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Dry milk market report for ...
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Full Citation
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Permanent Link: http://ufdc.ufl.edu/AA00011437/00003
 Material Information
Title: Dry milk market report for ...
Physical Description: v. : ; 21 x 39 cm.
Language: English
Creator: United States -- Bureau of Agricultural Economics. -- Market News Service
United States -- Bureau of Agricultural Economics
Publisher: The Dept.
Place of Publication: Washington, D.C
Publication Date: [1926-
Frequency: monthly
regular
 Subjects
Subjects / Keywords: Dried milk -- Prices -- Statistics -- Periodicals -- United States   ( lcsh )
Genre: federal government publication   ( marcgt )
statistics   ( marcgt )
periodical   ( marcgt )
serial   ( sobekcm )
 Notes
Statement of Responsibility: United States Department of Agriculture, Bureau of Agricultural Economics, Market News Service.
Dates or Sequential Designation: Apr. 1926-June 1938.
General Note: Title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 39506362
ocm39506362
System ID: AA00011437:00003
 Related Items
Preceded by: Powdered milk market report for ...
Succeeded by: Monthly dry milk report for ...

Table of Contents
    February
        Page 1932-2-26_1
        Page 1932-2-26_2
    March
        Page 1932-3-26_1
        Page 1932-3-26_2
    April
        Page 1932-4-29_1
        Page 1932-4-29_2
    May
        Page 1932-5-26_1
        Page 1932-5-26_2
    June
        Page 1932-6-25_1
        Page 1932-6-25_2
    July
        Page 1932-7-29_1
        Page 1932-7-29_2
    August
        Page 1932-8-26_1
        Page 1932-8-26_2
    September
        Page 1932-9-27_1
        Page 1932-9-27_2
    October
        Page 1932-10-27_1
        Page 1932-10-27_2
    November
        Page 1932-11-30_1
        Page 1932-11-30_2
    December
        Page 1932-12-30_1
        Page 1932-12-30_2
Full Text




^"E'BUARY 26, 1932.
'':


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY MILK MARKET REPORT FOR FEBRUARY-1932


WASHINGTON, D.C.


MANUFACTURERS' WHOLESALE SELLING PRICES DURING JANUARY
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS-
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
.O.B. FACTORY ON THE BASIS OF CASH OR" SHORT TIME-CREDIT. WIDE RANGES IN PRICES
MAY BE IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DRY SKIM MILK DRY WHOLE MILK DRY BUTTERMI LK
(BUL GOODS) (BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES.
POUNDS pouNDS
PRICE IN BAGS" -N BBLS. PnlCE r. P -POUNDS PRICE IN BAGS IN BBLS.


2 2 i0Q;000,oo
2 3 99,732
3 31 2,087,906
3 4 3,439,059
4 4;- 218,264
4- 5 144,789
5 5 174,955
5 2- 6
6 6 47,580
61 7-


.22.,200
1,078,434
2,352,382
2,261,133
1,759,539
1,501,166
71,494
616,331


14 151
I 16
l6 I7t
17 181

19- 20-1
201 2|1


173,301
15,400
171,950
3,971
142,275
77,895
1,408


21 310
?-4
15 -5
5~6~5
61 71
2 2
67 87
,?TL


637;8?I
2,616,119
38,738
2,800


42,750
10,000
23,575

10,700


TOTAL 6,312,285 9,662,679 586,2001 3,295,478 87,025
GRAND TOTAL 15,974,964 586,2001 3,382,503


AVERAGE PRICE JAN.
DEC.
JAN.


DRY WHOLE


1932
1931
1931


4.280
4.300
5.520


17.150
17.850'
20.940


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
MILK ( I LB. CANS) 38.800 PER POUND.


3.590
3.670
5.180


AS FOLLOWS:


WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS JANUARY
DRY SKIM MILK
(CENTS PER LB.)


BOSTON
NEW YORK
PHILADELPHI
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
'44.2.5 -

A 4.5 -
3.5 -
3.25 -
2


5.5
5.5
5.5
6
5.5
3.25


BBLS.
4.T25 -
4.48 -
4.7
3
3.25 -
3.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS
3.5
"- 3.65

3.6'- 4
4


BSLS.
4.625 6.5
4.5 5.5
5, 5.5
4.5 5.5
4.5 5.5


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.


IN BAGS
(POUNDS)


9,482,374


TOTAL STOCKS ON HAND
FEBRUARY I, 1932


IN BAR-ELS
(POUNDS)


TOTAL POUND


S(A) FIRMS*


2,389 1,471,859 2,292,858 15


13,697,081


23,179,455**


II II z -= ,1 -


19,763


3WDER 0 4,446


5,315,329


1 9,763


4 4 T


4,446
5,652,113


122
2
5
69


336,784


(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 818,610 POUNDS.
*EQUIVALENT TO 32 DAYS REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON FEBRUARY I WERE EQUAL TO APPROXIMATELY 32
DAYS' REQUIREMENTS, IN COMPARISON WITH 30 DAYS ON JANUARY I,
1932. CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
FEBRUARY I, 1931,WERE THE EQUIVALENT OF A 54 DAYS' SUPPLY.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS


TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING


PREVIOUS YEAR


FEB. 1,1932 I


FEB. 1, 1931


PREVIOUS MONTH


------------


FIRMS*


FEB. 1 ,193


.JAN. 1, 1932


WHOLE MILK 12 2,285,020 1. 3,479,230 14 2,172,858 2,180,907
SKIM MILK 98 22,081,384 36,271,341 116 22,581,095 21,646,692
PART SKIM 2 19,763 50,042 2 19,763 18,299


CREAM POWDER 44 4,420 75,739
* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT
FIRMS OPERATE MORE THAN ONE FACTORY,

(OVER)


4,446


4,894


NUMBER OF FACTORIES SINCE SOME


FEBRUARY 1932


FIRMS*


-----~-L- T'


--


------


- ---'--' -







PAGE 2


ORP DUCT I ON OF DRY MILK REPORTED BY MANUFACTURERS JANUARY


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES. ____--


CLASSES OF
DRY MILK


FIRMS*


O. COMPA I SON OF PRODUCTION
PREVIOUS YEAR


JAN. 1932


( JN. 1931


" 1


POuNoDS) FOR SAME FIRMS


FIRMS*


PREVIOUS MONTH
JAN. 1932 DEC.


WHOLE MILK 11 806,131 403,846 12 696,672 757
SK I- M ILK 98 15,54 977 16,367
SK I/iM MILK 98 15,549,390 1 6-,946,493. 15 6,174,977 16,36
PART SKIM 2 15,967 .14,619 .. 2 15,967 12
CREAM POWDER 2 6,014 0 3 6,549
1 -7n 0 A r P 2


BUTTERMI LK


3.099,182


S2.801 .224.


1 651


. . _ ... .. ._


3, b ,45 I 5P9O


1931
,.0 10
7,037
?,281

2,505
7','505


REPORTS. INDICATE THAT JANUARY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 0.274; BARRELS :'87.01 ; CASES 12.72;
DRY SKIM MILK: 48.14o .51.86J.
DRY PART SKIM: I" 0 1.00,006.
DRY BUTTERMILK: -- 96.941 3,06. :
PRODUCTInN DRY SKIM MILK DECEMBER 1931 (ALL FIRMS WHICH REPORTED) 16,439,330 LBS.
* FIGURES SHOWING NUMBER OF FIRMS 00 NOT REPRESENT NUMBER.OF FACTORIES SINCE
SOME FIRMS OPERATE-MORE THAN ONE.FACTORY..

