Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-27
HIDES AND LEATHER.
Nothing Encouraging in Outlook for
Hides and Leather.
WEAKNESS ALL ALONG THE LINE.
Cattle Are Forced Onto Market in Unusual
Large Measure.
PROVISIONS AND GRAIN WEAKER
OFFICE OF PITTSBURG DISPATCH.
SATURDAY, October %. 1890.
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OFFICE OF PITTSBURG DISPATCH.
SATURDAY. October 25. 1890.
Hides Drifting Downward.
The downward movement in the hide mar
ket noted for some weeks past gives no
signs of a stop. Prices are Nc per pound
lower along the line than they were week
ago. Heavy hides, which suffered least
from the downward movement heretofore,
are off Nc this week The latter have only
declined n from the highest point reached
a month or two ago, while luff hides are &c
per pound below the highest point, and calf
skins 1c below.
The hide market furnishes no encourage
ing features to the seller at this date.
is found in the large numbers of
cattle which are being pushed on
markets of late. In seasons when corn is
plenty and cheap the proportion of cattle kept
by farmers for wintering is much larger than
it is at this season. Grain is too valuable to put
into live stock. and as grass is now on the
wane, farmers are seeking to get what money
they out of their cattle and save their grain.
Hence it is that only the best grades OF cattle
are holding their own, and hides have been
steadily moving toward a lower level this month
past. There is little doubt that this condition
of things will continue until the very severe
weather.
East Liberty stockmen report that while
they find 1t difficult to meet demand for choice
beeves they are crowded with inferior and com
mon cattle and are forced to make liberal con-
cessions in order to unload. Short grain crops
and high prices are, no doubt, responsible in
large measure for weakness of cattle and de-
Ginning hide market. With hide markets in
their favor Allegheny tanners report the
leather trade as dull and slow, particularly
harness leather which has declined &c per b
within the past few months. Sole leather has
not declined as much, nor did 1t advance as
much in the upward movement of last summer.
The recent advance in footwear has been the
saving clause of the sole leather trade, Until
within few weeks, shoe leather was the weak
factor of markets and harness leather the
strong factor Now the situation is reversed,
and sole leather tanners are finding readiest
sale for their goods. But there is little &C
cumulation of stock in either line. Products
of the vat are moving abont as last as they are
ready for the market, and, though margins are
uncomfortably narrow, the large amount of
goods handled furnishes some crumbs of COM
fort There is no longer place in this market
for the small manufacturer of leather.
In Cereal Lines.
At the beginning of the week there was a
bull movement and prices of grain were on the
upward tendency. Within the past few days
the bears are to the front and prices have weak
ened. The grain operators have grown sud-
denly timid and transactions at the exchange
are very light for day or two. November
oats were sold outside of the exchange at 1870
to-day The genera opinion of dealers is that
sales at this figure will entail a loss on the
seller.
Provisions are unchanged this week, but hogs
are much lower. At Chicago this morning top
price of hogs was 81 20. Within few weeks
prices were 6Oc per cent above this figure.
Daily receipts of hogs this week at Chicago
have averaged $4,000 head and prices have
been steadily on the decline. A drop in hog
1, fo11 to- In in c hnrf
time.
In Produce Lines.
The week has developed few new features.
All dairy products of choice grade are firm and
prices are shade higher. A week ago pota-
toes we're very scarce. Now supply is equal to
demand, but markets are very irm for choice
stock.
Supply OF grapes is large and markets are
weak. There has been scarcity of strictly fresh
eggs for q week or two past, and markets are
very firm at outside figures Everything in the
vegetable line outside of potatoes is dull and
slow.