The Fats and oils situation

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Material Information

Title:
The Fats and oils situation
Physical Description:
301 v. : ill. ; 26-28 cm.
Language:
English
Creator:
United States -- Bureau of Agricultural Economics
United States -- Agricultural Marketing Service
United States -- Dept. of Agriculture. -- Economic Research Service
United States -- Dept. of Agriculture. -- Economics, Statistics, and Cooperatives Service
United States -- Dept. of Agriculture. -- Economics and Statistics Service
United States -- World Food and Agricultural Outlook and Situation Board
Publisher:
The Bureau
Place of Publication:
Washington
Publication Date:
Frequency:
frequency varies

Subjects

Subjects / Keywords:
Oil industries -- Periodicals -- United States   ( lcsh )
Oils and fats, Edible -- Economic aspects -- Periodicals -- United States   ( lcsh )
Genre:
federal government publication   ( marcgt )
periodical   ( marcgt )
serial   ( sobekcm )

Notes

Statement of Responsibility:
United States Department of Agriculture, Bureau of Agricultural Economics.
Dates or Sequential Designation:
FOS-1 (Mar. 1937) - FOS-301 (Oct. 1980).
Issuing Body:
Issued by: Agricultural Marketing Service, 1954-Mar. 1961; Economic Research Service, May 1961-<Oct. 1977>; Economics, Statistics, and Cooperatives Service, <May 1978>-July 1980; Economics and Statistics Service, Oct. 1980.
General Note:
"Approved by the World Food and Agricultural Outlook and Situation Board," Oct. 1977-Oct. 1980.
General Note:
Title from caption.
General Note:
Item 21-D.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 000502965
oclc - 01588232
notis - ACS2699
lccn - 46039840 //r82
issn - 0014-8865
sobekcm - AA00005305_00026
Classification:
lcc - HD9490.U5 A33
ddc - 380.1/41385/0973
System ID:
AA00005305:00026

Related Items

Succeeded by:
Fats and oils outlook & situation

Full Text





S...UNITED STATES DEPARTMENT OF AGRICULjTUR
Bureau of Agricultural Economics
.*W; Washington
UNIV CF PLLIB
DIOCMES OhPT.
F08-23 ranuary 19 19


tw" ?-.--------------------------------- ---- -- ---
THE F A T S AND OILS 8I TLU A AP. jpSITORY




Prices of most fats and oils, other than drying oils, averaged

......: lightly lower in December 1938 than in November and were markedly lower

than prices in December 1937. The most significant change in fat prices

however, according to the Bureau of Agricultural Economics, was the rela-

tionship of lard and cottonseed oil prices.

: The price of refined lard at Chicago in every month of 1937, and

in the first 3 months of 1938, was from four-tenths of a cent to 3 cents

a pound higher in price than edible cottonseed oil in the same uonth at

the same market. After April 1938 the price differential was in favor

of refined cottonseed oil. The price of cottonseed oil was 1 cent higher

than lard in December 1938, and for the calendar year 1935 averaged one-

tenth of a cent higher.

Similarly compounds and vegetable cooking fats averaged 2.2 cents

lower in price in 1938 than in 1937, but in 1937 they averaged three-

tenths of a cent lower than refined lard at Chicago while in 1938 they

averaged 1 cent higher in price than lard.








Lard production
The increase in hog slaurhter in the 1938-39 hog marketing year, which

began October 1, 1938, will b, reflected in a considerable increase in lard pro-

duction. It is probable that lard production from federally inspected hog

slaughter in 1938-39 ..ill total bet',een 1.15 and 1.2 billion pounds. This will

be from 15 to 20 percent larger than the production of about 1 billion pounds under

Federal inspection in 1937-38. The average lard production under Federal inspec-

tion in the 5 years ending in 1933-34, before hog production was curtailed by

drought, vas about 1.56 billion pounds.

The Deceaber pig crop report indicated thet the number of sows farrowing
in the spring of 1939 will be about 21 percent larger than the number that far-
rowed in the spring of 1938. It is not unlikely that the total number of pigs
raised in 1939 will be about equal to the 1923-33 av.rage. This Till menn a
further large increase in hog slaughter and in lard production in 1939-40.

Cottonseed oil production and consumption
Production of crude cottonseed oil during the first 5 months (August through
Decermber)'of the crop year 1938-39 totaled 809 million pounds compared with 1,093
million pounds in the corresponding months of 1937-38.

Utilization of refined cottonseed cil has been dropping at the same tine
that lard prices have been goinc do'n. A prelimin-ry estimate places apparent
disappearance in Deconber 193;. -.t only about 90 million pounds compared with 143
million in Dece-ber 1937, ari t..o total apparent disappearance from August through
December 1938 was about 570 million pounds compared with 815 million in the cor-
responding months of 1937.

Stocks
Stocks of cottonseed on hand at mills at the end of Decaubor 1938 totaled
1,352,000 tons compared 'Ath 1,672,000 tons at the end of December a year ago. In
terms of oil equivalent, stocks of seed on hand at the end of 1938 represented
more than 100 million pounds less oil than was represented by cottonseed stocks
at mills December 1937, but stocks of refined oil on hand are Lore than 100 mil-
1Ion pounds 1 rger than they were a year ago.