EXPORTS AND IMPORTS OF DRY MlILK-DURING JANUARY 1.932


PORTS


POUNDS.

84,152

7,291
5,259
15,297
27,749

5,040
9,307
12,218


5,072
6,221

27,937
54,958


EXF
EXPORTS TO
EUROPE
UNITED KINGDOM
NORTH AMERICA,
UANADA
HONDURAS
MEXTlCO
PANAMA
SOUTH AMERICA
BRAZIL
COLOMBIA
VENEZUELA
ASIA
BR-. MALAYA
JAPAN
OCEANIA
PHILIPPINE IS.
OTHER COUNTRIES


TOTAL JANUARY 1932


TOTAL JANUARY 1931


CASEIN IMPORTS JANUARY

DRY MILK MARKETS EASY


260,501


366,085


.: v. IMPORTS
IMPORTS FROM
EUROPE
BELGIUM
NETHERLANDS
UNITED KINGDOM

NORTH. AMER:ICA.
CANAQA


;' TOTAL -" JANUARY 1932


_~ - -


TOTAL JANUARY Ia9I


.1932:
182,1BT~-Es.


- -.- .


POUNDS

132
13,797
216

40,641


54,786
90,095
1931
592763TLBs..


TO WEAK BUYERS RELUCTANT TO MAKE CONTRACTS


THE FEBRUARY DRY MILK MARKETS SITUA-
TION WAS VERY LARGELY A REFLECTION OF
CHANGES IN OTHER DAIRY PRODUCTS MARKETS.
IN SYMPATHY.WITH SHARP PRICE REDUCTIONS
ON BUTTER AND CHEESE DURING JANUARY, THE
LEADING MANUFACTURERS OF DRY SKIM AND
BUTTERMILK REDUCED QUOTATIONS CENT PER
POUND IN EARLY FEBRUARY. SINCE THIS DE-
CLINE, THE TONE OF THE MARKET HAS HELD
FAIRLY STEADY. IN A FEW QUARTERS, HOW-
EVER,THERE. WAS STILL CONSIDERABLE PRICE
SHADING.

THE BETTER GRADES OF SKIM MILK AGAIN
HELD THE FAVORED POSITION., WHILE BUYERS
OF THE LOWER GRADES OF DRY MILK, WHICH
ARE USED FOR ANIMAL FEED,. CONTINUED TO
OPERATE LARGELY ON A DAY TO DAY BASIS,
APPARENTLY IN ANTICIPATION OF STILL LOWER
PRICES. DESPITE THE-FACT, HOWEVER, THAT
FEEDERS AND FEED MANUFACTURERS ARE KEEP-
ING STOCKS AT A MINIMUM, THE VOLUME OF
DRY MILK MOVING INTO THESE CHANNELS CON-
TINUES TO COMPARE QUITE FAVORABLY WITH
THE COMPARATIVELY LIGHT DEMAND OF A YEAR
AGO. MANUFACTURERS ARE STILL CURTAILING
PURCHASES OF RAW MATERIAL IN AN. EFFORT TO
REDUCE PRODUCTION'.

DRY MILK PRODUCTION DURING JANUARY,
THE LATEST MONTH FOR WHICH DEFINITE COM-
PARATIVE FIGURES ARE AVAILABLE, WAS,3.4
PER CENT LIGHTER THAN DURING THE SAME
MONTH IN 1931, IN COMPARISON WITH A PRO-
DUCTION DURING DECEMBER 12.0 PER CENT
UNDER A YEAR AGO. DRY SKIM MILK PRO-
DUCTION, WITH A DECREASE OF 8.2 PER CENT.
LNDER A 'YEAR AGO WAS THE ONLY CLASS OF
DRY MILK SHOWING A LIGHTER MAKE THAN LAST
YEAR. THE PRODUCTION OF DRY BUTTERMILK,
FOR INSTANCE, WAS 10.6 PER CENT HEAVIER
THAN A YEAR AGO AND WAS AT LEAST IN PART,
A REFLECTION OF THE 2.7 PER CENT HEAVIER
MAKE OF CREAMERY BUTTER. COMPARED-WITH
THE PREVIOUS MONTH, JANUARY DRY MILK PRO--
DUCTION SHOWED A GAIN OF 4.2 PER CENT '


COMPARED WITH A GAIN OF 0.9 PER CENT DUR-
ING THE SAME PERIOD IN 1931, AND OF 5.9
PER CENT DURING THE SAME PERIOD IN 1930.

STOCKS OF ALL CLASSES OF DRY MILK,
EXCEPT BUTTERMILK ON WHICH FIGURES FOR
LAST YEAR ARE NOT AVAILABLE, WERE
APPRECIABLY LIGHTER ON FEBRUARY 1 THIS
YEAR THAN LAST YEAR, THE TOTAL DEFICIT
AMOUNTING TO 38.8 PE CENT. AT THE PRE-
VAILING RATE OF CONSUMPTION, FEBRUARY I
STOCKS OF DRY SKIM MILK WERE ONLY
SUFFICIENT TO LAST THE COUNTRY FOR 32
DAYS, IN COMPARISON WITH 54 DAYS ON THE
SAME DATE A YEAR AGO AND AT THE THEN PRE-
VAILING RATE OF CONSUMPTION. COMPARED
WITH'THE PREVIOUS MONTH, STOCKS OF DRY
MILK, INCLUDING BUTTERMILK, INCREASED
7.2 PER CENT.

SALES OF ALL CLASSES OF DRY MILK,
AS DURING THE PREVIOUS SIX MONTHS, WERE
AGAIN HEAVIER DURING JANUARY THAN DURING
THE SAME MONTH A YEAR AGO ALTHOUGH NOT
BY SO LARGE A MARGIN AS DURING OTHER
RECENT MONTHS, BUTTERMILK SALES, BEING
55 PER CENT HEAVIER THAN IN JANUARY LAST
YEAR, WERE STILL RELATIVELY THE HEAVIEST.
.THE AVERAGE SELLING PRICES, AS COMPUTED
FROMIREPORTED :SAtEBS, WERE FRACTIONALLY
LOWER ON ALL PRODUCTS, BUT THE PRICE
DIFFERENCE BETWEEN THIS YEAR AND LAST
YEAR WAS AGAIN FURTHER REDUCED AS DECLIN-
ES .DURING JANUARY THIS YEAR WERE NOT
NEARLY AS MARKED AS THOSE DURING JANUARY
LAST YEAR.

CASEIN MARKETS ARE IRREGULAR BUT
EASIER, QUOTATIONS HAVING DECLINED ABOUT
1 CENT DURING THE LAST MONTH. BUYERS
ARE CONSERVATIVE AND ARE OPERATING MOST-
LY ON' A HAND TO MOUTH BASIS. THIS
POLICY RESULTS IN BUT FEW'CARLOT SALES,
AND IN A RESTRICTION OF THE TOTAL VOLUME
OF CASEIN MOVED. SUPPLIES CONTINUED
FULLY AMPLE. QUOTATIONS, F.O.B. ATLANTIC
SEABOARD, WERE GIVEN AS FOLLOWS: 20 TO
30 MESH, 7 TO 7- CENTS; 80 TO 100 MESH,
8 TO 81 CENTS.
fj


FEBRUARY .1932


So69 6OL80 dA 9Zl .
v( lO]-i^ do AIISaIsAiNn


cc-
L~4,


- -I` -----


--t


i


C


-i-


7


I







MARCH 26, 1932.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE


WASHINGTON, D. C.


