Page images
PDF
EPUB
[blocks in formation]

stocks of a few varieties. The short crop and high price of cowpeas is causing much speculation as to the extent soy beans may be substituted for that crop and this may draw more or less heavily on the seed soybean supply.

Prices made healthy advances during the past month in all producing sections. Present prices range $4.90 $5.50 per 100 lbs., thresher run, in Virginia, Maryland, and Delaware, principally for the Virginia and Wilson varieties; $3.80 to $4.10 for Mammoth Yellows in North Carolina, South Carolina, and Tennessee; $2.75 to $3.00 for Midwest, Manchu, and other varieties in Illinois, Indiana, and Ohio; and $3.10 for Morse and other varieties in Missouri.

Soy-bean Prices and Movement by States

[blocks in formation]
[blocks in formation]
[blocks in formation]
[blocks in formation]
[blocks in formation]
[blocks in formation]
[blocks in formation]
[blocks in formation]

Kansas City.

16, 199

84.0

701

30, 1

6, 804

88.3

Oklahoma City.

[blocks in formation]

Omaha.

[blocks in formation]

St. Joseph.

[blocks in formation]

2, 013

[blocks in formation]

40

St. Paul.

[blocks in formation]

Virginia.

[blocks in formation]
[blocks in formation]

North Carolina.

[blocks in formation]
[blocks in formation]

Wichita

6,389

193.8

[blocks in formation]

5

[blocks in formation]
[ocr errors][subsumed][merged small][subsumed][merged small][merged small][merged small][merged small][merged small][merged small]

Illinois.

47.4 95.2 8,996 77.3 1,485

235

81.9

6, 149

103.9

117.1

2,798

42.7

[blocks in formation]

Cowpea Prices Go Still Higher

In

The small crop of cowpeas moved from growers' hands at a normal rate during the four weeks ending December 16, according to reports to the U. S. Department of Agriculture. many sections, however, a smaller percentage of the crop had been sold up to that time than on a corresponding date last year. This is particularly true in Delaware, where only 20% has been sold compared with 60% a year ago, and to a less extent in Georgia and Indiana. A somewhat larger percentage is reported sold in North Carolina, Tennessee, Mississippi, Alabama, and Missouri than up to this time last year.

Local buyers have been unusually active bidders and prices to growers have advanced steadily. Many wholesale dealers also are showing an active interest and are laying in at least a part of their next season's requirements. The advancing prices stimulated sales in many instances but they have also tended to encourage growers, who are in position to do so, to hold for still higher prices. The opinion is current among growers that prices of cowpeas are not high compared to other forage crop seeds although they are the highest for this season of the year since 1920.

Prices advanced 35 to $1.20 per 100 lbs. during the period November 20-December 16 in the several producing sections. In Virginia and Delaware present average prices are $5.60 and $5.95 per 100 lbs. thresher-run, respectively. Prices are lowest in Missouri, mostly $3.75. In Indiana and Illinois and the Cotton States the range is $4.30 to $4.75.

[blocks in formation]
[blocks in formation]
[ocr errors]

10

20

5

10

20

35

25

15

25

40

30

50

15

5

20

15

5

20

30

[blocks in formation]
[blocks in formation]

previous periods..

Soybean Movement Slightly Above Normal

The movement of soybeans up to December 16 was above normal in practically all producing sections except Delaware according to reports received by the U. S. Department of Agriculture. In North Carolina, growers generally are satisfied with prevailing prices of $3.80 per 100 lbs., and are selling their soybeans freely. It is estimated that 40% of the crop in that State had been sold by growers up to December 16 compared with only 15% up to a corresponding date the past two years.

Movement in the Corn Belt is equal to or slightly heavier than the past two years. Prices are fairly satisfactory but not sufficiently attractive, in view of the high price of corn, to encourage selling.