: A revised edition of State and Federal Legislation :
: and Decisions Relatin'-: to Ol.omargarine has been prepared r
a and in a few days will be available on request to the
I Bureau of Agricultural Economics. This is a brief sunary:
: of laws in force January 1939, some effects of recent I
: legislation, and a short survey of earlier legislation a
: a-.d relan.tions.__ __


FOS-23


- 2 -






Table 1 .- Price per pound of specified fats and oils, November December,
and annual, 1937-38

S1937 1938
Fat or oil A: nnul: Nov. Doc. Arnnual: Nov. Doec.
Cents Cents Cunts : ns Cents e Cents


oaestic prices -
Butter, 92 score, N.Y,
Oleomargarine, domestic
vegetable, Chicago
Lard, prime steam, Chicago
Lard refined, Chicago
Lard compound, Chicago
Coconut oil, edible, N.Y.
Cottonseed oil, crude, fob SE mill
Cottonseed oil, psy, N.Y.
Soybean oil, refined, N.Y.
Peanut oil, domestic refined, N.Y.
Rape oil, refined, N.Y.
Oleo oil, No. 1, IU.Y.
Oleostearine, bbls., N.Y.

Corn oil, refined, N.Y.
Olive oil, edib.e, N.Y.
-Teaseed oil, crude, !i.Y.


Coconut oil, crude, Pacific Co .st
Tallow, inedible, Chicago
Grease, house, N.Y.
Pain il, crude, NI.Y.
Olive oil foots, bbls., N.Y.
Palm-kernel oil, denatured, N.Y.
Babassu oil, tanks, N.Y.
Sardine oil, ti-LLks, Pacific Co-.st

Linseed oil, raw, Minneapolis
Tung oil, drums, N.Y. 3/
Perilla oil, drums, N.Y.
Soybean oil, crude, .fob mills
Menhaden oil, crude, fob Balto.

Foreign prices 4/
Cotton oil, crude, naked, Hull
Copra, Resecada, P.I.
Pain oil, crude, Hull
Whale oil, crude, No. 1, Rotterdan
Tallow beef, fair-fine, London
Linseed oil, naked, Hull


e


*1


5.83
2.95
6.00
4.68
5.77
6.46


: 34.39

: 15.77
a 11.33
12.67
* 12.42
i 8.53
S8.01
* 9.20
: 10.90
: 12.14,
a 12.27
: 13.06
: 9.73

: 1].47
: 31.88
: 10.79

: 5.96
: 7.51
: 7.40
: 5.65
: 11.10
I 5.99
:l/g.88
:6.00

: 10.33
: 15.70
: 12.10
S8.13
:5.2a


38.07

15.12
9.50
11.38
10.38
.6.25
.5.98
.7.10
8.75
10.31n
12.29
12.75
9.06

9.84
31.37n
9.31

4.03
5.39
.5.12
4.16
10.06
4.72n
2/7.44
4.77

10.20
15.62n
12.75
5.62
4. 63n


4.89
5/2.03
5.25
4.20
5.28
6.75


38.89

15.50
8.27
9.78
10.45
6.25
5.94
7.10
8.39
10.OOn
12.07
12.10
8.12

9.35
31.33n
9.12

3.67
5.os
4.49
4.0on
9.75
4.50n
6.76
4.93

10.00
14.85
11.52
5.25
4. Sin


4.38
1.81
4.85
4.13
5.10
6.29


27.27 28.02


S27.94

S15.48
S8.03
S9.20
S10.17
S5.38
6.71

g 8.44
10.20
11.03
S9.12
7.18

9.75
:26.02
S7.81

3.14
S5.03
4 .67
3. 3.83
8.05
: 3.91
6.44
4.70

8.74
13.52
: 10.42
1 5.59
S4.35


5/4.o04
:5/1.38
:5/3.96
:5/3.13
:5/4.31
:5/5.30


15.40
7.06
8.33
9.75
4.38
6.47
7.40
.7.90
10.12
10.67
.9.00
6.75

9.59
25.07
7.50

2.81
5.22
5.02
3.59
7.12
3.55n
6.12n
3.90

8.10
14.50
9.94
5.03
4. 0on


3.96
5/1.31
3.62
3.01
4.15
4.67


3f Futures, average for 11 months. 2/ Futures.
3/ During 1937, quoted as "Atlantic Co.st."
Converted to U.S. cents p.r pound at current monthly rates of exchange.
Preliminary.


