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_00060
Classification:
lcc - HD9490.U5 A33
ddc - 380.1/41385/0973
System ID:
AA00005305:00060

Related Items

Succeeded by:
Fats and oils outlook & situation

Full Text







-~--?------- -- S I T1.ATIT)'
..: UR .. EAIt OF AGRICULTURAL ECONOMICS '4
.oo ., ..,,, ..... :! ,
.N.:ITED STATES DEPARTMENT OF AGRICULT ';I#t

AFEBRU 1944


iR 7ATS AND OILS: FACTORY AND WAREHOUSE STOCKS,
|L AW AS A PERCENTAGE OF ANNUAL DISAPPEARANCE,
S Itl1TED STATES, 1943 AND AVERAGE 1935-39
I.I I I| PERCENT


-2,--- A. 1935-39'

. .


22


JULY I DEC. 31 APR. I OCT. I
1' APR. .OCT. JAN. JULY 1 DEC. 31
S*.. APPAAAENT OB ESTIC DISAPPEAlARIt PLUS REPORTS AND SHIPMENTS
S' -. ia IT CORASCT FOR TRBaD

jIiB I NEIG. 43434 BUREAU OF AGRICULTURAL ECONOMICS

I~ ~'~ii fi at i aail. in .reported positions averaged approximately the same in
I i p1Ft. in :relation to annual disappearance stocks were materially lower in 1943
0 e. ~r IW:'. fliblvidd in these stocks in 1943 were substantial quantities of fats and
StNwer. et agencies for use of the armed forces and for export under lend-lease.
I l d fcrushere.1 refiners, dealers, and manufacturers in 1943 were below pre-war
P:i.. #Si -r*tar'Ta there has been some improvement in stocks.
.. ........


If: *I;'. *;; ; t
Y~i l;;:i;;;. ;' H ,-..


: : .. jf:: *..* .






Table 1.- wholesale priee per pound of fat edo oils at peifled markets, ead d-e ,:
nudbers of prices, Janury 1962 and 19 4, Normber-Janury 19W3-44
lICML
_ICM _.
It--. IaN e1r4=-um ~
a "_19 18 W er Des tmber .I =0-7;
I cents cant Coasis CMnt g
Butter, 92-soore, Chlcage ..................................... V 2 46.61. 1.6 U41.
Butter. 92-secre. Hew Tork ..................................... sY35.4 47.6 42.1 4.2 4u2.
Olegargarlne, do.. veg.. Chicago .............................. 18.6 19.0 19.0 19.0 19.0
Compounds animall ad veg. cooking fats), Chicago .............. 16.8 17.0 17.0 IT.0 1.0O
Lard, loosb, Chtadg ........................................... 11.0 12.8 22.8 12.8 U.B
Lard, prime steam, tieroes, Chicago ............................ 10.7 13.8 13.8 13.8 18.8
Lard, refined, cartons, Chicago ................................ 12.9 15.6 16.6 15.6 15.6
Oleo oil, No. 1, barrels, New York ............................. 18.2 18.8 23.6 1.6 23.1
Oleotearine, bbl., N. Y ...................................... 10.8 10.6 10.5 10.6 ]0.o
Tallow, edible, Chicago ........................................ 9 9. 9.9 9.9 9.9 9.3

Corn oil, rudeo, tanks, f.o.b. mill ........................... 12.4 12.8 12.6 12.8 12.8
Corn oil, refined, bbl., N. Y. ................................ 15.4 16.6 16.5 15.6 185.
Cottonseed oil, rude, tanks, f.o.b. S.E. mille ................ 12.6 12.8 18.8 1.8 18.8
Cottonseed oil, p.s.y., tank cars, N. Y. ....................... 15.7 14.0 14.0 14.0 i4.
Peanut oil, crude, tanks, f.o.b. mills ......................... 13.0 13.0 18.0 13.0 .0
Peanut oil, dam., refined, drum, N. Y. ....................... 16.4 16.8 16.6 16.6 16.5
Soybean oil, crude, tank cars, midwestern mille ................: 11.4 11.8 11.8 11.8 11.,
Soybean oil, edible, drums, 1.o.I., S. Y. ....................... 14.4 14.7 15.0 18.0 15.0.

Coconut oil, ail, crude, tanks, f.o.b. Pacifl Coust' .... --- 11.0 11.0 11.0 11.0
Cooanut oil, Maila, crude, bulk, o.i.f. N. Y. V ............... -- 11.4 11.4 11.4 11.4
Coconut oil, MNile, refined, edible, tank oareso.b. *.Y.. /a --- 12.8 12.8 18.8 12.
Olive oil, imported, edible, drums, 1. Y. ................. .... 75.7 59.5 71.6 71.5 71.8
Olive oil, inedible, drum. N. Y. .............................. 58.4 60.0 56.3 55.3 56.5
Olive-oil foots, prim, drum, N. .......................... 11.9 19.0 -- -- --
Palm oil, liger. crde, drum N. T. ..................... 12.4 /i1.6 1.6 1. 11.6
Rape oil, refined, denatured, bulk, o.l.f., .............. !16.4 16.0 16.0 18.0 1.0
Sunflower oil, tank car, f.o.b. N. Y. ......................... -- 14.3 14.3 1.3 14.

Tallo, No. 1, inedible, ChioaDo ............................... 9.1 8.4 8.4 8.4 80.
Grease, A. White, Chicago .....................................a 9.2 8.8 8.8 8.8 8s.
Menhade oil, rude, tenks, f.o.b. Baltimore .................. 8.2 8. 8.9 8. 8.
Sardine oil, crude, tank, Pacific Coast ...................... 8.4 8.9 8.9 8.9 8.9
Whale oil, refined, bleaobed winter, drumi 1. Y. .............. 11.1 11.1 12.3 12.3 12.8

Linseed oil, raw, tank oars, Minneapolis ....................... 10.6 12.9 14.4 14.3 14.3
Linseed oil, raw, drums, carlote N. N ........................: ^0.8 13.6 15.2 15.1 18.1
Perilla oil, rude, drum, T............................... 24.2 24.5 24.5 24.5 24.5
Oiticioa oil, tank oar, f.o.b. N. Y. ........................... 23.8 25.0 26.0 65.0 21.0
Tung oil, drums, I. Y. ......................................... 89.0 39.0 39.0 89.0 9.0