DRY MILK MARKET REPORT FOR MARCH 1932
MANUFACTURERS' WHOLESALE SELLING PRICES DURING FEBRUARY
THE WHOLESALE PRICE GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
.0.8. FACTORY ON THE BASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY BE IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DRY SKIM MILK DRY WHOLE MILK DRY BUTTERMILK
(BULK GOODS) (BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN B LS. PRICE POUNDS PRICE IN BAGS IN BBLS.
2 2-. 187,500 14 14- 82,200 2 2- 7,000 -
S- 3 958,446 14 1 9,734 21 3 969,453
3 3 4,073,689 329,500 I5 Is 177,626 3 4- 1,817,434
3 4 -1,588,488 1,354,364 I.1 171 316,460 41 121,164 55,661
4 588,166 3,932,753 17 - 216,16 1000 19,200
4 5 1,363,949 "" 71-
5 6 59,682 1,813,790 7 10,250
25- s 651,588
6 61 81,920 65,201
61 7 61,212
7 7 8,548
2


TOTAL 7,537,891
GRAND TOTAL


AVERAGE PRICE FEB.
JAN.
FEB.


DRY WHOLE


9,580,905
17.11 .79R


'- _________- ____


4.030
4.280
5. 150


1932
1932
1931


802,181
802 181
16.500
17.150
19.640


2,916,051 85,111
3,001,162.
3.620
3'.590
4.720


WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
MILK (I LB. CANS) 39,710 PER POUND.


WHOLESALE SELLING PRICES-F. 0. B. DISTRIBUTING POINTS FEBRUARY
DRY SKIM MILK
(CENTS PER LB.)


BAGS


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


3.5
3.29
3.5
3.4
2.75
2.5


4.5
4.'5
4.5
6
4.5
3.5


BBLS.
5 -
3.63 -
4.707 -
3
5
4.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS
3.5
3.5 4
4
2.9
3.5


BBLS.
4.75 5.5
3.25 5.07
4.5
3.8 5
4.5 4.75


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE E CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF MARCH I, 1932
DRY MILK I N BAGS IN BARRELS L MS
WLFE L (POUNDS) (POUNDS) TOTAL POUNDS(A).FIRMS

S'. WHOLE MILK 14,914 1,140,379 2,021,447 17
I -
SKIM MILK 9,357,316 13,346,105 22,839,282** 120

PART SKIM 0 20,740 102,057 3
SCREAM POWDER 0 7,760 7,760 5
SBUTTERMILK 5,442,962 273,633 5,716,595 68
A) INCLUDES CABE GOODS AS FOLLOWS: WHOLE MILK 866,154 LBS;
KIM, 135,861 POUNDS; PART SKIM, 81,317 POUNDS.
**EQUIVALENT TO 32 DAYS'REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON MARCH I WERE EQUAL TO APPROXIMATELY 32
DAYSf REQUIREMENTS, IN COMPARISON WITH 32 DAYS ON FEBRUARY I,
1932. CALCULATED ON THE SAME BASIS A YEAR AGO STOCKS ON HAND
MARCH I, 1931 WERE THE EQUIVALENT OF A 56 DAYS' SUPPLY.

COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING


ULASSES UF
DRY MILK


WHOLE MILK


PREVIOUS YEAR PREVIOUS MONTH


FIRMS*


MAR. 1.1932


2.019.321


MAR. I .1931


2.946.731


FIRMS*
17


MAR. I, 932 FEB. 1,1I~


2.021,447


2,339,549


SKIM MILK 99 21,600,195 36,779,243 117 22.667,299 23,126,360
PART SKIM 3 102,057 107,383 3 102,057 76,454
CREAM POWDER 3 7,019 71,989 5 7,760 4,446


* FIGURES SHOWING NUMBER OF FIRMS DO NOT
FIRMS OPERATE MORE THAN ONE FACTORY.
/


REPRESENT NUMBER OF FACTORIES SINCE SOME


(OVER)
MARCH 1932


r--~-


I


-


I~


\






PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS FEBRUARY


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING CRY rILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUND:) FOR SAME FIRMS
CLASSES OF PREVIOUS YEAR PREVIOUS MONTH
DRY MILK FIRMS* FEB. 1932 FEB. 1531 FIRMS* FEB. 1932 JAN. 1932

WHOLE MILK 13 714,0J91 345,260 _15 718.,50 696,672

SKIM ;I9LK 95 15,214,064 14,746,187 113 16,406,102 I6,750,834

PART SIlIM 3 43,533 17,169 3 43,533 41,759

CREA_.4 POWDER .2 : 3,081 11,600 3 4.,330 6,549

BUTTER!I LK 60 2,624,248 3,913,350 66 3,401 ,205 4,021,723
REPORTS INDICATE THAT FEBRUARY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: -'BAGS 12.73%; BARRELS 78.10%; CASES 9.171.
DRY SKIM M.ILK: 4.31 51.44% 0.25%..
DRY PART SKIM.: -- 0 30.800 63.20.
DRY BUTTERMILK:.- 96. 17% 3.83%.
PRODUCTION DRY SKIM VILK JANUARY 1932 (ALL FIRMS WHICH REPORTED) 17,128,494 POUNDS.
*FIGURES SHOWING'NUMBER OF.FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY MILK DURING FEBRUARY 1932


EXPORTS
EXPORTSS TO
EUROPE
FRANCE
UNITED KINGDOM
NORTH AMERICA
CANADA
MEX Ico
PANAMA
SOUTH ,',ERICA'
BRAZIL
COLOAMBIA
VENEZUELA
ASIA
-T I NA
JAPAN
OCEAN A
PHI LIPP I E IS.
OTHZR COUNTRIES


POUNDS

30,726
22,467

5, 160
16,683
33,651

23,610
8,161
19,860

10,824
10,165

15,285
54.847


IMPORTS
IMPORTS FROM
EUROPE
UNITED KINGDOM

NORTH A ,'ERICA
CANADA


POUNDS

318

S7,932


TOTAL FEBRURY 1932 251,439 TOTAL FEBRU,~RY 1932 68,250
TOTL FEBRU,'.RY 1931 1,000,528 TOTAL FEBRUARY 1931 193,009
JAN. FE. (INJC.) 1932 511,940 JAN. FE3. (INC'.) 1932 123,036
JAN. FEB. (INC.) 1931 1,366,613 JAN, FEB.. (INC,) 1931 283,104


CASEIN IMPORTS FEBRUARY
CASEIN IMPORTS JAN. FEB. (INC.)


S1932
139,451 LBS.
309,438 LBS.


1931-
578,639 LBs.
1,171,300 LBS.


