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Weekly Market Review

Weekly Market Review image
Parent Issue
Day
18
Month
June
Year
1875
Copyright
Public Domain
OCR Text

OevertU Heavy luiiuian ui. uiDiwiuuuo iwm.u are noted in England the fore part of the present week. The Mark Lane Express, in its review of the erop prospecta in Europe, speaks of the insufficiency of rain in (xreat Britain, and that in France the light lands must yield but poorly, and that the best cannot be so plentiful as in 1874. It coneludes therefore that "low rates will be but of short duratiou, more especially as meat is still likely to be dearer than cheaper." Eastern Vlarkett. The week has been an encouraging one for both wheat and corn, quotations of wheat in New York are : Wheat, red western, $1 30 a il 36; amber, $1 37 a 1 40; white,! 1 35 $1 40. Corn, mixed western, 86c a 87c. This strong ruling of the markets just before harvest is a most favorable symptom. Detroit Markets. The state of the wheat inarket has been equally favorable with that at the East, although the advance is not quite as much. Extra white a week ago stood at $1 24, and has sold as high as Jl 27 1-2; No. 1 bas advanced trom tl 23 to 1 26 ; amber from (1 21 to f 1 22 1-2. Nothing worthy of note in other grains. Butter is in fuller supply and lower, at 19 a 20c for choice. Cheese also lower at about 1 Ie for State factory. Dried fruit lower and nominal at 7 l-2c for apples and 18 a 20c for peaches. Bggs stronger, chiefly at 16c, but some selling as high as 16c. Thb Wool Market. - Eastern reports are very cautious in regard to wool, with a manifest disposition to deprecíate prices. Boston reports some transactions in California wooi. Kentucky corabiug wools are held in Boston at 50c, with 46a47 about the highest price offered, while for all grades, manufacturera and dealers hesitate to buy at the prices asked. Philadelphia reports fine grades easier, and mediums and coarse steady, the new clip arriving freely. The U. S. Economist, of New York, says that the market continúes very quiet, yet prices show much steadiness everywhera, notwithstanding the stagnation and long continued depression amoug the woolen goods trade. The Economist reports what it has before said about wools being relatively higher at the points of production than in the large markets. It uoteè sales of oíd Michigan at 51c. and says that Australian wools have advanced in London l-2ald. In Michigan the market for the new clip has opened moderately at all -poiuts. The range of prices is 35c a40c, the general average being about 38, with some lots of choice as high as 43a45. There seems a less number of buyers in the market than usual, and certain dealers seem disposed to keep as much in the background as possible. It is the almost uniform history of the wool market to advance slightly from opening rates, au d there is no appareut reason why it should not do so the present season. Fortuuately for the farmers of Miïhigan, most of them can afiord to wait if manufacturera can, as prices are not likely to be lower.

Article

Subjects
Old News
Michigan Argus