Timothy was steady to strong. Receipts were lighter at Boston, but there was plenty of hay grading No. 2 and lower, and receivers were still shading prices in order to move this hay and save demurrage charges. The small amount of top grade hay offered was fully equal to buyers' needs. The demand at New York was good, and with moderate offerings the surplus stocks were reduced. No 1 timothy was scarce and commanded the top quotation. Medium and low grades made up the bulk of the receipts.

The Philadelphia market held steady with light offerings of good hay. Only top grades of timothy and light mixed were wanted at Baltimore, and timothy was hard to move at Pittsburgh, even at price concessions. The demand was good at Cincinnati, but prices ruled steady, since most of the good quality cars were located on railroads which are not favored with free switching privileges, and such cars usually sell at a dollar per ton discount. Consumers were more disposed to buy freely, and the undertone of the market was strong.

Timothy sold readily at Chicago and some top grade hay commanded a premium above quotations. Even low grades moved easily at this market on account of the scarcity of hay. The market was steady to firm at St. Louis, and timothy held steady at Minneapolis and St. Paul. About 30 cars of othy arrived at Kansas City, and were largely shipped out to Texas, Louisiana and Arkansas.

Southeastern markets took only a small volume of timothy. Demand continued light, and dealers were cautious not to increase their stocks beyond trade needs. Only the best timothy is wanted. Lower grades must compete with the offerings of local hay. Some poor timothy consigned to Savannah was sold by the railroad companies at prices which in some instances did not pay the charges.

Clover hay was wanted at several markets. No. 1 hay sold readily at Richmond to dairies, and the better grades of clover and heavy clover mixed commanded full quotations at Pittsburgh. The Cincinnati market was unchanged, and the International Live Stock Exposition strengthened the Chicago market, although shippers at this point were cautious about buying for shipment after the close of the exposition.

Alfalfa was firm, with more active demand for hay. Good second cutting alfalfa was in demand at Richmond, and the market was firmer at Memphis. Most of the alfalfa at New Orleans was coming from California. Best quality alfalfa was wanted at Chicago, with ten cars offered.

The market was steady at Omaha, with green dairy alfalfa in fair demand and the local mills taking fair amounts. Icy weather in this territory was expected to reduce country loadings. The demand increased at Kansas City, with dairies competing actively for green dairy hay and mills taking fair amounts. Orders from eastern and southeastern points show a considerable increase and feeders were showing more interest. Alfalfa was steady at Los Angeles and San Francisco with light country takings. Oregon markets were rather unsettled with offerings of rain-damaged hay depressing the market.

The straw market averaged steady. The Boston market was dull, but quotations were unchanged. The demand was slow at Philadelphia, although quotations on oat straw advanced 50¢-$1 per ton. Big baled rye straw was easier at Baltimore, but wheat and oat straw ruled steady on light receipts. Straw of all kinds was in demand at Chicago, and some commission men advanced their bids $1 per ton on Friday, but the demand may slacken after the close of the Livestock Exposition. Rice straw is quoted at $9.50-$11 at New Orleans and at $15.40 per ton at Savannah.

Fruit and Vegetable Review (Continued from p. 374.)

Florida string beans advanced sharply in the East, reaching $7-$7.50 per seven-eights bushel hamper. Cauliflower prices also tended upward, Best Long Island stock brought $2.75$3.25 per crate, and California $1.75-$2.25. New York Golden Self-blanching celery sold slightly higher in several markets, ranging around $2.50-$3.25 per two-thirds crate. The f. o. b. price of $2.20 represented a decline from the week before. First strawberry arrivals of the season were reported in Philadelphia. Express receipts of Florida stock in pony refrigerators were quoted at the unusually high opening price of $3 per quart. Last year's first strawberry receipts sold around $1, with some as high as $1.50. Acreage is expected to be little changed from last season.