DRY VILK M.'ARK'TS IRREGULAR 0DEAND LESS ACTIVE


THE MARCH DRY ,MILK MARKETS SITU-
ATION "IAS MORE OR LESS IRREGULAR IN
SYMPATHY WITH OTHER DAIRY PRODUCTS
MARKETS, ACCORDING TO THE U. S. BUREAU .OF
AGRICULTURAL ECONOMICS. PRICES HAVE RE-
AAINED GE.JERALLY UNCHANGED EXCEPT FOR
OCCASIONAL DISTRESS SALES IN SCATTERED
MARKETS. THE BETTER GRADES OF SKIM MILK
AGAIN HELD THE FAVORED POSITION, WHILE
BUYERS OF THE LOVER GRADES CONTINUED TO
OPERATE ON A DAY TO DAY BASIS IN ANTICI-
AATION OF FURTHER MARKET DEVELOPMENTS IN
THEIR FAVOR. AN ENCOURAGING FACTOR IN
THE SITUATION IS THE FACT,. HOWEVER, THAT
DESPITE THE BUYING CURTAILMENTS OF FEED
.ANUFACTURFR'S AND FEEDERS, THE VOLUME OF
DRY MILK MOVING INTO-THESE CHANNELS
COMPARES QUITE FAVORABLY WITH THAT OF A
YEAR. AGO. MANUFACTURERS CONTINUE TO
CURTAIL PRODUCTION IN AN EFFORT TO KEEP
REDUCTIONN AT A LOW LEVEL.
TOTAL DRY MILK PROD'JCTION DURING
FEBRUARY, THE LATEST MONTH FOR WHICH
DEFINITE COMPARATIVE FIGURES .RE AVAIL-
ASLE, 'lAS 2 PEP CENT LIGHTER'THAN DURING'
THE SAME MONTH IN' 1931, IN COMPARISON
WITH A DEFICIT PRODUCTION OF 3 PER CENT
DURING JANUARY UNDER THE 3AME MONTH A
YEAR AGO, AND Ie PER CENT DURING DECEMBER
UNDER A YEAR AGO. DRY SKIM MILK PRO-
DUCTIOJ ."AS 6 PER CENT HEAVIER BUT THE
OUTPUT OF DRY BUTTERMILK WAS 33 PER CENT
LIGHTER THAN A YEAR AGO. COMrPARED WITH
THE PREVIOUS I.'ONTH, FEBRUARY DRY MILK
REDUCTIONN SHOWED.A DECREASE OF 4 PER
OENT, THE OUTPUT OF-ALL CLASSES OF DRY
MILK, EXCEPT DRY WHOLE AND PART SKIM MILK,
BEING LIGHTER IN FEBRUARY THAN INJANUARY.
STOCKS OF :ALL CLASSES OF.DRY MILK,
EXCEPT 3UTTERFILK ON WHICH NO FIGURES FOR
LAST'YEAR ARE AVAILABLE, CONTINUED TO
SHRINK. MARCH I SUPPLIES WERE ACTUALLY
41 PER CENT LIGHTER THAN ON'THE SAME DATE
IN 1931, IN COMPARISON WITH A DEFICIT OF
39 PE. CENT ON FEBRUARY, OF 3.-PERCENT
)N JANUARY I, OF 34 PEr CENT ON DECEMBER I,


OF 30 PER CENT ON NOVEMBER I, AND OF 18
PER CENT ON OCTOBER I. AT THE PREVAILING
RATE OF CONSUMPTION, MAC'- I STOCKS OF
DRY SKI'. MILK WEE. ONLY SUFFICIENTLY LAST
THE COUNTRY FOR 32 DAYS, IN COMPARISON
WITH 56 DAYS ON THE SAME DATE A YEAR AGO
AT THE THEN PREVAILING :ATE OF CONSUMPTION.
COMPARED WITH THE'PREVIOUS MONTH, STOCKS
OF DRY MILK, INCLUDING BUTTERMILK, WERE
REDUCED ABOUT 4 PER CENT.
SALES OF ALL CLASSES OF DRY MILK
WERE APPRECIABLY HEAVIER DURING FEBRUARY.
THIS YEAR THAN LAST YEAR. THIS HAD BEEN
THE RULE DURING THE PREVIOUS SEVEN MONTHS.
THE AVEnAGE SELLING PRIOES, AS COMPUTED
FROM REPORTED SALES, WERE FRACTIONALLY
LO'WEr; ON SKIM AND WHOLE MILK, BUT HIGHER
ON BUTTERMILK. THE PRICE DIFFERENTIAL IN
COMP,.RISON WITH A YEAR AGO WAS MATERIALLY
REDUCED ON ALL CLASSES.
CASEIN MARKETS LOST FURTHER
STRENGTH DURING MARCH AND AT THIS WRITING
(MARCH 25) THE TONE IS WEAK. THIS WEAK-
NESS' IS ATTRIBUTED'BY DEALERS, NOT SO
MUCH TO THE.SUPPLY SITJATION 'SICH, AFTER
ALL, IS ABOUT NORMAL, 3UT' RATHER TO THE
DECaIDEDLY SUB-NORMAL DEMAND. PRICES HAVE
WORKED' FRACTIONALLY LOWER IN RESPONSE TO
AN INCREASED WILLINGNESS OF MANUFACTURERS
TO SELL. QUOTATIONS, F.O.B. ATLANTIC'
ScABOARD,' RANGED 'FROM 61 TO 7 CENTS FOR -
THE 20 TO 30 MESH PRODUCT, AND FROM 7 TO
8 CENTS FOR 90 TO 100 MESH GOODS.
ARGENTINE CASEIN "'AS FREELY 'OFFERED AT
2. TO 2 CENTS, C. I. F, NEW YORK,.BU-T
BUYING INTEREST WAS VERY NOMINAL.
IMPORTS OF CASEIN INTO THE UNITED STATES
D'lRING 1931 AMOUNTED TO 3,5000O0
POUNDS IN COMPARISON WITH 13,500',000
POUNDS DURING 1930.. THERE WERE NO
EXPORTS DURING .EITHER YEAR.


MARCH 1932


ZLLL 6LO8 ZN9UZ

VGalOiI Ao AIISS3AINn








APRIL 29, 1932.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE


WASHINGTON, D.C.


DRY-MILK MARKET REPORT FOR APRIL 1932
MANUFACTURERSr WHOLESALE SELLING PRICES DURING MARCH
THE WHOLESALE PRICES GIVEN PELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, "WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY. ON THE BASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY BE IN PART ATTRIBUTED TO DIFFERENCES -IN QUALITY OR GRADE OF PRODUCT SOLO.
DRY SKIM MILK DRY WHOLE'MILK DRY BUTTERMILK
(BULK GOODS) ( ULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE- POUNDS PRICE IN BAGS IN BBLS.
2 210 190,3.14- 14 14 156005 I. 210 28,669
2 3 1,670,392 14 15 29,362 21 3 1,384,657
3 3 4,704,398 1,112,353 15a- 16- 105,232 3 4- 2,649,963 97,032
3- 4 1,189,292 999,726 1 17 332,538 I I ,r00
4 4 376,675 4,127,078 7 - 2,089 5 34,512
4-5 4,086,166 -
5 5 57,611 324,232 7- 8 10,000
;- 6 956,889
6 6 93,270 36,600
&6 7
7 7 3,808
T 81 ,952 I,646,85 625,2 4,063,2y9 b52,544
GRAND TOTAL 19,928,804 625,226 4,215,833
AVERAGE PRICE MAR. 1932 3.850 15.850 3,460
FEB. 1932 4.030 16.500 3.62
MAR. 1931 4.68 18.830 13.660


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS
MILK (I LB. CANS) 38.53 PER POUND.


WERE AS FOLLOWS:


WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS MARCH
DRY SKIM MILK
(CENTS PER LB.).