On the whole there appears to be ample supplies of seed quality soybeans, although there may be smaller than normal

[blocks in formation]

Fruits and Vegetables

Southern Sweet Potatoes in Firm Position

Any stimulus which Christmas trading may have given the wholesale markets during the third week of December was largely offset by the arrival of extremely low temperatures. Severe weather was reported in the North and West, gradually extending East. Shipments of apples and cabbage dropped to about half the previous week's total; potatoes and citrus fruits showed a 30% decrease. The net decrease of 3,700 left the week's shipments of 17 products 9,260 cars. Principal price features were the firm to higher levels for apples and southern sweet potatoes and the irregular prices on onions and cabbage. Sweet potatoes. As a result of the light crop of sweet potatoes in the South, wholesale prices of southern stock have been higher than last year and carlot movement has been stimulated. In North Carolina, Tennessee, Arkansas, Oklahoma, and the seven other States directly south of them, this year's combined production is estimated around 55,000,000 bushels, compared with 80,000,000 last season, nearly 89,000,000 in 1922, and 83,000,000 in 1921. Final December estimate of the total sweet-potato crop is 71,861,000 bushels, a reduction of about four millions from the preliminary estimate in November. The 1923 crop was 97,177,000 bushels. Southern States have only 76% of the total production this season, as against the usual 80% to 85%. Nevertheless, combined shipments to date from that territory have exceeded 2,500 cars, or 300 more than last season's record to the same time, thereby showing the stronger demand in consuming markets. South Carolina, Mississippi, Oklahoma, and Texas have shipped fewer cars than last fall, but the other southern sections made substantial gains. Alabama, with a crop only half as heavy as in 1923, has forwarded 63% more cars so far this season, and a similar situation exists in Louisiana.

Aggregate movement from eastern, central, and western districts is only 700 cars short, for the combined crop in those regions is but little less than last year. The lighter output of Virginia, Maryland, Delaware, and California is partly offset by heavier shipments from New Jersey. Total shipments for the United States to December 20 were 10,760 cars-only 400 behind last autumn's movement. By this time last year, 80% of the entire season's shipments had been completed, for the 1923-24 output was limited to less than 14,000 cars. The preceding season 21,570 cars were marketed from the heavy crop of 1922, and movement was only 63% completed by midDecember.

Although a number of important markets had weakened slightly, Tennessee and Arkansas Nancy Halls closed at $2-$2.50 per bushel hamper, compared with $1.50-$2.25 the year before and around $1 in December, 1922. Atlanta dealers were quoting Georgia Porto Ricans at $2-$2.25, sacked per 100 pounds, and last reports from Texas markets showed southwestern stock One car of best Virginia yellow ranging considerably above $4. sweet potatoes sold at $6 a barrel in New York City, with yams bringing $4.50-$5 in the East. New Jersey yellows weakened to a level of $2.50-$3 per hamper, and other eastern stock brought mostly $1.75-$2.25. As usual, eastern States were the chief source of current supply; that region furnished twothirds of the week's 350 cars.

With 75 cars of lettuce already rolled from the Imperial Valley of California, movement is well begun from the 20,000 acres which are reported unofficially in that section. Though Florida's crop has been moving for some time, the season's total to date is 200 cars less than a year ago. Acreage in the Sanford section was decreased about a third, but 200 acres of escarole were put out. The Winter Garden lettuce area likely will be about the same as in 1923-24, and Manatee County growers report 800 acres, with heaviest shipments expected in January. Advices from Cameron County, Texas, indicate 400 acres of lettuce there, a decrease from last season. Arizona has been shipping actively from 4,000 acres of winter lettuce, and last week forwarded 120 cars, ranking next to Florida and southern California. Recent slacking of movement from the Los Angeles district and Florida reduced the daily average output to less than 100 cars. Most markets declined. Closing range on western Iceberg-type was $2.50-$3.25 per crate, while Florida Big Boston-type sold to eastern jobbers at $1.25-$1.50 per 11⁄2-bushel hamper. Some stock brought only $1 a hamper in New York City, but Boston quoted around $2 on Florida lettuce in crates of 2 dozen heads.

