Part 4

──────────────┬───────┬────────┬─────────────┬──────────────┬────────── CREAMERY │ │ │ │ │ BUTTER (92 │ New │ │ │ │ San score). │ York. │Chicago.│Philadelphia.│ Boston. │Francisco. ──────────────┼───────┼────────┼─────────────┼──────────────┼────────── Monday │35 │33 │36 │36 │37¼ Tuesday │34 │32½ │35 │35½ │37 Wednesday │34½ │32½ │35 │35½ │37 Thursday │35½ │34 │36 │36 │37¼ Friday │34½ │33½ │35½ │35½ │37 Saturday │34 │33½ │35½ │35½ │37 ──────────────┼───────┼────────┼─────────────┼──────────────┼────────── Average for │ │ │ │ │ week │34.68 │33.17 │35.50 │35.67 │37.08 Previous week │36.08 │34.08 │36.67 │36.67 │39.37 Corresponding │ │ │ │ │ week last │ │ │ │ │ year │42.67 │41.42 │43.08 │43.50 │39.62 ══════════════╪═══════╪════════╪═════════════╪══════════════╪══════════ AMERICAN │ │ │ │ │ CHEESE (No. 1 │ New │ │ │ San │ fresh twins) │ York. │Chicago.│ Boston. │Francisco.[10]│Wisconsin. ──────────────┼───────┼────────┼─────────────┼──────────────┼────────── Monday │20½‒21¼│18½‒19 │21½‒22½ │19¼ │18¼ Tuesday │20¼‒21 │18½‒19 │21½‒22¼ │19¼ │18½ Wednesday │20¼‒21 │18½‒19 │21½‒22¼ │20 │18½ Thursday │20¼‒21 │18½‒19 │21½‒22 │19¾ │18¼ Friday │20¼‒21 │18½‒19 │21½‒22 │19¾ │18 Saturday │20¼‒21 │18½‒19 │21 ‒21½ │19¾ │18 ──────────────┼───────┼────────┼─────────────┼──────────────┼────────── Average for │ │ │ │ │ week │20.67 │18.75 │21.68 │19.62 │18.26 Previous week │21.13 │18.83 │22.00 │19.21 │18.71 Corresponding │ │ │ │ │ week last │ │ │ │ │ year │21.00 │20.44 │21.42 │22.08 │21.04 ──────────────┴───────┴────────┴─────────────┴──────────────┴──────────

Wholesale Prices of Centralized Butter (90 score) at Chicago.

[Cents per pound.]

Monday 32¼ Tuesday 31¾ Wednesday 32¼ Thursday 33 Friday 32¾ Saturday 32¾ ————— Average 32.46

MOVEMENT AT FIVE MARKETS.

[New York, Chicago, Philadelphia, Boston, and San Francisco.]

────────────────────────────┬────────────┬────────────┬──────────── │Week ending │ Previous │ │ July 29. │ week. │ Last year. ────────────────────────────┼────────────┼────────────┼──────────── BUTTER. │ _Pounds._ │ _Pounds._ │ _Pounds._ Receipts for week │ 16,406,388│ 17,848,858│ 13,737,695 Receipts since Jan. 1 │ 406,421,998│ 390,015,610│ 333,511,550 Put into cold storage │ 5,763,120│ 6,227,574│ 4,363,777 Withdrawn from cold storage │ 1,196,527│ 1,090,911│ 2,391,506 Change during week │ +4,566,593│ +5,136,663│ +1,972,271 Total holdings │ 58,529,169│ 53,962,576│ 49,378,903 ────────────────────────────┼────────────┼────────────┼──────────── CHEESE. │ │ │ Receipts for week │ 4,760,350│ 4,368,795│ 4,034,423 Receipts since Jan. 1 │ 113,423,195│ 108,662,845│ 109,844,370 Put into cold storage │ 2,212,808│ 2,824,638│ 2,780,994 Withdrawn from cold storage │ 1,297,907│ 1,185,107│ 1,753,219 Change during week │ +914,901│ +1,639,531│ +1,027,775 Total holdings │ 17,542,277│ 16,627,376│ 15,250,616 ────────────────────────────┼────────────┼────────────┼──────────── DRESSED POULTRY. │ │ │ Receipts for week │ 3,039,791│ 3,237,754│ 2,455,183 Receipts since Jan. 1 │ 107,262,094│ 104,222,303│ 91,359,363 Put into cold storage │ 1,039,930│ 1,211,646│ 745,099 Withdrawn from cold storage │ 2,114,313│ 2,144,566│ 1,518,844 Change during week │ ‒1,074,383│ ‒932,920│ ‒773,745 Total holdings │ 23,316,211│ 24,390,594│ 15,513,172 ────────────────────────────┼────────────┼────────────┼──────────── EGGS. │ _Cases._ │ _Cases._ │ _Cases._ Receipts for week │ 273,535│ 293,498│ 236,614 Receipts since Jan. 1 │ 12,471,456│ 12,197,921│ 11,265,592 Put into cold storage │ 76,188│ 74,222│ 45,631 Withdrawn from cold storage │ 34,863│ 29,352│ 70,151 Change during week │ +41,325│ +44,870│ ‒24,520 Total holdings │ 4,995,153│ 4,953,828│ 3,645,439 ────────────────────────────┴────────────┴────────────┴────────────

