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_00058
Classification:
lcc - HD9490.U5 A33
ddc - 380.1/41385/0973
System ID:
AA00005305:00058

Related Items

Succeeded by:
Fats and oils outlook & situation

Full Text







. i,-- -- SITUATION

BUREAU OF AGRICULTURAL ECONOMICS
S UNITED STATES DEPARTMENT OF AGRICULTURE


,,,, FEBRUARY 1943


VEGETABLE AND ANIMAL FATS AND OILS USED IN OLEOMARGARINE
AS PERCENTAGE OF TOTAL FATS AND OILS. 1922-42
PERCENT I I I 1


1926


1930 1934
DATA FOR 1942 ARE PRELIMINARY


1938


1942


U.S. DEPARTMENT OF AGRICULTURE


NEG 32173 BUREAU OF AGRICULTURAL ECONOMICS


In kB42, with imports of fats and oils reduced and coconut oil excluded from
use in oleomargarine after March, a record high proportion of domestic oils was used
in the manufacture of oleomargarine. Production and consumption of oleomargarine
will be much greater in 1943 than in any earlier year. Cottonseed and soybean oils
will be the principal ingredients, as in the past 3 years.


FPS-72


- Domestic animal fats


1922






Table 1.- Wholesale price per pound of rats and oils at specified market, and index
numbers of prices, January 1941 and 1942, November-January 1942-43
PRICES
Item : January 1942-43
: 1941 : 1942 :November : December : January


Cents
Butter, 92-score, Chicago ......................................... 30
Butter, 92-score, New York ........................................: 31.1
Oleomargarine, dom. veg., Chicago .................................: 14.5
Compounds (animal and veg. cooking fats), Chicago ................: 10.3
Lard, loose, Chicago .............................................: 5.6
Lard, prime steam, tierces, Chicago ...............................: 5.2
Lard, refined, cartons, Chicago ...................................: 6.8
Oleo oil, extra, tierces, Chicago ..................................: 7.0
Oleostearune, bbL., N.Y. ..........................................: 6.4
Tallow, edible, Chicago ...........................................: 5.4

Corn oil, crude, tanxa, f.o.b. mills ..............................: 6.7
Corn oil, refined, bbl., N.Y. ....................................: 9.1
Cottonseed oil, crude, tan.s, f.o.b. S. E. mills .................. 5.4
Cottonseed oil, p.s.y., tank cars, N.Y. ...........................: 6.4
peanut oil, crude, tanks, f.o.b. mills ............................: 5.6
peanut oil, om., refined, bbl., N.Y. .............................: 8.2
Soybean oil, crude, tank cars, midwestern mills ...................i 5.1
Soybean oil, dom., crude, drums, N.Y. .............................: 6.9
Soybean oil, refined, drums, N.Y. .................................: 8.2

Coconut oil, Manila, crude, tanks, f.o.b. pacific Coast 2 .......: 5.9
Coconut oil, manila crude, bulk, c.i.f. N.Y. 2/ ................: 3/ 6.3
Coconut oil, Manila, refined, edible, tank cars, f.o.b. N.Y. 2/ ...: --
Olive oil, edible, drums, N.Y. ..................................... 43.2
Olive oil, inedible, drums, N.Y. ..................................: 31.2
Olive-oil foots, prime, druais, N.Y. ...............................: 10.2
Palm oil, Niger, crude, drums, N.Y. 2' ............................: 7..
Rape oil, refined, denatured, drurs, N.Y. ...........................: 12.8
Rape oil, blown, drums, I.Y. ......................................: 17.5
Sunflower oil, tank cars, f.o.b. N.Y. ...............................: -
Teaseed oil, crude, drums, N.Y. ...................................: 17.5

Tallow, No. 1, inedible, Chicago .................................: 4.7
Grease, k Mhite, Chicago .......................... ................ 4.8
Menhaden oil, crude, tanks, f.o.b. Baltimore ......................: 4.4
Sardine oil, crude, tanks, Pacific Coast .......................... 5.4
Whale oil, refined,.bleached winter, drums, N.Y. ................: 9.5

