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Peanut Market Shows Increased Activity

Since the middle of June the peanut market, which for a number of months had been dull and lifeless, has come to life very definitely, and in some sections has assumed even an excited atmosphere. In few places are stocks of farmers' goods sufficient to meet the demand. As with many other crops, the very late, cold spring, accompanied by almost continuous rains, proved a serious handicap to the planting of peanuts, and everywhere planting was several weeks late. Both acreage and yield will be curtailed by the late planting, but just how much is a matter of question.

In Virginia and North Carolina, holdings of the 1923 crop of farmers' goods have been heavily reduced by large purchases during the past two weeks, until remaining supplies have been so diminished that some cleaners advise they are unable to cover sales by new purchases. Furthermore, cleaners are accepting smaller stock and poorer quality at prices previously paid for best goods. The price of farmers' goods has strengthened somewhat, and many holders are anticipating still further advances. On June 24, at country shipping points, Jumbo farmers' stock was selling at 6-61, Bunch at 52-6¢, and shelling stock at mostly 5¢ per lb.

VIRGINIA AND CAROLINA STOCKS LIMITED

An increasingly good demand has been reported in Virginia and North Carolina for all grades of shelled and cleaned Virginias except No. 2 shelled. Prices on most grades have recently strengthened. Supplies are limited and cleaners generally are confident that present prices can be maintained or advanced. Spanish No. 1 shelled, which had been in light demand in Virginia and North Carolina due to lower comparative prices in the Southeast, have strengthened, and prices have become firmer on this grade. On June 24, Virginia jumbos were quoted at 83-94, fancys at 71-7, shelled Virginias, extra large 101-116, No. 1, 91-10¢, and Virginia Spanish No. 1, 113– 12¢ per lb.

Stocks of farmers' goods in the Southeast, outside the hands of shellers, have become practically exhausted except for goods held by the cooperative association in Georgia. Very little farmers' stock has moved for several weeks. Recently a few cars of farmers' stock Spanish, left over from planting, have moved at $125 per ton delivered for U. S. No. 1 grade, and a short time before a few cars were reported sold at $130 per ton f. o. b. shipping point. The new crop, which is three weeks late, is looking well, except that some fields are becoming grassy as the result of so much rain.

SOUTHEASTERN SPANISH PRICES INCREASE

For some months shelled Spanish in the Southeast were in very light demand and the price steadily dropped. Recently the market has shown new life and the demand for carlots has continued to improve until it could be called very active on June 24. At the same time a number of shelling plants have worked up all their farmers' goods and have closed their plants until the new crop comes on. A few weeks ago a number of cars of No. 1 Spanish sold f. o. b. the Southeast as low as 10¢ per lb. and some cars are said to have moved even lower. On June 24, however, practically no shippers were quoting under 11¢ per lb., and some were asking 11 for No. 1, while No. 2 were generally quoted at 8-84¢ per lb. No. 1 Runners have advanced slightly, and on the same date were quoted at 8-816, few 8e per lb.

Oriental peanuts recently have been arriving in large volumeon the Pacific coast. During the first three weeks of June more than 3,500,000 pounds arrived at the port of San Francisco alone, while large amounts came in at Seattle and Los Angeles, and 1,000,000 pounds were reported as being on board ships bound for Atlantic coast ports. During May over 16,000,000 pounds of peanuts are reported to have arrived at all ports of the country, making a total since the first of November of more than 37,000,000 pounds, which is slightly heavier than total imports during the same period the preceding season.

Chicago is the largest consumer of imported peanuts in this. country. In one month recently nearly 150 cars of Oriental peanuts were received at Chicago. West of the Rocky Mountains, Oriental peanuts are used very generally in place of domestic Virginias.

While imports have increased, exports have decreased. During May less than 300,000 pounds of peanuts went out of the country, and during the period from November, 1923, through May, 1924, less than 2,400,000 pounds of peanuts left the United States.