CHEESE PRICES LOWER UNDER LIGHT CONSUMPTIVE DEMAND Speculative Demand Also Lacking—Prices Down a Full Cent at Wisconsin Primary Markets.

The light summer consumptive demand without the support of speculative storage activity has been insufficient to clear the current make of cheese during the past few weeks, and as a consequence a weaker feeling developed. During the week ending July 29 this weakness became more pronounced, and prices at the Wisconsin primary markets were lowered as much as a full cent in an effort to stimulate trading.

Buyers, however, were not eager to take on any more goods than could be readily used to meet daily requirements. Although a few cars of fine cheese were purchased early in the week for storage, the majority of buyers felt that the market was on too high a plane for speculation.

SPECULATIVE DEMAND ABSENT.

The absence of speculative support has probably been the largest factor in the weaker country markets, and the reflection of this weakness in the distributing markets. Moreover, movement into consumptive channels has not been active for some time. As storage demand has been lacking and the primary markets have been showing signs of weakening, most buyers at distributing points adopted the policy of hand-to-mouth buying in anticipation of lower prices. Advices at the end of the week indicated that some dealers do not look for a revival of trade until prices at country points reach 16¢, about 2¢ below present prices. However, this sentiment is not universal, and many dealers think that present prices may not be far from bottom.

Embargoes on railroad shipments of perishable foodstuffs in the southern and southwestern sections of the country have reduced shipments below normal requirements, and until the rail strike is ended but little support is expected from those sections. In fact, many in the trade believe that while the strike may cause higher prices in certain consuming centers where supplies are exhausted, embargoes on shipments will tend to weaken the primary markets because of curtailed outlets.

At the close of the week the tone of the market was barely steady. Holders were free sellers, and in many instances were inclined to make concessions in order to keep stocks as low as possible. Little export or import business was reported, although small shipments of Split Twins were imported from Canada. However, both the export and import business was of small consequence and did not affect the market. With production in excess of consumption and speculators off the market, many in the trade expect an unsettled market accompanied by lower prices.

IMPORTS OF EGGS DURING JUNE, 1922.

[Data from the Department of Commerce.]

───────────────────┬──────────┬──────────┬────────── Imported from— │ │Dried and │ │ Eggs in │ frozen │ Egg │the shell │ eggs. │ albumen. ───────────────────┼──────────┼──────────┼────────── │ _Dozen._ │_Pounds._ │_Pounds._ Denmark │ 2,100│ │ Canada │ 16,957│ 12,800│ China │ 72│ 865,000│ 374,140 Hongkong │ 24,319│ 7,636│ 300 Other countries │ 6│ │ ───────────────────┼──────────┼──────────┼────────── Total: │ │ │ June, 1922 │ 43,454│ 885,436│ 374,440 June, 1921 │ 44,941│ 726,596│ 293,948 Jan. to June, 1922 │ 632,189│ 4,840,377│ 4,072,171 Jan. to June, 1921 │ 2,471,167│ 6,198,562│ 1,322,519 ───────────────────┴──────────┴──────────┴──────────

CONDENSED AND EVAPORATED MILK MARKETS STILL SLOW Domestic Products Meeting With More Competition From European Goods—Exports Decrease.

