Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-02-28
MARKET NOTES

!, Wellington Leavitt, chief cattle buy
err for Swift, who recently went down
into the southwest to ascertain tne
spring and summer cattle supply pros
poet, has reached Fort Worth, Tex,
after finding conclusive evidence or
actual scarcity in Missouri river terri
tory. At Fort Worth local market en-
thusiasts exhibited statement Oh re-
ceipts showing gain OF ABOUT ao'ooo
head over 1918, but were promptly re-
/ minded by the Chicago expert that TINS
increase was due wholly to imports OF
Mexican stuff. Packers are displaying
!! concern over increasing scarcity ana
cost enhancement. Not only Is there
1 an acute shortage Of cattle, bat quality
| shows marked deterioration compared
with former years. indicating that Feed
ell are down to the dregs Of the bovine
population of the country ana In the
process Of replenishing feed lots are
forced to take inferior cattle that lack
! the board bill paying capacity. Thou-
! sands of such cattle have been dumped
recently because they were not giving
!, results for the feed consumed. Corn belt
feeders are now feeling the pinch OF
J., stock cattle scarcity and miss the army
Of high bred range cattle that formerly
tropped across the Missouri river for a
| corncrib cross.
/ February corn was offered yesterday
at 3Ac under May without takers. ana
some of the cash handlers had 1t that
an easier tone in the cash sample mar
ket was to be- expected for the next
few days One Of the leading elevator
interests withdrew from the sample
market yesterday and the leading IN
Gustry was said to have enough corn
on hand to keep them running for some
time. Sales Of 100000 blu No. mixed
were made in store yesterday at very
attractive figure. 1t was the gossip
that a local elevator concern which re-
Gently learned that 100000 bu had been
sold for shipment from their elevator,
o, dered enough corn sent there to re-
i place it. but the corn was still on track,
as the buyers said they were unable
to take the amount purchased owing
to their already large stocks.
! 1t was the gossip of the wheat trade
last night that prices were to hold
within comparatively narrow range
| for some little time and while ma
jority Of operators were bullish and ex-
pected to see q gradually advancing
market, few Of the best posted people
said they would not be surprised to
see a setback to around 94hc before
there would he much good on the buy
ing side. The figure that the local short
interest has been materially reduced,
and number OF the recent bears We're
heavily long at close to the high point
and these lines would be apt to come
o. on the first show of weakness. Tne
failure Of the market to advance rapid
ly In the face of the liberal export
sales. which were reported by the sea-
board as high as 100000 blu In the
past three days. including Manitobas,
suggested that there was distribution
on the bulges byia large interest, who
were evidently reducing their commit
ments. The market has also failed to
make a good response to the sales OF
hard winter here Of over 100000 bu in
the past few days, mainly to seaboard
exporters.
Supplies of wheat in country elevators
and in farmers hands in the three
northwestern states, according to the
best recent private estimates, are
around 100000 bu, or 2S,OOo.O00 bu less
been made for seed requirements, while
based on Fowlers report the three Ca
madam provinces have 100000 blu,
against 46.000,000 blu last year, making
total supplies of spring wheat to come
into sight 100000 bu, or 100000 bu
less than last year.
Corn traders had it that there had
been bulge enough for the moment and
that prices were to work somewhat
lower before the buying side would
prove attractive again. They called at
tention to the fact that the best sellers
Of the past two days were commission
houses which were friendly to the buy
ing side when May was around Csc, and
had materially reduced their lines on
the bulge of the past two days. Pat
traders who keep close watch on condi-
tons said there were large number OF
resting orders to sell May at SIC We'd
nesday and again at 671ac yesterday,
and that number of the big shorts
who were run in on Wednesday had not
replaced their lines, leaving the market
in a weakened condition technically.
The extremely poor demand for the
cash article was disappointing to the
bulls, but they expressed confidence in
the present level of values, and looked
for good buying power to develop on
every setback. believing 1t only mat
ter Of a short time before the east
would be forced to buy.
Milling demand for cash wheat was
fairly brisk at winter wheat markets,
scales at Chicago yesterday aggregat-
ing 5000 blu. st. Louis and Omaha
were nc higher. Kansas City un-
changed to " higher and Milwaukee 1c
higher, the latter being the highest
spring wheat market in the country,
with the exception Of Chicago. Premi-
ums on spring wheat at Minneapolis
were somewhat lower yesterday, blue
stem No. / northern selling at 1a@2c
over May and velvet chaff at May price
to &c over.
While cash corn at Chicago, Peoria
and Kansas City was unchanged to nc
higher yesterday there was nothing to
indicate any improvement in the ship
ping demand. Sales here were $4,000
bu. in addition to 100000 bu in store
to a local industry st. Louis was 1ac
/ higher Omaha unchanged to nc lowe
and Milwaukee unchanged
/ Cash oats were unchanged at Chi
cago yesterday, with shipping sales Of
i $4,000 blu. ST. Louis was 1sc higher.
Omaha Nc higher. Peoria unchanged
to nc higher and Milwaukee unchanged