BOSTON.
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIs


BAGS
3.25 5
2.5 5
3.5 5.5
3 -6
2.75 4.5
2.5 4


BBLS.
3.77 6
3.43 6.25
4.25 6
3 -6
3.8 6
4.5 5.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS
4
3.5 4
4
2.5
3.15


BBLS.
4 5.5
4 5
4.5 5
4.4 4.75_
4.5 4.75


MANUFACTURERSV'STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF APRIL I, 1932
DRY MILK IN BAG IN BARRE TOTAL POUNDS(A) FIRMS
POUNDS POUNDS
S, WHOLE MILK 8,179 :1,080,195 1,907,331 17
'SKIM MILK 9.603,042 12,778,423 22,514,779** 129
ii PART SKIM 0 18_,928____ 96,461 _3,

CREAM POWDER 0 2,919 2,919 4

S=I BUTiTERMILK 5,692,185 264,184 5,956,369 71 /
,A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 818,957 LBS;
SKIM, 133,314 POUNDS; PART SKIM, 77,533 POUNDS.
**EQUIVALENT TO 31 DAYS' REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON APRIL I WERE EQUAL TO APPROXIMATELY 31
DAYS' REQUIREMENTS, IN COMPARISON WITH 32 DAYS ON MARCH I,
1932. CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON
HAND APRIL I, 1931 WERE THE EQUIVALENT OF'A 57 DAYS' SUPPLY.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS .
CLASSES OF TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
-- FIRMS* APR. 11932 APR. ,1931 FIRMS* APR. 1,1932. MAR. I. I
HOLE M-ILK 15 1,905,770 2,689.565 17 1I907,331 2.21
.SKIM MILK 104 21,241,683 37,152,119 124 22 481 ,579 23 339 ,3 .
PART SKIM 3 96,461 108,887 3 96,461 102,0 E
cPEAM POWDER ;3 2,519 65.708 4 2,919 T -
rGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE PCME
FIRMS OPERATE MORE THAN ONE FACTORY.

(.oP vER-)
SAPRIL L',1932/






PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS MARCH


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMs* MAR. 1932. "MAR. 1931 F:IRMS*' MA. 1932 FEB. 1932
WHOLE M1LK 16 854,855 693,399. 17 743,659 740,910

SKIM MILK 101 17,271 ,053 19,529,6.19 120 18,823,315 16,964,299

PART SKIM 3 11,822 20,172 3 11,822 43,533

CREAM POWDER 3 0 20,924 3 0 ....4,330

BUTTERMILK 61 2,991 ,787 3,366,240 67 3,943,681 3,438,931


rEPORTS INDI


CATE THAT MARCH PRODUCTION WAS PACKED AS FOLLOWS:


DRY WHOLE MILK:- BAGS 1.8.28%; BARRELS 65.86%; CASES 15.86%.
DRY SKIM MILK: 47.04%; 52.92; 0.04%.
DRY PART SKIM: 0 88.63%; 11.37%.
DRY BUTTERMILK:- 96.30%; 3.70%.
PRODUCTION DRY SKIM MILK FEBRUARY 1932 (ALL FIRMS WHICH REPORTED) 17,053,601 POUNDS
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND .IMPORTS OF DRY MILK DURING MARCH 1932


EX
EXPORTS TO
EUROPE
FRANCE
ITALY
UNITED KINGDOM
NORTH AMERICA
CANADA
HONDURAS
MEXICO
PANAMA
SOUTH AMERICA
ARGENTINA
COLOMBIA
PERU
VENEZUELA
OCEANIA
PH-'IL-PPINE IS.
OTHER COUNTRIES
TOTAL MARCH 4932
TOTAL MARCH 1931
JAN. MAR. INC.)
JAN. MAR. (INC.)


PORTS ,


1932


193I


POUNDS

18,650
13,185
30,000
7 220
9,235
12,223
44,795

26, 50
9 279
8,202
14,891


IMPORTS
IMPORTS FROM
EUROPE
NETHERLANDS
UNITED KINGDOM
NORTH AMERICA
CANADA


POUNDS

27,547
324

63,900


II ,453
74,.242______
279,425 TOTAL MARCH 1932 91,771
2,282,476 TOTAL MARCH 1931 105,847


3.6 4. 8 na


791 .135


JAN. MAR


I. -- -


,IAM. MAR. ( IN.


,-- , .v- I .r....... . ",,'v / ..-. .%'


2 14,807U


CASEIN IMPORTS MARCH
CASEIN IMPORTS JAN. MAR.(INC.)


1932
167,256 Les.
476,694 Las.


1931
203,696 LBS.
1,374,996.LBs.


DRY MILK MARKETS CONTINUE IRREGULAR TRADING SLOW


THE APRIL DRY MILK MARKETS SITU-
ATION CONTINUED IRREGULAR-NOT ONLY IN
,SYMPATHY WITH UNSETTLED DAIRY MARKETS IN
GENERAL, BUT ALSO IN RESPONSE TO THE UN-
CERTAIN FEED MARKET REQUIREMENTS, ACCORD-
ING .TO THE U. S. BUREAU OF AGRICULTURAL
ECONOMICS. ALTHOUGH THERE WERE .SOME
PRICE REDUCTIONS, THESE WERE NOT AS
SEVERE IOR AS GENERAL AS ON BUTTER,
CHEESE, AND CASEIN. THE BETTER GRADES OF
DRY MILK, USED FOR HUMAN FOOD, CONTINUED
TO HOLD THE FAVORED POSITION, AND WHILE
THERE WAS A SLIGHTLY IMPROVED DEMAND FOR
THE LOWER GRADES IN A FEW QUARTERS, THE
MOVEMENT OF THIS CLASS OF GOODS INTO OON-
SUMPTION WAS GENERALLY DISAPPOINTING. AN
ENCOURAGING FACTOR IN THE CURRENT DRY
MILK MARKETS SITUATION, HOWEVER, IS THE
FACT THAT DESPITE THE REPORTED BUYING
CURTAILMENTS OFpt EEDERS AND FEED MANU-
FACTURERS THE VOLUME OF DRY MILK MOVING
INTO THESE CHANNELS CONTINUES TO EXCEED
THAT OF A YEAR AGO. STOCKS CONTINUE
APPRECIABLY LIGHTER THAN IN 1931, WHILE
PRODUCTION IS ESTIMATED AS STILL FALLING
SHORT OF THAT.OF LAST YEAR#
TOTAL MILK PRODUCTION DURING MARCH,
HE'LATEST MONTH FOR WHICH DEFINITE
COMPARATIVE FIGURES ARE AVAILABLE, WAS
ABOUT 10 PER CENT LIGHTER THAN DURING THE
SAME MONTH IN 1931, IN COMPARISON WITH A
DEFICIT PRODUCTION OF 2 PER CENT DURING.
FEBRUARY UNDER THE SAME MONTH A YEAR.AGO.
3RY SKIM MILK PRODUCTION, WHICH IN
-EBRUARY WAS 6.0 PER CENT HEAVIER THAN A
fEAR AGO, WAS 11.5 PER CENT LIGHTER DUR-
InG MARCH. DRY BUTTERMILK PRODUCTION,
HOWEVER, WHICH DURING FEBRUARY WAS 33:0
PER CENT LIGHTER THAN DURING THE SAME
MONTH IN 1931, WAS ONLY I IPER CENT
-IGHTER DURING MARCH. THE ONLY CLASS OF
3RY MILK SHOWING A HEAVIER PRODUCTION DUR-
iNG MARCH THIS YEAR THAN LAST YEAR WAS
VIOLE MILK WITH A GAIN OF .3 PER-CENT.
COMPAREDD WITH THE PREVIOUS MONTH, MARCH
DRY MILK PRODUCTION SHOWED A GAIN OF 11.5-
PER CENT, THE OUTPUT OF ALL CLASSES OF
MY MILK, EY.'FPT PART SKIM MILK AND CREAIk
P'I-.-E.p .El sV -.r'n.nll -.r. TIlAN IN FEBRUARY.