Fruits and Vegetables

Watermelons a July Leader

Sharp gains in shipments of watermelons, new potatoes, cantaloupes, and pears during the week, June 23-28, saved the car-lot movement of 22 leading fruits and vegetables from showing a net loss. Heavy decreases were reported in shipments of tomatoes, strawberries, peaches, lettuce, and citrus fruits. The week's combined movement increased 1,500 cars to a total of 18,500. As a result of lighter arrivals, potatoes, peaches, and tomatoes advanced considerably in price. Cantaloupe markets slumped in the East and watermelons in the Middle West, but melons sold firm to higher in eastern cities. Watermelons.-July 4 and warmer weather probably helped to stimulate watermelon shipments during the past week, although opening of the active season in Georgia also increased the volume of movement. At the middle of the week, daily shipments averaged more than 700 cars. Total output for the seven days exceeded 3,500 cars, or nearly three times the previous week's shipments. About half the total was from Florida, one-fourth from Georgia, and 300 to 400 cars each from Texas and California. Scattering shipments started from Mississippi and South Carolina.

GEORGIA SEASON LATE

Florida's movement to date has almost caught up with last season's, but Georgia is still far behind. Compared with the week's total of 3,500 cars, the corresponding period last year saw only 2,800 cars shipped because of the smaller southeastern crop, but in 1922 the output was 3,900 cars.

July always is the big watermelon month. Last season, June shipments filled about 6,100 cars, July's 15,400, and August's about 8,600. The respective totals for these three months in 1922 were 15,000 cars, 17,800 cars, and 9,000 cars. Unload reports for a dozen important markets indicate that, during July, 1923, one melon was received for every four or five persons in these cities. Eastern markets receive relatively more melons prior to July than do the mid-western cities, but after July the reverse is true because of the shifting of sources to the central producing areas.

Demand was quite active and supplies limited in New York City toward the end of June, so that wholesale prices advanced about $100-$200 per carload from the week's low point to a top of $800. Chicago, on the other hand, declined even more noticeably, with trading slow. From $875 per car on Monday, Florida 30-pound average melons dropped to $550 by Saturday, and smaller sizes sold at less than $400. Similar depression characterized the f. o. b. market at Ocala, Fla., where haulings were very heavy. Average price in that section was $200 per car, compared with $400 a year ago. The Sandia district of Texas reported 22-28-pound Tom Watsons at $250$450 a carload.

with 706-75¢ on the pink tomatoes. Fair quality green stock was bringing 90e at the close of the season in Mississippi, an advance of 30¢ over the previous week. With supplies sharply curtailed, the New York City jobbing price on Mississippi turning wrapped fours nearly doubled. Closing general range was 75¢-$1.25. In Chicago Texas stock strengthened slightly to $1. South Carolina fancy count six-basket crates topped the New York market at $3-$3.50, with best Floridas around $2. A 40% decrease in total shipments for the week was caused by the sudden falling off of movement from Mississippi and Florida. Texas' output increased to 355 cars. Mississippi has passed its high total of the 1922 season by already shipping 3,500 carloads of tomatoes.

POTATO MARKETS STRONGER

An increase of about 1,700 cars brought the week's new potato shipments to 5,000 cars, with Virginia the leading source of supply and North Carolina second. Practically all of the few South Carolina Cobblers selling in terminal markets were of inferior quality and the price went as low as $2.50 per cloth-top barrel in New York. North Carolina stock, however, ranged generally $4-$4.50, an advance from the previous week. Virginia Cobblers were the leading line, bringing mostly $3.50-$5, with top of $5.25 in New York. Southern Bliss Triumphs in 100-pound sacks sold mostly around $2.65-$3 in Chicago. A few old potatoes continued on the market. Maine Green Mountains were only slightly weaker in Boston at $1.75-$2, and some northern round whites brought $1.15-$1.35 in the Middlewest. Shippingpoint prices of new stock tended upward, barrels of Irish Cobblers ranging $3-$3.35 in North Carolina and $3.50-$3.75 on the Eastern Shore of Virginia.

