Omaha daily bee., 1888-01-19
The SPECULATIVE MARKETS.
Pork the Leading Property in the
Recent Break.
A DOWNWARD TENDENCY IN CORN
The Provision Pit Pervaded by n
Nervous Feeling Cattle Dull
and Deprcssed-Hog Trading
Slow General Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO, Jan. 1s.-fSpecial Telegram TO
the BEE In the break which extended to
everything on the floor yesterday afternoon
and this morning pork led the way. As to
that commodity there was evidently con-
certed and carefully arranged plan to ham
mer the market and bring out property held
on narrow margins. The attempt was sue
cessful, although the bear manipuators are
said to have been considerably disappointed
in the amount Of property thrown over to
have losses. II was less than they expected.
There are no indications of any such con
certed bear action in the gram markets, but
the effect there was just about the same
Not much business was being done and the
market seemed poised upon rather small
support and ready to be toppled in either
direction by good hard blow from either
side. The break in pork furnished the need
full force and it was in favor Of the bears Ac-
cordingly wheat prices fell lc The decline
OF yesterday afternoons session had carried
May wheat down to s3l9Ms35sc and the open
ing this morning was at S3lsc, which APP
pcared to be too low for time, and under
realizing of profits By shorts and the buying
Of those who thought it time for reaction
the price improved to S33sc but later de
clined with short halts to S234c, but there
was very little trading at that figure, and
after the first excitement was over the price
held pretty steadily between S27Sc and s3lsc
for the remainder of the session, closing at
l o'clock at s3c. February wheat opened at
76Hc, sold up early to 1ilsc then fell to
769fc and closed at o'clock at 1624c.
The state of wheat was that of corn, but to
q lesser degree. The pressure to sell in the
latter market was not so great and the de-
cline suffered was smaller. but still it fol-
loved pork and the tendency was downward.
May corn had fallen to 53@Gc during the short
afternoon session of Yesterday and opened at
h3l4c this morning. During the early trading
tnat delivery sold down to 80 sc ana then ad-
vanced under much the same influences as
caused the first advance in wheat to 53l2c.
Then the price fell to 53c, but there was an
army of buyers at that price, and although
the same figure was reached several times
during The session, there were many more
buying orders ready for it than could bs
filled. Country spectators evidently lsc-
lievcd there was IA profit in grain ut that
price, as the buyers were commission men.
During the latter part of the session the
price hung in the neghborhood of 53lsc and
the o'clock close was at 53l4c. February
corn opened at iSc, sold IN to 4Slsc, down to
4iJzc and closed nominally at 4slsc at Il
o'clock.
There was a large business done in oats
entirely in May delivery. The speculative
market in this grain showed more activity
than for weeks past. One local operator was
said to have sold out about 10000 bushels
which, it was thought, We're bought at con-
sderably higher prices, and there was con-
siderable other long grain thrown ont. Still
the market took it without serious break,
and the decline here was smaller than any
where else. May oats opened at 333lc sold
down to 35ssc, back to.83Ac and closed at |
o'clock at 33l 40133aSc
In provisions the feeling was nervous
Yesterdays afternoon break naturally
brought out for sale large quantities of local
and country long property, in which marginal
deposits were absorbed, and the opening this
morning was excited and irregular. During
the unloading, which exceeded all eXpecta-
tions, trade was unsettled to an unusual de-
gree, but as business progressed and it be-
came evident that the old bear element were
more inclined to hold the market than push
the advantages which they held. IA better
state of affairs prevailed. The excitp.hcnt
AUD uucasiness witnessed carlr-i11a measure
subsidized and firrcesb bgraanT1ly advanced more
or less and ruled tirmar. At | O'Clock pork
stood 22i4c higher than the inside figures
touched and 25c under last nights closings.
Short ri, closed at last nights prices to 30
lower am lard at an actual advance of
. 2l4015c.
AFrERNG \SEssloN-Whcat was a shade
better; May sold at s3is@s3i4c, fell to SIC,
closing at s3(9s3lsc Corn was rather firm;
May sold at 53lq@533sc, closing at 53l5c bid.
Oats, stronger; May sold at 3355a38s.c and
closed ut 33sa asked. Pork wasadvanced sc,
closing at $l395 for January and February
and $l431l4 4@l4. 40 for May. Lard was strong
and unchanged; January and February closed
at $727l l9m730; May sold at S7.5O(n7 52I5
Short ribs closed 2l2c higher or at S745 for
January and February. S7.55Ql7.5715 for
March and $1.72I I9G1715 for May.