Fruits and Vegetables

Price Trends Upward

A firmer tone pervaded fruit and vegetable markets during the week ending July 26. Watermelons, peaches, and pears were in better demand and sold at generally higher prices. Although cantaloupe and potato markets were unsettled, certain varieties tended to advance. Some of the western early potato deals are opening. The week's shipments of 21 products decreased by 3,000 cars to a net total of 19,000, with sharp losses in movement of watermelons, potatoes, and cantaloupes. However, grapes, apples, peaches, and pears moved in heavier volume.

Watermelons. A strongly upward price tendency prevailed in melon markets, indicating a more normal situation after the present heavy stocks have cleaned up. Weekly arrivals in a group of the largest cities dropped from around 3,000 cars to 1,800. In New York City auction sales were made at a wide range, but top prices were considerably above the preceding week's highest price. Georgia Tom Watson melons of various sizes brought $120-$485 bulk per car there, according to condition. Chicago quoted stock of 22-30 pound average from around $200 to $370. In eastern cities South Carolina melons sold on about the same level with Georgia stock. A few sales of Texas Tom Watsons were made at $300 in the Middle West, and at an f. o. b. range of 35¢–70¢ per 100 pounds. In Central Georgia f. o. b. trading had been resumed and prices were $115-$200 bulk per car. Carlot shipments totaled about 2,000 cars less than the previous week, with sharp decreases in the movement from Georgia, South Carolina, and Texas.

A few melons are beginning to move from some of the middlewestern States. Arkansas forwarded 23 cars during the week. After July the center of watermelon supply shifts from the South to more northern and western States. Georgia's early deal is over, and the middle section is active. Most of Florida's heavy crop was disposed of at good prices, but Georgia and South Carolina have been less fortunate. Competition during August will come from North Carolina, Missouri, and various other States of the Middle West. In August last year, Georgia was next to the heaviest shipping State, exceeded only by Missouri. Total volume of August melon shipments usually is only half that of July.

In 14 late-producing States, acreage is about 3,500 greater than a year ago. Central California's increase in plantings is estimated at nearly 1,500 acres. Illinois, Iowa, Maryland, and Virginia all show considerable gains. Combined acreage in the late watermelon States, however, is only about onefourth the melon area in nine early States.

PEACHES HIGHER

Elberta peaches have begun to move in volume from Georgia, and a second peak came on July 24, when output from that State passed 450 cars. The Georgia shipping season was featured by two peaks, with a distinct sag between. First peak occurred after the rapid ripening of Hileys, following a period of high temperature and hot nights. At that time, movement reached nearly 600 cars per day, and prices declined so low that shipments were almost suspended. Probably 2,000 to 3,000 cars of fruit, mostly Hileys, were left unpicked. In many orchards the entire crop of Georgia Belles was left on the trees. North Carolina Carmans struck an unprofitable market because of the oversupply from Georgia, and large quantities were unpicked. Toward the end of July harvesting of Hileys was in progress, and growers believed that Georgia Belles from their section would be marketed more profitably.

Jobbing prices advanced generally during the week. Georgia Elbertas ranged mostly $1.75-$2.50 per bushel and six-basket carrier, with Belles, $1.50-$2. At shipping points in Georgia Elbertas were slightly weaker at $1.15-$1.25, and in northeast Texas the price was $1.25-$1.40. Shipments from California became considerable, totaling about 1,300 cars, and Georgia gained about 500 cars, making the week's output more than 4,300 cars against 2,600 the week before.

Cantaloupes. From a total of 2,200 cars the preceding week, cantaloupe shipments decreased to 1,500. Arizona, Arkansas, and the Imperial Valley of California dropped off considerably. Market prices were irregular. Arizona Salmon Tints weakened to a general range of $3-$3.25 per standard crate of 36 and 45 melons, with top of $3.50 and low point of $2.50 in some cities.

As Imperial Valley's season closes, Salmon Tints have declined and much inferior stock is offered. Turlock section shipments brought $3-$3.75, and North Carolina's mostly $1-$1.50 in a jobbing way, with the f. o. b. price in North Carolina only 406.

