Omaha daily bee., 1885-02-27
The Bears We're Relentless, aud Put
May Wheat Down 10 70 S-4C.
Absurd Reports Used to Affect
The Wheat Market,
Corn Sympathizes With Wheat,
and Drops $50.
The Cattle Market is Lower Than
Last Week,
Hogs Were Plenty AMI the Market
Closed Weak.
Provisions Drop t0c, i'm sympathy
With the Bear Movement
in Wheat.


Special telegram to the BEE.
CHICAGO, February 26.--Ihe bears were
relentless again to-day, they put the price of
May wheat down to SO and then, as
if not satisfied with that, sold q few lots at
795 just for the sake of getting the price below
so. At one time during the forenoon a num-
Der of mall shorts who were obstinate yester-
day swearing they would not cover q cent
above 20 became suddenly uneasy in their
minds from some cause or another and buying
all at once, put the price up to SOY which was
the highest point of the day. The close at 1
cline of the day was PARTLY effected through
the most absurd reports. Yesterday every
body interested in grain heard of the alleged
action OF the French government in placing n
duty of 15c o bushel on American wheat, so
this morning when it was reported that the
French were selling wheat here, quite q
splurge on the bear side, and n general selling
movement among the scalpers ensued. Wheat
went down to so and about that time it leaked
out that the only Frenchran selling wheat on
the Chicago market to-day was q gentleman
who put out perhaps 200, 900 bushels and that
he did go to accommodate some long-headed
shorts who thought so would be q
good point to realize. Then came the
purchases by other shorts, which brought
about a reaction to S04c. Elsewhere there
WAS uOL IuuCu " aLbEbIbt IS hbbthtlOu " cDOO-
~ulators. Fluctuations of only &c in corn
made opportunities for scalpers there very
meager, and pork, too, was comparatively
steady at So S23@12 90. eTaken altogether,
the market was only interesting in view of
the complications in the wheat pit. On the
call there was enewed excitement and activ-
ity, wheat closing at 79Yc for May and SHE
for June. In fact, there was another bear
raid. Wheat was depressed from the opening
&c for buyers. showing a total fall for twenty
four hours of 1sc. Corn sympathized &c and
provisions 10c.
The market was slow, the pens full and
trade did not fairly open until Q late hour.
The ordinary run Of shipping and dressed
beef steers are 20@25c lower than at the close
of last week, and common to medium sells
30@35c lower. The best cattle on the market
to. day were the sort that are selling around
about So 50T95 30; good fat steers, such as are
ordinarily bought by shippers and dressed
beef operators, and such as form the bulk OF
current receipts are making 81 S094 30 and
fair to medium "a 60a4 90, with common
around about "a 25@4 30. Fat COWS and
heifers are making equally as good prices az
at any time, but medium to common sorts are
more plentiful and generally quoted lower,
while canning was quoted l5@2Oc lower.
Bulls in good demand and steady. Stockers'
and feeders in active demand and firm: 1850
to !, $50 lbs, 81 OO94 IS; 1850 to 1850 lbs.,
81 9O@5 80; 300 to 1900 lbs, So 50@6 90;
cows and mixed common, 81 OO@2 70; me-
dunn, So O0G3 80: good, So 75g4 20; stock
ers', SIS 1904 10; feeders, 81 25@4 70; Tex
ans, SO 7U@4 70.
HOGS.
With the fresh. receipts and the number
left last night there were at least 10000 on
sale. The general market opened rather
active and about 10c higher than lowest of
yesterday, but about steady with closing of
last night. The advance however was not
sustained, as toward the close the market be-
came dull and weak and 80 closed. The
prime cause of this weakness at the close was
the absence of the class of buyers that ship to
New England and want choice heavy sorts.
They refused to follow the advance of the
morning. New York shippers and miscella-
neous tuyers of light sorts bought freely.
Packing and shipping, go to 400 pounds,
81 1906 80; light, 14O to 2lOpounds, 81 V9
4 70.