Daily globe., 1883-07-09
Another Big Reduction in the Price Of
the Hog Market Yesterday.
BOTTOM NOT YET TOUCHED.
Somewhat Stea lier Feeling in Wheat,
Owing to Favorable Reports.
TEE FLOUR MARKET STAGNANT.
A 0Riet, Featureless Day Among the
Bulls and Bears OF Wall Street.
rRE FLOUR MARKET STAGNANT.
CHICAGO.
Especial telegram to the Globe. I


kets day was another heavy decline in
provisions, amounting to zoe for pork, and
20c for lard, caused by buyers withdraw
ing from the market on the report Of soil
&ary cases Of yellow fever il the south,
which it was feared would again interfere
with the shipping demand. Offerings for
New YORK account were placed on the mar
ket first, then brokers began selling for
local packers, the weakness increasing TO
the close Of the session. It would seem
that after such combination of depressing
Influences and SO much resulting decline to
predict lower prices yet would be hardly
conservative, but the opinion of the major
ity is that quotations will probably con
tinue TO shrink, and that bulges viii be the
exception not the rule.
The grain markets all show Il s..3@tun-
tiaI improvement. For wheat ;ue1e was
good speculative demand, and the market
ruled irmsr and prices AVERAGED higher.
Shorts purchased quite freely 10 day, and
shis induced others to buy, and at one
time the demand was active. The wealth
er had same effect on the market, and the
advance in corn also had some influence
The market opened from 4@15c higher,
advanced 1c above inside figures, receded
trihe and closed 58c higher than on
Change yesterday. Adams, Spence and
other local bears were covering to day,
and there were reports of drouth in some
spring wheat sections. Opinions are di-
vided as to permanent adbance being
near at hand, shrewd traders contending
that lower prices must be submitted to be-
fore we can have a healthy market.
The -four trade is at a standstil. No
eaangewa noticeable in this market. and
sheTe is little prospect for any improve
ment foT the near future, with the de-
pressed condition Of grain keeping buyers
out of this lire, and making it impossible
to sell any grade or quality at near WI at
can be called paying prices. The home
trade was not looking at samples, and OUT
side orders next to nothing of we'll below
present prices. Bran and all millstutl,
were in good supply, but selling quite
fairly at SO q 1850 per ton fer bran. and
relatively for other kinds.
Corn was active and at :imes excited.
The market opened strong under
gooG demand to cover short
sales, the bears being induced
10 cover by report that the bulls were
preparing to squeeze all the options this
side Of seller the year, and under a brisk
demand from all classes OF buyers prices
advanced l13c from the inside and
closed at about that improvement over
Friday. There was some Investment de-
2aand oday and more than The usual
shipping inquiry. Poole and Kent were
among the largest short buyers, but cover
ing was generally among all of the bears.
The receipts were trife larger, 457 cars,
and the charters 100000 bushels. The stu
alton tonight looks rather bullish.
The nervousness over July oats con-
tinues. As compared with yesterdays on
change closing prices the market exhibits
an important advance. No. = cash sold &c
higher. No. = white quotable 115c higher,
and there was firm market
for sample lots with 1911ac improvement
and all consignments were taken. The
frmness emanated from the speculative
market, and the fact of there being only
small receipts and good shipping orders.
The speculative market was firm
and higher. On the whole range
as compared with yesterdays
change closing the following showing
is made, July ranged 23l c higher; August,
September and October advanced l &c
and year sold Ic higher. A part OF this
i=haral o6vapca ,vaS acto hIj.had on tho 10 ta
call yesterday, but for to-day it can be
sail there was manifested on the part of
operators timidity about selling out,
when the demand which was presumably
largely from shorts were good, especially
for July delivery. At the extreme close
the market showed some weakness and
closed at q under the outside price with
the feeling tame.
Rye was doing somewhat bet er, with
quite good call for the longer futures at
the close.
decidedly weak and unsettled feeling
prevailed in the market for hog products
to day, and a substantial decline in
prices was submitted to. The offerings for
future delivery were liberal, while the de-
Was ACb utEOAe1 dho
mainly from shorts. Trading in the ag-
gregate was quite large. The market
opened rather easy at the closing fgures of
yesterday, and declined quite rapidly to
the medium figures of the day. About the
middle of the session temporary rally
was made, bat the market weakened again
and gradually receded to inside fig
ures During the latter part
of the session the feeling was
easy and trading moderate. The inquiry
for shipment was fair. Foreign advices
we're unfayorable to holders, and lard and
bacon were quoted 6l lower. Eastern
markets were easier. The receipts of
product were fair, and the shipments quite
large.
The offerings Of mess pork were quite
free and the demand active. The specu
Iative interest centered in contracts foI
August and September. Prices ruled weak
during the greater portion of the day, anG
declined 5O9 65c on the whole range and
closed rather tame. Slipping demand fair