Irish Cobbler potatoes from the Eastern Shore and Norfolk section of Virginia continued the feature of important markets, jobbing around $1.75-$2.50 per barrel. A few sales of Maryland Cobblers were reported at $2-$2.60. In New York City, where all potato prices were on an upward trend, Long Island at Cobblers appeared, selling $2.25-$2.50. Midwestern markets were slightly weaker. Chicago quoted Kansas Cobblers lower at $1.30-$1.45 per 100-pound sack, and in Cincinnati Kentucky stock brought only $1.50-$1.55. A 10¢-25¢ advance at Virginia shipping points brought the f. o. b. price per barrel to the $2 mark. In Kaw Valley there was a decline to 856-90 per 100-pound sack. Idaho's early deal has opened, with a steady price of $1, and first reports from Kearney, Nebr., quote Early Ohios at $1-$1.15. From all sections over 3,700 cars were shipped, or about 2,000 less than the week before. Virginia and Maryland were largely responsible for the loss, but Kansas again increased.

Pears.-Auction sales of California Bartlett pears indicated a stronger feeling. In Philadelphia a top of $5.25 per box was reached, but the general range was $3.50-$4.25. The week's total movement increased, with California the important source of supply.

MISCELLANEOUS PRODUCTS

Shipments of plums and prunes average 17 cars daily. California Wicksons controlled most markets at advancing prices, auction sales ranging mostly $1.75-$2.50 per 4-basket crate. At Fresno, Calif., Thompson Seedless grapes were selling around 75¢ per crate and lug, with auction sales in city markets $1.50-$2. Early apples have become active. California and Illinois shipped heavily, but Delaware's movement fell off. Transparents from various States were on the market, ranging $1.25-$1.50 per bushel. Illinois Duchess brought $1.75-$2 in Chicago; California Gravensteins appeared in Denver at $3.25 a box. New York quoted some Michigan Northern Spys at $5-$5.50 per barrel. Ohio cabbage brought $1-$1.75 per crate in the East and Illinois stock $1-$1.25 in Chicago. New York Big Boston lettuce remained around 756-$1.25 per crate. Yellow onions from Maryland and Virginia ranged 75¢-$1.25 per bushel hamper; New Jersey yellows $1.75-$2; and Walla Walla, Wash., Yellow Globes in 100-pound sacks sold at $3.25-$3.75.

Virginia Potato Shipments Heavy

Virginia farmers are about ready to back the old statement that a big crop is worse than no crop." With potatoes selling as low as $1.65 per barrel when the season was only two-thirds finished, the outlook was very discouraging for Eastern Shore growers. It was estimated early that Virginia's acreage would be a little larger than last year, but because of the wet spring there was considerable doubt as to the final outcome. Some low-land sections showed considerable loss from seed rotting, and cold weather delayed carlot movement from all sections. Notwithstanding these drawbacks, one of the largest crops ever grown in Virginia will be harvested, the Federal market news representative at Philadelphia advises.

To July 1 only 2,604 cars had been shipped, compared with 3,448 in 1923, 5,450 in 1922, and 6,500 in 1921. Daily movement during July was exceptionally heavy. There were many days on which various sections of Virginia and Maryland supplied over 65% of the total for the United States. On Thursday July 10, the heaviest single day, Eastern Shore of Virginia shipped 759 cars, Norfolk 200, and Eastern Shore of Maryland 86, or a total of 1,045 cars, out of 1,469 cars for the whole country. Including July 22, the total for the season was 12,368 cars, compared with 9,827 to the same date in 1923; 11,854 cars in 1922, and 12,106 cars in 1921, the biggest season during the past five years.

This heavy movement has kept all the markets liberally supplied and prices gradually weakened since the last of June, when an f. o. b. range of $3.90-$4 per barrel was realized, with a good demand. Slight price reductions have been made almost daily in an endeavor to keep the output cleaned up, but during the week ending July 19 it was necessary practically to stop digging. A determined effort was made to clear the tracks, and not until the middle of the following week were haulings extensively resumed. It was estimated on July 23 that the Virginia and Maryland Peninsula was only about 65% through shipping its early crop.