Castor oil, No. 3, bbl., N. Y .................................. 12.5 13.6 13.6 13.8 2..8
Caetor oil, No. 1, tanks, 1. Y. ................................ 11.8 13.0 13.0 13.0 18.0
Castor oil, dehydrated, tanks, N. Y. ...........................s 16.0 18.6 1. 117. 17.T
Cod-liver oil, mad. U.S.P. bbl., N. Y. ......................... 36.6 36.6 36.5 36.5 56.6
Cod oil, Newfoundland, drume, N. Y. ............................ 10.8 12.0 12.0 12.0 12.0
IDEX NMBERS (1924-29 100)

Eight domestic fata and oils (1910-14 = 100) .................. 122 1 151 142 14 14
Eight domestic fats and oil .................................... 87 107 101 101 101

All fate and oils (27 item) ................................... 96 113 106 108 106
Grouped b origin
Anirl F.te .................................................. 82 106 96 96B 9
brine animl oils ......................................... 121 127 132 182 132
Vegetable oils, domestic ..................................... 128 129 1382 38 1
Vegetable oils, foreign ...................................... 154 147 6166 96 1I
Grouped y ueis
Butter ..................................................... 80 106 93 9s 9
Butter, soaseally adjusted ................................. 79 103 6I 86 S
Lard ........................................................ 82 105 105 106 106
Other food fats .............................................. 140 15 189 159 41
All food fate ............................................. 91 110 108 108 108
Soap fats .................................................. 126 119 120 120 120
Drying oils .................................................. 11 188 149 149 149
miscellaneous oils ........................................... 107 117 111 17 11T
All industrial fate and oils ..............................i 122 17 182 81 181
Prices oomplled from Oil, Paint and Drug Reporter, The national Pro iar. The Journal of Comree ew r rk),
reports of the iar Food Administration and Bureau of Labor Statistic Prices quoted include wise taxee and adules
where applicable. Indez numbers for earlier years beginning 1910 are given in looulcal Bulletin Bo. 787 (1940) and"."
The Pata and Oils BSituation beginning December 1940.
/ Reflects open market sales only. Current figures refer to all types of wholesale trading for ash or short-tia
credit. / Three-cant processing tax added to price as originally quoted. V Quoted in drums. / Revised.
C Converted to present basis of quotation.







n- *




--
T-3 S' FATS AID 01 LS-SI UATI N




Contents :


s Summary ,................p..... .... 3 :
: Recent Developments ......,,....... 4
: Recent Government Actions .7....... 7 2
: Outlook *..,..e.. mu.e............... 9
: Civilian Use of Glycerin in 1943 ... 11 :


Summary

On the basis of reported factory production of fats and oils in 1943

and a provisional estimate of farm butter and noninspected lard production

during the year, total output of fats and oils from domestic materials was

about 10,870 million pounds, 9'percent more than in 1942. Production of

animal fats increased about 6 paelnat to approximately 7,200 million pounds.

Output of vegetable oils rose approximately 15 percent to about 3,660. million

*pounds. The principal increases in 1943 were in soybean oil and lard; the

principal decrease was in inedible tallow and greases.

Apparent domestic disappearance of fats and oils in 1943, excluding

the fat equivalent of exported soap, margarine, and shortenings other than

lard, totaled about 10.2 billion pounds, compared with 10.3 billion pounds

in 1942. These estimates include both civilian and military disappearance.

The decline in civilian disappearance was somewhat greater than in total

disappearance. Civilian consumption of food fats has been restricted by

consumer rationing since late March 1943, Use of fats in the manufacture of

civilian soap and civilian paint, linoleum, and similar products was limited

by Food Distribution Order 42. -. .. .



i. .. ....... .




FEBRUABY 1944 -4 q '

In 1944, production of fats and oils from domestic materials will
increase further,--approxi-mtely- t-percen~ jprobabbr'-orr bou~t-1.2 billion
pounds. Stocks onz Je3aary -, 194,4 were about' 100 million pounds greater
than a year earli-eri,--nd-some ncreaser in-impo r rtrs peutaet in 1944,
Hence, total supplies for the year may be about 800 million prnnins. S ,'arcenB
greater than in 1943_.. Noncivilian requirements also.will be greater.
Tentative allocations announced in early February indicate a substantial
increase in military requirements and some expansion in lend-lease exports.
A material increase in the use of fats and oils in civilian soap as compared
with 1943 is indicated. Under a recent amendment to Food Distribution
Order 42, manufacturers'- .quotas -for fats and -oi-l. for civilian paints, lino-
leum, and similar produote.were iaor-eased to 70 percent of average 1940-41
use for the first quarter-of .1944 compared with an average of less than 60
percent in 1943. SuppLtes.of.o-tad fat.s for civilians are expected to be
smaller than the total far 1943, but at about the same level they were under
rationing as in .the latter half of 194).

Although there has been an improvement in the stocks position of fats
and oils in recent months, inventories are still materially under the normal
level indicated by the pre-war relationship between stocks and requirements.
This is particularly true of edible fats and oils. The fats and oils situation
may grow tighter again this year in July-September, the seasonal low period in
inventories. Also, pressure on supplies of fats and oils in 1944 and 1945 wil
be intensified to the extent that European demand renters worldd markets.

Wholesale prices of refined cottonseed, soybean, and peanut oils
advanced on December 28, 1943, February 2, 1944, and February 21, 1944, respe
tively, under revised ceiling prices. These advances were the first to occur
in prices of fats and oils since May 1943. The increase amounted to 0.36 cent
per pound for prime summer yellow cottonseed oil, 0.40 cent per pound for
winterized soybean oil (salad oil), and 0.31 cent per pound for once-refined
peanut oil. Retail prices of fats and oils rill not be affected by.these
changes. Manufacturers of shortenings other than lard, who furnish the chief
outlet for refined vegetable oils, are eligible for payments by Commodity
Credit Corporation to offset, at least partly, increased costs, including
costs of containers and oils.

-- February 26, 1944

RECENT DEVELOPMENTS

BACKGROUND.- Production of domestic oilcrops was encouraged.
in 1942. The output of fats and oils in the 1942 crop year
totaled 10.8 billion pounds, over 1.1 billion pounds (11 per-
cent) more than in the previous crop year. Both domestic and
export demands for fats also mounted, and measures were taken
to control prices and distribution. Production was again
encouraged in 1943, and present indications pint to a further
gain in the current crop year of about 500 million pounds
(5 percent) over output in the 1942 crop year.

