The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-03-03
CHICAGO MARKETS.
The Feeling Decidedly "Bearish" and Prices
Of all Cereals Forced Down.

CHICAGO, March 1.-The deliveries to-day dc
not disclose any secrets of ribs. They were
very light This was about as anticipated. OF
lard and pork they were fair, and of wheat pret
ty liberal There was not much corn going
around. The bank officials say it was very
light first day of the month. The people who
sold puts" last night are tonight badly out OF
pocket; those wbe bought have their weeks ex-
penses in their pockets and something over.
Jones, who took puts" on 500, 900 bushels OF
corn at 81 1-2c within LAC oflast nights market,
if he stood on them, has in pocket or on his
books, half cent profit ON the whole jig.
Barring provisions, to-day, all the markets
went to pieces There was mild weather, so
that the freezing temperature, which yesterday
was just good enough argument to keep the
figures steady, was not any longer available, and
wheat dropped TO 97c for May. The receipts of
corn were fair, 335 cars, and the inspection bet
ter Word came from ST. Louis that the re
ceipts there were large, and word from Kansas
that there was lots of tremendously fine corn
ready to be shipped All the little Southwestern
operators we're sellers. So those fellows who
''got on last night to ride up had instead and
much to their sorrow "a ride down" There
are lots of radical people tonight who are talk
ing S0c wheat and 45c corn. and for the month
of May, too.
Winter packing operations for 1884 are now
over The quantity of pork is a fixed fact, and
can only be changed during the next eight
months by the law of supply and denao1ld.
sxa3t figures cannot be given, as stocks have
not vet been posted, but pork stocks Will show
small, and guesses on the lard supply are widely
at variance. During the four months ending
Feb. 80 or the regular packing season, there
were received at this point 25S9 297 hogs Give
and dressed) against 2,S73, ,S97 for the same time
in 1923 and the total shipments for the same
periods footed up 607 236 and 1868 $50 respectively
leaving over for packing and city consumption
1892 06l this season, against 2,505, POS last,
decrease of 523, l47.
The quality of the live hogs marketed this
season was unqualifedly the poorest ever seen
since the establishment of the Union Stock
yards, the average gross weight being only 243
pounds, which was eleven pounds per hog lighter
than during the packing season of 1923 Of
III previous dull seasons in the provision pit
this week. to-day carried off the palm. There
. was little cash demand. iaGlr
All efforts the part of the bulls to revive the
dead spirit of speculation were a failure and yet
everything was in their favor. The market,
dull as it was was strong, and closing prices
showed an improvement over last nights closing
of II 1-2017 1-2c in pork, and 5G7 1-2c in ribs,
with lard just the turn better and sales for May
delivery were at a range of $18.050 1917 ID for
pork 50. .65 a9 72 12 for lard and 80 35@9 40 for
ribs Pork stopped 10, and lard at SO. 81 IL
Scarcely ANYBODY believes that the parties under
the deal have any notion of relinquishhlg the
fight May wheat barely touched 97c, the mar
ket being flooded with orders to buy at that
figure Here the local sentiment is very de-
cidedly on the bear side, being led by the heavy
operators who are selling quite freely to day,
and shorts were the principal buyers Some
large selling orders were from the East, New
York, especially, selling large lines. May wheat
ranged at 81 98c, with very little trading at the
extremes and closed at 97c. This was 5-S034c
under last nights closing price.
Corn followed the course of wheat closely,
opening at 81 7-se for May, declined to 81 1,4c,
ing at Sc or 3-4c lower for the day. The gen
eral local sentiment here is not as bearish corn
as on wheat. The shorts are disposed to buy on
weak spots, and sellers are not inclined to stay
on the short side long, generally taking the first
profit that shows. There were some outside
buying orders to-day for the long futures, chiefly
the July option The shipping demand for low
GRADES of corr continues good