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

spring was again active and closed unset
tied at $l:O7 q $1.OS,
Flour was dull, buyers holding off for
increased supplies and lower prices.
Corn was active and feeling unsettled.
Trading was again chiefly ON speculative
account shippers buying only moderately.
Early in the day the market was weak and
prices ruled 1a@1c lower, but under a short
speculative demand, prices were advanced
lss@12s cts. for leading futures, and final
ly closed about cent lower for October,
Is cent higher for November and a cent
higher for year than closing figures on
change yesterday. No. 2 was in good re-
quest, and sold at 572s65s1Sc for regular
and 5Sh@5s5scents for gilt edge
receipts, and closed at SIX
@5S cents. High mixed closed at 6Ocents
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
we're somewhat effected, the placing of
this corn on the market caused no break,
as it would have done ten weeks ago, or
even last week. Henceforth, for time,
at least, wheat and corn will sell on thei
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, alvan cling eighty cents
over yesterdays close, and closing 75c
over. The shorts were free buyers. Cash
was quoted at the close at $22.35622.4o.
September sold early at $21.8711, but was
quoted later the same as October. October
opened at $21.5O, closed at $22321s bid;
November closed at $1,000; tho year
$l9.25; January $3.50; Fob
ruary $3.50; March $1S.75@19.OO
and May at $1s.9O@1S.95. March closed
at $3.50.
Lard was active and irmer, averaging
slightly higher all around.
The prospects are that pork and lard
will sell up steadily perhaps fer two weeks
and if the receipts continue light oven
longer. There must come break,
for cheap corn means cheap
hogs. The longs have the power, however
to stave off the break for some time, The
market for both is largely oversold for the
next two months, and the shorts will have
to dance. During the past week operators
were plenty throughout, and of future pork
the week sales in the Board of Trade
reached the large aggregate of $4,000
tiercss. Last Saturday.. Wednesday,
Thursday and Friday were the "baa-
ner" days of the week in the way
Of business. Last Friday tho sales of
future pork and lard amounted in round
figures to 10000 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 IS, 900 bar
rels Of pork and $1,000 tierces of lard; on
Wednesday to 1000 barrels of pork and
$4,000 tierces of lard; on Thursday to 2O,7OO
barrels of pork and "a, 900 tierces of lard;
and on Friday to 10000 barrels of pork.
and 1900 tierces of lard. On tho first
three days of the present week the tenden-
cy was rather bearish, but this was sup
planted on Thursday by strong feeling
and higher range of prices, which has
been we'll sustained, and has not yet seen it's
limit. Opinion is divided as to the extent
of the probable supply of hogs for the win
months the products have been marketed
very close, much more than usual, simply
because prices have ruled higher. Corn
and other feed has besn somewhat scarce,
and producers sold their hogs and saved
their corn to sell a. corn instead Of heas.
The large falling Of 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 a SOW would produce on an aver
age half dozen pigs. The Same SOW hung
up in packing house could--not produce
pigs. Reasoning from this standpoint it
is very evident that the productive capac-
ity has been very largely curtaiIed.
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 seme claim, but
new corn does not make nearly as good
hogs a. old corn, and as old cefn 10 scarce
it is quite reasonable to believe that hog
producers will continue to market their