Production of Fats and Oils at New Peak
in October-December 19~

Total production of fats and oils from domestic and imported materials
in the last 3 months of 1943, including farm butter and noninspected lard, is




S~


ros-84


-5-


estimated at. about-3,180 million pounds. This was a new peak in production,
about 7 percent more than total output in October-December 1942. The leading
factor in the increase was a record high level of lard production. Output of
lard and rendered pork fat under Federal inspection totaled 619 million pounds
28 percent more than in the same quarter a year earlier. Output of cottonseed
oil was 14 percent less than a year earlier, and creamery butter production
.also was down 14 percent. But there were increases ranging from 12 to 116
percent in the output of soybean, linseed, peanut, coconut, and castor oils
(table 6).

,u. Production of fats and oils continued at a high level in January 1944.
Output of federally inspected lard and rendered pork fat was 266 million
pounds, 5 million pounds greater than a month earlier. Production of cotton-
seed and peanut oils declined somewhat, but this probably was partly offset
by a continuation of the upward trend in soybean oil output. The seasonal
decline in output of fats and oils probably was smaller in January this year
than.last. In January 1943 factory production was down about 8 percent from
a month earlier. .

Stocks Continue to Increase in December
But Still are Below Normal in
Relation to Requirements

Factory and warehouse stocks of primary fats and oils continued to
S, increase seasonally in December ASig At the end of that month they totaled
2,104 million pounds, crude bahas, oai-tW ed with 2,001 million pounds on
November 30, 1943, and 2,005 mtlle pounds on January 1, 1943 (table 7).
The increase from September V, 1943, when the seasonal low point in inven-
tories had been reached to the end of December, was 216 million pounds, a
greater-than-average seasonal increase. Despite this improvement, stocks
were still materially under the normal level indicated by the pre-war relation-
ship between inventories and annual disappearance (cover page chart). In
1935-39, December 31 stocks averaged 22 percent of total annual disappearance,
including exports. Stocks on December 31, 1943, were less than 18 percent of
disappearance in 1943, and were even lower in comparison to expected 1944
requirements.

The increase in stocks during 194 3;.ra largely a reflection of increase:
of 98 pnd 54 million pounds, respectively, in Government cold -storage holdings
of butter and lard, including butter held:by the Dairy Products Marketing
Association, Inventories of inedible tallow and greases-declined 82 million
pounds during 1943, and stocks of vegetable oils deCreased 28 million pounds.
Increases in stocks of soybean, peanut, and castor oils were more than offset
by decreases in cottonseed, palm, linseed;-coconut, and-corn oils.

Major increases in stocks in December.occurred in cottonseed oil, lard,
linseed oil, and inedible tallow and greases. There was a substantial decline
in inventories of butter. Cold storage holdings of lard and rendered pork fat
increased further in January. On February 1-such holdings totaled 246 million
pounds compared rrith 162 million pounds a month.earlier and 112 million pounds
a year earlier.

SSoybean Crushings and Movement from
Farms Greater Than a Year Ago

Crushing of soybeans in the fourth quarter of 1943 totaled more than
i million bushels compared with 25 million bushels a year earlier. The output






FEBRUARY 1944


of oil was 260 million pounds compared witi' 232 million pounds in October-
December 1942. The larger crush reflected mdinly an earlier start by southern
mills than in the 1942-43 season.

Apparent movement of soybeans off farms in October-December 1943 was
142 million bushels compared with 102 million bushels a year earlier.
Favorable weather enabled'farmers to harvest the .1943 crop early. This was
in sharp contrast to the wet weather in the fall of 1942. as a result of which
several million bushels of soybeans were left unharvested at the beginning of
winter. Rapid movement of 1943-crop soybeans from farms was also aided by mor
storage space than a year earlier and by special measures to assure transpor-
tation facilities adequate for the heavy movement.

Stocks of soybeans on farms January 1, 1944, were estimated by the
Crop Reporting Board at 58.119,000 bushels compared with 88,215,000 bushels
(revised estimate) a year earlier. Inventories'in country and'terminal ele-
vators and warehouses, processing plants, and Commodity Credit Cotporation
bins, totaled 110,434,000 bushels compared with 81,462,000 bushels a year
earlier. There were 168,553,000 bushels in all positions, about 1 million
bushels less than a year earlier.

Government Purchases of Lard Continue
Large in January

Purchases of lard and rendered pork fat by the War Food Administration
in the 4 weeks ended January 29, 1944, totaled 146 million pounds, compared
with 147 million pounds in December 1943, the peak month to date. Margarine'
purchases in January totaled 21 million pounds, compared with 2 million pounds
(revised figure) in December and a monthly average in 1943 of 6 million pounds,
January purchases also included linseed oil and butter and a small: quantity of
soap. Total purchases of all fats and oils, including margarine and soap in
terms of fat content, were 185 million pounds, compared with 155 million pounds
in December 1943 and a monthly average-in 1943 of 140 million pounds.

Table 2.- Purchases of fats and oils by the
War Food Administration, 1941-44
Item 1941 1942 1943 1 Dec. Jan.
:Mil. Ib. Mil. lb. Mil. lb. Mil. Ib. Mil. lb.

Butter ...................... / 34 120 5 8
Lard and rendered pork fat ...: 326 654 882 147 146
Other animal fats and oils 3j : 2 30 61 2 --
Linseed oil ................. -- 70 391 -- 10
Other vegetable oils .........: --- 100 71 -- --
Shortening ..o.... ............ --- 46 62 1 --
Margarine (fat content) _/ ...: 1 77 72 2 21
Soap (fat content) V/ .......: --- 16 23 2/ _
Total fat equivalent ....: 329 1,027 1,682 155 185

Compiled from reports of the War Food Administration.
I/ Four weeks ended January 29, 1944.
2/ Less than 500,000 pounds.
3/ Includes fish-liver and fish oils.
/ Fat content estimated at 80 percent for margarine; 55 percent for soap.





o s-84 1- 7.-

Prices of Refined Cottonseed Oil..
Slightly in January .

