St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-17
Speculative Demand for Grain
Futures Small With a Very
Narrow Range in
Prices.
Cereals Close Slightly Below Fridays
Prices, and Hog Products a
Little Above.
The Decrease in the Packing of the West,
the Past Year Estimated at Over
Million Hogs.
Activit4 In West Shore Bonds the Fea
ture in Wall Street.-The Rest OF
the List Dull.
CHICAGO.
Especial Telegram to the Globe.1

CHICAGO, March 15.-The markets on
'change were exceedingly quiet, neither buy
ers nor sellers showing disposition to op-
crate to any extent, although much
stronger feeling was developed in hog pro-
ducts which attracted the most attention,
and prices were higher than on any preced
ing day this week. Grain was slow through
out the session, the speculative demand fol
futures being small, offerings on cores
ponding scale and fluctuations were
confined to a very narrow range
1t was, in fact, a market OF
which no large amounts could have been
bought without causing sharp advance
while free selling would have produced de-
cline. Acomparison of the closing rates to-
night shows decline of sc on wheat, ~
on corn, nc on oats, and an advance Of
121Ic on pork, 219c on lard, and 15c on ribs,
over the prices current last night, and with
last Saturday there is decline of 1c on wheat
and &c on oats, an advance of nc on corn
45c on pork, 2719c on lard, and 1870 on
short ribs.
Speaking of the situation to-day N, B,
Ream said: ''There is nothing new, the
markets are dull and speculation will be
light for the next thirty days. The large
spectators here have closed all their trades
and do not care to trade any more 1 have
made few trades to-day but only occupy my
time, as I cannot stand around here and dc
nothing"
A large operator offered an eastern railroad
15c to-day to take 100000 bushels of wheat
out and it was refused. The shippers, how
ever, look for 15c rates next week.
Packers have done little the past week in
the way of packing. A half dozen houses
were in operation; more for the purpose of
supplying the wants of the local trade than
any thing else, and made hams, shoulders
and short ribs. The supply of hogs were
small, 65, 1862 being received for the week,
against &c. $50 the previous week, and 49,
800 for the same time last year. The quality
was very poor, and the yield of lard small.
The packing here since the close of the win
ter season, March I, is so, 900 head against
$4,000 for the same time last year,
and ~, 900 for 1882. The packing in the
west the past season is about 900 less
than the season of 1898. The falling off
in the weight of the hogs is estimated to
equal three hundred fifty thousand hogs adj
ditional, making total decrease of 1,100,-
600. The falling off in production is esti-
mated as follows: Sides, 94,000,000 pounds,
equal to 494, 900 barrels of pork; hams,
3S,000,000 pounds, equal to
$4,000. tierces; shoulders, $4,000, 900
pounds, equal to 10000 tierces;
lard 100000 pounds, equal to $4,000
tierces; decrease total, 205, 900, 900 pounds.
The stocks of lard on the continent
on the dates named were: March
1, 1884: Hamburg $4,000 tierces; Bremen
5000; Stettin $500; Anterwerp 5000; Havre
$500; total $4,000 tierces. Feb. 1, 1884:
Hamburg 10000 tierces; Bremen $500;
Steettin $500; Anterwerp 1000; Havre
$500; total 45, 500 tierces. March I, 1888:
Hamburg 5000 tierces; Bremen 1,500; Stet-
tin $4,000; Anterwerp 5000; Hayre 1000;
total "a, coo tierces.
The packing at Milwaukee since the close
of the winter season is 6,099 hogs, against
S,769 in 1888.
Wheat was quiet and tame. There was in
fact nothing in the local situation, or tone of
distant markets to which we look for an out
let for our supplies, to influence prices, New
York prices showing scarcely any change,
and Liverpool and London cables quoted
dull and steady markets. The bears, al
though disposed to talk with their accus-
toned courage, were not inclined to sell to
any extent, while the buyers orders
from the outside were scarce and local opera
tors on the bull side showed disposition to
hold off, not caring to increase their holdings
on Saturday. Opening sales were on basis
of 96%@Tc for May, declined to $500, adj
vanced to 963lc, fuctuated between $3.50
96%c, and closed at 9615c. June ranged at
9S$s@98%c, and closed at the inside. July
sold at 9915@997sc, and closed at 991zc.
September at 99@9936c. There was an in
creased desire on the part of spectators to
get as far away from the cash as possible,
and the difference between May and the long
futures is widening.
Corn was steady, but speculative grades
for future delivery dull, the local and outside
demand being small and holders not in
buy and hold over Sunday. The market,
from the opening to the close, was spiritless,
aud fluctuations were confined to a narrow
range, Opened at 571S@575Sc for May, de-
slined to 571Ic on reports of large receipts at
st. Louis and Kansas City. Later it was
stated that the arrivals there were bought in
Kansas for Baltimore, and prices sold back
to size, but weakened at the close to $3.50
57Ac. Sample lots on track were in good
taken at an advance of 15@1c. The in
spection to-day included 274 cars, of which
"a were contract.
Oats on track were in good shipping de-
mand. The offerings were were small and
prices shade better, but speculative features
for May. Rye continues firm, with small Of
ferings and sales at 63s4c for May and Coo
for gilt edged cash.
The market for hog products showed more
life and stronger feeling prevailed. Trad
ing however was chief in pork, and mainly
of a speculative character, the most promin-
ent operators being Cudahy and Stevens, Bald
and Schaenman who bought freely, and it
was their buying and the free covering by
shorts that caused the advance. May sold at
$1S.15@1S.30 and closed at .25@1S. 2715;
June at $1S.25@1S.45 and closed at s1S.37115
@1S.40.
Lard was moderately active and 5@71lc
higher, but trading was not as large as on
Friday, and prices showed less variation May
ranging at SO. 75@9.SO and closing at $9.75
@9,7775, and July at 1895.
Short ribs were traded in quite freely for
Saturday, and shared in the strength of pork
and lard. The demand, however, was chiefly
speculative, very little call being made for