces of lard:
and on Friday to 10000 barrels of pork.
and II, 900 tierces of lard. On tho first
three days of the present week the tenden-
cy was rather bearish, but this was sup
al cd Tbrr do, hvo
and higher range of prices, which has
been we'll sustained, and has not yet seen its
limit. Opinion is divided as to the extent
of the probable supply of hogs for tho win
ter market. It is we'll known that for many
months the products have been marketed
very close, much more than usual, simply
because prices have ruled higher. Corn
and other feed has been somewhat scarce,
and producers sold their hogs and saved
their corn to sell as corn instead of hogs
The large falling off in the average gross
weight of hogs marketed during the sum-
mer carries out this assertion, and shows
that larger per cent. than usual of young
hogs have been marketed. The policy of
marketing the hogs when young cut down
the production. In nine or ten months ON
the farm SOW would produce on an aver
age half dozen pigs. The same SOW hung
up in packing house could mot produce
pigs. Reasoning from this standpoint it
is very evident that the productive capac-
ity has been very largely curtailed.
Hence there is good reason for the conclu-
sion that the crop of hogs prepring for
the winters market is much
smaller than usual. Hogs are coming in
daily, and have been for some time past,
that ordinarily would be held back for
two or three months and freely fed. but
the high prices prevailing are to great an
incentive, and no doubt have already drawn
against our ordinary winters supply.
There is good corn crop this year, though
possibly not as large as some claim, but
new corn does not make nearly as good
hogs as old corn, and as old corn is scarce
it is quite reasonable to believe that hog
producers will continue to market their
stock as rapidly as possible. It must not
be forgotten. on the other hand, that high
prices foster production, and that the new
| territory annually boiny onenad nm nv the