Feed

Prices of Most Feeds Higher

Cold and stormy weather in the central and western sections of the United States, together with light offerings of most mill-feeds, placed the feed market in a relatively firmer position during the week December 1-6. Spot offerings of wheat feeds were not large, because of the light output of the mills. Mill-feed shipments from the spring wheat mills were slightly larger than for the previous week, but about 2,000 tons less than for the corresponding week last year. Storage stocks of wheat feeds were reported smaller than at this time last year when storage stocks at castern lake ports were heavier and thousands of tons of western lake port feeds were sent down to Buffalo storage at the close of navigation. Warehouse stocks at Minneapolis, St. Paul, and other western markets were also large. This year, however, comparatively little feed has been sent to eastern ports and less than 5,000 tons are reported held over at western lake ports. Fair warehouse stocks were reported at Minneapolis and in the Chicago district, but the total amount of feed in store is much less than a year ago.

Because of the poor flour demand a number of the soft winter wheat mills have closed down temporarily and others are running at only about 50% of capacity, which has prevented any accumulation of soft winter wheat feeds.

The hard winter wheat mills have also curtailed their production, but offerings have been sufficient for the limited demand. Prices during the week, however, advanced about $2 per ton for bran, while middlings also advanced, maintaining a margin of about $6 per ton over the bran. January bran sold as high as $29 per ton, a premium of about $1 over the spot basis at Kansas City, and for the first time in many weeks southwestern bran was on a shipping basis to eastern points.

Notwithstanding the light offerings of mill-feeds, however, there was not any great improvement in the consuming demand. Mixed-feed manufacturers were rather liberal buyers, but jobbers and retailers apparently hesitated to accumulate any stocks at the present price level.

The high price of corn was reflected in the firmer prices for corn feeds. While gluten feed prices were unchanged from those of the previous week, the principal manufacturers were guaranteeing the price of December shipments against any decline to date of arrival at destination. The wintry weather in the West was reported to be causing many dealers to place orders for quick shipment, as their supplies were low and were not sufficient for the suddenly increased feeding demand.

The demand for hominy feed was in excess of the supply, although buyers were hesitating in paying the present high prices. Jobbers from other markets were inquiring for feed at Philadelphia and other eastern markets, but there were no resellers and prices were held firm. Production is reported as about normal, but there is apparently no accumulation of stocks in any of the larger markets.

The market for linseed and cottonseed meal was relatively less firm than for the other feeds. The large output of linseed meal has prevented any material advance in that feed. The United States flax crop was much larger than last year and the demand for oil has been good, so that oil mills manufacturing linseed meal have been operating to capacity during the past three months. The high price of other feeds has caused a better demand for linseed meal and prices firmed up slightly toward the close of the week. The low point of $43.50 per ton which has been reached three times on the present crop was reached again during the week at Minneapolis, but prices failed to go below this mark, which was considered by dealers to have placed the market in a stronger position.

The increased production of cotton has been a weakening factor in the market for cottonseed meal, but prices for this commodity also advanced during the week because of the strength of other feeds. The demand for cottonseed meal, however, was rather dull at the mills and stocks are increasing. Buyers were cautious and were not buying more than sufficient for their immediate needs.

The alfalfa-meal market was rather inactive. Prices were practically unchanged notwithstanding the strength in the oil market and in the market for competitive feeds. Sales at Kansas City were around $23-$23.50 per ton, with occasional lots selling as high as $24. Mixed-feed manufacturers reported a rather limited demand for alfalfa-molasses feeds.

Millet Seed Prices Higher

Millet seed movement, although not active, was close to normal for the period October 28-November 25. It is estimated that about 35% of the crop had left growers' hands by November 25. Movement this season is ahead of the belated movement last year. In Colorado and Tennessee 60-75% of their respective crops have been sold by growers. In general growers have not been free sellers at prevailing prices which are 25-50¢ per 100 lbs. higher than a month ago and about 50¢ higher than last year on a corresponding date. Seedsmen have shown somewhat more interest in millet seed than last year but have not been particularly active in buying much of the seed offered them.

Tennessee.-Movement of German millet seed in Tennessee has surpassed the movement elsewhere. About 75% of the crop has been sold by growers. On November 25 $3-$4 per 100 lbs., basis clean seed, was being offered to growers.