Linseed oil, raw, Lank cars, Minneapolis ..........................: 8.7
Linseed oil, raw, drums, carlots, N.Y. ...........................: 5 9.3
Perilia oil, crude, drums, N.Y. ...................................: 18.0
Oiticica oil, arums, N.Y. ........................................: 19.0
rung oil, arums, N.Y. .................. ..........................: 27.2

Castor oil, No. 3, bbl., N.Y. ........................... ..........: 9.8
Castor oil, No. 1, tanks, N.Y. ................ ......... .........: 9.5
Castor oil, dehydrated, drums, carlots, N.Y. ......................: 13.1
Cod-liver oil, med. U.S.P. bbl., N.Y. .............................: 31.1
Cod oil, Newfoundland, drums, N.Y. ................................: 8.4


INDEX NUMBERS (1924-29 100)


Eight domestic fats and oils (1910-14 = 100) ......................
Eignt domestic fats and oils ......................................

All fats and oils (27 items) ......................................:
Grouped by ori in
animall oriLn:
Animal fats ......................................................
Marine animal oils ..............................................
Vegetable oils, domestic ........................................
Vegetable oils, foreign .........................................
Grouped by use:
Butter ......................................................... .
Butter, seasonally adjusted .....................................:
Lard ............................................................:
Other food fats ..................................................
All food fats ..................................................
Soap fats ........................................................
Drying oils .......................................................
Miscellaneous oils ..............................................:
All industrial fats and oils ..................................


Cents
38.2
35.4
18.5
16.8
11.0
10.7
12.9
11.8
10.8
9.6

12.4
15.1
12.6
13.7
13.0
16.4
11.4
12.8
14.0


75.7
58.4
18.9
12.4
15.4
18.0

30.0

9.1
9.2
8.2
8.4
1U.1

10.6
S10.8
24.2
24.1
39.0

12.5
11.8
16.9
35.6
10.8


Cents
45.8
46.5
19.0
17.0
12.8
13.8
15.6

10.5


12.8
15.5
12.8
14.0
13.0
17.0
11.8
13.0
14.2

11.0
U1.4
4/ 12.8
58.4
51.2
19.0
12.1
16.0
18.2
14.3
29.0


8.8
8.8
8.9
11.1

12.1
5/ 12.8
24.5
25.0
39.0

13.8
13.0
18.6
36.4
12.0


87 122
62 87

67 96

63 82
89 121
66 123
95 154

69 80
68 79
40 82
71 140
65 91
66 126
95 118
84 107
79 122


Cents Cents
45.8 I i.
46.6 47.6
19.0 19.0
17.0 17.0
12.8 12.8
13.8 13.8
15.6 15.6

10.5 10.5


12.8
15.5
12.8
14.0
13.0
17.0
11.8
13.0
14.2

11.0
11.4
4/ 12.8
58.4
51.2
19.0
12.1
16.0
18.2
14.3
29.0


8.8
8.8
8.9
11.1

12.1
/ 13.0
24.5
25.0
39.0

13.8
13.0
18.6
36.4
L2.0


12.8
15.5
12.8
14.0
13.0
16.8
11.8



11.0
11.4
/ 12.8
59.3
50.0
19.0
12.1
16.0

14.3
29.0

8.4
8.8
8.8
8.9
11.1

12.9
13.6
24.5
25.0
39.0

13.8
13.0
18.6
36.4
12.0


150
107

112

104
127
128
145

104
94
105
134
110
119
y 134
117
6/ 125


Frices compiled from Oil, Paint and Drug Reporter, The National Provisioner, The Journal of Commerce (New York), and
reports of the Food Distribution Administration and Bureau of Labor Statistics. Prices quoted include excise taxes
ano duties where applicable. Index numbers for earlier years beginning 1910 are given in Technical Bulletin
No. 737 (1940) and The Fats ana OLls Situation beginning December 1940.
1/ Reflects all types of wholesale trading for cash or short-time credit. Previous quotations refer to open
marKet sales only. 2, Three-cent processing tax added to price as originally quoted. 2/ Tanks, N.Y. / Quoted in
drums. 5/ Converted to new basis of quotation. 6 Revised.