STOCKS OF ALL CLASSES OF DRY MILK,
-EXCEPT .BUTTERMILK FOR WHICH NO FIGURES
ARE AVAILABLE FOR LAST YEAR, CONTINUED TO
SHRINK. APRIL 1 SUPPLIES WERE ACTUALLY
42 PER CENT LIGHTER THAN ON THE SAME DATE
A YEAR AGO, IN COMPARISON WITH A DEFICIT
OF 41 PER CENT ON MARCH 1,-39 PER CENT ON
FEBRUARY I, AND 38 PER CENT ON JANUARY I.
COMPARED WITH THE PREVIOUS MONTH, STOCKS.
OF DRY MILK, INCLUDING BUTTERMILK, WERE
DECREASED 2.4 PER CENT OR SOMEWHAT MORE
THAN DURING MARCH IN OTHER YEARS.
SALES OF BOTH DRY SKIM AND BUTTER-
MILK-CONTINUED APPRECIABLY HEAVIER THAN
LAST YEAR, THE INCREASE IN REPORTED SALES,
DURING MARCH OVER THE SAME MONTH IN 1931
AMOUNTING TO 11.0 PER CENT. SALES OF DRY'
WHOLE MILK, HOWEVER, WERE SLIGHTLY
LIGHTER. THE AVERAGE SELLING PRICES WERE
FRACTIONALLY LOWER ON ALL CLASSES IN
MARCH THAN IN FEBRUARY, BUT THE PRICE
DIFFERENTIAL UNDER A YEAR AGO WAS
MATERIALLY REDUCED ON ALL CLASSES BUT
ESPECIALLY ON BUTTERMILK, THE MARCH
AVERAGE PRICE.OF WHICH WAS ONLY 0.20
CENTSUNDER THAT OF MARCH, 193I.
CASEIN MARKETS. CONTI NUED WEAK OUR-'
ING APRIL AND PRICES REACHED A NEW LOW
POINT. TRADING WAS GENERALLY DULL AS
BUYERS' WANTS WERE NOT ONLY CONSIDERABLE'
BELOW NORMAL, BUT ALSO BECAUSE PURCHASERS
SHOWED NO INTEREST IN ORDERS BEYOND
IMMEDIATE NEEDS. WHILE SUPPLIES OF CASEIV
ARE SAID TO BE LIGHTER THAN A YEAR AG0
THEY WERE FULLY AMPLE FOR ALL NEEDS. CN".
SIDERABLE QUANTITIES OF PACIFIC COAST IADF
CASEIN CONTI'NUEDTO REACH EASTERN MARKI79*.
QUOTATIONS, P. 0. B. ATLANTIC SEABOARD,.
WHI VERY IRREGULAR CENTERED AROUND
TO 4 CENTS FOR THE 20 TO 30 MESH PRODL:.T,
AND TO 8 CENTS FOR 80 TO 100 MESH 3000$
ARGENTINE CASEIN WAS GENERALLY QUOTED AT
2 TO 2- CENTS, BUT BUYERS DISPLAYED
LITTLE INTEREST AS A 5- CENTS DUTY WOU'-
HAVE TO--BE PAID ON THIS CLASS OF GOOD."
BEFORE I-T WOULn BE REL'EAr- :'," fvLnl;
.f-f-' LP ,AI -


........ .... ... APRIL_ 932 ,


(INC.) 1.932


i


1931


388.961


OC.L 6ZZL80 Zg9 1 C

voIIIIIIIIIIIIIIIIIi1111 o II iiiNn
Val~fO -14 ::1 AJIS =IAIN R







MAY 26, 1932.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE


WASHINGTON, D.C.


SDRY MILK MARKET REPORT FOR MAY 1932
MANUFACTURERS' WHOLESALE SELLING PRICES DURING APRIL.
S THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE oASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY BE IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DRY SKIM MILK DRY WHOLE MILK DRY BUTTERMILK
(BULK GOODS) (BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
2 2 0 1,779,952 1,650 12 12O 112,200 1 22 467,644
2 3 2,400,658 43,085 121 13- 39,200 21 3- 4,830,829 -
3 31 5,600,961 893,169 13 12,750 3 4 418,778 61,000
3- 4 614,422 1,709,609 14 I5 11,220 4 90,000 9,513
4 4 258,732 4,659,638 1 I6. 35,200 5s 6- 19,400
4. 5 3,500 3,267,543 I 171 422,300 7-
5 5,543 333,117 903. 8 8,200
5. 6 771,613
6 6 113,920 84,652
TOTAL 10,777,688 11 ,74,076 633,773 5,807,251 98, I13
GRAND TOTAL 22,541,764 633,773 5,905,364
AVERAGR PRICE APR. 1932 3.640 14.830 3.140
MAR. 1932 3.850 15.850 3.460
S APR. 1931 4.120 18.440 3.310


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
MILK (I LB. CANS) 38.560 PER POUND.
WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS APRIL
DRY SKIM MILR
(CENTS PER LB.)


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
3.5 4.5
2 4.5
3.5 4.5
2.7 6
3.5 4.5
2.25 3


BBLS.
4 6
2.5 6.25
4.75 6
3 6
3.96 6
3.2.5 5.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS
3.5
3-4
3.28 4
2.3
3.5


BBLS.
4.75 5.5
4 4.5
4.5
4 4.75
4 4.75


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLO) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF .MAY I 1932
DRY MILK IN AGS N BARRELS TOTAL POUNDS(A) FIRMS
(POUNDS) (POUNDS)
WHOLE MILK 1,778 1,057,813 1,696,637 17
SKIM MILK 9,364,822 12,191,185 21,577,274** 126
PART SKIM 0 17,216 190,636 3
CREAM POWDER 0 35,922 35,922 4
BUTTERMILK 4,574,567 216,506 4,791,073 70
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 637,046 LBS;
SKIM, 21,267 POUNDS; PART SKIM 173,420 POUNDS.
**EQUIVALENT TO 30 DAYS' REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR-THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON MAY I WERE EQUAL TO APPROXIMATELY 30 DAYS!
REQUIREMENTS, IN COMPARISON WITH 31 DAYS ON APRIL I, 1932.
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND MAY I,
1931 WERE THE EQUIVALENT OF A 57 DAYSI SUPPLY.

COMPARISON OF TOTAL. STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
DFIRRMS* MAYI 1932 MAYI 1931 FI RM S* MAY I 1932 APR. 32
WHOLE MILK 15 ,693,409 2,712,081 17 1696,637 1,907,331
SKIM MILK 102 20,544,531 36,935,695 126 21,577,274 22,530,479
PART SKIM- 3 190,636 118,190 3 190,636 96.461
CREAM POWDER 3 35,608 54,758 4 35,922 2,919
* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF'FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

(OVER) .. .,I.M .