Another feature of the season has been that the yield was larger than growers themselves were prepared to market. During the third week of July, many growers found themselves short of barrels and it became necessary to purchase sacks, and even to ship some potatoes in bulk to markets which would handle stock in this manner.

F. o. b. prices have been the lowest realized by the Eastern Shore growers in many years. Sales at $1.65-$1.75 on July 22 and a range from $1.65 to $3.25 per barrel for the month of July average almost $1 lower than in 1922, which was the lowest season during the period 1919 to 1923. Price ranges for the first 24 days of July during the last six years have been $1.65-$3.25 in 1924, $3.75-$6 in 1923, $2.25-$4.10 in 1922, $2.90-$4 in 1921, $6.50-$11.50 in 1920, and $4.85-$6.75 in 1919. In addition to the low prices of f. o. b. sales, large numbers of cars have been rolled on consignment, especially to some of the eastern markets. Net returns for those cars have been considerably lower, and during the two weeks ending July 24 in both New York and Philadelphia many sales were made at $1.75-$2.25 per barrel.

There seems but little chance of an appreciable market recovery for some time, as Kansas and Kentucky have been standing aside, waiting for better conditions, and New Jersey, with a big crop, is marking time, hoping for conditions to improve within a few weeks.

Watermelons in Central Georgia

The southwestern Georgia watermelon deal has closed and the Middle Georgia movement was active by July 24, although loadings were not heavy. Peak movement was expected the week beginning August 3, with heavy shipments the Friday and Saturday preceding. After about 15 days of weak or demoralized markets, the situation was somewhat brighter. The Federal-State market news representative at Macon reports that, on July 23, the market there was stronger, with cash track prices for Tom Watsons and Thurmond Grays quoted as follows:

26-pound average, 4 tiers. 28-pound average, 4 tiers. 30-pound average, 4 tiers. 32-36-pound average, 4 tiers..

Bulk per car

$100-$115 125-150 140- 150 150- 175

On the same date last year the f. o. b. market at Macon was steady, with carloads of 22-30-pound average Tom Watsons and Thurmond Grays bringing $120-$450, according to size and quality.

Growers in this section held loadings back for several days during the glutted markets. Some of the melons were sunburnt as a result. Tom Watsons, being dark green, showed sunburn more readily than Grays, and, therefore, were slightly discounted. After these early loadings are out of the way, quality and condition of Middle Georgia melons is expected to be good. Many melons in South Georgia developed anthracnose badly because of daily rains, followed by hot sunshine.

A larger percentage of the crop in Middle Georgia is of the Irish Gray and Thurmond Gray varieties. The Irish Gray was first propagated in 1915 and the Thurmond Gray in 1922. The Tom Watson, principal market variety, was first propagated in 1913. Thurmond Grays have been planted so far as seeds were available this year. This melon is a cross between the Tom Watson and the Irish Gray. It is a long melon, heavily rounded at the end, and it is said to weigh more than any other melon of equal length and diameter.

The entire southern watermelon deal to date may be summarized as a combination of failure and success, with failure most apparent. Florida shipped nearly 3,600 cars at profitable prices before July 1, but as many more shipped since that time may have sold at losing prices. Possibly the season as a whole will show a slight profit to the grower.

South Georgia's story is different. Just after the peak of the Florida movement, from June 25 to 28, and the consequent slump in terminal market prices, Georgia began active shipping. The large markets reacted quickly to combined heavy receipts from both Florida and Georgia and by July 7 many melons were selling in New York for freight or less. During the week ending July 12 Georgia alone shipped 4,100 cars, with more than 7,800 cars from all points in the United States.

After June 30 there was no profitable f. o. b. market in Georgia or Florida except for the very best and largest stock. There were days during the South Georgia deal when cars could not be sold on track for more than loading charges, and very few consignment houses would guarantee even freight. The Georgia watermelon deal to July 24 was a financial failure. South Carolina melons, because of poor quality and condition, were not expected to compete long with Georgia melons in eastern markets this year. For this reason it is probable that a price reaction may take place in the Macon section, bringing track prices back to a more profitable basis.