Potatoes. Prices of potatoes were not affected by the net increase of 660,000 bushels in final estimate of the 1924 crop, as compared with the November report. Revisions were made for some of the early States, and the increase for Maine was 2,700,000 bushels, for Ohio 1,000,000, and for Colorado 500,000. All the gains, however, were nearly balanced by decreases of 4,000,000 bushels in Minnesota, 2,000,000 in North Dakota, and 600,000 to 800,000 each in Wisconsin, South Dakota, and Nebraska. This correction of Minnesota's report leaves New York the leading State, with a crop of 46,620,000 bushels. Total shipments for the week were only 2,300 cars, compared with 3,450 the preceding week and 2,735 the same period a year ago. The season's movement from leading late-potato States was still 14,000 short of last autumn's total. F. o. b. range on bulk Green Mountains in Maine declined to 50-556 per 100 pounds, while sacked round whites brought 85e at western New York points. Cold weather interfered with trading in the North Central region and the far West. Idaho reported 30° below zero. In terminal markets New York round whites sold mostly at $1-$1.25, with Maine Green Mountains about 25¢ above that level. Northern round whites ruled around $1

in the Chicago car-lot market.

Apples. The estimate of commercial apple production is increased 1,500,000 barrels by the December report, which totals 28,701,000 barrels. West Virginia shows a decrease of 240,000 barrels since November. Washington has gained the equivalent of nearly 1,000,000 barrels and Oregon 400,000, while Virginia and Illinois registered increases of 230,000 and 115,000 barrels, respectively. Market prices were generally firm during the week. Best New York Baldwins ranged $5.50-$6.50 per barrel in consuming centers and Rhode Island Greenings strengthened to $6-$7, with McIntosh as high as $9-$9.50. Midwestern Jonathans continued to bring $7.50$9, and a few sales of Winesaps were quoted at $7-$8. Northwestern Extra Fancy Romes were steady around $2.50-$3.25 per box. Delicious still ranged $4-$4.50. In various districts of Washington, f. o. b. prices tended upward. Winesaps were quoted at $2.50-$2.65 in Yakima, including storage charges, and some Fancy Yellow Newtowns brought $2 in the Hood River district. Western States forwarded 570 cars less and barrel States 270 less than the preceding week. Virginia and Illinois decreased their forwardings of barreled apples, while Washington and Oregon represented most of the loss in movement of boxed stock.

Cabbage. Final production estimate of this season's Danishtype cabbage is 31,200 tons greater than the 1923 crop, while Domestic-type shows an increase of 40,000 tons. New York Danish sold at irregular ranges during the week. Several markets reported slight declines, but Pittsburgh and Cincinnati prices were higher. Prevailing range was $15-$20, with top of $25 in Cincinnati. Northern Danish declined in the Middle West to $18-$25. Southwestern markets quoted Texas Domestic flat type at $3-$3.50 bulk per 100 pounds. Florida Wakefield weakened slightly in the East, closing around $1.75-$2 per 11⁄2 bushel hamper. Prices of Danish type declined at shipping points to $12 per ton in western New York and $14-$16 in Wisconsin. Main-crop shipments were nearly 300 cars less than the week before. New York and Wisconsin were responsible for most of the decrease. Movement of new stock increased to 20 cars, 14 from Texas and 6 from Florida.

Onions.-The onion market was dull and prices irregular. New York yellow varieties closed at $2.40-$3 per 100-pound sack in eastern markets, small stock selling as low as $2.25 in New York City. Midwestern yellows held generally around $2.50–$2.90. Colorado Yellow Danvers advanced in Chicago to $2.75-$3, with Oregon stock reaching $3.50-$3.75. Spanish Valencias Decontinued to sell at $1.50-$2 per crate in most cities. mand at shipping points was so light that few sales were reported. In western New York, yellow varieties weakened slightly to a range of $2.50-$2.60 per sack. The week's movement was 115 cars less, averaging a little over 62 cars a day. Ohio's output decreased sharply, and New York, Indiana, and Colorado furnished fewer cars than the previous week. Final estimate shows this season's intermediate and late onion crop slightly more than 14,800,000 bushels, only 275,000 below that of 1923. There were sharp decreases in California and Indians but a 50% increase in Ohio, with little change in other leading States.

[blocks in formation]

1

Arrivals and Prices of Fruits and Vegetables for the Week Closing Car Lot Prices of Fruits and Vegetables at Shipping
December 15-20, 1924, with Comparisons 1
Points
December 15-20, 1924, with Comparisons

POTATOES (Prices quoted on New York Round Whites, sacked per 100 pounds)

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][subsumed][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][subsumed][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][subsumed][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]
[blocks in formation]

Winesaps, boxes)

[blocks in formation]
[blocks in formation]

1 Not included in totals.

Unavailable.

