Agriculture -- United States -- Statistics -- Periodicals; Farm produce -- Marketing -- Statistics -- Periodicals
=The cleaning=, if any, that the average farmer gives his seed merely
removes dirt, chaff, and weed and other foreign seeds that are much
larger or smaller or much heavier or lighter than the kind of seed that
is being cleaned.
_Cotton_
PRICES OF SPOTS AND FUTURES CONTINUE TO ADVANCE.
Condition of Crop Poorest on Record--Production Estimated at Only
6,537,000 Bales.
Perhaps the main feature in the cotton markets for the week ending Oct.
1 was the sensational advance in prices which occurred on Sept. 27. That
day was the first day for the issuance of notices of deliveries to be
made on October future contracts at the two future exchanges and it is
reported that the notices issued were for more than 80,000 bales at New
York and over 20,000 bales at New Orleans. However, in spite of these
notices of heavy deliveries, the demand for October contracts during the
day was such that the price at New York rose 1³⁄₄¢ per lb. and at New
Orleans nearly 1¹⁄₂¢ over the low point reached early in the morning.
The closing prices for October future contracts for that day were 21.03¢
at New York and 20.70¢ at New Orleans, or 143 points and 135 points,
respectively, above the closing prices of the previous Saturday. The
average price of middling in the 10 designated markets reached 20.89¢
per lb. on Sept. 27, or very nearly $5 per bale higher than at the close
of the previous week.
TRADE APPREHENSIVE.
Only the better grades of cotton are deliverable on future contracts so
that probably one of the main causes of the keen demand for October
contracts was the apprehension that the present crop will not only be
the smallest for many years but that it will also be of low grade, as is
indicated by reports from some sections.
During the remainder of the week prices eased off somewhat under heavy
hedge selling and liquidation by long interests, but indications were
that the demand for future contracts, as well as for spot cotton during
the entire week, was fully equal to the offerings. The end of the week
found prices higher than those prevailing at the close of the previous
week except for the prices for the more distant months, which were a few
points lower.
The average price of Middling as determined from the quotations of the
10 designated spot markets closed at 20.71¢ per lb. on Oct. 1, compared
with 19.92¢ at the close of the previous week and 23.11¢ for the
corresponding day in 1920.
Fluctuations in prices for futures ranged from a decline of 27 points
for July future contracts at New York to an advance of 88 points for
October futures in the same market. October futures on the New Orleans
Cotton Exchange advanced 70 points. October future contracts on the
Liverpool Cotton Association closed at 14.68d. per lb. on Sept. 30,
compared with 14.16d. at the close of the previous week and 17.23d. for
the corresponding day in 1920.
SPOT SALES LARGER.
Public-domain text, read in full here on John Shaqi.
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