S Reflecting the.a4aance in ceiling prices for refined cottonseed oil
effective December 28, i943, the price of prime summer yellow cottonseed oil,
tank cars, New York, advanced from 13.95 to 14.31 cents per pound. This
increase resulted in a fractional increase in the index number of wholesale
prices of 27 major fats and oils, but the rounded number remained at 108 per-
cent of the 1924-29 average. This compares with 113 percent in January 1943.

RECOSE GOVER0TI ACTIONS

Qpotas Indreased for Use of Fats and
Oils in Civilian Paint and Varnish

Manufacturers' January-March quotas for the use of fats and oils in the
production of paint, linoleum, and similar products for civilians were
increased to 70 percent of basepeortod use by Amendment 3 to Food Distribution
Order 42, issued February 10. Prior to the amendment, the quotas were 60 per-
cent of base-period use. FDO 42 specifies base-period use as average use in
the corresponding quarters of 1940 and 1941. The complete list of products
affected is as follows: Paints, varnishes, lacquers, and other protective
coatings; linoleum, oilcloth, and felt-base floor coverings; and coated fabrics
other than oilcloth. The amendanm also exempts varnishes and other protective
coatings from quotas in Januap-~r-j f the protective coating is to be used
.in lining containers or contss dealaSSiUt for foods, drugs, beverages, or
- pharmaceuticals.

SRestrictions on Use of Sperm Oul ~gja ;
Suspension of Castor Oil
Allocation Extended

With supplies of sperm oil increased, the stringent restrictions on the
use of this oil in effect since May 1942, were substantially eased by
Amendment 1 to Food Distribution Order 37, effective February 18. Restrictions
on processing and delivery were eliminated. Under the amendment, sperm oil
may be used without restriction by the military or maritime services, or in the
manufacture of lubricants, grinding oils, duplicating stencils, hectograph
carbons, carbon papers, mimeograph ink, or typewriter ribbon ink. A maximum of
2,000 pounds monthly may be used without restriction in the manufacture of
cutting oils or compounds. If such use exceeds 2,000 pounds monthly, however,
the finished product may not contain more sperm oil than 65 percent of the
weight of the total fatty oil content of the product. Monthly use of 500
pounds or less of sperm oil for purposes other than those mentioned above is
unrestricted. For use of more than 500 pounds monthly, for purposes not listed
above, authorization must be obtained from the War Food Administration.

Under Amendment 3 to Food Distribution Order 32, allocation of castor
oil is suspended until July 1,-1944. This extends the suspension in effect
since October 1, 1943.

Fish Oil to be Released from
Government Reerves

It is planned to release fish oil from Government reserves on March 10
pad each month thereafter through June. Alaska herring, Menhaden, pilchard,





FEBRUARY 1944


and sardine oils will be released only for-use in alkyd resins, rubber com-
pounding, water insoluble metallic soaps, lubricants, metal working compounds
(other than core oils) and for military use where fish oil is mandatory. All
oil released will be subject to the provisions of Food Distribution Order 60,
which governs use and delivery of fish oils.
-i
Sesame and Sunflouer Oils Placed
Under Point Rationing

Sesame and sunflower oils were made subject to point rationing in late
January and early February. This action was taken in Amendments 101 and 103
to Ration Order lb, which covers meats, edible fats and oils, cheese, and
evaporated milk. The ration value for sesame and sunflower oils wa&F et at
5 points per pound, the current value for cooking and salad oils; These two
oils are almost entirely imported or derived from imported seed. Net imports
have been small in.recent years but are expected to increase in 1944. Both
oils are well adapted for edible uses, Sesame oil probably will be used
principally as a salad oil, while sunflower oil is likely to be used chiefly
in margarine and.vegetable cooking fats.

Ceiling Prices for Refined Peanut
Oil Increased

Ceiling prices for refined peanut oil produced from the 1943 crop of
peanuts were increased 0.01 to 0.31 sent per pound, depending upon grade, by
Amendment 16 to Maximum Price Regulation 53, effective February 21, The new
maximum price for once-refined peanut oil (refined unbleached and undeodory
ized), tank cars, delivered, New York, is 14.64 cents per pound compared with
14.33 cents per pound prior to effective date of the amendment. Sellers who
sold refined peanut oil since October 13, 1943, at prices subject to adjust-
ment may now request payment on the basis of the new ceiling prices. The
increases in peanut oil ceilings, like earlier increases in maximum prices
for refined cottonseed and soybean oils, were granted as a result of the
termination of Commodity Credit Corporation payments at the end of the 1942
crop year, to refiners of crude cottonseed, soybean, and peanut oils.

Specific Ceilings Established for Crude
Soybean Oil0; ish Oil Ceilings
Adjusted Slightly -

Specific ceiling prices for crude soybean oil at mills in States
outside the Middle West were established in Amendment 14 to Maximum Price
Regulation 53, effective February 11. A specific maximum price of 11.75 cents
per pound, tank cars, midwestern mills, has been in effect since September
1942. The specific ceilings established by the amendment were based on exist-
ing differentials over the Midwest price and do.not result in any actual change
in maximum prices for soybean oil.

The maximum price, tank cars, f.o.b, mills in Pacific Coast States is
12.50 cents per pound; at Houston, New Orleans, Savannah, and Edgewater,
New Jersey, 12.00 cents per pound; and in Michigan, Ohio, and eastern seaboard
States from North Carolina to New York (except at Edgewater), 11.875 cents per
pound. In the Southern States (except at Houston, New Orleans, and Savannah),
the ceiling is 11.75 cents per pound.






FOs-84 9- '

Amendment 15 to Maximum Price Regulation 53, effective February 14,
permits the War Food Administration to add specified storage charges to the
maximum prices for fish oils specified by the regulation, in selling fish-oil
that has actually been stored by the Administration. Normally, buyers would
have purchased their own supplies of fish oils in the early part of the season
and would have incurred similar storage expenses until the oils were put to
use. Hence, the addition of the storage charge represents a normal seasonal
advance in the cost of the oil to buyers.

OUTLOOK

Civilian Buter Supplies Improved

Production of butter has been increasing seasonally since November.
Output of creamery butter in December was 98 million pounds, 5 percent greater
than in November, and preliminary reports indicate that January production was
about 12 percent above December. Further increases are expected in February
and March, in accordance with the usual seasonal pattern. Total output of
creamery butter in the.first 3 months of 1944 may be about 335 million pounds,
a rise of more than 10 percent- from the 298 million pounds produced in the
last 3 months of 1943.