New York Onions Advance

In the western New York onion market, the unexpected has happened this season. Apparently remembering the disastrous experience of last season, dealers did not care to invest in onions early in the fall. Prices to growers opened around 1é per pound, with a few fancy lots as high as 75¢ per bushel. Stock of poorer quality was not in demand at 50¢ per bushel. The carlot wire order price opened late in September at $1.35$1.60 per 100-pound sack, with a few sales of fancy quality in saxoline bags at $1.75. The Federal market news representative at Rochester advises that quotations were usually made on the basis of 14 inch-minimum, the price depending on the quantity of 2-inch minimum onions included in the lot.

When the October 15 estimate for the 14 late onion States was released, it showed production this season to be 300,000 bushels less than last year, the total being 12,561,000 bushels. Outstanding differences were decreases of 824,000 bushels in California and 490,000 in Indiana, with increases of 727,000 bushels in Ohio and 193,000 in Colorado. Shipments to December 20 bear out these estimates. California had shipped 945 cars less than at the same time last season and Indiana 1,043 less, while Ohio showed an increase of 1,235 cars, Colorado 180, Massachusetts 170, and Michigan 306. New York had moved 3,560 cars, or 23 more than at the same date a year ago.

Little activity was seen in the onion market until the middle of November. Then an undercurrent of strength became apparent. Late in the month the f. o. b. price in western New York jumped from a range of $1.50-$1.75 per 100-pound sack to $2, continuing upward until a level of $2.50-$2.65 was reached in mid-December, with some best stock reported 1 at $2.75. A few sales of red onions were made at $3. When comparing f. o. b. sales with prices in important city markets, the advance appeared purely speculative. However, the unexpected freeze in western New York on November 16 had caused many frosted onions to be moved to market on consignment, which should be considered in the comparison of f. o. b. prices with city quotations.

From several sources reports were heard that the crop this season included an excessive amount of thin-skinned onions which were not keeping well. The shortage in California appeared greater than early estimates indicated. National cold storage holdings on November 1 were scarcely more than half of last season's holdings on the same date. In New York State, however, a large share of onions is reported to be out of the growers' hands.

Prices this fall have not been so attractive for Spanish imports. The late October market last year in New York City was $3.50 per 100-pound sack for U. S. No. 1 yellows; this season at the same time only half that price, or $1.75, was paid. Spanish imports during October were 370 carloads, against 650 for October, 1923.

The price of old onions in the spring is influenced largely by the time that Texas Bermudas start to move in volume, as well as by the size of the Texas crop and the quantity of old stock in storage. Preliminary estimates of the 1925 plantings in Texas indicate 10,980 acres, compared with 10,260 harvested last spring. However, south Texas production can not always be judged by the acreage. The greater part of the crop is grown under irrigation, but thrips, occasional spells of cold, wet weather, or other unfavorable climatic conditions often cause a poor crop. Last spring a heavy carry-over of old onions coming on the market with Texas Bermudas caused exceptionally low prices to prevail for both the old and the

new crop.

Western New York growers who have had confidence in the market and the apparent national prosperity may be able to realize good prices for their holdings. It is reported that growers recently were offered $2 per 100 pounds for best stock, a price which is almost double the October ranges.

A tabulation of shipments from New York's 1923 onion crop shows that Orange County led with 1,985 cars. Other important counties were Madison, with 1,199; Wayne, with 667; Genesee, with 577; and Oswego, with 339 cars. Leading shipping stations were Florida, forwarding 1,210 cars; Canastota, 994; Elba, 501; Pine Island, 356; Orange Farm, 268; and North Chittenango, 205 cars.

Progress in Standardization

Standardization of farm products has attained national and international importance within the past few years, furthered by increasing recognition of marketing problems. The national standardization program of the United States Department of Agriculture began in 1915, coincidentally with the establishing of the telegraphic market news service. Federal grades were formulated for Bermuda onions and for potatoes, use of the latter being made compulsory by the Food Administration. Conditions during the war were so abnormal that little was accomplished. When the Food Administration closed in December, 1918, there was much speculation as to whether national grades could persist, but a second forward impulse had been given in 1917 by the establishment of the United States Food Products Inspection Service in principal receiving markets. A tremendous demand developed for additional standards, when, in cooperation with numerous State agencies, the inspection of perishables was extended to points of origin.

