Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-08-05


later and closed at decline of
10000 per barrel. Hogs were higher
but the demand for pork was comparative-
~ light, either for immediate or future de-
livery, while offerings were moderate.
Cash about the same as September.
In lard there was only moderate bust
ness and the market must be quoted as
ruling weak. Early the market was strong
and prices were shade higher than at the
close of change yesterday, but weakened
off later under free offerings, and closed
at decline of about TIC per 100 pounds.
Cash and August not offered freely, and
prices were nominally 715@10c under the
September option.
The signs all point to an advancing mar
ket, not because there has taken place any
substantial change in the supply or de-
mand, but because the strong spectators
are ranging themselves ION the buying
side. The shipments out of here of
100000 bushels of wheat by a Spectator
like Sid Kent ought not to affect the price
of it, but such shipment would, and such
a shipment is promised and expected.
Kent has been buying wheat since it stood
at 81. 10. He owned great deal of it
jointly with Armour some months ago,
but sold out at a big profit. He then
picked it up again after there had been a
drop of nearly 10c bushel and attempted
to advance it. It did not advance. 1t
tumbled and Kent dropped his load, bat
m To oh OF
lower figure. This is Kent's method. He
does not, like Armour, attempt to bulIdoze
the market. If it should become apparent
again that wheat was not really a cheap
property at present prices, Kent will GER
tainly unload again. But those who are
competent to speak for him say that while
he avoids collisions in his speculations and
yields whenever he believes he is wrong,
| that he is interchangeable and follows
the market without fire, buy
| ing, and if necessary selling,
but only to buy again cheaper. The local
| crowd here now seems to be of the opinion
| that Kent is right, and that wheat is on the
up turn.
Considerable activity was displayed in
the market for hog products during the
past week, yet the market was greatly IN
| settled and prices ruled with considerable
| irregularity. Spectators were inclined to
transact only fair business, and there
was no particular urgency in the shipping
| demand. Prices were on declining
| scale, and material reduction was sub
mitted to at one time. but the closing fig
| ures show that a portion Of the decline
| was recovered. The deliveries on August
| contracts we're quite free of short-rib sides
| and moderate of mess pork, and the stock:
on hand show a liberal supply of al
kinds, the decrease for the month
not being as large in the aggregate as gen
orally icipated-about 100000 lbs
The aggregate supply on hand is about
100000 pounds larger than at this time
last year. The supply of hogs has been
liberal and the quality very good, and tc
this feature of the trade more than any
thing else may be attributed the weakness
in the market for product. In genera
way the market may be said to be in {
very peculiar position. Very few opera
tors believe that hog products are too
high. Current prices are reasonable com
pared with the values Of other articles O.
food, and should encourage all active con
sumptive inquiry during the balance O.
| the season.