California Leading Pear State

California produced 31% of all the pears grown in the United States in 1923 and shipped 7,140 of the 18,460 cars comprising the commercial pear crop. Nearly all of these were Bartletts, the variety which has proved to be most profitable for drying, canning, and shipment.

An advertising campaign carried on last season by a growers' organization increased consumption 119% over 1920 in the four cities, Boston, Philadelphia, Chicago and Pittsburgh. In New York, where no advertising was conducted, the increase was only 46%.

Growers and shippers found the 1923 season successful, in spite of lower prices paid by canners. F. o. b. sales opened around $1.60-$1.75 per box in July, advancing in August to $1.75-$2, and closed the season at the top figure. Production both in California and the whole United States was considerably less than the huge 1922 crop. In California, farm value of the crop was nearly six and a half million dollars, a million less than

the year before. Total farm value of the pear crop in the United States was slightly over $21,000,000.

Production of pears has been on the increase in recent years. Since 1909, when not quite 9,000,000 bushels were grown in the country, to 1922, when nearly 21,000,000 bushels were grown and 20,000 cars shipped, there was a steady gain, except during the short-crop year of 1921. In 1923, however, production dropped to 17,390,000 bushels. This season a crop about one million bushels heavier is expected, but California probably will have fewer pears than last year.

Records of originating shipments reported by railroads during 1923 show the following billing points as most important:

On

First reports from the early potato district of Idaho quote Rurals and Cobblers at $1 per 100-pound sack, cash to growers at Caldwell. This is a little lower than first sales in 1923. August 3 the price was $1.10-$1.25, but an advance occurred immediately following and, until the end of the month, most sales were around $1.25. Declines then prevailed until the end of the season, and in September Rurals closed at 60¢-656. The early crop of 1923, however, brought more satisfactory returns to growers than in 1922. Practically all the potatoes were dug and sold at a fair price, while in 1922 several hundred acres of potatoes were left in the ground because of poor markets. The Caldwell-Nampa section of Idaho is located in the Boise River Valley, and is irrigated by several large projects. Altitude of the valley is about 2,500 feet, and potatoes mature a month to six weeks earlier there than around Twin Falls and Idaho Falls, which are 1,000 to 2,500 feet higher. Rurals are chiefly grown, although Cobbler acreage increased in 1923. Early crop plantings in Idaho were estimated at 7,200 acres, compared with 12,000 the season before. Yield was cut to about 65 or 70 sacks per acre.

More than 1,000 cars of the early crop went to Oklahoma and Texas in 1923. A summary of important receiving States, according to original destination records, is as follows:

Minnesota Potato Growers Buy Warehouse

A large storage warehouse at Moorhead has been purchased by the Minnesota Potato Growers' Exchange, of St. Paul. This plant is the largest in the section, being 202 feet long and 100 feet wide, three stories and basement, built of brick and concrete, with a ventilating system which has proved effective in keeping potatoes until late spring. There is adequate storage capacity for 400 cars, and the equipment permits six cars to be unloaded at one time. Another feature is that cars may be loaded for shipment at any time regardless of weather conditions. The acquisition of this plant is considered an important step toward orderly marketing. Sixty-seven warehouses had been acquired by the first week in July.

Dairy and Poultry

Butter Markets Weak and Unsettled

Increasing accumulations and growing lack of confidence among the trade were the principal factors bringing about extremely weak conditions in the butter markets during the week July 21-26. The primary cause for this weak condition was that supplies, although not exceptionally heavy and while decreasing to some extent, were in excess of a ready demand. Production, therefore, was a factor of prime importance and was watched closely. Reports which became available during the week indicated that the make of butter was leeping up due to plenty of rain and excellent pastures throughout most of the producing sections. The American Association of Creamery Manufacturers reported for the week ending July 19 an increase of 19.5% over the corresponding week last year and a decrease of 4.6% under the previous week this year. The Minnesota Cooperative Creameries Association report showed a decrease of 4.23% as compared with the previous week.

