St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-04

good 1 200 to $50, s5.50@5.75; good 300
to 1,40O steers, s5.75@5. 90; exporters of
1,4O0 to 1,5O0, S5.95@6.3O. Cattle that
would sell for Sc or over had to be prime.
Estimated receipts of hogs IA, 500 against
8,505 last Thursday, moking an increase of
about s, 1000 over the corresponding period of
last week. The market ruled slow and
prices dropped strong 5@10c on all grades,
with the chances that May would be left
unsold at the close. The provisions market
was weak and prices lower, hence packers
were buying only few and the shipping de-
mand was also light, one or two of the prin
cipal shippers being out of the market. Fair
to good shippers and packers sold at range
of S6.10@6.90; no demand for
assorted heavy and Philadelphias;
assorted light, s5.5O@6.55; skips and light
lights, $5.25@5.75.
Estimated receipts of sheep, 5000, against
3,161 last Thursday, making an increase Of
about 1000 over the corresponding period of
last week. There was fair steady demand
for all the fresh receipts, among which were
about l 200 Nebraskans. Prices underwent
no essential change, and about all were sold
at an early hour.
Milmine, Bodman & Co. says: ''The weak
ness in the deal all around is becoming more
and more manifest as the market declines.
The decline does not improve the demand
for wheat. The confidence seems about all
gone and pretty near all operators are bear
sh. We still think it must sell considerably
lower ere we strike on export basis, and un
til it does we shall have no confidence in
any material reaction, and we shall not be
surprised to see the market sell down to
about soc in the next few days. We shall
expect after markets once strike bottom to
see good active trade, and the new crop
will most likely be handled on an advancing
market, as are all likely now TO strike
bottom before the new crop moves. Corn
shared in the weakness Of wheat and was
dull and weak all through. The closing fig
ures are, May $3.50, June sac. July soc.
The trading has been large all day. The
feeling on corn is not so bearish as on wheat
but the bears in wheat and provisions are
selling corn freely, believing it relatively
we should prefer selling wheat as we have a
good consumptive demand right along for
corn and none for wheat.''
Miner, Richards IL Co., say: ''as we pre-
dict the market, after the shorts are covered
tn ere will be a surplus of long May wheat
largely represented here by twelve million
cash, which will largely come on the market
between now and delivery day, which when
offered will not find shorts for buyers but
must go into tide hands of those who will
take it for consumption or investment, un
less the June option widens to carrying
charges over May. We cannot see anything
III the situation that indicates any more
strength than when prices were 1Oc
higher. We still advocate sell
ling on strong places as all are
liable to see wide fluctuations before the first
of May and think tendency is to still lower
prices. We consider corn safe sale on
strong spots above SOC for May"
Crittenden 81 Harvey say: ''Prices for
wheat are now lower than they have been for
years everywhere and yet we can see nothing
to encourage buying except the low prices
prevailing. But at this decline all don't wish
to advise short selling. We have lost faith
in corn and believe the time will come when
a man can buy and carry for a profit.
Local bears are about exhausted
their stocks of rumors and it looks to us as
if prices were low enough for while. AS
to provisions we do not think it a good place
to short the market. We hardly believe the
leaders have let go much product The de-
cline to us acts like an arrangement and we
are inclined to think hay products will prove
a purchase at only lower prices.''
Mccormick, Bennett 81 Day say: ''The
feeling of local operations in wheat is still
very bearish, and without some radical change
in the situation prices will probably golower;
export orders were all withdrawn, and if we
are to carry present stocks into the new crop
it is hard to tell how low wheat will 90.
However, many conservative men think it
good property and believe something is sure
to turn up to advance the prices. Corn in
Baltimore is only &c above US to-day. How
ever, railroad officials are all bulls; they insist
that there is very little corn to come forward
and that prices viii rule much higher during
the summer. We cannot advise selling ON
this brcak.''