The same relative inactivity which has featured condensed and evaporated milk markets for several months continued during July, and prospects for any materially improved demand are so slight that many of the trade who have held a more or less confident attitude are beginning to lose some of their optimism.

Export demand, upon which canned milk manufacturers have come to depend to a large extent as an outlet for surplus domestic production, has become less of a factor each month. Buying for relief purposes, which constituted such a support to the evaporated milk market especially, has practically ceased, and no additional orders seem to be in sight.

LITTLE FOREIGN DEMAND EXPECTED.

Domestic demand in England is reported as somewhat heavier, but American manufacturers have as competitors an increasing number of European factories which are able to lay down the goods at a lower cost. In fact, foreign demand is not expected to absorb very large quantities of American-made goods in the very near future. Latest export figures are for the month of June and indicate a slight decrease under May and a very large decrease under June, 1921.

Condenseries, however, have had at least one favorable condition during the past few months which has helped considerably to offset the dull demand for canned milk. Prices of both butter and cheese have been at levels that made it possible to divert surplus milk into one or the other of these products, and as a result the production of condensed and evaporated goods has been held as low as was consistent with good business practice. These outlets have been fortunate not only because of the lighter demand which has featured both condensed and evaporated milk markets, but because of the upward tendency of costs of manufacturing as well. Seasonal advances in prices of raw milk are almost at hand, and in the case of condensed milk, sugar is over one-third higher in cost than it was in the spring. The latter has been of considerable influence in diverting trade demand to evaporated milk on account of the lower prices at which this class of goods could be sold.

The summer demand from the domestic trade for condensed and evaporated milk has not been up to expectations. The icecream trade especially has taken much smaller quantities of goods than condensing firms had anticipated. This is explained partly by the fact that powdered milk is being more widely used in the manufacture of ice cream, and partly by the relatively cool weather in various consuming sections of the country.

Summarized figures from manufacturers indicate that condensing operations have been carried on conservatively and that due consideration has been given to the anticipated and actual dull summer demand from all classes of trade. Although total stocks on July 1, as indicated in the accompanying tables, reveal a moderately heavy increase over June 1, it must be borne in mind that the heavy producing season has just passed. It is to be noted also that while total stocks on July 1 were heavier than on the first of the previous month unsold stocks were lighter. Furthermore, a comparison of total stocks on July 1 this year and last shows a decrease of approximately 26%. Therefore, from the statistical standpoint, markets were, perhaps, in better shape on July 1 than they were June 1.

Stocks and Exports of Condensed and Evaporated Milk.

[In thousands of pounds; i. e., 000 omitted].

───────────────────────┬───────────────┬───────────────┬─────────────── Stocks. │ │ June 1, │ │ July 1, 1922. │ 1922.[11] │ July 1, 1921. ───────────────────────┼───────┬───────┼───────┬───────┼───────┬─────── │ Case │ Bulk │ Case │ Bulk │ Case │ Bulk │goods. │goods. │goods. │goods. │goods. │goods. ───────────────────────┼───────┼───────┼───────┼───────┼───────┼─────── CONDENSED. │ │ │ │ │ │ Total stocks │ 21,706│ 22,078│ 25,032│ 12,520│ 33,670│ 27,981 Total unsold stocks │ 16,325│ 16,215│ 21,775│ 9,360│ 28,577│ 21,567 Total unfilled orders │ 183│ 229│ │ 422│ 460│ │ │ │ │ │ │ EVAPORATED. │ │ │ │ │ │ Total stocks │141,380│ 499│135,895│ 370│169,576│ 1,331 Total unsold stocks │ 84,234│ 351│109,238│ 362│142,215│ 1,318 Total unfilled orders │ 1,196│ │ 1,315│ │ 2,342│ ═══════════════════════╪═══════╧═══════╪═══════╧═══════╪═══════╧═══════ Exports. │ June, 1922. │ May, 1922. │ June, 1921. ───────────────────────┼───────────────┼───────────────┼─────────────── Condensed milk │ 4,817│ 6,678│ 8,060 Evaporated milk │ 10,890│ 9,032│ 13,640 ───────────────────────┼───────────────┼───────────────┼─────────────── Total │ 15,707│ 15,710│ 21,700 ───────────────────────┴───────────────┴───────────────┴───────────────

Prices to Producers at Condenseries for 3.5% Milk.