F0823


- 9 -


14.75
6.72
7.94
9.56
4.28
6.42

7.90
10.12
10.83
8.70
6.91

9.34
25.07
8.36

2.79
5.14
5.04
3.68
7.15
3.37n
6.12n
4.09n

8.34
14.98
9.75
5.14
4.11n


3.76
1.22
3.47
2.90
4.09
4.70


n





FOS-23


Table 2.- Price per pound of lard, cottonseed oil, and vegetable
cooking fats, by months, 1937-38


S Cottonseed oil


a Compounds
I and


1/:


I









I
I




,1
I






I


Date :Prime steam'
Chicago
SCents
)37 -
;an. 1 13.6
eb. a 12.4
dar. 1 12.5
Apr. 11.6
day a 11.9
rune a 11.9
uly : 12.2
Aug. a 11.3
Sept. a 11.0
)ct. a 10.0
qov. a 9.5
)eo. t 8.3
Av. 11.3
)3 -
ran. I a.3
Feb. I a.o
Aar. a 3.8
Ipr. 1 8.2
Aay 1 8.1
rune 8.4
ruly Sa .9
kug. 3 8.1
Sept. a 7.8
)ct. a 7.4
qov. I 7.1
)ec. 1 6.7
Av. 8.0
*


Refined,
Chicago
Cents


14.0
13.3
13.2
12.6
12.9
13.2
13.6
13.0
13.0
12.0
11.4
9.8
12.7


Crude, at
mills
Cents

10.4


9.9
9.9
9.5n
8.9
8.2n
8.0On
7.On
6.2n
6.in
6. r.
5.9
8.0


10.1 6.2
10.1 I 6.7
10.0 : 7.0
9.4 6.9
9.2 7.0
9.4 a 6.98
9.7 7.3
9.0 1 6.9
8.9 6.5
8.5 : 6.3
8.3 6.5
7.9 : 6.4
9.2 6.7


Compiled as follo7st
Lard, prime stoam IIatLonal Provisioner. Average of weekly
quot-ti.-,ns during the month.
Lard refined Bureau of Agricultural Economics. Average of weekly
average of daily luotatiojns during the nonth.
Cottonseed oil, crud' Oil, Paint, and Drug Reporter. Average of
quotations for S.I'.:- .7s during: the month.
Cottonse'd oil, edible ihtionai. Provisioner. Average of weekly
range during the jo-.th.
Compounds Bureau of Agricultural Economics.


Lard


~


:Deodorized,t vegetable
I edible, a cooking
: Chicago I fats
Cents a Cents

12.4 a 13.7
12.3 : 13.8
12.1 13.7
11.8 : 13.7
11.2 a 13.2
10.9 13.4
10.5 a 13.2
10.2 : 12.2
9.8 a 11.0
9.6 10.2
9.6 10.4
__ 9.4 : 10.4
10.8 12.4


9.4 10.2
9.6 a 10.3
9.6 10.2
9.4 10.3
9.4 a 10.2
9.4 10.2
9.6 a 10.3
9.4 a 10.6
9.1 10.2
9.1 : 10.0
8.9 9.8
8.9 a 9.6
9.3 10.2


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F' _n a-A


UNIVERSITY OF FLORIDA
II111llill ll11111111IIIIIII 1
3 1262 08904 2781


ruc- t

Product )n of oleonmrgarine in the 2 months October and November 1
1938 was lower than production in the corresponding 2 months of any yeS*,
since 1934. Although the amount of cottonseed oil used in narufacture I4
November was slightly larger than in any month since February of 1938,
there was no significant change in the percentage proportions of the
various ingredients used. Throughout the year, up to November, there haq.
been a slight upward trend in the consumption of imported materials.


Table 4 .- Oleomargarine:
United States,


Production and materials used in nanufaotmse,
October and November, 1937 and 1938


Ito


Oleo oil
Oleostcarine
Lard neutral
01oo stock
Total animal

Cottonseed oil
Soybe.nL oil
Peanut oil
Corn oll
Soyboan stoarine
Tota. donostic

Coconut oil
Pala-kernel oil
Babassu oil
Total foreign
Total fats and oi

Milk
Salt and othcr mi


Production of ole


Preliminary.


1: 937 I/ : 1938 11
C : Oct. : Nov. I Oct. I Nov.

S1,000 Ib. 1,000 lb. 1,000 lb. 1.000 lb.
3 I
: 773 650 z 1,026 940
: 300 309 : 344 262
: 120 160 110 112
: 100 59_j 122 10
: 1,293 1,178 a 1,602 .2

20,154 20,339 : 10,380 4,0o07
2,990 2,186 : 3,938 40,303
55 240 : 215 :,246
75 109 --- 114
2/ : -: 11 7
vegotab e 3/ : 23.)47 22.874 : 14.544 15.4T

6,964 5,611 8,120 7,023
231 3 3 75 18
S 992 501 : 638 643
vegetable / : 8,187 6495 a 9,133 j7684
Is 32,954 30,547 25,279 24,584

7,497 7,037 6,247 ,838
see ane us t 2,098 1,878 : 1,476 ,366


ouargarine : 40,4-.5 37,475 : 31,092 30,221


9 ___


'I


2/ May be either foreign or domestic oil. Arbitrarily used as domestic.
/Ordinarily doneatically produced.
_/ Not domestically produced.

C.Gnpil.d and computed from Bureau of Int..cnal Revoeu records and Internal
Revenue Bulletin,


--------


6_