FOS-72 3 -

------------_,-----_ ----------------
THE. -AT S AN D O ILS S I TUATI O N
------_ ----------_---_------------------ _I-------

Summary

Production goals for soybeans and flaxseed were revised upward in

January to help meet growing needs for fats and oils and high-protein feed-

stuffs. The new goal for soybeans, 12 million acres harvested for beans, is

L.5.million acres higher than the goal announced*last November. The revised

flaxseed goal, 5,-5 million acres planted, is up'half a million acres. Other

goals for oilcrops remain unchanged at 5.5 million acres of peanuts picked and

threshed an4 22.5 million acres of cotton planted. With normal yields, these

acreages would produce about 4.2 billion pounds of vegetable oil compared with

an anticipated production of about 3.8 billion pounds in.the 1942-43 season.

In addition, nearly 300 million pounds of vegetable oil will be obtained in

both.1942-43 and 1943-44 from corn grinding operations, olive pressings, andr

the crushing of tung nuts and other vegetable oilseeds.

Prices of peanuts grown in 1943, whether for the edible trade or for

oil, wil. be supported at.an.average of at least $129 per ton which is 85

percent of the January 15 parity price for all peanuts. If parity advances

between January 15 and July 15, the support level will be raised accordingly.

Incentive payments have been recommended by the Department of Agriculture for

farmers who plant in excess of 90 percent of their 1943 farm goals for soy-

beans, peanuts, and flaxseed. For each acre above 90 Lercent but not in

excess of 110 percent of the individual farm goal, farmers would receive a

payment of $15 for soybeans, $30 for peanuts, and $10 for flaxseed,





FEBRUARY 1943 4 -

Reflecting sharply smaller receipts of flaxseed in terminal markets,

prices of linseed oil and flaxseed continued to rise in January and early

February, Prices of other fate and oils remain unchanged at ceiling levels.

Production 9f oleomargarine in 1942 reached 426 million pounds, a

new peak. Nearly 65 million pounds-of this total, however, was colored oleo-

margarine, produced almost entirely for export. Domestic consumption amounted

to about 2.7 pQunds per capital, which was the average-.yearly consumption in.

1937-41. In 1943, production of oleomargarine -for civilian consumption will

be increase te p-erhaps 4.5 pounds per capita,-although under the tenas of the

order limiting-manufacturers' use of fats and oils. it is possible for the out-

put to reach 4.6 pounds per capital. The total.supply of butter and-margarine

available for civilian consumption probably will be near .7.5 pounds per

capital, compared with 19.4,pounds in 1937-41.

-- February 82, 1943

REVIEW OF RECENT DEVELOPMENTS

3ACYGROUTD.- With the entrance of Lhb United Stspts into
the war in December 1941 and the subsequent loss of most
of our imports from the Far East, our fats situation was
transformed from one of comparative abundance to one of
tight supply. Requirements mounted under the stimulus of
war activity and rising incomes. In September 1942 a
general order was issued limiting manufacturers' use of fats
and oils to conserve supplies. Production of fats and oils
was increased nearly 20 percent in the 1942 crop year. Price
ceilings on fats and oils, instituted in December 1941, were
revised upward on several occasions during 1942. Prices of
all fats and oils except linseed oil are now covered by
specific ceiling orders.

Prices of Linseed Oil and Flaxse-d
Continue to Advance

Reflecting higher prices for linseed oil, the index number of whole-
sale prices of 27 mpjor fats and oils in January stood at 113 percent of the
19?4-29 average, 1 ;oint higher than a month earlier and 17 points above a
year earlier. The price of linseed oil in drums, carlots, at New York
averaged 13.6 cents per pound in 'January, compared with 13.0 cents in
December (new basis of quotation). A further advance to 14.0 cents per pound


















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....... ......... 24k,.,

31 TO
...........
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VOtoda donoontftte

Total. Cue VAS
TOW. all LOtlil 10 33* 519 T**P9

Uod fr.om Interma Siven-ae riaieord4 and Int6rtal Revenue

Total of -Anrounde d xwOerjk+
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