[Per 100 pounds.]

───────────────────┬─────────────────────────┬───────────────────────── Geographic section.│By manufacturers of case │By manufacturers of bulk │ and bulk goods. │ goods only. ───────────────────┼────────────┬────────────┼────────────┬──────────── │ July. │ June. │ July. │ June. ───────────────────┼────────────┼────────────┼────────────┼──────────── New England │ $1.73│ $1.53│ │ Middle Atlantic │ 1.83│ 1.85│ $1.76│ $1.62 South Atlantic │ 1.69│ 1.64│ 1.45│ 1.45 East North Central │ 1.58│ 1.42│ 1.71│ 1.62 West North Central │ 1.59│ 1.53│ 1.56│ 1.56 Western (North) │ 1.65│ 1.56│ 1.71│ 1.54 Western (South) │ 4.61│ 1.42│ │ ───────────────────┼────────────┼────────────┼────────────┼──────────── United States │ 1.60│ 1.45│ 1.72│ 1.61 ───────────────────┴────────────┴────────────┴────────────┴────────────

Wholesale Prices of Condensed and Evaporated Milk.

[To domestic trade.]

───────────────────┬─────────────────────────┬───────────────────────── Geographic section.│Sweetened condensed. Case│ Unsweetened evaporated. │ of 14‒oz. cans. │ Case of 16‒oz. cans. ───────────────────┼────────────┬────────────┼────────────┬──────────── │ June. │ May. │ June. │ May. ───────────────────┼────────────┼────────────┼────────────┼──────────── New England │ $5.12│ $5.10│ $3.91│ $3.89 Middle Atlantic │ 5.18│ 5.03│ 3.87│ 3.87 South Atlantic │ 5.27│ 5.25│ 3.91│ 3.95 East North Central │ 5.34│ 5.26│ 3.75│ 3.73 West North Central │ 5.20│ 5.13│ 3.79│ 3.76 South Central │ 5.45│ 5.41│ 3.95│ 3.95 Western (North │ │ 4.70│ 4.03│ 3.89 Western (South │ │ │ 4.06│ 4.00 ───────────────────┼────────────┼────────────┼────────────┼──────────── United States │ 5.24│ 5.17│ 3.89│ 3.86 ═══════════════════╧════════════╧════════════╧════════════╧════════════

GREAT BRITAIN’S BUTTER IMPORTS.

(Concluded from front page.)

the shifted seasonal trend of England’s butter imports, for if the imports follow the same seasonal trend in 1922 as during the period from 1917 to 1921 England had already received at the end of June two-thirds of that country’s foreign supply for the present year.

During the first fire months of 1922 England received 60,000,000 lbs. from Denmark, compared with 48,000,000 lbs. during the corresponding period of 1921. Danish exporters in recent years have scattered their exports to various other countries, and while not so dependent upon England for a market as previously, could at any time take advantage of any favorable offer from their long-established British trade. The flush of the butter production in Denmark was reached this year by June 1 and the competition met in the English market is now not so largely European as formerly, which doubtless leaves Denmark with some seasonal advantage.

The prospective demand for butter in England during the rest of this year depends largely, of course, upon the consumer’s purchasing power.

MILK POWDER REPORT FOR JULY.

Manufacturers’ Stocks of Powdered Milk.