Reflecting the rise in production, civilian butter supplies increased
in January. Market reports stated, however, that supplies were still short of
demand at ceiling prices under rationing and were being prorated by wholesalers
and Jobbers. Some stores were still limiting butter purchases by individual
consumers in early February.

Since October 1, 1943, military and lend-lease requirements for butter
have been met from stocks accumulated before that date by Government agencies,
the Dairy Products Marketing Association, and authorized receivers'. The War
Food Admihistration announced last fall that Government purchases of butter
(except from stocks set aside by authorized receivers prior to October 1)
would not be resumed.before April 1, 1944. Hence, the supply of butter avail-
able for civilian consumption in January-March 1944 probably will be somewhat
greater than in October-December 1943, with a gradual increase from January
through March.

High Level of Margarine Consumption
Probable in January-March

Civilian disappearance of margarine in October-December 1943, as
measured by tax-paid withdrawals from manufacturers' stocks, totaled 147
million pounds. This was 26 percent greater than a year earlier and only
9 percent under the peak reached in January-March 1943, when dealers increased
inventories in anticipation of the beginning of rationing on March 28. Total
tax-paid withdrawals of margarine in 1943 were 503 million pounds, roughly
40 percent more than in 1942 and about the same percentage above tha average
for 1935-39.

Under margarine manufacturers' quotas for use of fats and oils in the
last 3 months of 1943, the maximum permissible production for civilians was
a little over 170 million pounds. With civilian disappearance around 20
million pounds less than this, civilian demand under rationing apparently






FEBRUARY 1944


- 10 -


was satisfied. In the first 3 months of 1944, the maximum for production of
margarine for civilians is about 160 million pounds. Civilian disappearance
of margarine in this'period is likely.to remain at a high level but may be
somewhat smaller than in the precsding.quarter as a result of the moderately
increased supply of butter for civilians.

Margarine Production Expected
to Expand in 194

Tentative allocations of fats and oils for the year 1944, announced
by the War Food Administration in early February, contemplate a production
for all purposes of about 770 million-pounds of margarine (actual weight)
during the year, an increase of over 150 million pounds from the 1943 output
of 614 million pounds. Production for lend-lease shipments and commercial
exports would be increased to approximately 190 million pounds, about 80
million pounds more than in 1943. Output for civilian consumptio6f' woud be
about 580 million pounds, roughly 75 million pounds more than civilian disap-
pearance in 1943. This increase would more than offset the expected decline
in the supply of butter available to civilians in 1944. Total civilian
supplies of butter and margarine pro-baly will be smaller in the first half
of 1944"-Tlan a y-rF'eafid? -w'-en -consumption was comparatively high, but may
be somewhat greater in the second half of the year than in the second half of
1943.

Outlook Improved for Inedible
Tallow and Greases

A reversal of the downward trend in inedible tallow and grease pro-
duction occurred in the fourth quarter of 1943. This resulted largely from
an increase in grease production, which ii turn reflected the increase in
hog slaughter. Factory production of grease in October-December 1943 was
12 percent above a year earlier. There was also an increase of about 6 per-
cent in factory production of inedible tallow, reflecting an increase in
cattle slaughter.

In the 12-month period beginning October 1943, total production of
inedible tallow and greases may reech or exceed 1,750 million pounds compared
with an output of about 1,620 million pounds a year earlier. On the basis of
the large number of hogs from the 1943 pig crop yet to be slaughtered and the
expectation that these hogs will be fed to a heavy average weight before
slaughter, grease production is expected to continue above a year earlier
through September 1944. The recently intensified campaign to salvage waste
kitchen fat, with the exchange of 2 meat-and-fat ratjon points for each pound
'of such-fat turned in, will contribute toward a high level of grease pro-
ductioni Tallow production also may increase in 1944. The number of battle
slaughtered'may be materially greater than a year earlier, and their average
live weight only moderately less. i.

Production of Fats_~i.j ls Increased in 1943
Further Increase Expected in 1944

A preliminary estimate of total production of fats and oils from
domestic materials in calendar year 1943, based on reported factory production
during the year and a provisional estimate of the output of farm butter and





08s-4 -11 -

noninspected lard., places the total at 10,870 million pounds (taSies 3 and 4).
This is somewhat above earlier estimates, which predicted a'total in the
neighborhood of 10,800 million pounds, and is .abbtt 9 percent greater than the
1942 Tigure of 9,955 million pounds. Present indications point to a production
of approximately 11,200 million pounds of fats and oils from domestic materials
in 1944, an increase of about 3 percent over 1943.

The leading changes in production of fats' and oils in 1943 were
increases of about 600 million pounds: in lard. output and 450 million pounds
in the production of soybean oil, and a decrease of 100 million pounds in the
output of inedible.tallow and greases'. Lard production reached a new peak
of 3.050 million pounds (provisional estimate). The output of soybean oil,
'at 1,226 million pounds,.was 61 percent greater than in 1942, the previous
peak year.

Domestic Disappearance of Fats Slightly
Less in 1943 Than a Year Earlier

With lend-lease exports of fats and oils materially expanded in 1943,
the United States was on a net export basis in fats and oils for the first
time since 1924. Apparent domestic disappearance declined slightly from the
1942 level. Exclusive of the fat content of soap, margarine, and shortening
other than lard shipped to foreign countries and United States territories,
apparent domestic disappearance in 1943 is estimated to have been about 10.2
billion pounds compared with 10.3 billion pdunds a year earlier and average
of 9.1 billion pounds in 1935-39- These estimates include military as well as
civilian disappearance; they include quantities shipped to our forces overseas.

Tentative allocations of fats and oils for 1944 announced by the War
Food Administration in early February indicate that domestic disappearance -
civilian and military may total about 10.3 billion pounds in 1944,
Utilization of fats and oils in nonfood products, particularly soap, will
increase, and military requirements for food fats will expand. The sApply
of food fats available for civilians is expected to be smaller than in.1943
but at about the same level as in the last 6 months of 1941.

THE GLYCERINE SITUATION, 1943 AMD 1944
By W. A. McConlogue and 0. W. Lenth
Fats and Oils Branch
War Food Administration

The Fats and Oils Branch of the War Food Administration has prepared
table 6 of this report, showing the pounds of glycerine allocated during 1943,
and the estimated 1944 requirements for use in the various classes of products.