INTO-STORAGE MOVEMENT EXCEPTIONALLY HEAVY

Figures available for the four markets show that the net storage increase for the week under review was over 8,000,000 lbs. as compared with about 3,000,000 lbs. the corresponding week last year. June as a rule shows the heaviest into-storage movement, but at the present rate the increase during July this year will exceed June by a slight margin. The July movement this year is also running heavier than a year ago, and will probably exceed 1923 by 10,000,000 lbs. In looking back over figures available for the past six years we find that the July increase was also heavier than June in 1920, at which time 29,745,000 pounds of butter were stored during the month. It now appears that this July will exceed that figure. Dealers in studying the above statistics could find little ground for taking on additional stock, as the possibilities of a gain in the face of the heavy holdings were not encouraging.

With domestic prices at their present level foreign competition has little effect on the situation. Danish markets were practically unchanged from the previous week and prices were too high to warrant imports for the moment. A small lot of 105 casks of Danish butter which had been contracted for arrived during the week.

Heavy Cheese Production Moves Well on Firm Markets

Cheese markets gained further strength during the week ending July 26, with active demand which developed into actual buying, practically cleaning up current supplies. Differing from the previous week in that distributing markets also shared with country markets in the better feeling, the week's trading on the whole appears to have been the most satisfactory since the new season opened. Several factors support such a conclusion. In Wisconsin, for example, despite the fact that dealers' asking prices represented a wider margin than previously asked, orders exceeded the supply at hand, making it impossible to handle the complete volume of business in sight. Speculative buying constituted part of this demand and there were sales and inquiries from new interests in the South which have not in the past been accustomed to buying for storage. This included some of the wholesale grocery trade. Chicago shared also in a much heavier demand from outside buyers, and confidence of buyers, as indicated by a willingness to anticipate requirements, accounted for advances in asking prices which it was possible to hold in making sales. No inclination to push sales at a sacrifice was evident. Furthermore, holders of storage goods were reluctant to part with these at current prices. The tendency of prices throughout the week was toward a lighter level, although changes which occurred were relatively slight. These were no more than a reflection of the firmer market. Prices on Wisconsin boards which met at the close of the week made moderate advances although not so much as had been anticipated in some quarters. From one standpoint, radical advances which occasionally occur following a week of such satisfactory business might have been unfortunate at this particular time, in that they would have had some tendency to slow up trading. A continuous steady demand is desirable to absorb this season's heavy production.

Slight reductions in receipts on the markets point out that production is falling off, but reports from Wisconsin producing sections tell of plentiful rains, good pastures, and prospects for a heavy August make. New York State production is reported to be showing further decreases, with some factories closed on account of milk going for direct city consumption. Supplies of State cheese in the New York City market continued light. Buying direct at country points accounted in part for this, for at prevailing prices in the country cheese could not be purchased and sold in a wholesale way at a profit in New York. This situation together with advice from western markets contribute materially in keeping the tone of the New York market firm.

Grain

Wheat Prices Forced to New High Levels

Continued unfavorable crop news principally from the Canadian spring-wheat area forced wheat prices to new high levels during the week July 21-26. Continued dry weather with only occasional showers throughout the Canadian springwheat section was very unfavorable to the growth of the crop and it was unofficially estimated that this year's crop might be reduced to only about one-half of last year's unusually large crop. It is still too early, however, to determine definitely the outcome of the spring-wheat crop and weather conditions will continue to be a very important factor during the next few weeks.

Latest reports concerning the world's wheat crop covering bout 75% of the wheat area of the Northern Hemisphere indicate a reduction of about 375,000,000 bushels in this year's crop. The commercial carryover on July 1, however, was between 50,000,000 and 60,000,000 bushels larger than last year, which will reduce the shortage somewhat and the higher prices will also tend to reduce consumption below that of last year. From present indications the United States will occupy a favorable position in the world's wheat market during the coming year. The reduction in the Northern Hemisphere outside of the United States and Canada is less than last year and the Canadian crop, which is the principal competitor with the United States, apparently will also be very light. These conditions are likely to create a good demand for United States wheat and the world price will likely be on a materially higher level than last year.

The carryover of wheat in the United States including the amount on farms, the amount in interior mills and elevator, estimated at 34,000,000 bushels, and the visible supply in terminal markets is estimated at 102,000,000 bushels, which is practically the same as the carryover on July 1 last year. With this carryover of 102,000,000 bushels and an estimated production this year of 740,000,000 bushels, the indicated domestic supply this year is 842,000,000 bushels compared with 888,000,000 bushels last year.

