St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-16
Speculative Demand for Grain
Futures Small With a Very
Narrow Range in
Prices.
Cereals Close Slightly Below Fridays
Prices, and Hog Products
Little Above.
The Decrease in the Packing of the West,
the Past Year Estimated at Over q
Million Hogs.
Activity in West Shore Bonds the Fea-
ture in Wall Street.-The Rest of
the List Dull.
CHICAGO.
Especial Telegram to the Globe.l


CHICAGO, March 15.-The markets on
Change were exceedingly quiet, neither buy
ers nor sellers showing a disposition to OPP
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 Tor
futures being small, offerings on cores
ponding scale and fluctuations were
confined to very narrow range.
1t was, in fact market on
which no large amounts could have been
bought without causing sharp advance,
while free selling would have produced de-
cline. A comparison of the closing rates to-
night shows decline of &c on wheat, Nc
on corn, Nc on oats, and an advance OF
1215c on pork, 21Sc on lard, and 15c on ribs,
over the prices current last night, and with
last Saturday there is decline of 1c on wheat
7 and "a C on oats, an advance of nc on corn,
45c on pork, 271lc Oh lard, and 1920 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. / have
made few trades to-day but only occupy my
time, as cannot stand around here and do
nothing.''
A large operator offered an eastern railroad
15c to-day to take 100, 900 bushels of wheat
chi
ever, look for 15c rates next week.
u 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 Sc, $50 the previous week, and 63,-
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 1, is so, 900 head against
$4,000 for the same time last year,
and $4,000 for 1882. The packing in the
west the past season is about $50, 900 less
than the season of 1SS2-83. The falling off
in the weight of the hogs is estimated to
equal three hundred fifty thousand hogs adj
ditionaI, making a total decrease of 1,100,-
600. The falling off in production is esti-
mated as follows: Sides, "a, 100000 pounds,
equal to 494, 900 barrels of pork; hams,
3S;0O0,000 pounds, equal to
125, 900 tierces; shoulders, 100000
pounds, equal to 10000 tierces;
lard 100000 pounds, equal to 122.0O0
ierces; decrease total, 205, 900, 900 pounds.
= The stocks Of lard on the continent
IN the dates named were: March
1, 1884: Hamburg 25,O 900 tierces; Bremen
5000; Stettin $500; Anterwerp 5000; Havre
$500; total $4,000 tierces. Feb. l, 1884:
Hamburg 10000 tierces; Bremen 1850;
steettin $500; Anterwerp 1000; Havre
2, 500; total 45, 500 tierces. March 1, 1888:
Hamburg 5000 tierces; Bremen 800; Stet-
tin 2, 5000; Anterwerp 5000; Havre 1000;
total "a, 600 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
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%@Ic for May, declined to 96Hc, adj
vanced to 96Mc, fuctuated between $500
96%c, and closed at 9615c. June ranged at
9S$5@19S$4c, and closed at the inside. July
sold at 991@@99Yc, and closed at 9919c.
September at 99@999sc 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
demand being small and holders not in
clined to sell, and the bulls not inclined to
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 57115@575Sc for May, de-
slined to size 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 571Sc, but weakened at the close to 81
57Ic Sample lots on track were in good
shipping demand, and all offerings quickly
taken at an advance of 19@1c. The in
spection to-day included 274 cars, Of which
81 were contract.
Oats on track were in good shipping de-
mand. The offerings were were small and
prices a shade better, but speculative features
were dull and closed shade lower at 355sc
for May. Rye continues firm, with small of
ferngs and sales at 63%c 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 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
S1Ss15611S. 30 and closed at SIS. 25C01S. 2716:
June at SIS. 25@01S.45 and closed at SIS. 3715
@1S.40.
Lard was moderately active and 507Lc
higher, but trading was not as large as on
Friday, and prices showed less variation, May
ranging at $975@9. so and closing at S9.75
@9,771S, 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