Kansas. About 30% of the German millet in northeastern and 10% of the Siberian and common millet in northwestern Kansas have left growers' hands. Growers in this State have not been anxious to sell at prevailing prices of $2-$3 per 100 lbs., which are about 50¢ higher than a month ago.

Missouri.-Buyers in Missouri have shown more inclination to buy than growers to sell and prices advanced 25¢ during the month. Mostly $2-$2.50 was offered for German millet. In a few counties 30% or more of the crop had moved but in most counties the movement had not started.

Texas.-Little movement of German millet had occurred in Texas during the month. Prices were mostly $2-$2.50.

During the week December 1-6 cotton prices were steady with fluctuations within narrow limits, final prices, however, were down from 35 to 45 points. On the New York Cotton Exchange December future contracts declined 45 points closing at 22.83¢ as compared with 23.28¢ the previous week and 34.48¢ one year ago. On the New Orleans Cotton Exchange December future contracts declined 39 points, closing at 23.22¢ as compared with 33.67¢ last year. Future trading on the Chicago Board of Trade was inaugurated on December 1, the first month traded in being January, which option on December 6 closed at 23.02¢ as compared with the price for the same month on the New York Cotton Exchange of 22.95¢ and on the New Orleans Cotton Exchange of 23.16¢. Reports indicated that the volume of cotton contracts traded in at Chicago was quite sizable.

The average price for Middling spot cotton in 10 designated spot markets declined 34 points during the week, closing at 22.92¢ per lb. as compared with 23.26¢ last week and 33.62¢ last year.

Spot transactions in 10 designated spot markets for the week amounted to 161,454 bales as compared with 80,457 one year ago.

A good inquiry for spot cotton was reported in certain districts but at figures lower than holders were willing to accept. Many reports from manufacturing centers indicated increased operations from both domestic and foreign textile centers.

The export movement continued heavy and total exports so far this season are now about 775,000 bales ahead of the corresponding period last year and nearly 1,000,000 bales ahead of 1922. The larger figure for this year is primarily due to the increased takings of Great Britain and Germany.

Closing Future Prices on the Future Exchanges

December 6, 1924, with Comparisons

5-year aver

5-year

aver

Market

1923

Ang. 1- Aug. 1- Aug. 1- age, Dec. 8, Dec. 7, Dec. 5, Aug.11922 1924 Dec. 7,

19191923

1923

spinners' World's visible supply

1, 109 1,213 1,005

609

1,072 1,010 827

675

904

74.7

Cts. Cts. Cts. Cts. Cts. Cts. Cts. Cts. Cts. Cts. Cis. Cts. 122. 88 23. 31 23. 31 23. 25 23, 25 23. 25 35. 0035. 00 34. 00 33. 75 34. 13 33. 25 22. 75 23. 00 23. 13 23. 00 23. 00 23. 00 35. 00:34. 88 34. 00 33. 88 34. 13.33. 38 23.00 23. 25 23. 34 23. 25 23. 19 23, 19 35. 20 35. 00 34. 00 33. 75 34. 15 34. 00 22.00 22. 30,22. 38 22. 25 22. 25 22. 25 34. 75 34. 63 33. 75 33. 50 33. 75 33, 25 23.00 23. 25 23. 25 23. 20 23. 15 23. 15 35. 75 35. 38 35. 00 34. 50 34. 50 34. 25 23. 25 23. 25 23. 25 23. 25 23. 25 23. 25 35, 50 35. 50 35. 00 35. 00 34. 75,34, 25 22. 50 22. 75 23. 00 23. 00 23. 00 23. 00 35. 00 35. 00 34. 50 34. 25 34. 25 33. 75 21.95 22 25 22. 25 22. 15 22. 15 22. 15 34. 80 34. 50 33. 45133. 20 33. 65 32,80 22. 80,23. 10 23. 10:23. 00 23. 00 23. 00 35. 40 35. 25 34. 25 34. 05 34. 45 33.60 22. 80 23. 10 23. 15 23. 00 23. 00 23. 00 35. 40 35. 30 34. 30,34. 10 34. 40,33.65

Average... 22. 69 22. 96 23. 02 22. 94 22. 92 22, 92/35. 18,35. 04 34. 23,34. 00 34. 22 33. 62

Total....4, 347, 926 2, 422, 7062, 433, 71722, 658, 469 33, 430, 1752, 362, 134 145.2

1 Exports to Canada are for the period Aug. 1 to Oct. 31. 2 None to Russia.

Includes 53,295 bales to Russia.