The exports of wheat excluding flour for the year ending June 30 were 79,000,000 bushels, but with a total supply of wheat of about 45,000,000 bushels smaller this year there will not be as much wheat to export as last year unless the stocks are sold off much closer than they have been during the past two years.

Wheat future prices at Chicago advanced 8-9é during the week and the July closed at that market at $1.361⁄2 with the September at $1.354, the highest point on the crop year to date and about 38¢ above the price at the corresponding time

last year.

Cash prices generally followed the trend of the future market but the continued movement of new wheat weakened the premiums somewhat toward the close of the week. Local showers in some sections of the West stopped threshing and some of the new wheat was damaged by the rain and a few cars of damp grain were received at Wichita, Hutchinson, and other central western markets.

The higher prices did not bring out as much wheat as was expected and farmers were reported to be storing their wheat and holding for about $1.25 per bushel net. Mills were active buyers of the new hard winter wheat but elevator interests were also in the market, and all offerings were readily absorbed at the various markets. Export sales totaling about 1,000,000 bushels were reported, but export bids generally were below a working basis as foreign buyers were reluctant to follow the sharp advance in prices.

The flour demand continued dull and toward the close of the week there was some falling off in the buying by the mills, which were inclined to restrict their buying until the market should return to a more stable basis.

The offerings of spring wheat were very limited and the receipts at the principal spring wheat markets were mostly of new winter wheat coming direct to mills on previous purchase. Durum wheat was in better demand and cash prices advanced slightly more than the futures. July durum wheat at Duluth closed on Friday at $1.361⁄2 and No. I amber durum was quoted about 1e below this price.

The movement of new soft winter wheat became larger during the week but the shortage in this crop was reflected in the higher prices being paid for this wheat compared with the hard winter wheat sales.

CORN PRICES 30 ABOVE LAST YEAR'S LEVEL

The corn future market also made some gain during the week, the July at Chicago closing on Saturday at $1.094 with the September at $1.05%. These prices were about 30¢ above the July and September prices for the corresponding week last year. While cash prices held firm the offerings and shipments from country points were larger and the cash prices did not follow the advance in future prices at several of the western markets, including St. Louis, Kansas City, and Omaha. While there was sufficient demand to absorb the larger offerings a weaker tone developed in the market toward the close of the week. More favorable weather improved the crop prospects, although it will require favorable weather until October to properly mature a large part of the crop.

Mills were active buyers of the white grades and feeders and shippers took the yellow grades. Pacific coast buyers took most of the offerings at Omaha. Hog prices advanced to new high levels during the week but hog feeders were reported to be buying sparingly.

There were no new developments in the oats market during the week but the market followed that of other grains. There was a fairly active demand at most of the markets which was sufficient to absorb the limited receipts. The movement of new oats had not become general and buyers were awaiting a larger movement to accumulate stocks. Prices at the close of the week were practically the same as at the close of the previous week.

The rye future market advanced about 4¢. There was a steady demand for the cash grain from the usual sources. Mills took most of the better grades, while shippers bought the grain of medium and lower grades. Nos. 1 and 2 rye at Minneapolis sold at around 83 with choice milling grades selling as high as 84e.

The barley market was rather slow because of a dull cash demand. The choice grades of barley were in fair demand but the lower grades were very dull, and some concessions in price were necessary to sell them. September barley at Minneapolis closed on Friday at 72 and cash prices ranged from 62-70¢ in that market. New barley for August shipment was quoted at 83é at Milwaukee.

Flax receipts were very light but the market was weak, and future prices declined 2e for the week. Spot seed at Minneapolis was quoted from $2.46-$2.49 per bushel. The demand was not active but sufficient to take care of the few cars received.

Stocks of wheat on farms July 1 were 30,696,000 bushels, according to the estimate of the department. This is the smallest quantity since 1919. The largest farm stocks of July 1' since that year were 56,707,000 bushels in 1921. They were 32,359,000 bushels in 1922, and 35,894,000 bushels in 1923.