St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-02-26
neglecting the market for the porpOse of ere

neglectlng the market for the porpose OF Gre
ating a short selling, and the crowd, while
disposed to sell, are rather cautious, and their
selling seems to lack confidence. We do not
think packers will let things go by default
long and guess if fair decline can be es-
tablished they could buy with profit and
safety, although On the long futures we think
advantage could be taken Of the sharp buy
ers and begin selling for the top"
Milmine, Bodman & Co. say; "Our mar
ket has declined more than others to-day.
Some Of the large and strong holders, seeing
the fine crop prospects and absence OF ex-
port demand, are excepting the situation and
unloading just as fast as they can to adyan-
tage. The export demand which it was ex-
pected by this time would be taking at least
1000, 900 bushels of wheat per week, has not
improved and in fact seems to be less urgent
than a fortnight since. With the coming
crop there will be the opening up of the large
supplies in the Baltic and Black sea
ports for distribution to England
and the continued and increasing crop of
early harvesting countries is now on the way,
SO taken altogether the holders have but little
encouragement for higher prices, and some
OF the most determined holders have aban-
doned the contest and accepted their losses,
which in some cases are considerable. VI
course in times like those when the selling
becomes mania the market is very liable to
become oversold and from this cause there
may, and most likely will, come reactions,
but we think they will likely only be tempo
rary. The trading to-day has been liberal.
but we think the larger portion of the sales
have been long wheat. The whole thing now
resolves itself into bet on the weather for
the next thirty days. and while the basis just
now would seem to have gone in their favor,
yet, after all something may occur to render
their position most critical indeed. We
would mot advise buying just yet, had rather
wait until one can have something more re-
liable than weather to buy or sell on. Corn
has shown more strength than wheat. Trad
ing was large, especially when market struck
58c for May, as there seemed to be large
orders limited at that figure. The wagon
roads in Iowa and Nebraska are still in fine
condition, enabling farmers to market their
not likely to fall off much while this is the
case. Prices may sell some lower but we
still think favorably of corn, and when the
roads west break up we think it will be time
to take hold for an advance. The home con-
sumption demand continues good and is liza
BILE to remain so.''
Shepard & Peacock say: "To-day's pro-
vision market was weaker and lower one,
though early prices were indicative of an
other upturn, but which did not transpire.
The general trading crowd are mixed on the
situation and afraid to venture in until after
the stocks are shown up. We anticipate a
small showing of pork, in which event prices
are apt to make sharp squirt and drive a
good many shorts to cover. The deal is a
large one and confined to few parties.''
Receipts of cattle to-day 6, 800, an increase
of 4,500 over Saturday. Shipping and
dressed beef grades sold well
at full prices. Stockers and feeders
however, were slow as the stock offered was
poor and held above the views of buyers.
Butchers made moderate purchases but
could not be induced to operate with any
degree of freedom.
Receipts of hogs were 10000, an increase
of 1900 over Saturday, and a decrease of
5000 from last Monday. There was fall
ing off in that quality of the offerings, choice
being scarce and it was estimated thrre were
fully 5000 stale pigs in the pens that would
not average over 130 pounds and some
of the best light have been held
for over a week, the market
opened irregular with an uneven range Of
prices; packers were not buying as freely as
formerly, and the market was dull and weak,
with many left in the pens unsold.
The receipts of sheep were 1000. Good
even fat and fine wooled stock sold fairly, but
for common and medium falling off in the
demand was noted, and should the arrivals
this week be as heavy as on the preceding
one, lower range of prices is predicted. We
quote: Common, SO. 50@3 rs fair, 81 OOO425: (:
medium, $4.50@4.85, and the best 5000
$50; lambs and fancy wethers $6.00@6.10