Peach receipts in principal markets fell off considerably, especially in New York, where fancy Uneedas of medium to large size brought $4.50–$5 per six-basket carrier. Early Rose brought the same price there, but in other markets the range for both varieties was lower. A lull in shipments occurring about June 25 tended to stimulate prices. A few North Carolina Greensboros of only fair color sold in Baltimore at $2.50-$3. At f. o. b. points in North Carolina, Early Rose brought $2.50 and Greensboro $1.50, while at Macon, Ga., Carmans were mostly $1.75. Shipments from Georgia were less than half, and the week's total from all States dropped to 260 cars.

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CANTALOUPE PRICES TUMBLE

Cantaloupes struck lowest level of the season in Imperial Valley, with standard crates selling at 80-$1 cash track. This sharp decline followed an advance earlier in the week, when the range was $1.50-$1.75, and left the f. o. b. market in the same demoralized condition it experienced just two years ago. In late June, 1923, prices were twice as high. Extremely hot weather was affecting condition of some of the fields, and shipments reached a peak of 3,300 cars for the week, compared with 2,500 during the same period last season. Total movement from Imperial Valley has now exceeded the 1923 record to this time. Georgia sent 82 cars to market, and a few were reported from Florida. The liberal receipts in eastern consuming centers caused California Salmon Tints to decline to a range of $2.25-$2.75 per standard crate, with Baltimore quoting best stock at $3.25. Supply and demand were better balanced in the Middle West, and the general price was $2.50-$3. Atlanta dealers got $2 for standard crates of Georgia Salmon Tints, but flat crates of Pink Meats brought only 50-75¢ in wholesale lots.

Tomatoes.-Pink unwrapped tomatoes and green wrapped stock changed places in the Jacksonville district of Texas. Until recently the pink stock brought a good premium, but latest f. o. b. quotations on four-basket crates of U. S. grade No. 1 green wrapped tomatoes were $1.10-$1.25, compared

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Honey Outlook Unusually Variable

A survey of the beekeeping situation over the country shows how variable weather conditions are in different parts of the United States-and, of course, the honey crop is dependent upon favorable weather. In California and parts of the Mountain States, and throughout several of the Southeastern States, beekeepers report a lack of rainfall and a consequently curtailed honey flow. On the other hand, throughout practically the entire Clover belt there has been so much rain that bees have been unable to work on clover and other available honey plants.

California beekeepers say that they are experiencing the worst drought in a great many years. Bees are barely making a living now, and a heavy loss in bees is anticipated during the summer and fall if the present extremely dry spell continues, as it is preventing the securing of sufficient pollen, which no amount of feeding of sugar can replace. It is generally agreed that there will be no Sage honey surplus in California this year. Orange honey has sold recently in ton lots at 12-12 per pound, few 15¢ per pound, and White Orange comb at $6.00 per 24-section case.

In the northern part of California, star thistle is blooming but is not producing much nectar, and the protracted drought is causing many young plants to die. Even one-third of a crop of Thistle honey is doubtful. One carlot of 1923 crop White Sweet Clover and White Thistle sold recently for July delivery at 9¢ per pound.

The best crop in years is reported along the Oregon coast, mostly from Hungarian vetch and clover, but the flow is about over. First bloom Alfalfa has yielded unusually well in Washington; but in eastern Oregon, southwestern Idaho, and parts of Utah continued dry weather and high winds, coupled with the activity of the alfalfa weevil, is drying up plant life, and there has been practically no honey yield. In the other Mountain States the cold weather during June retarded brood rearing and hindered bees from working, so that little surplus was stored from first crop alfalfa and yellow sweet clover. Lack of sufficient feeding caused a very high loss in bees. Prospects look good in Montana and Colorado for a better crop than last season's, although some sections need rain badly. Twenty-five carlots of bees shipped from Utah and Idaho to California for the winter could not be shipped back due to the hoof-and-mouth quarantine against California products. One carlot of White Sweet Clover was sold recently in Utah at 9¢ per pound.

