Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-14
Commodity Price
Trends of Week
ny H. n. McGILL.
,GnI Commodity seryicI

Editor McGtH COMMONLY service.
AUBURNDALE, Mass, September IS
P).-The level of commodity prices for
the third consecutive week registered q
moderate upturn. The limited advance
during the week just closed was entirely
due to a moderate price recovery in live
stock and a further favorable gain in
the agricultural group. Fuels are also
slightly higher. Price changes in other
groups took place within a narrow
range, although the majority declined.
Out Of Is individual commodity in
dices eight we're lower, four higher and
three unchanged.
There are definite signs that the
bearish attitude regarding business and
prices, which in recent months have
dominated every section of the coun-
try is changing More sterilization in
commodity prices and an actual move
ment toward slightly higher level has
done much to create confidence. 1t is
becoming more and more apparent that
many basic commodities which have
been forced down to and even below
pre-war price levels are on the bargain
counter and offer a definite buying OPP
portunity. Business activity is begin
ming to pick up and production sched-
ules, recently cut to a new low, are
being revised because of the critically
low volume of finished goods in dis
tributorS' hands. Buying moves in
cycles the same as business, stocks,
bonds and real estate. Hand-to-mouth
buying has dominated practically every
industry during this period OF falling
prices. 1t is long-proved fact that
consumers will not buy on a declining
market, but will buy on a rising market
These are now well above the August
low. This movement is not heralded as
the beginning of radical advance, for
leading economists agree that the under
lying trend Of commodity prices is still
downward The current upturn is a
temporary interruption in the long
swing movement which promises to
carry during the Fall period with the
seasonal upturn in industrial activity.
Industrial Prices.
A new low was reached chiefly due to
a substantial decline in lumber and the
building material group. moderate de-
cline in hides and leather, a further
break in .non-ferrous metals, and lower
quotations in paint materials, textiles
both fine and coarse, and vegetable oils.
Agricultural Prices.
Now comparable with late August,
agricultural prices are higher than the
first of the month. While there is a
limited supply of feedstuffs, there Is
every assurance of ample world supplies.
WOTIQ wheat output Is nearly per CcIlJ
ahead Of a year ago. The Canadian
wheat pool has failed to accomplish its
objective. There is a serious malad-
justment of grain prices which must be
corrected.
Building Material Prices.
A new low was reached, due chiefly
to a further break in the price If um-
Der. Building this year is a continue
tion of the downward trend since 1928,
with residential building critically low.
Residential real estate is a drug on the
market and this type of building is not
subject to any near-term improvement.
Miscellaneous Groups.
With linsaed oil sharply lower, vege-
table oils reached a new low. A new
low was also established in fine and
coarse textiles. cotton proving weak
following the publication of the Gov
eminent crop report of nearly l4,500,-
008 bales. Non-ferrous metals broke
into new low ground and this was also
true of paint materials.