MAY 1932






PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS APRIL


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* APR. 1932 APR. 1931 FIRMS* APR. 1932 MAR. 1932
WHOLE MILK 16 662,733 891,343 18 777,526 857,264

SKIM MILK 99 19,872,920 20,983,240 123 21,374,552 18,742,899

PART SKIM 3 193,370 15,454 3 193,370 I11,822
CREAM POWDER 3 39,500 14,991 3 39,500 0

BUTTERMILK 63 4,145,932 4,102,874 67 4,736,790 3,937,883
REPORTS INDICATE THAT APRIL PRODUCTION WAS PACKED AS FOLLOWS;
DRY WHOLE MILK: BAGS 10.26d; BARRELS 63.33a; CASES 26.41 .
DRY SKIM MILK: 51.08 48.82; 0.10.
DRY PART SKIM: 0 10.32; 89.680 .
DRY BUTTERMILK: 97.270 ; 2.732.
PRODUCTION DRY SKIM MILK MARCH 1932 (ALL FIRMS WHICH REPORTED) 19,032,302 POUNDS.
* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY MILK DURING APRIL 1932
EXPORTS IMPORTS
EXPORTS TO POUNDS IMPORTS FROM POUNDS
EUROPE EUROPE
UFRANCE 36,495 -DENMARK 135
UNITED KINGDOM 300,875 UNITED KINGDOM 324
NORTH AMERICA NORTH AMER ICA
HONDURAS 7,041 CANADA 5,400
MEXICO 55,221
PANAMA 15,263
SOUTH AMERICA
ARGENTINA 32,960
BRAZIL 8,595
COLOMBI A 6,393
VENEZUELA 8,154
ASIA
RFNG KONG 10,145
JAPAN 24,966
OCEANIA OCEANIA
PHILIPPINE IS. 37,797 NEW ZEALAND 205
OTHER COUNTRIES 54,933
TOTAL APRIL 1332 598,838 TOTAL APRIL 1932 6,064
TOTAL -APRIL 1931 ,44,341 TOTAL APRIL 1931 54,691
JAN. APR. INC.) 1932 1,339.973 JAN. APR. (INC.) 1932 220,871
JAN. APR. (INC.) 1931 5,063,430 JAN. APR. (INC.) 1931 443,642


CASEIN IMPORTS APRIL
CASEIN IMPORTS JAN. APR.


1932
30,858 Lss.
507,552 LBs.


(INC.)


1931
89,227 LBs.
1,464,223 LBs.


DRY MILK MARKETS BARELY STEADY WITH UNDERTONE IRREGULAR DEMAND IMPROVED


DRY MILK MARKETS IN MAY, WHILE
GENERALLY MORE STABLE THAN DURING APRIL,
WERE NOT MORE THAN BARELY STEADY WITH
THE UNDERTONE STILL IRREGULAR, ACCORDING
TO THE U. S. BUREAU OF AGRICULTURAL
ECONOMICS. AS IS USUAL AT THIS SEASON OF
THE YEAR, THOSE GRADES OF DRY MILK WHICH.
ARE USED FOR ANIMAL FEED RECEIVED THE
BULK OF ATTENTION AND PRICES ON THIS
CLASS OF GOODS WERE FAIRLY WELL MAINTAIN-
ED. THE BETTER GRADES OF DRY MILK, ON
THE OTHER HAND, MOVED SLOWLY AND PRICE
.CONCESSIONS WERE STILL QUITE GENERAL.
DESPITE THE COMPARATIVELY UNSATtSFACTORY
DEMAND, THE VOLUME OF DRY MILK MOVING
INTO CONSUMPTION STILL COMPARES VERY
FAVORABLY WITH THAT OF A YEAR AGO. THE
LIGHTER PRODUCTION IN COMPARISON WITH
1931, AND THE RELATIVELY HEAVIER CON-
SUMPTION OF DRY MILK, IS REFLECTED IN
STOCKS WHICH ARE STILL APPRECIABLY LIGHT-
ER THAN LAST YEAR, ALTHOUGH PLENTIFUL
FOR ALL NEEDS*
TOTAL DRY MILK PRODUCTION DURING
APRIL, THE LATEST MONTH FOR WHICH
DEFINITE FIGURES ARE AVAILABLE, WAS 4 PER
CENT LIGHTER THAN DURING THE SAME MONTH
IN 1931, IN COMPARISON WITH A DEFICIT
PRODUCTION OF 10 PER CENT DURING MARCH
UNDER A YEAR AGO. DRY SKIM MILK PRO-
DUCTION, WHICH IN MARCH WAS 11.5 PER CENT
LIGHTER THAN A YEAR AGO, WAS ONLY.5 PER
CENT LIGHTER IN APRIL. DRY BUTTERMILK
PRODUCTION, WHILE 33 PER CENT LIGHTER
THAN A YEAR AGO I FEBRUARY, WAS ONLY II
PER CENT LIGHTER IN MARCH, AND IN APRIL
ACTUALLY SHOWED AN INCREASED MAKE OVER
APRIL, 1931 OF I PER CENT. THE MAKE OF
DRY WHOLE MILK, PART SKIM MILK, AND CREAM
POWDER WAS RELATIVELY HEAVIER DURING
APRIL THIS YEAR THAN LAST YEAR, BUT THE
QUANTITIES PRODUCED ARE RATHER INSIGNIFI-
CANT IN COMPARISON WITH THE PRODUCTION OF
SKIM AND BUTTERMILK. COMPARED WITH THE
PREVIOUS MONTH, THE APRIL OUTPUT OF DRY
MILK SHOWED A GAIN OF 15 PER CENT, THE
MAKE OF ALL CLASSES EXCEPT DRY WHOLE MILK,
BEING HEAVIER THAN IN MARCH. IN 1931 THE
SEASONAL PRODUCTION INCREASE FROM MARCH
TO APRIL AMOUNTED TO ONLY /U PER CENT.


STOCKS OF ALL CLASSES OF DRY MILK,
EXCEPT BUTTERMILK FOR WHICH NO COMPARATIVE
FIGURES ARE AVAILABLE.FOR LAST YEAR,
CONTINUED TO SHRINK. MAY I STOCKS WERE
ACTUALLY 44 PER CENT LIGHTER THAN ON THE
SAME DATE A YEAR AGO, IN COMPARISON WITH
A DEFICIT OF 42 PER CENT ON APRIL I, 41
PER CENT ON MARCH I, 39 PER CENT ON
FEBRUARY I, AND 38 PER CENT ON JANUARY l.
COMPARED WITH THE PREVIOUS MONTH, STOCKS
OF DRY MILK, INCLUDING BUTTERMILK, WERE
DECREASED 7 PER CENT OR SOMEWHAT MORE
THAN IN OTHER YEARS.
REPORTED SALES OF ALL CLASSES OF
DRY MILK DURING APRIL EXCEEDED THOSE DUR-
ING THE SAME MONTH A YEAR AGO BY AN
APPRECIABLE MARGIN, SALES OF BUTTERMILK
BEING 1,300,000 POUNDS HEAVIER. THE
TOTAL INCREASE OF ALL CLASSES AMOUNTED TO
7 PER CENT. EXCEPT FOR A FULL CENT
DECLINE IN THE AVERAGE SELLING PRICE OF
DRY WHOLE MILK FROM MARCH TO APRIL, PRICE
CHANGES WORE RATHER NARROW. THE PRICE
DIFFERENTIAL UNDER A YEAR AGO HAS
CONTINUES TO SHRINK ON SKIM.AND BUTTER-
MILK, THE APRIL AVERAGE PRICE OF THE
LATTER BEING ONLY 0.17 CENT PER POUND
UNDER THAT OF APRIL, 1931.
CASEIN MARKETS CONTINUE WEAK IN
TONE, AND THE SITUATION IS STILL GENERAL-
LY UNSATISFACTORY IN SO FAR AS MANU-
FACTURERS AND MOST DEALERS ARE CONCERNED.
BUYERS CONTINUE TO OPERATE FOR CURRENT
NEEDS ONLY AS THEY CAN NOT, APPARENTLY,
SEE ANY INCENTIVE TO ANTICIPATE FUTURE
WANTS. CASEIN CONSUMPTION IS SAID TO BE
LIGHTER THAN LAST YEAR. PRODUCTION NIS
ALSO REPORTED AS LIGHTER THAN IN 1931 IN
FACT, SOME MANUFACTURERS ARE DISCOURAGED
AND A'.RE SAID TO BE CONSIDERING THE CEASING
OF OPERATIONS UNLESS CONDITIONS IMPROVE IN
THE NEAR FUTURE. QUOTATIONS, F.O.B.
ATLANTIC SEABOARD, WERE LISTED AS FOLLOWS;
20 TO 30 MESH, 5L TO 6 CENTS WITH SOME
OFFERINGS DOWN TS 5 CENTS; AND 80 TO 100
MESH, 7 TO 8 CENTS. ARGENTINE CASEIN WAS
QUOTED AT 2 TO 2- CENTS,'C.I.F. NEW YORK,
BUT WITH A 5 CEITS DUTY TO BE PAID,
INTEREST WAS VERY NOMINAL.