Following last season's disastrous honey year, beekeepers in south Texas are much pleased over the good honey flow which they are experiencing this season. The honey yield will be moderate in the cotton belt of Texas. Horsemint has yielded well in Texas and is now about over. Mesquite has begun blooming again and becs are now working on it. Prices show

a wide range. In small pails, Light Amber extracted has sold at 10–12¢ per pound, with some beekeepers getting up to 20¢ per pound. Bulk comb White Clover has sold in ton lots at 16-18 per pound. Package shipments of bees from Texas and other southern States are about over for the season.

Georgia has one of the largest crops on record and has already disposed of much of the surplus. Florida also reports a bumper crop, but in Louisiana and Mississippi the flow has been cut short as a result of the long dry spell.

Ample rains have insured a good White Clover crop in the Plains Area if enough warm, dry weather comes to enable the bees to work on it. Up to the first of July, however, bees could not store much nectar, due to so much rain and windy weather. In parts of Illinois many honey-producing weeds are said to have been drowned out by the rain. Swarming in the Plains section has been excessive. Many tons of sugar were fed throughout this section and the entire clover belt this spring to keep the bees alive. Even as far south as Ohio, bees required feeding up to the middle of June. In Wisconsin hardly one-third of the apiaries are said to be in shape to gather the clover crop, due to lack of stores and cold weather. Even after clover started blooming, cloudy and rainy weather kept bees from working on it very much. It is hoped that July weather will be more favorable to nectar gathering.

Many bees in New York State also are extremely light in numbers and have not built up sufficiently to take full advantage of the clover flow which started late in June. Pennsylvania expects a good flow from basswood, and it may yield also in New York State. Much American foulbrood is reported in the northeastern States. A few sales of White Clover extracted, in 60-pound cans and in ton lots, were reported at 11¢ per pound.

Imperial Valley Cantaloupes

The 1924 Imperial Valley cantaloupe season started earlier than normal, when three express cars were shipped on May 19. The first few days' shipments, however, were largely of a new melon which has been developed recently and is known as the "HB" cantaloupe. Salmon Tints started to move in volume about four or five days later.

Some complaints were made early in the deal of stock arriving on the markets in a green condition. This is difficult to regulate, especially when weather in the East is cool and stock does not ripen or mellow on arrival. The same melons would be considered in excellent condition, if the weather were warm. Shipments from the Imperial Valley may be destined to points five to twelve days distant, and are expected to arrive at any one of those points in just the right condition of maturity. Forwarding of cars, therefore, must necessarily be regulated very closely. According to advices from the El Centro representative of the Federal Market News Service, the county horticultural commissioner has a corps of experienced men, watching the packing and loading and, if in their opinion the stock does not meet maturity requirements, it must be repacked or is condemned.

Of the estimated 30,000 acres in the valley this year, approximately 18,000 acres were covered with paper to protect the young plants from frost when they emerged from the soil. These plantings were one to two weeks earlier in maturing than the uncovered acreage. Bulk of the crop from the covered acreage had been shipped by the end of June, while movement from the later, uncovered plantings in the south end of the valley was nearing peak. Although the acreage there was less, yield was generally greater. Yields in the valley as a whole were lighter than anticipated, and shipments never reached the high point expected at the opening of the season. Many factors anticipated a peak day of 600-700 Cool cars, or even more, sometime during the movement. weather, however, kept the stock ripening gradually and there was no sharp increase, with a sudden drop afterward. Instead, the crop moved in a steady, even volume. Shipments maintained a considerable lead over all previous seasons and on June 30 totaled 12,855 cars as against 10,720 and 8,664 cars, respectively, in 1923 and 1922.

Shipments were expected to continue in fair volume until July 10 or 15, but probably will fall off more rapidly than last season. Weather conditions, however, will control this situation. Estimates of the final movement vary considerably, but it seems probable that a total of 13,000 to 14,000 cars will be marketed, compared with 12,997 last year.