During the first year of its operation, the shipping-point inspection service issued certificates covering the quality and condition of 75,000 carloads of fruits and vegetables, and in the fiscal year 1923-24 the number increased to around 130,000 carloads. From 1915, when there were no recognized national grades for fruits and vegetables, the list of recommended grades reached 30 in 1924, and there was urgent demand for standards from growers of such products as artichokes, romaine, raspberries, and rutabagas.

Potato grades are now officially sanctioned in 25 States and used as a basis for Federal-State inspection at point of shipment in several others. Grades for one or more products have been

adopted in 25 States and are used cooperatively in 34 States. It is estimated that at least 80% of all potato shipments in the country are on the basis of Federal grades.

In Virginia the past season, 500 apple growers organized standardization rings and collectively advertised their brands of fruit in connection with the United States apple grades. In Georgia, for the first time in the history of the State, the peach crop was packed on the basis of United States grades, with 8,000 cars inspected and certified at shipping points. Foreign markets have begun to show preferences for officially inspected products. It is now universally recognized that the first principle of marketing is standardization.

Copies of any or all of the recommended grades can be had on application to the Fruit and Vegetable Division, Bureau of Agricultural Economics, Washington, D. C.

Utah Peaches Sold Well

The 1924 peach crop in Utah ripened a week earlier than the year before, as a result of hot, dry weather and a general shortage of irrigation water. Although the crop was one of the cleanest harvested in recent years, the Federal-State market news representative at Salt Lake City reports that the peaches averaged smaller than stock marketed in normal seasons.

Most of the crop was shipped in bushel baskets, being packed to meet Utah-U. S. No. 1 grade. Utah had adopted the Federal grades for peaches, with the exception of size specifications, using a minimum requirement of two-inch diameter for No. 1 grade.

Prices to growers ranged from 90 to $1.35 per basket for Utah-U. S. No. 1 grade, with most sales between $1 and $1.15. On a carlot f. o. b. basis, sales were made at $1-$1.60. A large number of cars sold between $1.10 and $1.35 per bushel, and many were rolled unsold.

Peaches from Utah went to about 28 States this year. Some shipments were sent to British Columbia, southern Florida, different points on the Pacific coast, and as far east as Michigan and Ohio. More than 20 carloads sold on the Los Angeles market. Total movement was 1,102 cars, compared with 1,203 cars in 1923.

One

Box Elder and Utah counties are the heaviest peach-producing sections in the State, with Weber, Salt Lake, and Davis next in order of importance. Although a few odd varieties are produced for local markets, such as Crawford, Carman, and Triumph, the Elberta is the leading variety. Practically all peaches sent to market are hand-sized and farm-packed. association built a modern packing house and installed a power sizing-machine this season. The results were so satisfactory that other packing houses may be built for next year's deal. Considering that Utah peaches were below normal in size and that Colorado was a direct competitor, growers and shippers were fairly well pleased with the results of this season's deal.

Arizona Citrus Fruit Moving to Market

About one-third of the Arizona crop of Marsh Seedless grapefruit had been sold by December 1, the Arizona Citrus Exchange, at Phoenix, reports. The crop, which was unusually heavy and of good texture and flavor, found a ready market at good prices. Each fancy Arizona grapefruit is now stamped "Arizona Desert Sweet" in red letters.

The crop of navel oranges is expected to be only about twothirds as large as last year, when 50 cars were shipped. This fruit also is of good quality and is bringing good prices, practically all sales being for more than $6 a box, delivered.

Fruit and Vegetable Review

(Continued from p. 406)

California cauliflower advanced to $2.25-$2.75 per crate in leading markets. Celery markets were stronger. New York Golden Self-blanching brought mostly $2-$2.50 per crate, while California Golden Heart reached $5.50-$6. Sales of cranberries were limited, but prices still ruled high. Half-barrel boxes of Massachusetts and New Jersey stock brougnt $7-$8. Florida peppers advanced sharply, ranging $5-$6.50 per crate. Spinach prices were about steady. Maryland Savoy brought 756-$1.35 per bushel basket; Texas stock $1-$1.25; and Virginia spinach in barrels $2.50-$3.25. Florida strawberries sold around $1.10 $1.50, quart basis, in eastern_markets. Nassau tomatoes appeared in most cities, bringing $7-$8 per six-basket carrier, with Florida stock $5-$8. Ohio and midwestern hothouse tomatoes in 10-pound baskets advanced to $2.75-$3.50.

