Evening star., 1948-02-14
|GraiinsAdvance
|FewCents, Stock
Trading Slow
Soybeons Drop Limit;
Retail Prices of
Soop and Flakes Cut

Wheat, corn and oats all ad-
vanced a few cents on the COM
modify markets today-the first
time they have all done so since
the big break 10 days ago-but
the weeks decline brought lower
retail prices to weekend shop
pers in stores here and elsewhere
in the Nation.
Soap and soap flake prices Joined
the downswing in retail stores today.
The stock market was In the
doldrums, with dealings among the
slowest of the past several months.
A few stocks edged upward but
many market leaders changed little
or not at all.
The bond market barely stirred
with trading unusually quieter even
for weekend session.
Soybeans Drop Limit.
On the commodity exchanges soy
beans we're the exception--they
dropped the daily limit of 8 cents
at the start Cotton closed S2.l5
to $2.75 bale higher than yesterday.
The livestock market moved slow
ly to end week which saw all prices
suffer the sharpest break OF the
year, with the biggest drop last
Monday.
On the commodity exchanges,
wheat started Is to 5A cents O
bushel higher while corn was up
from ~ to Ga cents a bushel.
Oats also was up.
Two chains were selling nation
ally advertised brands of soap flakes
at 36 cents large package.
down cents. following wholesale
price cuts by leading soap pro-
ducers. Some bar soap also was cut.
Butter was down and cents
here, likewise rejecting a break in
wholesale prices. and one chain cut
margarine prices another 2 cents
today.
Commodity Markets Erratic.
The new price cuts followed yes
terday's erratic day on the COM
modify markets with jittery prices
bouncing around so violently that
quotation clerks had a hard time
keeping up with the changes. May
wheat, market bellwether, was
down S cents.
What appeared to be happening
in Washington was that the re-
tailers, instead of waiting the nor
NAL period of several days before
rejecting lower wholesale prices,
we're cutting them at once. Although
the goods were bought at the old
and higher wholesale prices, retail
ers appeared to be figuring that
the public was in a lower price
mood and grateful shoppers might
well become steady customers after
prices stop fiuctuating.
Chain Cuts Flour Again.
Today's lower prices included a
further cut in flour at one chain
where a 10-pound sack now sells
for 83 cents. 1t has declined stead
lily as the wheat market has dropped,
from ST .05 to 96 cents to 95 to IS and
now to SO cents. This chain also
SoC oIlOl VCIAlll6 HAlCCc 4A0iiA ~A"So w
$l.19 for 3-pound can.
Yesterdays drop in May corn
brought the total decline since the
January IS peak to 1871 cents
bushel while May wheat closed yes
terday 741a cents under the January
| 16 high.
The Chicago livestock market
changes little but economists con-
tinue to warn that there Is meat
shortage ahead. Despite some dips
in meat prices, it is pointed out that
an all-time high of 36,000,000 head
of cattle we're slaughtered last year
to give each American about 10
pounds of beef, on the average. This
year the estimate is that about
80 ,000, 900 head will go to market,
or about IS pounds per capita.
| January's high meat prices
brought a large number of cattle
into the market, while the then
high price of corn also led farmers
(See PRICES, Page A-2D