Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-03-19
MARKET NOTES

Some commotion was caused In cat
tie circles at the stock yards yesteiuas
by the arrival of two cars or chiiieu
Argentina beef. 1t went TO AInloa. ~
golfers and the result was signallzeu AT
the company's restaurant by serVlns
foreign beef for dinner. The shipment
Is tryout arrival of $4,000 quarters
of Argentina beef at New YORK las'
week. the heaviest receipts since free
trade became effective, having glutteo
that market. This beef was or prac-
tically the same quality as product OF
domestic cattle costing $S0S.4O per cWt
at Chicag go, the hind quarters being ex-
ceptionally good. AS there Is only
limited demand for foreign beef in New
York, importers are under the necessity
of sending the excess inland, and more
Of it may be exepcted to come this
way Freight from New York Is 90
cents per cwt., which would be prohib-
tive if cattle values were not on such
a lofty basis here. The dressed beef
market is In a comatose condition eV-
erywhere, due to lack Of purchasing
power. Retail prices are prohibitive to
many consumers and the unemployed
Invariably abstain from eating beer.
With the exception of a few specialties
cattle values have declined 50@6bc
per cwt. in two weeks, and the market
is unstable on that basis.
A light movement Of corn Is expected
in Iowa, as farmers are not selling and
storm yesterday left country roads IN
bad sharpe Davenport, Iowa, wired:
"Three line houses with forty-eight
stations report not bushel or corn
bought yesterday at any of their sta
tons and no prospects of any for some
time to come" Sioux Falls, S. D., wired
Largest cash handler in this field put
out 800 card bids last night and had
acceptances on only 2 cars, although
bids were high. Farmers will be getting
into the fields this week and deliveries
from now on will be practically moth
ing"
It is the impression among corn trad
ers that a deadlock exists In the mar
ket. and one that will take strong in
fluences to break. Bulls are supremacy
confident Of their position and support
the market every time 1t breaks. while
bears are selling on the bulge, and
neither show much disposition to re-
duce commitments. The stubborn ac-
ton Of the market in the face Of bear
| ish conditions has caused number Of
deserfions from the short side. while
bulls who ~nla out on the bulge are
awaiting q reaction to get In again.
100000 bu in the visible supply outside
| of the amounts held at Chicago. Kan
sas City and Omaha, and with the lat
ter two markets making heavy sales
for shipment daily. it Is safe to predict
that Chicago will finally be called upon
for supplies, and that when the demand
| comes there will be a rapid advance.
With prospects for light receipts they
believe that purchases on breaks are
advisable although some Of the leaders
are inclined to look for minor set
back from the present level. Bears con-
tinue to call attention to the accumu-
| lations here, and the wide discounts
prevailing for the cash article In the
sample market, and predict that May
| will lose its premium over the cash,
rather than the latter gain on the flu
ture The specter Of the Argentina
shipments, they believe. will be in evil
dence later In the week, and that the
market was getting overbought. There
were some hedges removed here yes
terday against corn held in the south
west.
Trade in cash wheat remains quiet
and featureless, milling sales at Chi
cago yesterday aggregating 10000 bu.
Duluth, however. claimed 5000 bu
hard winter had been sold abroad and
the seaboard reported 10000 blu Mani
TOBIAS sold for export. Prices at st.
| Louis and Kansas City were un-
changed Omaha unchanged to nc
higher and Milwaukee nc lower Prem
iums at Minneapolis were firm, with
NJ. 1 northern selling IL @2%c over
Nav. and velvet chaff at 1M1Bc over.
| While the shipping demand for cash
corn remains extremely slow. only
$4,000 bu being sold Yesterday, Missouri
river markets reported an urgent call.
Kansas City estimating sales in ex-
cess Of 100 cars and $4,000 bu sold out
Of store, while Omaha said shipments
! doubled the receipts, and both mar
kets anticipate sharp decrease in
! stocks this week. Prices at st. Louis
were unchanged to 1hc higher, the
latter on selections Of No. 3 yellow
Kansas City closed y @1c higher. No
3 yellow and No. 2 white bringing the
latter, sales OF the latter being made
at zoe. Omaha was unchanged to 1c
higher. Peoria A@1Ac higher, and
Chicago and Milwaukee unchanged to
! nc lower Fort Worth. Texas claim
ed to have bought $50 cars corn from
Kansas City and Omaha on overnight
bids " H.
! A slow demand was on for cash oats,
sales here being 100000 blu, with
sample prices unchanged. ST Louis
was unchanged to Nc lower. Peoria and
Milwaukee UNCHANGED, and Omaha I'M
| changed to NC higher.
! Farmers and Drovers' Journal re-
ports Strengthening Of hogs in the west
| for the week at 100000 compared with
\, 46s, 900 the previous week and $4,000
| last year Cattle slaughtered, $4,000;
! sheep, $4,000: calves, $4,000
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