St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-05

for few DAYS more The outside will come
to the support of the local bulls in large num-
hers, and then, when it gets fairly going, it
would be useless to set any limit to the ex-
tent of the probable advance. We think the
market is now too strongly set for higher
prices to be easily turned, and unless there
are some failures somewhere, or some unfore-
seen calamity to check the advance, we shall
expect to see the market sell up to 90c or
over for May, yet, after all, we must expect
breaks occasionally ere We reach the top and
might get some very severe ones, and in case
we do get material break, we think it will
be safe purchase, for there is room for 15c
to zoe advance ere we reach a fair average
price for wheat"
Hamill & Brine say: ''Our market to-day
is not relatively higher than those of the east
ern seaboard. New York shows improve
ment for all deliveries fully equal to our own,
and within the past few days has led our mar
ket rather than followed it. The feeling now
being one of wild excitement, it is more
than ordinarily difficult to predict the course
of values in the immediate future. All pre-
cedents would warrant the expectation of a
sharp reaction, as large profits, rapidly ac-
cumulated, generally prove too tempting for
resistance, but the simultaneous efforts of
everybody to get into stock may still further
initiate values before the reaction sets in.
We should, however, regard it as prudent to
follow further advance with caution, if at all,
believing that, although higher prices may
ultimately rule, sharp break from values
soon to be, if not already reached, will surely
Gomez
Corn was quiet early, but later symDathized
with the advance in wheat and then adj
vanced sharply on comparatively good buy
ing by large local operators. The opening
was at Yesterdays figures, February being
35c and January &c below that. Both OPP
tons fell off 4 C from the opening, but went
up steadily when the buying movement set
in. and at the close January Shove an adj
vance OF 13Ic, and February of Ike. the
two options coming together at 3615c. May
opened at 3835c sold down &c and then
went up to a close of 39$5c, or 1c above yes
terday's last figures. On the curb February
sold up to 365lc and May to 40Bc, the lat
ter reacting and closing at 40c.
The provisions market to-day was merely a
scalping one, with no feature of special in
terest. February pork opened sc lower at
S11.35, and ranged between $l1.32H and
S11.45, closing 21Ic above yesterday at
S11.421I. February lard opened and closed
re higher at $685.; which was the highest
point of the day. The lowest was S6.77T.
February ribs opened PIC higher, fell sc and
closed 215c lower at $3.50.
The Commercial advertiser, reviewing the
provision market, says: Rather quiet feel
ing prevailed in the market for
hog products during the early part
of the week. Speculative operators
were not inclined to do much trading. Fluc-
tuations in prices we're slight. Toward the
close decidedly stronger feeling was devel-
oped, owing to an urgent demand for shorts,
and prices were quite rapidly advanced on
some of the leading speculative articles,
though not fully sustained 10 the close. OF
ferings on speculative account were not quite
so free. The deliveries on January contracts
were only moderate of mess pork and hard
and light Of short rib sides, smaller than
generally anticipated and regarded as
indicating moderate stocks, or else the sup
ply held to a great extent by heavy ope-
rators. The shipping demand was somewhat
limited and orders were generally for small
quantities. The supply Of hogs continues
liberal for the season Of the year aud the
quality is exceptionally good. 1t is now
generally conceded that the packing of the
t,riIf hat, ~ 10 - nd
increased weight will also be very impor-
tant factor. Still, prices Of hogs are regarded
as out of proportion to the prices of product,
aud packing operations 50 far have not been
attended with very large profits. Manufac-
turers at this point have sold product ahead to
some extent, but have generally pursued a very
conservative course and not engaged in
heavy operations by which the markets
for either hogs or product might be seriously
disturbed. The shipping inquiry from the
opening OF the packing season has been ac-
tive and the distribution larger than for the
corresponding time last season. The packing
at this point now exceeds that OF
last season, about G4, 900 hogs. The receipts
OF product were IN idsrately large and the
shipments liberal. The foreign demand FOR
hog products were somewhat limited during
the past week. The holiday season inter
fered with business to some extent. The in
quiry for lard was moderate and few orders
were provided for. Bacon was called for
spariugly aud generally held at figures
which prohibited trading.
Advicrs from Liverpool indicated weaker
feeling in that quarter, and quotations were
reduced IS, Cd on pork, 81 on lard, and 6d@
Is on bacon. The stocks in Liverpool were
somewhat larger than reported at this time
last year. excepting OF lard. Reports from
the continental markets were rather unsatis-
factory to holders. The export movement is
fair for the season, though moderate por-
ton Of the product is consigned in hrst
hands.
The domestic demand for hog products
was only moderate during the week just
closed, and orders were generally from utter
ior points and for small quotations. The
trade with the south was fair, and the ship
ments OF mess pork, hams, sides
aud shoulders to that section
were moderate, portion Of which
we're accepted on previously made contracts.
The inquiry from the eastern markets was
rather light aud mainly for special articles.
Orders from the Pacific coast markets we're
meager and the trade with Canada and the
lumber districts limited.
At IN" stock yards business was rather
slow all around, especially towards the close.
Receipts of cattle were light aud prices gen
orally rather easier. Receipts Of hogs were
moderate with early sales at equally high
prices as yesterday, but at the close were
5GlOc lower. Receipts for the week were
about l4i.O00 and for next week there ale
various tstmstes, some placing thu number
as high as $50, Coo and others as low as 2OO,-
600