───────────────────┬─────────────────────────┬───────────────────────── │ Whole milk powder.│ Skimmed milk powder. ───────────────────┼────────────┬────────────┼────────────┬──────────── │Case goods. │Bulk goods. │Case goods. │Bulk goods. ───────────────────┼────────────┼────────────┼────────────┼──────────── Total stocks,[12] │ │ │ │ July 1: │ _Pounds._│ _Pounds._│ _Pounds._│ _Pounds._ 1921 │ 393,090│ 854,980│ 245,481│ 11,039,889 1922 │ 110,434│ 1,269,262│ 194,479│ 7,484,849 │ │ │ │ Unsold stocks,[13] │ │ │ │ July 1: │ │ │ │ 1921 │ 393,090│ 128,980│ 245,481│ 8,016,419 1922 │ 110,434│ 538,588│ 133,101│ 3,341,739 ───────────────────┴────────────┴────────────┴────────────┴────────────

Wholesale Prices of Skimmed Milk Powder During June, 1922.

[Cents per pound.]

───────────────────┬─────────────────────────┬───────────────────────── │ Case goods.[14] │ Barreled goods. ───────────────────┼────────────┬────────────┼────────────┬──────────── Geographic section.│ │ Bulk of │ │ Bulk of │ │sales, fresh│ │sales, fresh │ Range.[15] │ goods.[16] │ Range.[15] │ goods.[16] ───────────────────┼────────────┼────────────┼────────────┼──────────── New England │ 33│ 33│ 7½‒11│ 8 ‒11 Middle Atlantic │ 15‒33│ 15‒33│ 7 ‒11│ 7 ‒11 South Atlantic │ 33│ 33│ 7¾‒11│ 8½‒11 East North Central │ 33│ 33│ 6¾‒11│ 7½‒11 West North Central │ 33│ 33│ 6 ‒11│ 8 ‒11 South Central │ 33│ 33│ 7¾‒11│ 9 ‒11 Northwestern │ 36│ 36│ 5 ‒12│ 5 ‒12 Southwestern │ 20‒36│ 20‒36│ 6½‒12│ 6½‒12 ───────────────────┴────────────┴────────────┴────────────┴────────────

Prices of other powdered milk products ranged as follows: Whole milk powder, 30¢‒58¢ per 1‒lb. can for case goods, and 22¢‒28¢ for goods packed in barrels; dried buttermilk 10½¢‒12¢ for case goods, and 3½¢‒11¼¢ for goods packed in barrels.

Skimmed milk powder for export trade was reported sold at 10¢‒11¼¢ per lb. f. a. s. Atlantic seaboard, and 7½¢ per lb. f. a. s. Pacific seaboard.

Exports of Powdered Milk During June, 1922.

─────────────────────────┬───────── Destination. │ Pounds. ─────────────────────────┼───────── France │ 23,023 Germany │ 361,110 Norway │ 1,500 Netherlands │ 227,400 United Kingdom │ 86,200 Canada │ 2,898 Newfoundland and Labrador│ 1,974 Panama │ 3,009 Mexico │ 26,469 Cuba │ 1,670 Peru │ 4,442 Venezuela │ 4,010 China │ 46,265 Hongkong │ 5,000 Japan │ 21,090 Philippine Islands │ 695 Other countries │ 5,870 Total: │————————— June, 1922 │ 822,625 June, 1921 │ 733,577 Jan.-June, 1922 │4,610,082 Jan.-June, 1921 │2,735,869 ─────────────────────────┴─────────

Canada’s Storage Stocks of Butter on July 1 Below last Year.

The quantity of creamery butter in storage throughout Canada on July 1 was 10,178,891 lbs., while that of dairy butter was only 426,671 lbs. Comparative figures show this to be a decrease of 34% in the case of creamery butter and 18.83% in the case of dairy butter from the amounts held in storage on the corresponding date last year.

* * * * *

=The average quantity of peanuts= exported per annum from Senegal during the five years 1916‒1920 was 190,512 metric tons, according to the American Consul at Dakar, Senegal. Peanuts constitute the most important export crop of Senegal, most of the exportable surplus going to England and France.

_Fruits ^{and} Vegetables_ SHIPMENTS CONTINUE HEAVY; WHITE POTATO PRICES SLUMP Car-lot Movement So Far This Season about 28,000 Cars Larger than to Same Time in 1921.

Shipments of 14 lines of fruits and vegetables during the week ending July 29 increased nearly 300 cars over the previous week, having filled 14,531 cars. This is about 930 cars less than during the corresponding period last year, but the total movement of these 14 products this season to July 29 is 28,000 cars ahead of last season to the same date.