St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-06

VIZ AANSA1NAOhS NCEC llOb HAAC An0 lit 0I-
cline was slight, January huctuating between
341sc and 351Sc and closing the same as yes
terday al 35c. May got up TO 37%c, &c
above the opening, and settled to close of
S714c. decline from yesterday Of &c.
Oats were weaker and May. which is the
option chiefly traded in, sold down &c to
close of 271Sc, while December closed &c
lower than on yesterday at 24Hc.
There is vigorous kick about the provi-
sion pit at the maneuver OF Sid Kent and
old ''Hutch." This pair has been bull
ing the product, aud the present advance Of
81 a barrel in pork was caused by their recent
purchases.
Said one provision man: "Kent and
Hutchinson are running four packing
houses, and ! can't for the lie Of me un-
derstand their attitude. 1t is Of the utmost
importance TO break the market in order 10
get live hogs down, and if they had held off
for while, hogs would have been 25e, per-
haps SOC cheaper"
Kent and Hutchinson have been pretty
liberal buyers Of hogs at the yards, but yes
terday and to-day we're holding off like the
rest. The younger members Of the packing
fraternity were good deal more vehement
in their rdeDunciation of what they declared
to be the "damphool trick of a couple of old
codgers." The secret undoubtedly is that
Hutch and Kent regarded the product
pretty cheap, and, as they were
'Ieft'' last year by Mr.. Armour, de-
cided TO get in good and early this
year, but in getting in this year they set all
the plans of all the other packers awry. The
upward movement was checked to-day, how
ever, as well it might be, in the face Of the
receipts of 6s, 900 hogs, which, with the sur
plus left over yesterday, made over $4,000
on sale this morning. In consequence the
Chicago Packing company had its hauds full
in trying to bolster up the market, aud the
task would probably have been impossible,
we're it not for the fact that short sellers
have been so repeatedly squeezed in pork
corners that they are timid about going in
very heavily all at once, and have to be lured
into the trap by degrees. The result was
that prices were fairly firm at lower range
of prices January pork opened at S11 As,
sold up to S11.50 and down to sll.371S.
closing Sc below the opening and 22Lc be-
low yesterdays close at sl1.4O. February
ranged at sl1.5O01l.621<. and closed zoe
below yesterday at S1L52%.
''It looks" said Geo. w. Shepherd. sAs
though the deal would be lasting one, and
do not think it is intended merely for a
quick squeeze of the shorts. The opinion Is
gaining ground that the supply of hogs this
year is not quite so great as has been gener-
ally supposed, and it is now estimated at from
5 TO 10 per cent. in number, or, allowing for
greater average weights I'm some states, az
about 10 per cent. in amount more than last
year,
January lard opened &c lower, and dropped
another sc, closing at S6.75, and February
followed the same course to a close of S6.S5.
Trading was not very active, and the feeling
was somewhat unsettled. Ribs were only
moderately active. January closed 1Oe lower
at $5.72X and February 121lc lower at
$3.50.
The day was busy one at the stock yards,
where the fresh receipts of hogs were esti-
mated at 6S.000, the greatest number ever
received since the opening of the stock yards.
The previous largest arrivals for one day were
on November 25, 1879, when the number
reached Ga, 469. The number on sale, in
cluding those left over last night, was aboAt
$4,000. Prices dropped 15@30c, the bulk Of
the best packing grades selling at about 81. 10
@4.2O and the best heavy at S4.25@4. 80.
The cattle market was quiet, with little or
no change in prices. Packers bought about
SO, 600 hogs, and the market closed with
20, 900 to %, 900 left for tomorrow.