First peak of the season came on June 12, when 535 cars were reported out. Last year's first peak of 294 cars came on June 2, but the big peak of 556 cars occurred on the 20th. Two years ago the peak was two weeks later than this year, amounting to 662 cars on June 27. Peak of the season has fallen on June 12 during three of the last ten years, and three times on June 23. Shipping-point prices, cash track, for loaded cars declined from around $3.50 on May 26 for standard crates of 45 melons

to as low as $1.05 on June 14. A general range of $1.10-$1.20 was maintained during the week June 13-20. On June 21, prices began to advance, and were mostly around $1.75 by the 23d. A few days later, bottom of the market was reached at 80¢-$1. Prices this season on jumbo crates have ranged generally 25 higher than standards, while ponys brought 35¢-50¢ less. Flat crates usually are sold on a basis of 40% of the standard crate prices.

Cool weather in terminal markets during the first few weeks of the season kept prices at low levels. Practically everyone in the deal lost money on stock arriving during this period. Just as the heaviest shipments of the season began to arrive, the weather became warmer in the East and prices both there and at shipping points started to recover. Late in June buyers were somewhat skeptical, while shippers felt that the deal would close on a fairly profitable basis. Prices in most markets during the latter part of May were $6-$10 on standard crates, but declined with the heavier arrivals and, during the third week of June, ranged $2.25-$3.25, mostly $2.50-$3.

F. o. b. auction prices have been watched closely by shippers. As these sales were early in the day, many refused to sell to cash truck buyers until they had first learned the auction prices. F. o. b. selling has been more general this year than in any previous season, but it is probable that not more than onefourth of the shipments have been disposed of in this manner. As in past seasons, most of the cars were rolled to dealers' representatives in the terminal markets, consigned, or rolled jointaccount with terminal market agencies who had advanced funds to growers through various distributors.

Records kept in the El Centro office of the Bureau of Agricultural Economics show that this year's crop has been given a wide distribution. Carlots have been sent to about 350 cities in the United States and Canada. The large volume moving into smaller cities and towns of the Middle West and East undoubtedly helped to maintain prices as well as they were in the leading terminal markets. A large amount of stock is reported going to cities along the Pacific coast, which also has had a stabilizing effect.

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Dairy and Poultry

Butter Markets Nervous and Unsettled

The butter markets throughout the entire week, June 23-28

were marked by quiet trading and a nervous unsettled under-
tone. The entire situation during the week appeared to hinge
on the New York market, where short interests on the Clearing
House Call in an effort to obtain butter for delivery before the
close of the month bid quite freely on the finer marks. Toward
the close of the week, however, open trades were rapidly re-
duced and the markets all closed in fairly steady position.

The range of prices between Chicago and Eastern markets
was from 2 to 3 throughout the week. The higher Eastern
markets undoubtedly attracted shipments from many factories
which ordinarily ship to Chicago, thus resulting in lighter
receipts at Chicago. Such a wide range of prices as existed,
would under ordinary conditions induce greater intermarket
shipments, but on the contrary, shipments from Chicago
during the week were light, indicating that dealers on Eastern
markets placed but little confidence in the situation.

Light intermarket shipments may have explained to some

extent the lighter receipts during the week as compared with

the previous week. It is quite possible, however, that pro-

duction has reached the peak and is now on the downward

trend. Production reports for the week ending June 21 were

rather conflicting, the American Association of Creamery

Butter Manufacturers with 108 plants reporting, showing a

decrease of 1.5% compared with corresponding week last

year and an increase of .32% over the previous week this year.

The Minnesota Cooperative Creameries Association reported

an increase of 4.25% over the previous week. Warm weather

in the producing sections had its effect on the quality of butter

arriving on all markets. Many complaints were registered,

principally on account of sour, old cream flavors, and many

of the ordinarily fine marks would not grade up to the usual

standard.

Lighter current demand during the week under review coupled

with declining prices induced continued storing. The net

into storage movement on the four markets for the month of

June, 1924, will run close to 28,000,000 lbs. as compared with

approximately 29,000,000 lbs. last year.

Arrivals of foreign butter at New York during the week

were 120 casks of Holland unsalted. Approximately 2,800

casks of Danish unsalted are due about July 3. With domestic

markets at their present level and Danish quotations 36–364¢

c. i. f. for salt butter, possibilities of further imports at this

time are slight.

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