While the tabulation reports the use of glycerine (refined, high
gravity, and che.r-ically pure) by the civilian consumers who manufacture prod-
utts for direct or indirect war needs, it does not show direct purchases of
glycerine by the Army and Navy, nor does it show exports of glycerine. This
information is obviously omitted for reasons of military security.





FEBRUARY 1944 12 -

The total quantity of glycerine allocated to civilian purchasers during
1943 amounted to slightly more than 161 million pounds. Based upon a record
of shipments in 1943 to civilian consumers, 133 million pounds, or 76.3 per-
cent of the total allocation, was actually delivered. The failure of the
civilian consumer to accept the total allocation is attributed to a combination
of inflated consumer requests because of early filing date" of their appli-
cations to use glycerine, and unavoidable changes in scheduling production as
a result of unrealized anticipated contracts or unavailability of other
materials to use with the allocated glycerine.

The change in the pattern of glycerine consumption under war conditions,
is shown by a comparison of the 1943 allocations and the consumption reported
by more than 1,200 consumers for the years 1940-41. This reported consuuptio4
represents probably more than 95 percent of the total use.. The domestic disap-
pearance during the years 1940 and 1941 was higher than the reported con-
sumption because of incomplete reporting of stocks and consumption, coupled
with substantial hoarding of glycerine in the face of threatened rising prices
and the fear of war-induced shortage.

Despite the drastic curtailment in the-use of glycerine for civilian
purposes of lesser essentiality, especially during the second and third
quarters of 1943, the allocation for the year was slightly more than the
average use during the two peacetime years 1940 and 1941. This condition,
of course, resulted from an increased use of glycerine to meet wartime needs
for dynamite, nitroglycerine, protective coatings, and other essential war
requirements.

Based upon the total glycerine inventory of 81 million pounds on
January 1, 1944 and the expectation that approximately 195 million pounds
will be produced during 1944, consumption in 1944 in civilian products is
expected to continue at a rate at least as high as the i-creased allocation
during the last quarter of 1943. This increase followed'a 6-month period of
denied, or drastically curtailed, allotments. The estimated 1944 consumption
reported in the forecast reflects the increased glycerine use allowed under
Food Distribution Order 34, Amendment 2, effective January 1, 1944, which has
removed glycerine from specific allocation and allows unrestricted use for
direct and indirect war requirements and certain more essential civilian uses.
Most civilian uses of lesser essentiality are limited to the quantity of
glycerine used in 1940.

Civilian glycerine consumption alone may result in a reduction of
present high level stocks of glycerine under the present Order. The total
reduction by the end of 1944 will be dependent, however, not only on the actual
civilian consumption, but also on the magnitude of direct military and lend-
lease requirements. Although total stocks of glycerine probably will be
reduced in 1944, present expectations point to sufficient stocks at the end
of the year to insure a satisfactory supply to satisfy all war requirements.





j






Table 3.- Proftueton and disappearance of specified fats and oils.
Arude basis United States. 1941-43

S- ,I Apparent domestic
M I Pr6duction 3 disappearance
Ste ineludn military u
S1941 T 942 : 19
W- ,., lb..-il, lb- Mil. lb. il.. lb. Mil. Ni. Ml. Ib,
fats and oils .
t e 7 .....7.........;.. S98 2,127 ]/ 2.061 .2,185 2.207 1,846
jLard and rendered pork :
at 2/....................... 2281 2.455 / 3050 -1.965 1.866 2,09
* ,east'a-foot oil .......... 5 3 7 7 5
4aeo oil ..................:1 92 o06 90 102 79
S eo stearine and oieo stocks. 50 59 463 .43
allow, edible ............. 91 112 133 95 118 111
allowo, inedible. and
;gre cases, excluding wool I
Grease .............. ...I 1,551 1,741 1.641 1.649 1,853 1.749
Wool grease ................ 13 15 15 17 16 16
Fish-liver oil ...........,: 9 10 9 36 15 28
Fish oil .................. 211 14 166 198 149 165
Irf marine mammal oil .........z. 1i 4L 4/. 28
Total, animal ........... 72 677 7.207 6,317 258
SVegetable oils
4abassu oil ...............: 6 31 41 34 24
anetor oil ................, 155 147 121 157 155 99
Qoconut oil ...........,.; 318 111 143 726 202 197
Sorn oil .2 .............. 20 24 239 174 26 239
|ottolaeed oil .....,.... : 1,392 1,386 1.312 1.566 1,401 1,321
linseed oil .....,......... 86 960 917 816 83 782
Olive. oil, edible,....... 10 7 10 17
Olive oil, inedible ..... --- / 3 2
Olive oil foots ,,... .., *-- 11 4 5
Palm-kernel oil ........... / 7 8 1
iP. Palm oil .,............... 29129 85
Peanut oil ........1.. .. 0 77 150 16 94 121
erila oil .. ...- 4 2
Rape oil .......,,.,a...,*w -- -- 19 16
Became oil ............. 5/ 5/ 1 2
Soybean oil ................ 586 762 1.226 55 75 1.127
T tag oil ..... ..... .,,. 4 2 5 15 5
Other vegetable oils 6/ .... 21 12 29
Total, vegetable _%668. ),161
Grand total .10.
Total from domestic
m__ materials ...... 9, 6j 10,. -
yrodtuction compiled from reports f the bureau of the enasus, 3ureauof a tri cuTal
ISoonomies, War Food Ad-niestration, and Fish and Wlldlife Service. Apparent
domestic disappearance competed from data on production, trade (Bureau of the
Otnsus), and stock (Bureau of the Census and War blood Administration). Totals
|computed from unrounded numbers.
3JPreliminary. 2/ .Inluding farm production, 3/ Tentative; official estimate for
farm production not yet available, 4/ Less than 500,000 pounds. 5, Included in
ether vegetable oell. Z neludes cashew nut shell oil, Japan wax (tallow),
parM -krealrnel oil, oltieis oil, ouriouri-kernel olt, sunflower oil, teaseed oil,
~~i1 oil, vegeble tallow, and minor domestic vegetable oils, such as
S.. I. aQt waj t ils.







Table 4.- Production'of animal and vegetable oils from domestic
materials, and apparent domestic disappearance. all fats .
and oils, United States, 1912-43

S Production 'o Apparent domestic : ..
Production-fromw disappearance. all-
domestic materials : disappearance all Productibo'n" om
-" fats and oils domest- .t
Domestic materials
S: : : Exolu'ding : as a percentage of
:fat equiv apparent domestic
: : Including : lent of : disappearance
Year :Animal fats: : quantities: exported diae
: and oils :Vegetable: : used in : margarine;: excl g
STotal lent of exported
: (including: oils : :manufacture: soap, and : .;"a n


: marine) :


:Million
: pounds

1912 : 3,45

1914 : 4,040

1916 : 4,284
1917 : 3845
1918 : ,214
1919 : 4,441


1920
1921
1922
1923
1924
1925
1926
1927
1928
1929

1930
1931
1932
1933
1934

1 736




1940
1941
1942
1943


4,470
4,858
5,318
5.923
5,976
5,428
5,623
5,648
5,707-
5,832

5,563
5,702
5,776
6,093
5,780
4,567
5,192
4,866
5,406
5,870

6,346
6,572
6,777
7,207


: :of exported:
: products :


* :


:


oomp~unds '"
and vege- :'
table cook-:


w 5-' 3. aY,1
and vegetable
cooking fats


_ *_ J _. : auingjats-; ___1/_
Million Million Million Million
pounds pounds pounds pounds .Percent

1,826 5,671 5,108 N.A. -


2,220 6,260

1,920 6,204
1,321 5,666
1,627 5,841
1,809 6,250

1,286 5,756
1,654 6,512
1,251 6,569
1,296 7,219
1,680 7,656
2,092 7,520
2,202 7,825
2,312 7,960
2,030 7,737
2,062 7,894

2,06l. 7,624
1,838 7,54o
1,911 7,687
1,720 7,813
1,531 7,311
1,612 6,179
1,346 7,039
2,133 6,998
2,369 7,774
2,340. 8,211

2,435 ,8781
2,814 9,385
3,187 9,965
3,663 10,870


5,953

6,163
6,103
6.4o6
6,198

5,857
6,013
6,821
7,295
7, 483
7.900
8,126
8. 089
8, 97
8,750-

8,414
8,364
8,030
8,202
8,639
8,659
9,078
9,228
9,048
9,631

9,785
10,985
10,383
10,378


.11 .


II ..


II


7,217.
7,415.
7,825.
8,050
8,238
. 8,440
8,685.

8,356
8,.317.
7,991:
8,168
8,610
.8,644
9,048
9,193
.9,016
-9,590

9,746
10,941
10,325
10,204


10.3
* --






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90.9
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97.2


91.7

90,7
96.2

84.9
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71.5
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76.1
86.2
85.6

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85.8
96.5
106.5"t

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zip00 0). 10 of moaalrg'
ab L teclS ot e lues, da2 'C ta ari e icmpe

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........................4 2 8
d
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an4vd oale, :oklgft r o~xldd sdt r 4opea
.......... .... B sh 1te 5 t 1 1l pounds
ii iar



Tal 5.and es ofu odpoer, ed.il e ig madeBultin(hcg
.,anuay 1,9ke2 and o1943 MiXo eam oi' ),-and x epor194o-44.
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Table 7.- Factory production of fats and oils, specified periods, ail
indicated crop-year production from domestic materials, 1940.43
S : e 93 :_ Oct.-Dec.
Dec.
te : 1942 Nov. Dec. 1941 1942 1943J.
: Mil.lb. Mil.lb. Mil.lb. Mil.lb. HTil.lb. Mil.1
Animal fats and oils :
Creamery butter .................: 116.8 93.0 97.6 363.0 348.1 298.
Inspected lard and rendered :
pork fat ......................: 218.1 210.9 260.1 459.4 483.7 619.)
Greases excluding wool grease ...: 49.7 54.6 55.3 137.6 138.1 154.
Neat's-foot oil .........3....4..: .3 .4 .2 1.2 .9 .9
pleo oil ....................... 7.8 6.4 5.6 26.7 24.5 17.9
Stearine, animal, edible ........: 3.6 3.5 2.9 13.8 12.5 9-7
Tallow, edible ..................: 8.1 10.7 9.1 25.0 29.0 30-.9
Tallow, inedible ................: 69.9 80.6 81.2 228.9 223.4 236.0
Wool grease ..................: 1.2 1.2 1.3 3.4 3.6 3-5
Fish-liver oil ............ ... : .6 .6 10 1.2 1.8 2.4
Fish oil .... ...................: 14. 178 13. 93.2 5.4 45.1
Total, animal ................: ~90E9 79.7 527.b 1,352.8 1,325.0 1417.
Vegetable oils, crude basis
Castor oil ....................: 5.0 13.5 13 49. 185 40.0
Coconut oil .....................: 7.5 8.9 .4 80.4 21.8 35-.
Porn oil .......................: 19.8 19.6 19.2 56.1 61.9 60.2
Cottonseed oil ..................: 200.4 192.0 176.7 540.7 649.7 559.5
Linseed oil .....................: 73.6 98.1 98.0 .251.8 235.4 294i8
Olive oil, edible .............. .7 2/ .6 2.1 .9 .7
Peanut oil .......... ......: 13.1 22.4 17.4 33-8 33.6 52.9
Soybean oil ..........;.........: 92.3 87.5 98.4 177.3 232.2 259.7
Other vegetable oils ...........: 2.5 2.4 1.4 1.2 81 6.5
Total, vegetable ............: 414.9 T4W. 4 1,20.71,2 ., 30954
Grand total ........ ...: 905.8 924 .1 9 21.5 5 2,5871 2,726,7 ii
: Indicated production front domestic material.
S Year :1940-41: 1941-42 1942-43: 194 t
: begin ng__ : -1 .
: :Hil. lb. Mil lb. Mil. Ib. Mil. Ib.
Butter, including farm ............: Oct. : 2,287 2,142 2,112 1,960 1
Lard and rendered pork fat, total .: Oct. : 2,285 2,440 4/2,860 3,300
Inedible tallow and greases, total : Oct. : 1,492 1,733 1,626 /1,750
Edible tallow, oleostearine, .' '.
oleo stock, and oleo oil .........: Oct. : *218 277 271 4/ g
Neat's-foot oil ...............: Oct. : 5 3 "
Wool grease .......................: Oct. 14 15 15 10
Marine animal oils ................: July : 175 215 1636
Corn oil .......................... Oct. : 186 242 240 240I
Cottonseed oil ................ .... : Aug. : '1,425 1 i250 1,400 1,241p
Linseed oil / ..............;....: July. '494 546 729 900
Olive oil .......................... Nov. 11 8 10 10
Peanut oil ........................ Oct. : 174 78 133 4/ 150
Soybean oil ..................... Oct. : 564 707 1,198 H1.2510
Tung oil ............ ..... ... Dec. : 4 2
Total... ..... ........... ,3.3 .95 10
Compiled fror. reports of the Bureau of the Census and the Department of Agriculture
Monthly reports do not show total production of butter, lard, inedible tallow, and
greases.
j/ Cod and cod-livor oils only. 2/ Less than 500,000 pounds. 3/ Based on most
recent indications, subject to change. 4/ Revised. V/ Domestic production.






STable 8.- Tactory and warehouse stocksAf dbcl-fied fi'fand. oils., cdde basis,
December 31, 1941-43, Octib6b 3nd'Nov6emer 50,"19k3

Item : Dec. 31,: .., : j. 1tl v3o
: Mil. lb. Mil. lb. Mil. lb. Mil. lb. Mil. lb,
:Animal fats and oils
.it ......................: 114.4 25.0 211.2 178.8 154.6'
.Lard and rendered pork fat .....: 186.5 91.3 157.2 131.0 161.8
Greases, excluding wool grease .: 101.6 103.9 82.8 77.3 80.0
Neat's-foot oil ...............: 2.5 2.6 3.2 3.4 3.4
Oleo oil .......................: 6.6 3.8 5.1 4.5 3-1
Stearine, animal, edible .......: 6.9 2.9 2.8 2.2 3.1
Tallow, edible .................: 6.8 5.1 11.8 10.0 10.4
Tallow, inedible ..............: 253.8 197-5 121.6 130.8 139.6
Wool grease ...................: 4.2 4.6 3.6 3.6 4.0
Cod and cod-liver oil ..........: 9.1 12.6 13.5 13.2 12.4
Other fish-liver oil ..........: V. 2.2 1.5 1.7 3-3
Fish oil .......................: 149.4 141.3 131.6 131.6 135.3
Marine mammal oil .............. 3.3 59.6 36.1 62. 67.7
Total, animal ...............: 75.1 52 7 782.0 750.1 778.7
yVegetable oils, crude basis 2/ -
Babassu oil ..................:- 12.5 10.4 8.0 5.9 4.2
Castor oil 3/ ..................: 19.2 20.6 58.5 61.0 62.4
Coconut oil ...................: 195.8 141.8 154.0 139.4 129.1
Corn oil ......................: 51.5 34.4 28.9 27.1 26.0
Cottonseed oil ...............: 508.6 481.2 291.9 371.2 433.2
Linseed oil ....................: 198.5 297.2 244.7 261.3 276.8
Oiticica oil ...................: / 6.5 6.7 6.5 6.5
Olive oil, edible ..............: 8.3 6.4 2.4 2.2 2.3
Olive oil, inedible and foots ..: 15.2 11.3 6.1 5.7 5.3
Palm-kernel oil ................: 2.1 1.4 / / 5
Palm oil .......................: 199 s6. 60 .6.9
Peanut oil .................. : 3.6 27.0 37.1 46.2 54.5
Pierilla oil ....................: 5.0 2.3 .7 .6 .6
.pe -oil .......,...............: 15.2 22.0 20.5 23.0 21.4
:.eame oil ...'................: *.6 .2 1.1 1.1 1.0
So bean oil ..................: 113.0 144.1 187.4 178.0 186.6
.Tung oil .......................: 32.8 28.6 28.7 28.1 27.1
Other vegetable oils ...........: ___23~.5j 0.5 2.6 28.6 26.4
Total, vegetable ............: 1,385- 1,l52.9 1,173. 1,250.6 1,325.1
Grand total ...............:.2,2604 2,Q52 *960.4 2,000.7 2,103.8

smiled from reports of the Bureau.of the Census; except-butter and/lard, War Food
'inistration. Totals computed from unrounded numbers. Includes stocks held by
vernminent. ***
Included in fish oil.
Crude plus refined converted to crude basis .by dividing by the following factors:
basu, 'corn, cottonseed, palm-kernel, and palm oils 0.93; coconut, peanut, and
bean oils 0.94. :.........
Beginning 1942, includes stocks-of dehydrated castor oil converted to crude basis
dividing by 0.88. : ..... :
Included in "other vegetable oils."'
Not separately reported.





After five days return to
UNITED STATES DEPARTRFn! O AGRFICULTURF
BURZAU OF AGRICULTURAL EOOIOMICS
ASHIGION 25, D. C.

0FFI CIAL BUSINESS


Penalty for private use f
payment of poistae g.$.s.0 IB
UNIVERSITY OF FLORIDA
I,, I IIIIII GI I IIIIE IIB0I
,,,.: 3 1262 06905 1774
.. .... ( ... *** ;|


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FEBRUARY 1944


- 20 -


Table 9.- Price per ton of specified oilseed meals,
January 942 and. 1943, ovember-January 124- ....
-. .' .., Jan. 43- 4i
Item / 1942 1943 .Nov. Dec. ..

: Dollars Dollars Dollars *Dollars l. l


Copra meal, Los Angeles 1.............:
Cottonseed meal, 41 percent protein,
Memphis ...............,.......... .:
Cottonseed meal, 41 percent protein, :
Chicago .................... ......... :
Linseed meal, 3J percent protein,
:inneapolis ......... .... ........ .. :
Linseed meal, 32 percent protein,
Nev York ..... ....................
Peanut meal, 45 percent protein,
f.o.b. Southeastern rills .........:
Soybean meal, 41 percent protein,


.48.30' 53.?5

39.90. ...5.60o


39.50

34.75

44.10


5i.50

48.50


51.50 s 54.

48.50 4s..$


46.75 54.45 54.45. .

43.oo 45.50 45.50 "45.S

-- 45.o00 45.0oo0 4


38.00 53.oo


53.00


Chi cago ............................. : 46.45 __ 9.35 51-90 .i 1. 90
Cou.piled from records of the 7ar Food Administration.
I/ Bagged carlots.