Exports for the week ending December 5, amounted to 350,015 bales, compared with 275,616 bales for the corresponding week in 1923 and 287,963 bales for the week ending December 5, 1913.

China..

57,872

5,300

14,325

13, 690

20, 029

68.4

Spain...

130, 314

135, 938

155, 177

103, 861

122, 718

130, 560

91.0

Belgium.

85,683

Exports of American and Canadien Apples to November 15

Foreign Crops and Markets

Strong New Zealand Wool Market

Wool sales at Christ Church, New Zealand, on Saturday, November 29, were characterized by keen competition and high prices, according to a cabled report from Vice Consul J. C. Hudson, at Wellington. Over 11,000 bales were offered and practically all sold. The offering, the bulk of which was halfbred with a fair showing of plains crossbred, was generally well grown and sound. A large proportion, particularly from the plains, was dusty. Bradford secured practically two-thirds of the offering. The United States and local mills took the bulk of the balance, with only occasional lots going to continental buyers. Prices were as follows: Merino, 27 to 38 pence (52.1 to 73.3 cents); half-bred, 28 to 42 pence (54.0 to 81.1 cents); Corriedale, 30 to 41 pence (57.9 to 79.1 cents); three-quarter bred, 22 to 34 pence (42.5 to 65.6 cents); medium crossbred 22 to 30 pence (42.5 to 57.9 cents); coarse crossbred, 12 to 24 pence (23.2 to 46.3 cents); crutchings, 11 to 23 pence (21.2 to 44.4 cents).

American Apples in International Trade

The foreign market situation for American and Canadian apples during the 1924-25 season seems to be encouraging even though total shipments from the beginning of the season to November 15 amounted to only 2,120,000 barrels, as compared with 2,170,000 barrels during the corresponding period last year, boxes having been converted to their barreled equivalent. Improved economic conditions in European markets, together with reduced production in the United States and Canada, and a crop of poor quality in Europe, are reflected in the general price level that has been maintained by American apples in the United Kingdom since the opening of the season.

Approximately 86 per cent of the 1924-25 shipments have gone to the United Kingdom. The Scandinavian countries, however, have also been on the market for considerable quantities of both American and Canadian apples. In addition to direct shipments to Scandinavia of 49,000 barrels and 128,000 boxes a considerable volume of indirect trade was carried on by means of which American and Canadian apples arrived at Scandinavian and other continental markets through transshipments from British ports, particularly from Hull.

Germany and South America have been in the market for increasing quantities of apples this season. Total exports of American and Canadian apples to Germany from August 23 to November 15, the first 12 weeks of the 1924-25 shipping season, amounted to 29,000 barrels and 117,000 boxes. Shipments to South American markets during this period amounted to 37,000 barrels and 121,000 boxes. There were practically no shipments to Germany and South America during the first months of the 1923-24 season. American and Canadian apples are likewise finding a good market in the Netherlands this season. Rotterdam, Hamburg, Bremen, Christiania, Gotheburg, and Copenhagen are the leading apple importing ports of the Continent. Liverpool, London, Glasgow, Manchester, and Southampton lead in the United Kingdom, and provided the chief foreign markets during the last two seasons. Most of the shipments to other British ports went to Hull, from whence considerable quantities were later transshipped to the Continent. The commercial apple crop in Canada for 1924 is 30 per cent lower than last year, while the commercial crop of the United States is only 10 per cent short. An increased demand in Europe for high-grade fruit, therefore, will be more easily supplied from the United States than from Canada. As in domestic markets, the increasing foreign trade can be encouraged by careful timing of shipments and the maintenance of quality and condition of the product.

The following tables compiled from the weekly reports of the International Apple Shippers' Association give the exports of apples from the United States and Canada from the beginning of the present season to November 15, as against exports in the corresponding period of the previous season, and total exports for the season 1922-23 and 1923-24.