TIMOTHY LOWER IN EAST.
Timothy.—Notwithstanding the light receipts, prices declined $1.50–$2.50 per ton on No. 1 timothy hay at New York and Boston during the week. Very little good hay was offered and the poorer grades were not wanted. Buyers appeared to prefer to await larger receipts of new hay. The few cars of new hay arriving were mostly No. 3 or lower and some were heating. Light receipts caused firm prices most of the week at Philadelphia and good old hay was in demand at Pittsburgh. New hay, most of which graded No. 2, sold at $5 discount under old No. 1 prices at the latter market.
Good quality old hay and new cool, sweet hay sold readily at Chicago, but the poorer grades, of which there was an oversupply, sold at heavy discounts. Southside yards were congested with off-grade hay. Nearly all the new hay was reported to be overripe and of poor color. Many cars were heating, also.
The timothy market developed an easier tone at both Cincinnati and St. Louis. The local demand was limited and prices were said to be too high to stimulate a shipping demand to the South and Southeast. There was, however, very little inquiry from the southern markets, as Johnson grass and other local hays were on the market in good supply.