The weekly Iberian., 1921-04-23
The Markets


u points closing at l1.76c
Grain-Market uncertain the first
/ part of week, but on the 1fth prices
started on drastic downward trend
that continued until the 14th Reports
exporters reselling wheat, large coun-
try offerings, economic situation in
| Guiding British strike, and efforts in
Canada TO rush wheat into United
States in anticipation of proposed tar
lfr Dill were the principal bearish fac
tors. After reachinsf new low points
on the lAth the market rallied sharply
on persistent buying by commission
houses and local trade, but news con
| tinued bearish and the advance was
subsequently lost. Financial situation
indicates heavy marketing of new
grain soon as threshed to meet obliga-
tions. Crop reports excellent; good
rains in west No wheat export de-
mand despite the fact Argentine wheat
was quoted lac to 16c higher than
American via gulf. Exporters seek
cash corn; seaboard reports fair
amount sold for export In Chicago
cash market No. 2 red winter wheat
1924 7-8; No hard 81 33 49, No. 3
mixed corn 50 5-S cents; No. 3 yellow
5412c. For the week Chicago May
wheat down 14Ac at $1.21 3-S. May
corn sc at SO 3-8. Minneapolis May
wheat down 14Ac at S114 SIS; Kansas
City market 151ac at $112Ac; Winni-
peg May 1514c at $149&.
Hay-Market generally steady, but
very quiet and no life to demand. Kan
4
lower grades practically unsaleable.
Receipts sufficient to meet demand,
which is largely local Shipping in
quiry light in most sections Tract
offerings at Cincinnati liberal; ter
minal stocks materially reduced. New
York market weak; transactions small
Minneapolis market firm on light re-
oeipts Chicago trade not readily alb
sorbing arrivals; market 81 lower. AL
falfa very weak at San Francisco on
reports of early cuttings. Consign-
ments from Imperial Valley and Ari-
zona points affecting Los Angeles
prices and weakness is reflected
throughout upper California Quoted:
No. timothy, $3.50 New York, $50
Atlanta, $24.50 Philadelphia, $3.50
oils; No. 2 timothy, $3.50 New York,
$205o Cincinnati, $3.50 Philadelphia,
$24 Memphis, $3.50 Minneapolis; No.
1 alfalfa, 1872 Atlanta, SIT Cincinnati,
s27 Memphis, 500 Minneapolis, 500
Kansas City; No. 1 prairie, SIS Min
neapolis, SIS Kansas City.
Feed-Markets weak; trade buying
sparingly. Decline in coarse grains
is affecting demand for mill feeds.
Ideal weather conditions in Mime
sofa, Northern Wisconsin and North
western States permit of outside feed
ing and little linseed meal is boought,
causing price to decline. Hominy feed
soft on lower prices. Cotton seed
meal stronger on export inquiry. De-
mand for gluten feed light at late re-
duction Stocks generally ample, re-
ceipts good, offering heavy. San Fran
cisco reports movement of alfalfa
meal and cocoanut meal for coastway
shipment small. Drop in beet pulp
created a slightly better demand
Quoted: Reground oatfeed $l1.25
Northeastern markets; white hominy
feed 500; No. alfalfa meal $21 at st.
Louis; linseed meal $3.50 at Buffalo,
$37 at Minneapolis bran $3.50; mid
dlings $1450 at Minneapolis; SO per
cent cotton seed meal $23 at Memphis;
gluten feed $31, flour middlings $23,
red dog $2S at Chicago.
Fruits and VegetabIes-Potato mar
kets slightly weaker at Northern ship
ping points, closing 75@85c per 100
lbs. Carlot market in Chicago firm
at 9Oc to 81 sacked New York round
whites down 15c lower in New York
City at s1.25@1.3O bulk. Florida No.
1 spauldings rose in double head bar
rels declined $1.25@1.75 per bbl. in
Chicago, closing around $8.25; up $1.50
per barrel in New York, closing at
$7.50@80O Texas sacked Bliss
Triumphs showed further loss of 81
per 100 lbs in Kansas City, closing
around $3.50. Movement of white po-
ing week.
Live Stock and Meats-Chicago live
stock prices were generally lower the
past week. Hogs led the downward
movement with declines ranging from
45G6Oc per 100 lbs. Beef steers aver
a>sd Csc lower with butcher cows and
heifers generally steady; feeder steers
practically unchanged; fat lambs
steady to 25c lower; feeder lambs soc
lower; yearlings and fat ewes steady.
April ii Chicago prices: Hogs, bulk
of sales $79069.00; medium and good
beef steers $7.50@e75; butcher cows
and heifers $45o@900 feeder steers
$7.00@850; light and medium weight
veal calves $6.50@9oO; fat lambs 81 so
$1,000; feeding lambs $6.5O0775;
yearlings $725@9.00; fat ewes $500
06.75. Stocker and feeder shipments
from II important markets during the
week ending April were: Cattle and
calves 38,269; hogs 1865; sheep 1852.
Eastern wholesale fresh meat prices
showed mixed advances and declines.
Beef and lamb about steady; veal
ranged from 81 lower at some markets
to SO higher at Others mutton from
So lower to 81 higher; pork loins from
81 lower to 81 higher, depending upon
the market. April IA prices good
grade meats: Beef $1550@17.50; veal
1920; lambs 1922 mutton $4,000
1900: light pork loins $2600@29.00;
heavy loins s19.00@23.00.
Dairy Products - Butter markets
steady the past week. Supplies have
Just about taken care of demand, but
any surplus of shortage would effect
present prices, as markets are very
sensitive. Buyers willing to purchase
at current asking prices, but for only
immediate requirements. Current re-
ceipts beginning to show evidence of