Evening star., 1933-08-06
Commodity Price
Changes for Week
BY III. n. McGHI.
Editor McGiu Commodity Service. Inc.
AUBURNDALE, Mass, August "a

Editor. McGill Commodity Service. Inc.
AUBURNDALE, Mass, August CP).
The price index for all commodities
declined during the past week. Since
the latter part Of July commodity prices
have failed to maintain the upward
momentum that featured the months OF
May, June and the first three weeks of
July. The magnitude of the reaction
has proven limited and as the first week
in August closed, prices were moving
irregularly, not far from the extreme
top which measured 80 per cent over
the low last February. During the week
just closed out of IA individual commod-
ity groups. Z registered decline, only
3 advanced and 4 remain unchanged.
Industrial prices represented one OF
the four groups that showed no change
from the previous week. Advance in
fuels and hides and leather were coun-
teracted by declines in non-fefrous
metals and paint materials. Industrial
commodities which in recent months
have responded in full measure to in
speculative and protective buying, are
now more sensitive to underlying funda-
mental conditions. The point is that
in many instances manufacturers, whole
salers and retailers have replenished
stocks Of raw materials and finished
goods Now it Is a question Of moving
merchandise into ultimate consuming
channels.
Farm Prices Decline.
Agricultural prices declined during
the week. This was Que to lower quota
tions as compared with week ago for
such items as wheat. corn, oats, barley,
rye, cotton. butter and eggs, rice and
faxseed. The maximum Of price in
creases and decreases in speculative
commodities is now regulated and the
next month will determine just how
successful the farm relief bill will be
in accomplishing reduced production
under the provisions of that bill. Crop
deterioration has proven the worst on
modern records during the growing sea-
son but a careful inspection of total
production of feeds and foodstuffs, cou-
pied with the carryover. constituted an
aggregate supply that is not far out Of
alignment with normal and fully ade-
quate to cope with indicated consunp-
ton.
Live stock quotations averaged lower
for the week. Hogs, cattle and sheep
declined.
Building materials which in recent
weeks have forged upward at a rapid
pace under the leadership of lumber,
failed to register a gain during the past
week
Non-ferrous metals registered very
slight decline due to lower quotations
for silver and tin, while ferrous metals
recorded no change.
Fine Textiles Also on.
Fine textiles declined. This de-
cline would have been much greater
were it not for the advance that occur
red in finished goods Cotton and silk
declined while wool remains unchanged.
Yarns and finished goods rejecting the
process tax and textile code, were ad-
vanced sharply which softened the re-
action noted in the raw materials.
Coarse textiles also averaged lower
during the week.
Vegetable oils recorded a substantial
decline as the advance in cocoanut oil
was counteracted by the price weakness
in China wood, cottonseed and linseed
oils
Most important price changes in the
McGill weekly price index Q926 equal
ing 10C) were as follows: