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_00073
Classification:
lcc - HD9490.U5 A33
ddc - 380.1/41385/0973
System ID:
AA00005305:00091

Related Items

Succeeded by:
Fats and oils outlook & situation

Full Text














FDS-60


THE ST UAT ION


1942


IN TH IS ISSuE "
COMPARABLE PRICES: PEANUT FLLL
SOYBEANS U~S irEPOSITORY
RECENT MARGAR INE STAT IST 10


WHOLESALE PRICES OF EIGHT DOMESTIC FATS
AND OILS. 1910-21, AND 1935-42*
IND EX NUMBERS(1910-14=100 )


1935 1937 1939 1941 1943 1945
1910 1912 1914 1916 1918 1920
BUTTER. GOTTONSIED DIL. AND LINSEED OIL. NEW YORK. LARD.7TALLOW (INEDIBLE ).
GREASE. OLEO OIL ANYD TALLOW IEDIBLEI. CHICACO


U. EDa~~EPARTMNT FARICULTUIE


NE6.I9332 BuIEAUOF AGRICULTURALI ECOIt0ICS


PRICES OF FATS AND OILS IN JANUARY WERE AT OR NEAR THE
REVISED CEILING LEVELs. SOME FURTHER ADVANCE IN PRICES IS
POSSIBLEs PARTICULARLY.FOR LARD FOR WHICH THE CEILING WAS
RAISED A SECOND TIME IN EARLY FEBRUARY, AND FOR BUTTER AND
LINSEED OIL FOR WHICH THERE ARE NO CEILINGS. BUT ADVANCES
lil THE GENERAL PRICE INDEX IN COMING MONTHS WILL BE SLIGHT
COMPARED WITH THOSE IN 1917.


BUREAU OF AGRICULTURAL ECONOMICS
UNITED STATES DEPARTMENT OF AGRICULTURE







FEBEUAPY 1942 2 -

Table 1.- Price ;per nound of necified. fets, oils and glpcerin, January 1940
andc 1941, I'ovemoer-Jancer;- 1?4l-L2

T,, :_ =P. :19!11-42
:_r'4; ::.'41 :170v. :Je~. :Jan.
:Ou:ts !1catsE rCente lat Cents

Butter, or-score, Chicrgo ............... )S 30.1 35.8 34.6 35.2
Butter, ?2-rcore, D~evr rork .............. 1. 113023 35.4
01eomararsrine, c.0.a. 7F-S., ChiPPo .......,........: 15.0 14,51.5 15118-5
CommunL~rds (RTar].iw end vz c~oi'-:10 fats!, Ch:icago .* Z.5 10. 1-,.8 76. 16.8
Lard, t~rirc~ eve, tihrees. r,.12-ago ...............: 6.0i 5.2 T-.E 0. 10.7
Larc, refin-G, cartons, C~iCPgo ...................: 0.8 0.8 11.t 12.5 12.9
01eo oil, e:-trra, ierce, Quiiago .................: 7.2 7.0 11.6 Lill.55 11-g
Oleostearine, jbl., H. Y. .........................: n. .4 10.3 10 10.i;
Tallour, edibls, C.!icago~ ...........................: 5.4 5.4 cJ.9 q.0 9.6

Corn oil, crude, tanksP, f.o.b. Fillb ....,..........: 11.2 11.3 (.
Corn oil, refined, bol., :i. 'i. ....................: S.6 9.1 15.0 14.9 15-4
Cottonseed oil, crudeo, tro :1_, fc;.S.E in .q F;. 11.4 12.0 12.6
Cottonseed oil, p.s.:-.. 621 -,rs, ". Y. .....: 6. 1. 11 13.7
Peanut oil, cruide, t.-!!ksc, .f.c.L. r-111ls ............: 0.7 5.6 11.9 12.1 13.0
Peanut oil, don. refirne;, sabl., 1:. Y. .....,........: 9.6 0.2 15.8 13.9 16.4
Soybean oil, crudie, teak; C.rs, mid**eetern mills ...: 5.3 5.1 9.8 10.1 11.4
Soybean. oil, -lon., crede, Lcru n, !!. 1'. ............: d.a 6.o 11.8 1. 12.8
Soybean oil, refinci~. Ear~s, 11. Y. ................: 3.2 5.2 13.0 13.7 14.0
Ba~bessu oil, turks, .'.o.b. r~ille, Facific Coast ...I --- --- P.6 --- -
Coconut oil, wri.~e, >.an,9 r.o~b. Pacific Coast 2] : 6.0 5.0 9.8 -----
Coconut oil, eui~ble, cirum.s, N'. i'...................: 3.d 'i.8: 144.4]/1.2 ---
Olive oil, cci'ble, drums, IH. Y. ........... 39k.2 72.3 74.8 75-7
Olive oil, ined~ible, arms~l, 11;. Y. .........:1. 1.2 54.4 F14.8 58.4
Olive-oil foots, DrisP, dI~runs, U. V. *..... j.4 1:1.2 17.2 18. 1.9
Palm oil, Niger, crucie, drunis, Ii. T. 2/ ...........: 8.4 7. 1202.4 12.4
Palm ofl, SI1n:atra, tankIs, Jl. Y. 2! *......., --- .211.0 11.8 ---
RaTpe oil, drums, N. Y. ............... 3712.2 14815.2 15.4
Rane oil, blown~, -rmms, I;. 1. .....................: 17.2 17.5, 17.2 17.6 18.0
Teaseed oil, crude, drums, II. Y. ..................: 12.5 17.5 2i.0 29.2 30.0
Tallow, ined~ible, Chicngo .........................: 5.1 5.7 3.618.5 9-1
Grease, A white, Oh-icego ..........................: 5.1 4.5 8.6 8.8 9.2
Menh~Fadea oil, crude, tra.~:s, f.o.D. 3.Rltimote .,.....: 4.8 4.4 7.7 8.0 8.2
Sardine oil, zcr.de, trnksp, Pacific Coast ..........: 5.0 5.4 7.SI 8o 8.4
Whale oil, refined, "ole,-.hed winter, druns, 1:. Y. .* 3.5 9.5 11.1 11.1 11.1
Linseed oil, roiw, tank~ cars, .Iir.ne;Doois ..........i 10?.4 s.T 9.4 10.0 10.6
Lins~eed oil, rawi, dr~um, carlots, II. Y'. ........: 10 9.6 10.2 10.8 11.j
PeriLle oil, drums, 2T.. Y.*8.2 18.3 22~.8 22.8 24.2
Oitisies oil, drume, rT. Y. ........................: 23..5 19.0 22.0 22.5 24.1
Tung oil, drums, N. Y. ............................: 27.6i 27.2 35.8 36.4 39.0
Castor oil, 110. 3, b. .Y .......... 12.8 g.8 12.4 12.5 12.5
Castor oil, dehydrated, drJums, carlnts IT. Y. .....: 17.0 13.1 16.9 ']0$.9 16.9
Cod-liver oil, ced. UJ.S.P. bbl., N.Y. (dol ,per bblh jhi fl. 87.5 87.5 82.1
Cod ail, Pewfoundhland, drums, UJ. Y. ........ 9.6 8. 10.5 10-5 10-8
lyceig gypyg 80 recent basis, tanks, N.Y....: 8.0 7.2 11.5 11.5 11.
Compiled from ?il, Paint and Drug Reporter, The NTational Provisioner, and reports
of the Agricultural Marketing Service and Bureau of Labor Statistics. Prices
noted include excise tax.es and duties where applicable.
L/Revised. 2} Three-cent processing tar.added to price as originally quoted.
r/Less than earlots.








FOS-60


- 3 -


THBE FA4T S AN 0a~ IL S SI TUI A TI 0 U


Summe~?r

Domestic production of fats and o'ls wa- at a re-crd level in 19$1,

but factory anl warehouse atocks were reduced nearlyv 300 million pounds (12

percent) d.ur .ng the year. In view or the current FiLgh rate of domestic con-

sumpti.on, the large pulrch~ases for lend-lesas shjipme~nt. s and the curtailment

of imports of oilseels and oils resu.1.tine from : in t:-e Pac'fic, a f-irther

reduction in stocks of fats an~ oils probably w'll occ~ur in 1942.

Maximumn prices on fats and oilP wer. raised by a minim~um of 11 peTcent

on January 2; prices in January advanced to or near the new maximumn levels.

Effective Feb~ruay 4, the mraximu~m price on lard wa~s acsin increased, while

the maximum on linseed oil was renove~d. Prices of soyb5eans, flaxseed, and

peanuts for oil also advanced in Janutry, reflecting a. strong demand for both

crushing and seed purproses. Large increases in acreage are in prospect for

these crops in 1982.

Consumption of 01eomargerrine rwas 47 million pounds (15 percent) larger

in 1941 than in 1940. Consumption of butter, on the other hand, was 63 mil-

lion pounds (3 percent) cmaller than a year earlier, despite a slightly

increased production. Improvement in demand resulting from larger consumer

purchasing power in 1941 was reflected chiefly in an 13J-prcent inc~re-ase in

the average wholesale price of blutter at Chicago and a 7-Dercent increase in

the price of margParine.

-- February 16, 1942

REVIEW OF RiECE"TT DEVELOPMENTS

BACKGROUN~D,- With large world supplies available, prices of
fats and oils were at a lowJ level in 1939. Prices advanced
in the fall of that year but declined in the spring of 1940.







FEBRUARY 1942 4-

During the first half of lohl, prices advanced sharply reflect- .`
ing the tight shipTningr situation for imported materials, marked
improvement in ri.ristic dema~nd. and Government purchases of
lard for export. Pri-as tendea to level off during the second
half of 13;1, partly oe-ausz of a te.nnriaTry imore-.rementt in ship-
ping and portly because of price-criltrol mensures.

Prices of P=.tc and Oils Advance
in Janu-:y

The amendment of the frt~s and oils price schedule on January 2 raisetd-
maximum prices by: a minimum of 11 DF-rcnt oJver those established on
December 13. Prices of most items in January; advanced to or near the new
maxirman 1lrvlsQ withl the most pronounced price gains "oeing recorded in crude
veeetaole (.ils at mills, in importedd drying oils (tun~g, nerilla, and oiti-
cica), and in lard, te~llown, and Rraves.~ The price of butter, for which there.
is no maxiucam, averaged sligh~tly hicrher in January than in December.

Averagg~ prices of 27 leading fats and oils in January, at 96 percent
of the 1924-29 average, were j percent higher than a month earlier and 43
percent hitzher than a ::Mr earlier. In comparison with January 1941, the
wholesale price of but -r was ..3 16; percent, lard 105 percent, other food
fats and oils 97 percent, soap : ts ?1 percent, and dr-in oiils 24 percent.
A stabilizing factor in the c sp of dryiine oils has been the large surplus
of flaxseenl available~ in Arrentirna. r

Ceiling for Crash Lara -I.-r;.sed;


Price Schedule :No. 5!, announced b;, the Office of Price Administration I;ii
December 13, 1941, was amended a second time effective Februlary 4, Ceiling
prices for lard were revised uoiward by adding to the October 1 prices 1.895
cents per Dounrd for cash lard (in tierees), 0.675 cent for loose lard, 0.49.
cent for leaf lard, and 0.79 cent for steam rendered pork fat. The ceiling' ;'
price for cash lard at Chicaeo, is now 12.69-1/2 cents per pound compared
with 10.93 cents'in January. (The cI=ling in Januaryr was set at 111 percent
of the price on Irovember 26, 1041, slightly higher than the October 1 price
of 10.80 cents.) The new ceilinP for cash lard at Chicago is 0.13 cent under2;i
the maximum futures prices (for Mayr and July delivery) of 12,82-1/2 cents pet z
oound.

The new ame-ndment to Schedule No. 53 specifically excludes linseed
oil, peanut oil, and soybean oil, as well as essential oils, mineral oils,
butter, and cocoa butter, from application of the order. A separate price
schedule (1Jo. 92) was issued effective February 4, which in effect maintains
the same ceilings for peanut oil and soybean oil as those prevailing in
January. But no provision was made to maintain a price ceiling for linseed
oil. Butter was specifically exclirdied from the original price schedule.
Cocoa butter is covered in a special schedule together with cocoa beans. ~

Following announcement of the aidl~ion taken by the Office of Price
Administration on February 4, the price of cash lard at Chicago advanced
about 1.j cents from 10.9 to 12.2 cents per pound. The price of linseed oil
at New York (zone 3) went up from 10.9 to 11.1 cents.


i cl






FOS-60 -5 -

Prices of Co:.:Pearr nC~ arv.3 ,sse


IPriCes re..:Pi;'? I; 1 't corners frr rnegi,~ren In1 flas:--c3 were~ 10 to 12
percent hith r ,in Isr~-c'rnarlr" t.P-n :rAnt~ ==zli- endl. werre at the highest
levels for the r.-=:-st'inr. '.?5es on r t-. 'c -nl* ti-c:; .'-'ee us7 about 7 per-
cent. The rI~ce oF 2ot, o*. F .f in 7] .rl-;an -ar,,r, on tlre Ot'ler T'T.E15, e.?= 3
percent lov\.Er than 9 mon~thi earliter.

At an avernge of -$1.65 yer buch1 on Janarye,. 17, thle "ri'Es received
hy fArmerye fPr 3(1-erns~ was? j cens hiite; r then tihe su~,pport Crice folr 106:2
crop sortI:-r.s a;nnou~ncsi by tY-e 5: crt rrI' o .99r'culrtlore On J:rnairr- i ?.

belowl tlhe ~3jnimu.1 r!rstict le-- Annov-a:c'r for~ t::e 1982l core.. T re-:r.sl m--rk'et
pricits for bo~rt?- "my a r-:R .n?; :li.cl xe-e: .fraud 7icher.~i 6.;2tri the. ~ecr-ni13 half
of' Jatnll-r;,. i'i..:- If 'Snants' and runnelr tl.ne n.--n its for o' 1In P-id-J~anuary
were pbove. the: annourlLC-;i sureiiF r TrUcS foJr the; 194; C:c.-rO, --;ilt- thE p.ric-e
of Virgirnia type pc7:nute for Jit vo.s aboultt C15 1 to th-.. 1C-'2 ex.po~rt level.

Soyb:eans, flueled, pni D~ean-ts Pro rco-r in activ.~ 4-;:mand f7r bolth
crushing and seed varps.=.es.~ The dam~n3 for s~eed is yr-ticul-rl:- strong this
yerr Ps a result of th~ lares incrzEases in annater fojr t'v.=e3 crops in prosp~ct.

An AdditioT.al price f or-tl in th~ on f ofl:; 1r t.eep ha an eries
of increases in thet of*.rinr pr-ia, of th!e .Ar,nt' c no_~ Gain rd. Rese*
increass s br~ourt.' t'?e or~!'- 7.* l" :L-'F'!, f.n.b. e- nr; i.ires. in~cllfing
ap~r.raisement tr.u, to apnroxi- :01,,- .":.lr:T--1 n zr .r l ;.n earL;:. 'Etrru~lar (Uni~ted
St;otec currenc: C, commei rd it" --r 1--~r o, F: cents in rly TNovembcr.
After Pe-rr1 Hor~bor, '-'r--rid.. tr. tr;-..a r-t = r, i~Cie of flqussedr from
Arg~entina were in1crflr~m-1 f~rom 1 tT. 1t cen.~3 pr? :'-: 1. Onr t,;e~ other h.=nd,
the dut:T on f'rzrl!sc was- rE~~r~- 3ce 25 coPC1 o-" .:1 Fff e-ti-vC3 :jPlavemer 15.
19L1, and On Jlnuar.7 PD, 1042, th-? c71nferi13 i;e fr tr~t oi flexseed from
Argentin? we~ ent 17.E. c.n-s frol "5 to ??.5 c-nt nor tu ~.el. Thp net effect
of these chnnget;,sqi,teinr~in in r..i-l-:To .em'e~r, 6-'= teen to, rnise the price of
Argentine flpxsred, dut; Deid Pt N~ewE York, ty Ftbout 16 cents rer bu bel.

The Zrmer~gency Price C~ontrol Act rlf 1C42, 7approvel J~nurlnry j0, provideS
that no neximrum price c'n.11 Ye e~stabis"'ed oir mn'ntained for r;ny, Pirricultural
com~odityr below the biPhest of th, follo3wi19 prizYS, as deterrained~ an~d pub5-
lir-hed byr the Secret~ry; of Agricult-lre: (1) 110~ nsrcent. of the ra~rity~ price
for suich ec:nnodityI, adjusted by the SFcrctSr:r Of PPricLatture for grade,
location, and sehasnal 3ifferesti 15, or, in ca7se a compare-ble price has been
determined, as pr3--ided byr the !.ct, 110 percent' of 5 lch comparable price:
(2) the mrarLet price vre-railin.- for such coacrodi~tY on Octob~er 1, 1Y01; j))
the market price prevailing for ;uzh comali~;it." on Cecember 15~, 134L: or
(4) the average Trice for such, rexamedity during the period Juily 1, 1917 to
June 30,1 1920. 1.0 action with rseard to oil croos has beten trrken as y:et
under the aufhorit; of thiis A.ct.

Flaxseed Crushing~s at High Leve

With an unusually strone demand for lInT~eed oil, fl1ned crushings
in the first 6 months of thj 19~41 marset'nJ r (JTuly-DEeembPI r) totaled~ 25.2






- 6 -


FEBRCARY' 1942


million bushels, hq percent more thon a yarT earlier. This was the largest
crush for tbo period on record. On~ten.t of crude linneed oil amuno~ted to
488 million uoundls comparlrd wirth !7'5 ill-ion pounds in the corresnonding:
period of 1940. Some finc;easse in fzctory stocks took place, buit aopprent
d~isappearsnce of lin:seed oil in the oariod .Jul-LDcembter 19h1 vas about 45
percent greater t.;--a a ypar terier.

Soj-bean c~rush~inrs in +he first ourrter of cthe cu-rent marketing year
(Octo~ber-Dece-smber) am~ountr l to 19~.2 m-.llion buhels compare-d wJith 1 .6 mil- .;;;
lion bus~rhrls a ?r ?ariter. If barru~st ng hai not ben delayEd FV WOt
W6rFAhrl flr~ct-Oua~tar cr~,asings undubted;~ly. sJculd have 'teen larq r than they
were. A. reecird e--m of TnearlY 107 million bushels of saybSC'E enlb was rodced .
in ?191, of which E3 to 55 million bushels will. be avaiilable for cr:shing ,B
this siaso;n.

Peenat and cottonseed crushinqs are on a reduced scale this year, '3
reflecting tlM smaller on~tout of the-e cross in 1981 than in 1040. Produc--
tion of peanult oil, w!ic)? R-uted to 17h~ 7i~1ion rounds i? 1993~-41, may
not total more thsn 7F; mlllion counlt~ in th- =ivrenrt ~Tsor-so Similarly, the
output of cottonseed cil. vt~~if\ Inr-ints ed t 1,113j mnillicn ,-ounds last season,
may be 200G 3illion conslss:u e:o.Ct*;n4seed =r-shlngc in the
period A.1Plst-Ja~~c'! nter 1041 wc.-e onl:- 911/11t; z-rl'lr t..ar those of a year
earlier. But a largEr p3rPOrtIOn of t~h-e croo we crushed in that period this
sceasn and, with a poorer quality of seed, the yield of oil wrs only jO&
Pounds per ton of seed crook:ed c,:u~rard with -17 pounds a y-ear earlier.

Factory a~nd warehiluse Stoclks


Factory andi warehouse stocks of crude and refined fats and oils (in
terms of cru~de) totaled 2,232 million ocunds on? Decer.ber 31, 1941, a reduc-
tion of 206 million nourcds from sto-ks on hand at the beginning of the year.
Stocks of butter, linseed oil, corn oil, sobean oil, and fish oils made
fairly; Subtan~tial gains during the :rear; but thise p~ine were more than
offset by -narked decreases in stocks of cottonseed oil, lard, tallow and
greas-es, coconut 0.il, tung oil, whale oil, oalm oil, and olive oil. (Table j.)

In ;Idditiol to stocks of crude and refined oils, factory and warehouse
stocks of i-nsported cr.star beans and copra on December j1 armounted to about
71 million pounds (in terms of oil) compared with 54 million pounds a year
earlier. Stocks of cottonseed, flaxseed, and soybeans, excluiding farm and
country elevator stocks, amounted to about 815 million pounds (in terms of
oil) compareCd with 644 million pounds 9 year earlier, Stocks of certain
derived -?nd manrufactu~redl products in the hands of manufacturers amounted to
116 million pounds compared with 109 million pounds a year earlier. No
records are available as to stocks held by distributors or consumers.

Although stocks of fats and oils did not decline greatly in 1941, a
material reduction in stocks probably will take place this year in vjew of
the current high rate of consumption, the increasing purchases for lendl-.
lease shipments, and the curtailment in Cmmarts of oilseeds and oils resulting
from war in the Pacific.








FOS-60


-7


Imports of Conra and Certain Oils
Placp3d rnder C-ov rnment Con-t-cl

L~ape~sed oil, coconut oil, con-e, ralm oil, h818 rlnn oil were 93ided
to Lict A of stlbeteic rrateric'is in .-c~nend.-rnt Jo. 2 c Cone El Im).rts Order
M-6), issued by the IDirctor of Pricrities effective :anuiary 13. this amend-
ment, in effect, places imports of the items enumerated under governmental
cont. ol.

The order on imports (orivinally e!ffectie Decembe~r 2,7, 1941) p~ro-
hibits ~r, terson t~her therl the Me'als nre-seme COlnna .:, the ]'';ense UTSulies
Corpej;atic .or qn-, other goveJr'inments~ dep9:tmentT an. 0:. orcorp5]in o,
fro rankiine contlracts or oth- Irrlior r.-.enu- for I .'.,3 .1 s E,: teicC nRterials,
except by wri1-.ten sathori-at-;Jn of t;. Dir:_tor r orit,.iise. The order
further orv;hib~it orivlte owners .end con1*.iee- e ra ~r f~-ti ma.teriF from
disposing of any interest, from procesR'in 3t CI. .*a.*I~ lIc Th.,slicR l condition,
or from trsnsferrine Dosrpsessi or cl..-nant tlce I. --tion of such mnateriRl
except to rand fro~m th2 port of Iof~try to the pl C.- 7f :?nsual stor=.ee, with-
out Iwritten -"lthorization, by the D rector ut Pr;Jriti.- (no-.-= D~irector of
Industr: Operr tirns)i. *

Use of Cpsh-ev FNut Shell Oil F-stricted

General Preference Order :..-gr, jppied Yv th., Office of P~roduction
Managcement J nuary 13, li-mits tlhe ise of c"Shev :L't wellT oil to fulfillment
of defense orders b-aring prlfe~rnce ratigs of A-2' or better for the follow-
ing end products:

(1) Brrk~e linings.
(2) :3oldine resins for insulatine av'atlon in1itten .
(j) Resin solutions for imrnregniatine elict ic-al co~ils
(4) Suich other Droducts as mayr be desirnatec' t: the Director of
Priorities (now Director of Industry Overptions).

Cashow nut shell oil is an inedible industrial oil, normally imported
in small quantities from India.

Fats and Oils Inven'or Order Relaxed

Amendment '"3. 1 to Gencera Preference Order !-:-71, issued January 24
by the Acting Director of Priorities (now Director of Industry Orjerations),
eliminates the 90-day restriction on manufacturers' inventories of fats and
oils. Processors are now free to use fats and alls to fill contracts for
finished products without restriction, except thst no procesor may; produce
more of his product than is required to fill o~rd .r- F1d to give him a "prac-
ticable minimum wnrk~ing inventory" of finished~ -comets.

Ri~CEIT FMARGARI2 S S-TATISTICS

SData on production and consummation a~nd materials used in the manufac-
ture of margarine for 1941 and earlier yerrs are given in tables 4-8 of this
report. Production of margarine in 1941, at 368 million pounds, and con-
sumption, at 365 million pounds, were 15 percent larger than in 1940.







FEBRUARiY 1042


- 8


In absolute terms, coneump~tion of srargarne showed an increase of 47
mdi'lion counts in 1Y41. Consunction nf butter, on the other hand, was down
6'. million pounds. The~ comrbirned conl~- :nption of mlargsrine and butter amounted
lo 19.3 pounds ,er caplt9 in 131 1 cerm red wi~th 19.6 po.Lnds per capital in
1S40. Demandi for both tlatter. and ..ier4.rine was *rtronser thcrn a year earlier;
the increase in demand resulting fromr larrer conseiner p-docharirg power was
reflected chiefly in prices. Thle FverEge vlclss-le p.-ice of ??-score butter
at ChicPgo was j!.8 cents per pouni' in 1941, 14 pa ~cent hligher than in 1940.
The whzolesple price of vege~t ble mrrgyrine at Ch~icagp in 1941 wazs 15.8 aents
per pound, a gain of 7 percent over thle pr:or:;eou ar.

Aparoxrimately 297 million Dou!nds of fets snc'. oils were us~ed in the
production of ma~rgarine in 1941. Of this total, 50 percent consisted of cot-
tonsee~d oil, 215 percent soybean o~i!., 10 percent coconut oil, 6 percent oleo
oil, and seliler percentages of a number of other fets and oils. The propor-
tion of cottonseeid oil, coconut oil, and 0100 oil jin merearine was increased
in 1941, vkile the proportion of soybeen oil was reduced.

COMPARABAL.E PRICES OF PEAITJmS FOR O3IL ATEC SOYBEAU~S

In th7e ann~ouncement of J~nuairy 16 establishing revised~ production
Froals for arTicuilt'rlTB commoditieS in 19'42, provialon was made to support
the price of the 1o42 cran of' ?eenut for oil at 85 percent of the "comparable
price" as of the beginning of the marketing year (August 1), but in no event
less tha~n C.C7 per ton fo~r UT. S. N~o. 1 WEhite Spanirh ty-pe peanuts, $78 per
ton for U. S. No. 1 Runner t:,pe pe?nucs, and. $70 per to? for U. S. Class A
Virginia typFe peanuts, 3 -liviered at apnraved local receiving agencies. Pro-
vision also was mrade to support the price of 1342 crop snybeans at 8Ci percent
of the "crmparable price" a= of the biEinninE of the mark~eting year
(October 1), but ian no event less than $1.60 per bushel, farm basis, for
U. S. :10. 2 Yellowv soybeans of reene~nized varieties of high oil content.

Comparable prices of peanuts for oil in mid-January were as follows:
Average all grades, Spanish tyn,v-, $70 per ton; average all grades, Runner
type, $67.20 per toin; average All ,-r--de~s, Vireinia tYpe, $58.40 per ton. The
comparable price of soybeans for ciil in mid-January, United Stetes average
all varieties and Trades, was $1.!9 per' bushel. The comparable prices of
peanuts for jll hnd soybea-ns pro-bstly will be higher at the beginning of the
1942 marketing seas n thsn they were in mid-January, as comparable prices,
like parity prices, are calculated by mnultiolyine a fixed base price by the
current index number of prices vaid by farmers for commodities purchased,
including interest and taxes payable per acre, and this index may advance to
some extent in the next several months.

The legal requirements for establishing comparable prices and a dis-
cuscion of the method of computine such prices for Deanuts for oil and say-
beans are ev~en in the following sections.

Level Requirements

Public Law No. 147, 3eventy-seventh Congress, approved July 1, 1991,
extendine the life and increasing the credit resources of the Commodity Oredit







FOS-60


-9 -


Corporation, contains in section 4 the following provisions relating to parity
prices and comparable prices:

"See. 4. (a) W;henever d~ur'ne the r:: sting emner5Fncl th~e
Secretar:I of Aqriculture finds It newssery to e.1.couracw the
expansion or nrodulction of any 1non-bRsic ser~icultuTRa com~-
maity, he 1hall1 m~ake out~lic announcement thesreof anr he shP11l
so use thle fund4 made aVrustle u-r I"d sc~ct~ion 3 of tl1.1 Act orl
otherwisea madea availa'tle to hi for the dirpocPl of nrZicaLt'tral
camtc.OritieS, through a cmmodity loani-, slurchae or otle~r ons r-
Rti>n, takine ;nto, acco'lr.t t~h: totbl f-2.,''S evailable- for s'-cc
p'Luoro for "ll cjnmmodities, so as to siirart a rTice T'Cr 'he13
producers of~ anP such co~rmmdi~l with rownect tc w~ich ucr;h
announcement was made of not less thran C5 per cintumn of tht:
w rityl or =omparable p~ricrt therefor. The_ comlparrable DTi.ce- for
an:. su~ch comma rit shall1 bl determ;ined. anl ustrd by the Secretary,
for the purnoses of thi a-:t on if the ~r'edction or consump-
tion of such C:wr'-t,tyP P". onch -me~ in attfent or chairrctor
since the t-ye pw;i3; r- to~ : -1nt' a DL'Ce out Jf lineS with
parity price.F for basi'c L;nrr- t..?

"()I: is h~~ebreo d~clare~d :? tc t'7u -mal'cy of tke ConFress
thrrt the leadine and TjUrchse ove-~tratins of the renartmen~*t of
Arrienlture motherr th~an thjse referredl t- in fubsection (8)
shell b4 enrrfed! rot so Ps t7 b'ring the prirce p7n incosne of
the 3rodurcers of noln-baste conmmodities nol-t cjered' by any such
puzblic srnnouncementr to~ a fair parity relationship with other
commi~ities."

Peanuts f-r Cil

During the period 19091-1L, connercial production 7f monuCts was con-
fined ;lmost entirely t, the 1Prge-rve-ifed. '.'lrqinic t.roe r-r:wn in the VirginiR-
Carolina area. Production. of Spanish -?i e-ilthe stern ho~ner type vernuts,
grownr chiefl: in the Southe satern and Sou.tireste rn penn:1t arefs did not
became com~mercilll;- impoFrtant until !Jorkn ';r I.

Production d.-t for Deenuts cre n't evail h~le for th~e period. 190~9-14.
But it is known t'"at peanut production incre epd mraterially from that period
to 1919, the first y;e r fir which c ~overoble d~t? ere s8,oilable. Production
of peer.uts Diclred nd thresh~d everqed 6;31 million pounds Pnne~slly :n the
Sye~rc lol9-2j and 'Z.82 ::aillion --unds ir t: period 1929-}}. Production
incre-ed to 1,010 -illion. nouds in 1934 srnd to 11750 million. pounds in 19ko.
In 1040C, rappriximately j 34ercant of the totsl crip (largely "'irginia type
peanuts) wars produced in the Virgini?-C~rolir.? Pre-, 92 percent of the total
(1Prsely Spanish and southeastern Runner ty~pe peanuts) w.pS prilduced in the
Southeastern peanut area, and 14 percent of the total (lArFely Spanish tyrae
pe nuts) was produced i? the Sjuthwestern pepnut Irea.

In 1309-14, ea~nute were aold to the orublic ch7ieflyI in the form of
whole roa ted nu~ts and as salted nuts. Pennut butter is nowr the principal
food outlet for peanuts, and peanuts are extensively used! in peanut candy.
Some peanuts were crushed for oil in the period of World Wrar I. But during






- 10 -


the years 1910-]}, crus~i~ngs o~f farmers' stock nerenuts represented less
than p percent of the +0001 cultput. Beg;ining with the crop of 1934, peanut
production has e-=Frisr' L;-e requirements of the edib~le trade by a consider-
atle ma7rginr, an:! f7::1y~ 'arcre~ Ian~~titie of falrmers' stock peanuts have been
diverted to oil. -.: 's. I:rlvo.:~."eS accornted 'er 10 rercentt of the total out- i;
put in thed 1934l CraP:I; yer nd j2 pecremlt of the total outpult in the 19'40 crop.
year. If

A two-orice sy~stem for neouts~t was insugurrted with marketings of th~e
1941 crop, wi'th rpric-S for "lmprkepting ylctql: ea~nils a ffered support by a
dive~rslon rrpr:,Tr~ -rd with pr~ic for no no~ite p: nuts bein-- determinedd by
thelr S.Fle ;.lr :-'.1 -.;Id meanl, 70n r-.l-i.;-rl;. comnputed un~rity price is avail-
able for narrti vate tan.ts It is scribi'.e to obs. in the eqlui7valen of local
markEct orices o" re-.auts for oil fromn recoriS of theP Srn~1lus IHarketing
Admi~nistr ti n. I *.:i. r'cords begin i/;th r-;rktinpe of the2 C~rP of 19!4,
but. do not. include~ .!:r.R--in rs for '3he crop y o7r 19 6-j7 :.hen tiere was no
dliversinn D'program. Prices for thst yealr, howreve-', may be artirrseted from
quotations reported by oil mille to the Arriculturarl Ma~rketing Service.

On a pound bresi-,, the 1934-38 croo year overare orice of peLnutss for
oil, by t?jec, are a-s follows: 7irrinia t~Ype, 2.0 cents; southeastern
Runnerr, 2.4 cents; and ;jpanish, 2-5 cents. The average oil yield for Spanish
tyr3e prcanu1ts is about 7,0 percent of the total wreieht of the peanut including
shell. The averpeo oil :rielr flor southenstern Lunrcers is about 25 percent,
and for Vi~rrinia cjree rea.nrut: the rv;erpeo oil :.-ield is cout 25 percent. The
oil contained i= -,.nllts Is rl -1. hlPhe in crice~ thar. thle crrke and meal, used
-principjally as ah sh'-:..:*0tein '.-ed fo3r liv.s*;ock; hernce nearuts high in oil
ordllnarily will bring a hihE:lr "IorPice O romil millers than peanuts low in
oil. Thus the -trice of Virp r.',a? t:-e pear.ur.n for -.il I; consir'erably lower
than the prices fo- ot~hcr tyrss, altitoughl f::r edi le pur3oses Virginia type
peainnts ulsually rell at a prmiumi-. 74rerginiP t:- ,w lenuts also are low in
price for crushing purposes beca~use of the excdssive waste arising from the
large nronortio-n of se~ll.

Soybeans .

Production of soybeans as a commercial oil crooD is of such recent
origin that there re no 190q-14 basck data that could properly be used in ;
determIning~ parity prices fojr so.;berns according to the original Darity-
price formula. Before 19!4, sjlybeanrs were ororn on a~ very limited scale in
the United Staptes anrd vere used Dtr~iaril:, for seed in producing a forage
crop. During the 1?20's, prices f~r soyteams were much higher than they have
been in recent years whlen the bulk of the crop has been sold to oil mills for
crushing.

Regular annual estimates of soybtean. -rodu-ctiol begin in 1924. FPuring
the period 1924-}}, production of soybeans averaged less than 10 million

1/The crushing ficures indicated do not include low-quality shelled peanuts
rejecte-d by the edible trade.


~EBRUIAR7Y 194.2









P05-60


-11 -


bushels annually, ;.1i fP1ori:r s.,-tono l';F :- orn- e~ Dr n ~'e ;.-ears 1934-33,7
p~roduction was9 ;.n: ~ease to an. ~~'~ r~ r)_ of01I r-?:~ .; tr~~.-,nall; n~i
m~ore th-an b.--" ;f he'. o',"I o a~r': !" r- : 1. E:-:',' l -i cr- ensi?,-
have increes~ tr her c~nCe ;7 t. Ir'- -s c'l- '.m t::Tion trta~led



Dete.1 nt~i of Lr .cora' ~.1? r .T


Seven-~t,--sc-r .t Conc-re ?-. prl' 1'C E c;.). -+Ac rC..nn~r tl pr'l _C rtC r .?:.*-

ingn the r.-t' ra I in fr ??-:' c3C' alit:, i. Li re ?n t1#-&-1)
byt': [:.- *a th.3 aver'F Ir .?t~rc) ratii -I Tli:-. F.r ithe ft --


Chase~d, it.,-!. ~in- In~tirzt _n?. t :: T ..-ri.nt- (101l -i '= 1 'a-. i~vlorge. prices
for thea C;i 'C1si comm itii~es v ryp un l.3 ir ;r' ..ra n.: C t:h. r p-1ty, cries

numb.er of ?:ic. pil, in~cludine~ ;rnterei~t nit timer, --airs:-..: ii3. lin~re
twso fact rs were,- coalntie (.79 X 1-.30) to .give a sin-1 ji divisr o 10?.

Dividing the Ar.E~~ F:`e prc f the e"..'0en c.1mad)I'te ?.'*.;7 r'3i5Ss t:!e
price, in a feet, to a ',-ir pr~rit:, rejlaofcshir .'it: t.w~ Orrity nrices for
the bTasic c"!9rmedtl in the 141-33~ r::.ion i'Sn i!.omr:ytas
lates the a2,just;-i; price tackr to t!.." pre--mr!, 14C--1L, t.-se~ neried.

The csalculntion of cor~n-rrtle -r-r:ree. ,rr'nt:. Erem tlhe 1G1-14 ~Bse
price is the9 e-me to th~ cr c~alation r; pmi'i Tr'i c 'n mot ~commodrities..
That is, thP ~1010-1 be eE ro:r ;g 7ilullltclc 1- E-,~ a 7-oe ricr
prices vaid t:.: fATpn mers r co aPnot~ itle ~.-:-0E. i"''. 1-2 i':'.t ?Tad tax
paymsnt~s. Ir. ,ai-.J7.L9.u 1C: 10 2, M infer rl~amb -r t. .1 :,I Lor) 40 cent
bleher than in the~ 1 10 -1~ tr~rTIod

The6 F; you ~ ~ .;t 19; L-, ': 1-.- --*-r ? 3 r ery dete,-1ining the
base p~ricEs f T,. r.!L : r-n- Ce---(lr...- -I -: con~SF Driive in tha~it
period reprcc'nT~ rs-. l ..I -: r--' !.-tlo?~hips aonge prices
of the commodit":- 11 ., ,?r-:r C..1~:1 : C_ --:~. Ct13 1 F? coniuanrtion
recentlyI exltetr_ it:~ r:17 '.T't..F .~ -pl e t :rld conifli-t and
coincides wit:h t'~ :- st T;Lr n ?. ,- <104~ -o~lece-1 I1-' Colr s fo~r use in
making perity' DIriCF: concu3t.-ti ?nS i uel-C1.red red" @~..-l t3"?eCO).

The teric da~ta, meFthit of con-ut~;~tion, and rsul~ts: for Jan~uary 1944
are shown inl tnc follcwinP t--'le.


2/ The firlre of 7'] pe:cent is obtained by :r.-h.mi e1 tl-e retl=.1 prices and
the rParity~ prices of the b*.=.ic commod~iities: (.:nrn, who :rt, cotton, rice, 9n;;
tobacco) in the 19)'A-39 periSdl t;; thF. il.er-rs pr 4-.i..ctin of tkhese comnodities
in the samJ period. The weighted a,- ri-at- oC the -ct.al prices was divided
byr the weighlt,;d averegate of thes parity prices.







?KBILTY lot?


- 12


Table L1.- TwoJsr.+.te for coil snd say-oern4: AIv may rices received by farme,"s,
hu~rt; 11 E7~-~J =157 la.n'.J r!':wLT...r !194, base pri'ces, Bnd




Lyerageie : Lane : prica, :Actual
Conmmo i ty Unit :pr i ce, r ri ce, : Jan. -5, : price,
:Aue 14 -:(1 + 107: 1342 : Jan. 15.
:J.uljy 19) : 1/ :(2 x1. 4 J:18




vi: :~I (4.og S.MLD:
Runner~i tyre:~ ........: "" : .4 2. J.36 \'.l 8~

Virginia tyne ......,,: "' L. J k C2-.



Clumrr.s) 1 r.S (-), .Aericul t i'-1 bar et.re Service and S1urplus Marketing
A'ninsistretir7. cl_umns (2) ard !j) cocr.m~r' t
II Thle di.-d-r .3 ; wrset- inlEd 'ty .:.ul1 .il. ing the 1936-39 e~verage rating .
of rics rceiet .:'f~ra~rs for tbo five tasic co!.1oities to parity prices
for tke five basi- com?. i'ies ( e~igted aggregates,, using: production weighjts)
byr tbe aereree in"ex. nuatr~~ or' priceS p~id by' fqrmers, inculuina interest and -
tmle ir. ther some period (1910-14 2 L.OC). The computation is as follows:
0. i9he factor, 1.L-5 is the index number of prices pvil by farmers, including -
interest andi twe?, for J~nuar;; l, laoh2 (1010-14 =10)
i/ Simp.le 2verare~ of veir;hted c-op-year prices, year beeinning9 Ausust in the
jouthlest, 'eptiEmbr in tht Sout::ehst, "nd NT~.tmber in the Vireinia-Carolina
area..
4/ AvrerRge prices TNovembher 1934-OcItobecr 193q divided by 1.02, the adjustment
factor for that period.

On s ton basis, the mid-January 1942 comparable prices of peanuts for
oil av,~rege, all types) and soybean~s were $67.20 and $66.33, respectively.
The value of pe nuits for oil is considerably greater than the value of soy-
teenis, chiefly tooiause Dianuts yield about 28 percent oil by wreight (including
shell) while sayteam'I yrield about 15 percent oil. The price of oil per pound .
usually; is five or six timesi- higher thanr the price of high-pro~tein cake and
mea.l per pounds, thle other Principa;l product of edible oilseedsP. Peanut oil,
moreover, is of a hligher1 que.11~t~y for on-e,~l purpoJ'SeS n srll s P1 at a higher price
than sa bean oil.


;:B

























































907
",6J7

j315026
13 .739
114,221
+5- 10


- Continued


xl05-60


- 13 -


Table 3.- Pactorr- and wa~lSnire s Stockrs of =PP-cified9 fats, crude oils,
oil-be~ering~ raeric.1s (i:. t mei of crude oil) ,-n.' derived
products, UJnited State-s, Decester 31, 17~',-41

It~m 1- : 17 04 1941 1/


107,h21
1,293

4, ??
7,50;
195,447


1,gu 15.
//I52
57.739



1.5 .7


5.3J1
2'i0, 7j0


'.,09.1 lb .


101,552



2,434
0,579
6,Sh)
6,905
253,7110


Animal -fat-, and oil; -:
Butter ....... ............ .:
Grerses, excluding wocl eres: :
G-1reas, G:o 1 ...........,........:
LP.rd, inCl lring~ rlndered pork
frt .................... ......:
Ner.t's-foot oil .............. .:
01eo oil ............... ........:
Stee-ine, arbe~.1, edible .......:
Tallows, eclible .................:
Tallow, inef.ible ...............:


1,520
5,286 4
4 ,71
6, s0'4
Oj ,515


.......: 1,03 5,$5 13,fO1 7,2C9
.........:j 11',16 19 ,01 12,L5 1 0-9,291
.........: E2 ??4 che' 5T Bo? r,336
.........: ~~~~E7 71,0 7t .R ,1 ( 29

is 2/


Cod a--d cod-liver oil.
Fish oil .... ...
Marine nammal oil...


Yegetable oil, crur'e basi


Babassu oil ........,............: 1,761 G,225 7,E44 12,4614
Castor oil .....................: 17,187 12, 77 20,F;04 19,270
Coconut oil ..........:216,570 191,1':2 T58 0'5 195.74s
Corn oil .......................: r7,478 !I:,509S 21,15'1 511549
Cottonseed oil .................: T75),32!L 777,17. 67.5- 51j7,987
Linseed oil ....................: 161,80) 15,7 5.~cOM lr100579
Olive oil, edible ..............: 4,950 8, ~27 3,F;2 8,336
01ive-oil foots ................: 1,? 1, 21,025 14,299
Oliv oil, inedible ............: 862 26 905
Palm-kernel oil ................: 6,08 1 T 262 2,112
Palm cil ............:150,650 13.2 155,7i30 139,974
Peanut oil ............ 7, 57 =21,-'ho i;3 33 4j,61)
Perilla oil ...........: 1,622 15,153 5,966 4,985
Re-pa oil .......................: 2,959 6TC,5: b.545 13,421
Sesam~e oil .................. ..: 205 18 1g3 5z,4
Soybean oil ....................: 75,70? 71,502 oh, F53 112,967
Tung oil .......................: 6118 ,'."O 1 32'3 ~654C
Totpl, vegetable .....:1,}'~ 2 O~ 1.C 1.1.[ 1,rJ 21.,359,4C77
Total, animal rrnd veget-ale :2,j17,5 2j 2 1 ..- ~; S __, .2 73 2, 3 2, 716


Rayt materials (oil eauivalent):
abassu~ o nus 3Tprcent) ......:
Castor beans (45 percent) ......:
COIPp. (t;3 percent) .............:
Cottonssed (15.5 percent) ......:
Elaxseed (jl: percent) ..........:
SofTbeans (15 percent) ..........:
Total, raws mat-rials ......:


L/
2e8j36
42,574
400,502
239,079
17bays&
865.702


2,8 ?

29,261
45,tas


'070,8s7


378
6,9~02
44,206
jG1,275
92,614
1825J 4
687,980

























Grand~ total ............... :3,100, 57C j 3~, $ .978 3.35;1 3.23 4, 633

Comp~lied 'rau; r-parts rl: ta?~ dB went of the Ge-nsus excess for 'Llltter a~nd lard,
which a:re from coli stor...ce reports, Akriculltulrc.1 N:rkreting Service.


P/ Crude p~li .. :fir.ed converted p to crude basis. Defined oils hm~e been con-
-verted to cru~de basis br idividin3 byI the4 folloving factors: Zeb~ssu oil, earn ,
oil, cottonseed oil, ?r-.10-krrnal oil, an~d panlm oil, 0.93; coconut oil, peanut
oil, sad sobeaji oil, 0.74.
I/ !iot, ~slpratel? repoirted.


F~EERUARY l194L


;1


- 14 -


Table ',.- Factor -nd Isrhclouse st(cIks of I;neified fcats, crudle oilsW
oil.-?btaring Il tarIid S (il torms of crucej'. oil.) Pd Earived


products, United States, Deceaber 31,


193 8-bl-1


Conti:ued



1 O0'J Ib. 1 000 lb.

5,141 5,605

53 ,741 53,351 i'I!
27,120 j1,996
3,1'5 5.274
;,?77 9,207
1,757 2,02j
10~,01) ,5
_123,172 116.245 .


Ifo: 1~~ :0 st.1 o 0.

OthlEr nr3aces :
Ar.ilar.1 to-riine, inedible ......: 2, C32 2,0 CF2
ConnoundsE a~d vegetablol cooking:
fats ..........................: 55,632 56,621
:-yrogsnated oils ..............: 2,5 752
Lorr oil.......... *.. 8,?71'- 4,55
aF1 oil *............ 7, 71i5 65
Talow~ cil .....................: 1,:777 ,1S
Ve~geteble sterrin~e .............: 11,] 7
To~tel, othsr praiucts .....: 3'L2,cc 17,13







FO3S-60


- 15 -


Table 4.- 01eooargarine: Produ~ctio2 in the United St=.ter as reported
by the Agrricultural Miark!et~ng Service and.3 th7E Bureau cf
Interrnal hevenlue, lj 0.hl

: Aeric~ultursl -4arketine Zervice :Bureau of
: Un-olored : olored. :Internal
: *C:SinEd: :1 otPl :Revenue,
Yea :egtaleCombined Vege- : nimal : :uncolored: total
animal table
: and : otal *L and : Total : ad :uncolored
:nut. oi~l : a nd *vege- ::colored. : and
.n .ege taF le. ,nu~t oil table ::: colored
:1,000 1,0 0 1,00 1,000 1,00 l~ 000 1,000~ 1,000
: nuns cun s Douds nomad~s no7unds CU? acad ?Ounds Do'unds

1930o : 211,130 4 7, 017 2?a,147 4, 74? 8.5 .1.3,6 311 ,755 325 ,660
1931 :1201 52.976 21';,807 1,150 3.9s06 221,953 223,p27
1932 : 155,674 34,';04 q196,74 371 3,;c .7 3.his 1977716 203.232
1933 : 199,008 40, 719 239,727 70! 1,30C1 2,504 24231 25,472
1936 : 207,468 52,311 259, a73 Q 2,1120 2,921 262, 900 264,410
1935 : 329r764 4c;,077 3 5,751 asi6 1,9 ,42C 378,677 1,3
19 36 : 340,137 48,090 18,2 1,252 1 1 0 2,671 390, 30g 39j, 29 j
1937 : 349,477 40.320. 340,707 ass 745 1,701 391.500 347.380
1938 : 340,300 34,267 378,567 1,0j6 500 1,526 50093 335.234
1939 : 265.901 34,492 j00, 39 3 1 ,045 302 187 0190 300, 857

1940 : 277,375 40.881 318,256 1,942 674 2,41F; 32'?,672 320,402
1941 L]: 309.771 50,661 3Sn,432 3,725 10 4,777 365,209 367,513

Compiled As follows:
Agricultural Markretingq Service, resorts of mnanufactulrers.
Bureau of Internal Rev nue, annual reports of the Com.?.Ti~ssoer.
Data for earlier years oeginning 1918 are wivnn in "OlEo.na.rrigeri Statistics
of Pr~d~uction., Ma~tcrials used in MJanufactrue, Consump~tion, Tra7de, and Prices,"
Bureau of Agricu.ltural Economics, Auzust 1936;, p. 2.
Production reports to the 3uraeu of Internal nevenui are required by law and are
considered to be more accurate than reports to the Agricultulral Markieting
Service, which are voluntary; the latter are useful because they are broken
down into special classifications.
If Preliminary.






FEBRUA~RY 1942 16 -

Table 5.- 01eomargarine: Production, by states, 1936-40


Sta te

Total colored any
uncoloredl
IU. J. .
~h io .. .. .
Ind. .. .. ..
Ill. .. .

Iinn. .
10.- ... .
Ke-s .. .. .




=la. .. ..
Tex. .. .. .


Tear b~eginning Jolyl
: 305 : t; 19i5 : g)9 194C
:1,000O lb. 1,000s 1 1,000 lbt. 1.000 lb. 1,0030 lb.


I:
:I


II'*


.I

.!
i
:
r
.I
I
.r
:r
i


19.374
50,934
33,162
89,870
16,573
584
8,587
20,468
4,427
2

2.937
~37


1,424


25,966
50,706
37.594
104, j49
16,345
847
4,36j2
23,701
10,702

1,888
h,788
29)


401


.:24,219
,: 86,285
.:36,F69

.:14,626
.:1,215
.:11,145




.: 25,168
.: ,940



.:1,1C99


29,857
70.733
42,223
133,924
19,572
1,287
11,229
27,830
10,708



150
6,983
398
2,j84
k9,126
415,406


20,587
64,543
40,916

184,75"8-
761
8,300
22,948
9,809


1,599
521


1,427


........: 4),981
........: 38492597


........: :


.


Colo. .
O~req ..
Calif. ..


41,702 j8,6j1 44,18,
332,073 303.717 3.9,35


Collored
:i. Jr. .............: 466) 217 lay 21 568
'3hia ..............: 75 4 29 121,125
Ind. ..............: 55 57 23 3 ?
rIl. ..............: 475 564 693 417 1,143
Mo. ........: 338 247 102 129 14C
Kens. .............: 270 j17 553 236 320
ri. ............... : 243 270q 126 400 1,035g
S. C. .............: --- --- --- 26 74
rSa. ...............: --- --- 55 25 4g
lex. .......: 30 29 --- 37
Colo. .............: 18 5 -
U. s. 1! ..:......: 10 1,-449 1,j81 1,g60 4,4
:Total colored and iuncolored percentage
:of UJnited Ctates nrodu~ction in specified States
: Percent Percent Percent Percent Percent
N. J. .................: 6 7 6 6 g
Ohio ..................: 22 19 19 17 15
Ind. ..................: 9 10 12 11 11
Ill. ..................: 33 32 28 30 30
Mich. .........,......,: 5 6 5 5
Mo. ...............,....: j 2 2
Kans. ................,: 6 7 i
M~d. .. . :22
Texr. ...............,..: 1 2 23
Calif. ................: 11 12 13 1 13
Other .................: 3 1 2 22
Total ...............: 100 10100 100 100
Compiled from annual reports of the Commissioner of Internal Rievenue.
These data are not available on a calendar year basis. Data for earlier
years beginning 1599 are given in 01eomargarine, co. cit., pp?. 5-9.
IfTotals of unroundled numbers .
2} ess than 500 pounds.





If Preliminary.


FOS-60


- 17 -


Table 6.- Total anrd per canita disen~Perence of butter and rrargarine,
United Stntes,, 1.12-L1
: Ttal. d:isa wren~c" e : 91 ca itaipaac
Year : uttETr ausr-8ine : %.6 E. PLa"in ?I31Rl

: ,000? 13. 1,- 0 pt Lt. Lb~.


1, E8g, L;



1,C1(j 555
1,1,,093
1,715,500
;1,b! ,21
1, 60?,021 0

1,2,171 7i
2, 0F0,10)
2,055,694
2,17Lj),13
2,?16-0,054

2,1_3,128
2,1?17,19)
2,2ky,191b


2,3_C7,10 0


1F.6
10..5
17.2
11)
li.&
1;.8



17.1



18.5

17.5
17.0
17-3
1L'.1
18.2

17.9
10.3


17.8
17.2
16.6


18-1
13.0
184.4

19.1
18.5
17.1
18.7
18.2

19.8
20.0
20.0
20.5
20.4
20.1
20.j
19.9
20,0
19.83
14.8
20.4
20.j
10~.8
,9-8
19.9
20.1
19.6
19-3


115t,754

138,1'


2dy,71.7

355,(,e
j;3 ,7;6

13 ,$512
225,257
230,'i0

540,4-1
;75,728
31!c039
i352,29
72,232
L229,935
201,688

263,237
373,920
!30,995
397.301
3ss,196


36 .320


1.5
1.5
1.4
1.6
1.5
2.7
3.3
3.4

, 2.0
; .7
2.0
2.0

2.0

2.6
2.9
2.6
1.9

2.1
3.0
3.1
3.1
3.0
2.3
2.4
2.7


1912
191)

1915
1316
1917
1511
1920
1921
1922
192)

19j25
1"26
19'7

1329
1930
1931
1P32
1933
1J4




1939


Compiled as follows:
TIotal apnarent disappearance -
Butter, c~rompted from data on production ,-nd stocks, Agricultural
Marketing Service, and foreign trado, Foreign Commerce and
Navigaption of the United States. Exports include shipments to
United States territories.
Margar-ine, from annual resorts of the Co~missioner of Internal
Revenue. Figures are for quantity withdrawnl for general use,
tax paid, plus withdrawnm free from tax for use of the United
States in prisons and other Federal institutions.
Per cap~ita disarnearance based on total disappearance and July 1
population estilnates.






FEBEU~.4RY 13r2


- 18 -


Table 7.- 01eomargarine: Materials used in manufacture, UTnited States, 1931-41

Item : 1934 193 1 jd 15 7 1S3, 93 1940 ,1941
: 10( 1000 1,00 1,000I 1 000O 1,0C3 1, 000r 1,000
: pndsyout'spendsTowns ouns ognds pouds pounds

0Olo oil ........: 21,872 11,2C7 19,530 12,278 13,411 11,P66 4,3 18,415
01eostearine ....* 7 2,1312 j,550 3.1 5 342 3,067 3.386 3,058
Lard, neutral ...: 7 LSoD 3,oo5 2,1919 1 ,748 1,0 1355 5 100c~ 8 00
01leo stocK ......: 1,454 2,330 1,930 1,318; 1,532 1,042 1,260 1,919
Butter .. 11 --- -- -- -- -
Other anitel:
fats 1/ .......: --- --- --- --- --- 69 88 131
Monostear re ....: -- --- --- --- -- 76 165
Total, animal .: 071 ,26.2 26,0 1l' 13~j 19,689 17 ]} 24,21'r2 31 988
Cottons~ee oil ..: 54.77 99i,5jc-0 liE,10 173,6~17 1G,5 92,65;~c 115,9546 149.930
Soybean oil .....: 24 1,740 14,261 31,7C:1 33,855 70,8Z22 87,103 75,634
Poan~ut oil ......: 2,71'4 4,369 4,140 2,880 39 2,445 1,730 2,210
corn ail ........: 4 32 1,238 1,796 556 489 421 2
Other vegetable
oils ff .......: 1 40--- --- 27 12 11 12
Yegeta"Jle sum ...: --- --- --- --- ---_ --- 2 3/
Total, doreastic:
vegetaole ...: 57, 1 10 5,67 127,745 210,084 182991248205.213 228,4134
Coconut o il .....:12),bj'8 17 ,31j 1SJ10, 65 75,8C6 89}20j j8519 `21,780s 29,786
Babas~su cil .....: --- 1,gjb 16,114 14,60?7 11,547 1!3,92 6,150 946
Palm-kcrnil ril. -- 425 2,40.1 ,6 4, 746 473 957
palm oil ........: 66 j 1,4cO ,6 1 4 4,991
Sesume oil ...: 77 5:3 1 -- -
Other 4/ ........: --I 100 4 6 63 --- --- 104
Total, foreign :
vegetable ...:12_j,_744 176,758 170,594 97,423 10),852 52,935 27,,934 36,784
Total fat3 and :
oils ........:21_5,55 6jOS,6JS j)E,6E8 j26,226 312,=100 242,7F58 257,389 297_,185

Milk ........... :~~ 61,70) 87,)07 76,386 72,8646 7J,169 5s8r;,65 60,361 67,323
Salt ............: 15,725 21,076 20,044 17,631 16,916 12,889 12,728 12,628
Derivative of:
glycerine ....,: 674 1,222 1, 1LS 1,2Tj5 1,0C59 Th 23 841
Lecithin .......,: 22 22 41 92 60 98 261
Soda (ber.zoate:
of) ...........: 96 197 170 165 149 122 122 161
Vitamin commcn~akar --j 17 lr- 13 45
Miscollr.ne jus ...: 18 2 1 2 1 4
Total, other:
materials ...: 7e8,522 105,827 97,Zi2 311919 51,404 72,510 74,747 81 ,266
Total, all
mat rials ...:294,115 414,505 422,420 L18,145 403,904 315,268 352,136,3j78,451

Compiled from internal ^~evenue records and In~er:!al Revenue bulletin, Data frr
Earlier years beginning 191) are given in rleomargaine, op. cit., pp. 14-17.
SIncludes beef fat and cleastcarine oil.
SIncludes cottonseed stcarine, sayboan stearine, vegetable stearine, and miscel-
laneous vegetable oil. i
Less than 500 pounds.
/ Incrlude~s ouxciure oil, palm flakes, palm stearine, rape oil, rice cil, and
=onflower oil.







FOS-60


- -19 -


Table F.- 01comarge~irine Percentage contributed by principal
items lto thLe w~Eight of fats 11.6 cile u-ced in mea.Lfactu~re,
United Statz,, 120-41


Item


1934 193 1936 191) 19 193? 1940 1341
:tErcE nt .F Face .l PFzercen I'-1 3ent E least nerm en: PeCFrc~ ot lement


0100 oil ........: 10.1 5.9 5.6 3.E 4.3 4-9 5.6 6.2
Oleastearine *.. 1 6 .r .1 1. 1.1 1~ ~ .j 1.j 1.0
Lard neutral ....: 3.5 1.0 .7 .5 .5 .6 2.0 2.8
01eo stock ......: .0 .4 .5 .7
Total, an~imal..: 15. _. ".0 Zi L.L 7.2 9.410.8

Cottonseed oil ..: 25-4 32-2 3-3 5.2 us.7 13.6 45.0 50.5
Soy'vea oil .....: I. 4.4 4.8 12.8 29.2 jj.g 25.5
Peanut oil ......: 1.1.4 1.3 .rJ 1.1 1.0 .7 .7
Corn L'il ........: 1/ If 4 .d .2 .2 .2 .2
Total, domestic:
ve,-etable ...: 21. '7- 6.L 2 ].4 F6.5 5c.3 l. 7P.7 .76.9

Coconut oil .....: 57.4 56.5 4i.4 22.6 276 1. .5 10.0
Babassu oil .....: --- .6 5.0 4.5 3.7 5.7 2. 3
Palm-karnel oil .: --- .1 .7 2.4 1.5 .2 --- .3
Palm oil ........: 1,i 1/ .4 .3 --- 3/ 1/ 1.7
Total, foreign :
veg-eta~ble ...: _57.4 57.2 52-.b 29,. T 3!.8 21.8 10.9 12.37

Total fats and :
cils ........: 100.0 1000 10.0 100.0 100.0 100.0 100.0 100.0
Based on figures in taDoe 7. TOtals icclulde 0.1 pe~rcont or less of butter, beef
fat, oleostearine oil, monosteerine, cottonseed stearine, soybean stearine, veco-
ta Ile Stear-ine, miscellaneous vegetable Oils, vegetable gum, sesame oil, curicuri
oil, palm flakes, palm stoarine, rane oil, rice oil, and sunflouir oil in certain
years. Daeta for earlier years beginning 191) are given in Oleomarbarino, op.cit.,
p. 13.
IfLess than 0.0') percent.






FEPEUAE.Y 1942


- 20 -


Table 4.- 1.1010ale~ price of fatsfr and~ orls: Index-= numbers,
January 1940~ T.nd~. .I.941i, ]TOVemIb31-J, nury-: 100l1-82



: 1-O :001: ;07. : DeLC. : JPn.


Eirllt dan~C~e ic~ rfees il ils 1/....:


All fats rral oils~ !27 itsems) ..........:
Gran~s I Gl ori.;l::


7 ablt~3 e oil, rome-nstic ............:
V r..tsele oneP foreign .............:

-:'Lutt ?r .......... ..................:
"Eut2tr, ed..urtec 2/ ...... ..........:

Fco3 fat, other ....................:
Sep--T fat .. .. .. .. :
Dr- ing oils ................... ......:
Mincs l lane~ous cils .... .. .. :


122
87


69 57 93 $17 95


;5
C1
71
93

.70
59
,r6
69
70
103
102


C2
110
111


S1
i5
Ij
130
117 '


eo
118
117
149

7'
71
76
136
121
112
105


82
121
12j


801
79

140
126

107


DataFo:m rier-'ers e inia 010are.gien n Tc::iic .l 3u~lletin H~o. 737
(1?''O) E:nd ?.Te Fnte one. 0110 'ionerion~; beginnin27 3cember 19!01.
1/ 9.0-4 =10. / radjuPeted .`or t-rnical s asona-ll vrrintinn.

Teble In.- P-ice- o' specifi d. oil-bje-risn materials


: ..: J n. 1941-42
Item Lnit :17iu : E : 11ov. : rlec. : J n.
Castor beans, Erai~iian, : :3ollars~ Dst1-re Dou~-L rt Dollars Dollatrs
shipment, c. & f.,-
Uev Ycork ...................: Lon.; ton:. --- 51.00 03.12 77.25 78-70
Copra, bars, i.o.b.::
Pacific Coast .,.............: 10l0 lb. : 1.05 1.71 1!.02 5-12 5-50
Cottonseed3, U.S. fEarm price .:5 .Ojrt t3:n: 26.00 24 .46 Lk).21 h5 43 .24
r'laxesod', iFo. 1,::
linne~polis ,.......... .. u. : 2.1_8 1.73 .8 2.00 2.23
Florseed, U:. S. farn ?,rico ..: : 1.?4 1..51 .6 1.78 1.95
P~ea~.ut ~helled,::
Runer 7. ils : 00lb :5.),0 5.1? 7.o 8.3 g8O .67
Penu ,U.3.fo 1trco..:" : 356 3.25 4.61. 4.79 5-11
SoybeansF, lo. 2 ''ellowr,:
Chicago .,..................: BIl. :1.16 1.?1 1_.60 1.67 1.83
So.,rbeans, !.-. 8. ";rrr 3ric3 '. 1.01 .001.43 1.47 1.65

CompTiled? from OCl, Po'int an1: Z-u; ;Emportess, Dail. Grse al~letin (Clhicago),~--
Dail;,r I;arket Record (.lin,?~apolie), and re woric of the9 Agricu!ltural Marketing
Service.


i:























































Compiled as fellows:
Proan :tion of creamery butter and pean~ut oil, and cold storage hol.dings of
bt~t rn, ~7Isd and rendered pork fr~t, Arionlt~ural Marktleting SETVic.
Prod.::':In -under Federal inspection of Isrd and rendered porki fat, Bureau of
Animapl .kinistry.
Factor;y p:.-ouction and stocks of cottonseed oil, and stocks of peanut oil,
Bureauzv of' the Lensus.
If P r elir:ine -y. 2}Included with lard prior to November 191?0. Ij Orude plus
refined converted to crude basis by dividing by the following factors: Cottonseed
bil, 0.93: psanut oil, 0.94.


FOS-60


- 21 -


Tlabl 11.- Price per tonr of specified oilseed mneals, Jrnuc~ry 19~L 0 nd 1941,



a c-0 i'L : : L. :c. : Jan~.
: 00111 ..'.. .. a allr hc olr


Copra meal, Los Lagelcs ,.........: 26.75
Cottonseed meal, 41 percent:
protei1, Mremph~is ..............: 30.0 t
Cottonseed neel, 41 percant
protein, Chicese ..............: jij.35
Linseed meal, j7 parcent:
protein, Minn apalis ..........: ''t.70
Linseed meal, j p re~nt:
protein, New ~ork .............: jR..00
Peanut meal, 45 percent protein:
f.o.b. scutheartern mills .....: ].2
Soy'tean mesal, 41 pFacent:
protein, ChicaCgo ..............: 33.90


22.40 36.45 42.50 4s.30

2,'85 36.75 38.35 39.90

34.50 42.60 44.45 46.10

2?.50 35.93 38.50 39-50

25.40 j1.25 33.20 34.75

21.34 3b.97 40.65 44-12

29.75 33.13 42.50 46.85


Compiled from recorrds of the Ar-iculttral McsrketinG Service.
If aeGed, clots, except peanlut m~EFl.

Table 12.- production and ;tock-s of butter, lard, rerdered pork fat,
cottonsed oil, ;n pee.-nut oil, Geceanber 1939 ar.d
194C, Octter-Dcesnber 1?41

Item :Dec. : 1311
: 1 .0: 1040: Oct.: Fiov. : c
: E1.1. 1.b.Mil.1b. AIll.1bi. M4 .1i.1b.


Pr oduJc t ion:
creamery butter,~ ..............:
Lard, Federal in-spetion .,......:
Rendered pork fat g/ ............:
Cottonseed oil, crude ,.........:
Pennut oil, crode ........,.,....:
Stocks, and o~f nonth:
Butter .....................,.....:
Lard ............................:
Readarol ourk fat 2/ ...,........:
Cottonz-ed o-il, cruie basis 1/.:
Peanut oil, crude basis jj ...,...:


121.6
162.9
19.0
173.8
18.9

41-5
287.0
7.1
671.5
Lj.6


13i.h

15 3
208.5


186.6
17j.2
4.3
352.1


115.2
127.7
13r.9

11.5

152.5


453-3


117.9
113..
15,4.rr
8.6

114.4
1E1.2

508.0
43.6


110.3
172.1

159.2
2.9

55.5
162.1

777.2
21.3




UNIVERSITY OF FLORIDA

3 1262 08905 1576
'EBiirUAr.Y 1942 22 -

Table 13.- 0Olomatrgarine: Produlction pad ma=erials used in manufacshird,
United States, Dece.m'oe 19I ~ 9 and 1940;, Clctojbe;r-D~eceer 1941 T

: _;e: ac:~:be.. : 94
Item : 19~l ; 19403 O c~tober :Novemer ~Dece~i



Productive:
Colored. ........................: 150 24o 205 232
Unclord ................:2~~ 436_ 3~, 221 33lizii 32,270 1
Tota:~-l 2] .............. ...: 25.585SC 52. iL1 :4,060 32,503 3.4.6
Mat er' 1a l nat::
0100o Oil .......................: 876 1,:7 7 1.766 1,654
01eostes-2ne ...,................: 236 31278 179
La,-d c~ctr al .,................. : 206 7;;6 682 095
0160 stJk ........... 79 196 153 241
Ml~orFsnoa:ern ...........,,....: --- 1 16 16
Total, animal .....,..........: 1,397 2,729 2,895 2,815 fi

Cottonseed oil .................: 8,779 13,107 1),704 14,650 14
807test oil ................,...,: 7,5?5 8.549 4,694 3.761 S1
Fep;;u; oil .....................: 196 182 235 169
Corn cil ...................,...: 5h 7,4 82 106
Cottone-:ed stearine ,............: --- 1 --- ---
Totel, domestic vegetable ...: 16,F3 2 2'1,81 1:: i,7~2 18,68 6 19g

Cocor,.t oil ....................: 1,972 1,527 4,680 4,198 1;
Pabassu oil ............,.....,.,: 659 14 275 42 -
Palm; oil ............: --- --- 1,125 632
Palnflakess ................... ..: --- --- 16 32
Panlm-kernel oil .......,...,.....: --- --- 36 -1
Total, foreign vegetable ....' 2,631 1,541 6124,904 4
Total fats and oils ,.........: 20,6!'? 26,143 27(,7;9 26,405 2`,

Mil'r ...........................: 4,944 6,oyj4. 6,049 5.765 6,
Salt ...........................: 1,C059 1,241 1,155 1,084
Derivative of glycerine ........: 61 74 70 70
Lecithin ................,.,.....: 7 13 21 21
S~Ad !hnenoa'e of) .............: 9 12 15 15
vitamin concentrate ............: 1 1 7 9
Misellaneous .............,....: --- --- 1 2
Tc:01, ctter materials ......: ,2 7,375 7.318 6,966
To~te.1, _a~ll ~ mateials.....:2,75 3. .35,067 3' 3.31 3
Compiled from Internal rLvonue Records arnd Internal -i-evenue B3ulletin.
SProliminarry.
Total of unrounded nurSers.