Omaha daily bee., 1890-01-04
The SPECULATIVE MARKETS.
Wheat Dull ard Prices Average
Somewhat Lower.
CORN FREELY OFFERED
Quite n Strong Under Feeling Dis
played In the Provision Trade
Cattle In Active Demand
Hog Business Brisk.
CHICAGO PRODUCE MARKETS.

CHICAGO, Jan. 3.-TSpecial Telegram 10
The BEE. THE wheat market was dull and
prices averaged somewhat lower than yes
terday. The small depreciation In values
could not have been the result Of news from
the outside, because that was almost uni
formly bullish. some OF IL very buhish. Ca
bles were strong and In some instances pub
lie quotations were VIGOROUSLY below the
prices that were offered. Liverpool buyers
were paying fully $50 more for some quail
ties of wheat than the board correspondent
was aole TO report. The price for May, as
started in at, was S34c. IL got to s3l4c ana
s3asc, when a flood OF wheat was offered by
q couple Of big local operators and the
market worked back to S3c and then TO S29sc.
From this point it gradually improved.
About an hour before the close the price was
re- established at S3c aud maintained
there, once or twice bobbing up above,
but closing fiat aud he below yesterday.
January opened at ii9sc, ranged ut 71@6C0fSc
and closed at 1f5sc. with July resting at
Sl3sc. The volume of business transacted
in the local pit was not large, The majority
OF sentiment was bullish, but the power of
dollars was on the other side and repression
was therefore the controlling influence in the
regulation of values. The general condi-
tions are remarkably bullish.
In the corn market there were free offer
ings Of January early, which were, however,
well taken without any decline under the
closing figure of the previous day. The
price of cash corn is now lower than IL has
been since 1862, which is the reason for some
confidence In the present values. There are
free deliveries daily upon January contracts,
which helps to hold the market down. and
the relatively lower price at which No. 8
can be bought throws the burden of carry.
ing contract grade entirely on the shoulders
of spectators, aud this is another preventa-
tive OF immediate Improvement, The busi-
ness done was light and fluctuations narrow.
Prices at the close show very little change
since yesterday. AT the close January was
29a6c, February 293Scand May Bee sellers.
Oats receipts were rather less than antici.
pated, yet there was no strength in the
speculative market. In fact, the feeling was
really dull, with some easineSs manifest
owing to lack Of support and an inclination
on the part of a lcauing operator to sell May.
That month went at 22g22lSc. January was
nearly stationary at 20l4c and February was
1s@l4c over. Withdrawals from store since
the last previous report were but 2,965
bushels and Nc. 2 regular was nominal
around 20c. No. . white oats for May de-
livery were offered ut 235Sc.
In the provision trade quite u strong under
feeling was displayed. Packers again showed
some disposition to extend their future lines,
but the promptncss with which their offer
ings were absorbed made their selling more
limited as the day progressed. Operator;
generally acteu US III they were pret1y wei
satisfied with the situation, and from the
start the market received good support
Lard was the weakest article on the list, anC
compared with yesterdays closings showed
an advance Of l2l5c on January pork, 10c or
February pork and 2l5c on May pork ant
January short RIBS. Lard was unchanged Il
exc custer for February and short ribs fol
January and May sold. off 21sc. Speculative
interest was confined largely to May, which
ranged at 100000. 20 for pork, 81. 02@6.O 5 fol
lard and S4.S5@4 SIS for short ribs. Porl
lard at s. JOE .o5 and short ribs at I.Ss(aG.s7sS
january at the close stood 45c for pork, 25'
for lard and 27Hc for short ribs under the
May quotations. Cash purchases made
poor showing.