Dairy and Poultry

Butter Markets Nervous and Unsettled

Butter markets during the week ending December 20 were a disappointment to those who expected more activity and a firmer tone with the approach of the holidays. Instead of an active demand trading was only fair with buyers showing but little inclination to anticipate future requirements. There were a few firm spots, Wednesday for example, when there was considerable buying of 92 score butter at New York and Chicago, resulting in price advances of one-half cent on those markets and one cent at Boston. This firm spot was short lived, as later easier undertones were reported which resulted in declines greater than the advance. The undertone of the entire situation was unsettled, with confidence among the operators lacking. This lack of confidence in the situation was based to a considerable extent on the heavy storage holdings as compared with last and previous years.

Production and the rate of withdrawals from storage were factors of influence on the market which received most attention. Reports available indicated that the make of butter was increasing from week to week. The American Association of Creamery Butter Manufacturers reported for the week ending December 13, a decrease of 1.4 per cent from the corresponding week last year and an increase of 3.1 per cent over the previous week, this year. The Minnesota Cooperative Creameries Association (Inc.) reported an increase of 2 per cent over the previous week. Additional confirmation came from receivers who generally agreed that the size of individual shipments was larger this week than last in spite of the colder weather in the producing sections.

The question of withdrawals from storage was an important factor and the movement was being closely watched. Figures released on Monday covering holdings of butter at 26 cities at the close of business December 12, showed a net reduction for the week of 5,325,730 pounds which was about 2,000,000 pounds lighter than the average for the three weeks previous. Withdrawals at the four markets for the week under review, however, did not indicate so sharp a decrease, but yet the withdrawals were materially lighter than during the previous week. This lighter movement, the large excess of butter in storage as compared with last year, together with the slight increase in the make, all have somewhat of a bearish influence on the market. There is, of course, a possibility of reducing the amount of butter now in storage to the average for years past by the time the new season of production begins. This, however, will require an exceptionally heavy consumption and a light make of butter during the winter months.

Advices regarding foreign situation report all markets in fairly firm position. Copenhagen quotation for Thursday December 18, was 600 kroner per 220 pounds or 48.17¢ per pound. More American butter was returned from England this week and additional lots are expected to arrive next week.

Wisconsin Market Steady to Firm at Unchanged Prices

At

During the week ending December 20, Wisconsin cheese markets were in a steady to firm position. Board prices of effect during the week, as established on December 13 at the Wisconsin Cheese Exchange, were maintained at an unchanged level. There was no meeting of the farmer's call board. the unchanged price level the market was reported steady to firm. Trade was only fair but was generally considered good considering the time of year. The cold weather prevailing throughout Wisconsin during the week hindered to a considerable degree both shipments from primary points and production throughout the State. While trade generally was not active, yet the light receipts and the outlet for a good market after the first of the year formed the basis for the firm sentiment which was current throughout the markets. New York State markets continued quite firm with available supplies very limited.

The distributing markets were reported as showing evidence of a slightly firmer tone, the eastern markets being described as quite firm and Chicago as steady to firm. Trade, while only fair, was considered as satisfactory considering the lateness of the season. Buyers ordinarily were interested only in current needs and followed a strictly conservative policy. Price advances during the week were of minor importance, being

confined largely to fractional advances on Young Americas and certain other western styles on the eastern markets. Little evidence of speculative inquiry was apparent. However, the firmer tone persisted in spite of the different demand and sluggish movement. For this reason the firmness appeared to be, in a considerable degree, a sentimental one. The very light receipts at important markets, the favorable volume of storage withdrawals, with the resulting reduction in storage surplus, the rather restricted available supply of strictly fine cheese, both fresh and storage, together with the outlook for good demand after the holidays, all contributed to the general confidence and were the chief factors in shaping market sentiment.

[blocks in formation]
« PreviousContinue »