St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-06-11
HAIL THE HOG.
King of Trade Among the
Board Operators of
Chicago.
Visible Supply of Wheat June 1st
Much Larger Than was
Expected.
The Market Weak, Transactions Light
and There's no Life i'll
Futures.
Corn Little Firmer, Texans Rule the Cat
tie Market, and Sheep No Good
At All.
Hogs and Hog Products the Best Property,
But There's None Left for
Outsiders.
Hogs and Hog Products the Best Property,
But There's None Left for
Outsiders.
CHICAGO
Special Telegram to the Globe. !

ISptGldl 1eleSrdln 10 Ine NrlODe.
CHICAGO, June 10.-The grain markets
were again very duh to-day, and what busi-
ness there was, was chiefly confined to local
operators, and mainly in the way of settling
up deals. The absence of outside orders is
not owing to lack of desire to trade, but is
attributable to the fact that the condition of
the market is such that there is no object in
making deal. The fluctuations are within
such a narrow range that neither profit
or loss would materially alter the original de-
posit. 1t is the popular belief that
this condition will continue until
some influence more potent than the
posting of the visible grain supply enters the
market. These figures are now about all
that cause fluctuations, bit they are usually
known so far ahead of their posting that their
influence is in a measure discounted. At
present there are few indications of an early
and permanent improvement, as the receipts
promise to increase without 3 corresponding
augmentation in the shipments, prices being
either relatively higher or SO close up to the
figures in the markets to which we must look
for an outlet for our surplus as to prohibit a
ignore the fact that we are rapidly
nearing the time when new wheat will COM
pete with our present supply. The stock of
corn promises to either increase or remain
nearly stationary for the next few weeks and
there is little to encourage buying for an ad-
vance. Provisions developed an increased
tirmness and a moderate business was doing
II, f1tI1r ba ctr utb 5,,a
in a great measure to the manipulations of a
few strong firms who hold the stock of pork
and short ribs as well as the bulk of the out
standing contracts, and are forcing prices up
to make the shorts settle.
Wheat was unusually dull and somewhat
unsettled. The bull arguments were firmer
cables. a higher opening in New York,
smaller receipts and larger shipments, and
under these influences the opening was 20
&c over yesterdays close; but the demand
was slow, outside speculative orders being
light and export orders below current figures.
July opened at 9O15@905sc and advanced TO
90Mc but when the demand from timid
shorts and few outside orders for an ad-
vance were fled the bidding was exceeding
ly slow and after the posting of the visible
supply, g. $40, 900 bushels instead of 200, 900
as was ssseXpected) a weak feeling developed,
which was increased by reports from New
York stating that purchases made there yes
terday for export had been resod and prices
steadily settled to S9Mc and closed on the
regular session at 89M0S9Yc. In the after
uoon the market was weaker with increased
offerings and July wheat declined TO S9Sc.
Corn was very lightly traded in in Iegi-
innate speculative way, i. E., on new orders,
ior in this pit they were as scarce as in
Dthers, but the scheme of selling Sep
.ember and buying year was largely
INDUCED in by E. W. Bailey, Counselman,
J. B. Hobbs, Foss, Strong 81 Co., Culyer &
Co., Milmine u Bodman, Young Il Co.,
Dwight d Gillette, Fairbanks, Seymour, Hunt
d Co., McCrae, Poole, Kent & Co. and other
houses who see the most money in the short
side of the market. Roache unloaded July
literally in the neighborhood of 5615c This
option opened at 5615c, sold up to 56%c,
and dropped to 5614c, at which it closed.
August opened at 574, advanced sc,
then dropped to 5735c, and
closed easy at size. On the afternoon
board offerings were larger and July declined
to close at 56c and August to 57c.
Speculative trading in oats was small and
prices confined to a narrow range, showing
no material change from yesterday.
Business was only moderately active in the
provision pit but the feeling was firmer and
prices were slightly advanced on all the lead
ing descriptions, and the appreciation was
moderately well supported. Trading was
somewhat limited and mainly in contracts
for July and August delivery. The receipt.
of the product were fair and th,
shipments unusually heavy, especially fo
pork and meats. Speaking of the advance a
prominent operator said: ''The supply OF
hogs is smaller than anticipated The cash
product is well held and by men who havC
been shipping it out with amazing rapidity.
The situation is now very strong naturally.
The speculative situation is even mucf
stronger There is an enormus shortage .
Pork was in small demand and the offer
lngs somewhat limited. The market ruleC
stronger however, and prices were advanced
e0d25c on the whole range and closed stead,
at $3.50 for July and August on both boards
feeling was firmer and prices advanced p
95c, July closing at SS.3219(@S.35, and
August at SS.45@S.4715.
Short ribs manifested little more activit,
than usual, and the feeling was frmer, ac
companied by an advance of 5(010c, whic
was well sustained, the closing for Jul
being at 1915.
The cattle market was fairly active and
shade firmer on all grades of cattle. an,
closed steady. Native cows and common
stock must now, compete with Texans. an,
when the latter are plenty the native stocl
must sell at low figures. Veal calves are i,
large supply, and are selling all the way from
$3.50 to IS per 100, mostly at Sc. 25(a7 fo
the best A good COW with calf will readi1
sell for $50, and fancy one will bring SEQ
but the bulk Of the COWS arriving here ar
those that will sell for only about $50 to s4
or thereahouts. The best cows that are soil
here are usually ordered in advance, and fo
such liberal prices are always allowed if the
come up to the recommendations of tn
seller
The hog market opened active and 100
15c higher on all sorts. The market close
steady with about all in first bands sold
spectators however carrying few LOT
over.
The sheep market remains in an unsatis
factory condition to all concerned Price
are so low that there is no profit for the mic
dleman. The butcher finds no inducemer
10 pro,oo,,4a 4l,o h,,eipae. 1-;fb 1.1