MAY 1932


969 6Z980 9Z\ C

I I I1 do Aisa3IIINl
V(ONbO-- :10 AIIS89AINN









JUNE 25, 1932.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY MILK MARKET REPORT FOR JUNE 1932


SWASHINGTON, D.C.


MANUFACTURERS' WHOLESALE SELLING PRICES DURING MAY
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE BASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY RFB I 1 PAT ATTIRIITEO TnO DIFFER l I IN UAI .1TY OR. GRADE OF PRODUCT SOLD.


DRY SKIM MILK DRY WHOLE MILK I DRY BUTTERMILK
(BULK GOODS) 4. (BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. I 'PRICE POUNDS PRICE IN BAGS IN BBLS.


t 2,321,756
3,909,390
I',860,374
914,591
4,346,246


5,214.
1,208,757 '
2,036,240
3,651,887


0,400 4,414,867
5,300 331,038
- 722,565


85,350 73,344


TOTAL 13,483,407 12,443,912
GRAND TOTAL 25.927.319


137-1410
14 l-15)

161-17i
2 2iS~


--


67,500
26',460.
161,428
56,398
1,089


312,875
312,875


AVERAGE PRICE MAY 1932 3.740 15.640
S APR.1932 3.64I 14.830
S "I MAY 1931 3.770 18.020


WHOLESALE PRICES REPORTED ON CASE GOODS


1l -2*
-2


22
6 7-


390,680
5,134,047
433,447
95,935


6,05


WERE AS FOLL


19,900

20,000

36,442
4,050


54,109 80,392
6,134,501
3.130
3.140
3.28
LOWS:


DRY WHOLE MILk (I LB. CANS)


- 39.19 PER POUND.


WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS MAY


BOSTON
NEW YORK
PHILADELPHIA
OHICAGO
CLEVELAND
ST. Louis


BAGS
3.25 4.5.
2.5 4.5
3.5 4.5
2.8 6
2.8 4.5
2.25 3.5


DRY SKIM MILK
(CENTS PER LB.)
B-LS.
4.25 6 KANSAS CITY
3 -6.25 SEATTLE.
4.5 -5.75 PORTLAND
3 7 Los ANGELES
3.96 6 SAN FRANCISCO
3.25 -5.5
MANUFACTURERS' STOCKS OF DRY MILK


BAGS
3
2.5 4
4
2.3
3.10


BBLS.
5 5.5
4 4.5
4.5
4 -5
4.5- 5


TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.


TOTAL STOCKS ON HAND
CLASSES OF _JUNE 1,1932
DRY MILK IN BAGS IN BARRELS TOTAL POUNDS(A)FIRMS*
_POUNDS) (POUNDS) OTAL
S WHOLE MILK 4,018 859,636 1,776,328 13
, SKIM MILK 8,344,140 13,477,684 21 953,796** 116
w PART SKIM 13,346 94,208 3

; CREAM POWDER 0 357 357 4
SBUTTERMILK 3.698,716 219,009 3,917,725 67
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 912,674 LBS;
SKIM, 131,972 POUNDS; PART SKIM, 80,862 POUNDS.
**EQUIVALENT TO 29 DAYS' REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMIST, STOCKS
OF DRY SKIM MILK ON JUNE I WERE EQUAL TO APPROXIMATELY 29 DAYSI
REQUIREMENTS, IN COMPARISON WITH 30 DAYS ON MAY I, 1932.
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND JUNE I,
1931 WERE THE EQUIVALENT OF A 61 DAYS' SUPPLY.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS


CLASSES OF
DRY MILK


TOTAL STOCKS (POUNDS) ON HAND FOR


PREVIOUS YEAR


SAME FIRMS REPORTING


-T-


PREVIOUS MONTH


VI___ 0_T__ M.


I,., I I o C0i


FirM t *


MAY I. 1932


t R_ i Ira M UUN I I I J N II, u. I I1' : J 2,_ JUNEr-_.,I I-. ...
WHULL MILK-- 12 ,1774,189 3,420,906 13 1,776,328 1,696,137
SKIM MILK 95 21,212-,387 38,690,612 115 21,935,396 21,469,958
PART SKIM 3 94,208 118,645 3 .94,20.8, 190,636
CREAM POWDER 3 57 '47,088 4 37 35,922
BUTTERMILK 58 3.679.635 9., 574,423 66 3,917,699 4,759,074
* FIGURES SHOWING NUMBER OF FIRMS DO NOT"REPRESENT NUMBER OF FACTORIES SINCE SOME.
FIRMS OPERATE MORE THAN ONE FACTORY.;(OV
(OVER)
JUNE 1932


2 210
2 3
3 3-
31 -4
2
4- 42
41- 5
2
5 51
5--6
6 61
2


4


f


.,IIU 1. 1932


1.,.,, 1 I Q7 1


I P PQ*I







PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS MAY


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
CLASSES OF COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS)
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* MAY '1932 MAY 1931 FIRMS* MAY 1932.1 APR. 1932
WHOLE MILK 12 1,292,285 1,586,990 13 1,298,560 585,520

SKIM MILK 95. 24,048,424 23,678,591 113 25.344,176 21 ,163,1.63

PART SKIM 3 23,179. 15,422 3 23., 179 193,370 ....

CREAM POWDER :3 0 11,085 3 0 39,500 -

BUTTERMILK 59 5,076,535 3,526,637 65 5,175,634 :4,657,295
REPORTS INDICATE THAT MAY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 0.21%; BARRELS 33.83Y; CASES 65.96-.
DRY SKIM MILK : -" 48.49; 51.469; 0.059.
DRY PART SKIM 0 52.89 ; 47.11.
DRY BUTTERMILK :- 1 96.94- 3.06.
PRODUCTION DRY SKIM MILK APRIL 1932 (ALL FIRMS WHICH REPORTED) 21,734,136 POUNDS.
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES'SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY;


EXPORTS AND

EXPORTS


EXPORTS TO
EUROPE
FRANCE
UNITED KINGDOM
NORTH .AMERICA
CANADA
MEXICO
PANAMA
SOUTH AMERICA
BRAZIL
COLOMB I A.
VENEZUELA
ASIA
CHI NA
HONG KONG
JAPAN
OCEANIA
PHILIPPINE ISLANDS


IMPORTS OF DRY MILK DURING MAY 1932


POUNDS

16,331
69,990

7,492
64,621
28,974
6,855
13,861
15,117

14,700
6 829
10,120

82,367


IMPORTS
IMPORTS FROM
EUROPE
UNITED KINGDOM

NORTH AMERICA
CANADA


POUNDS

216


55,725


UIHLK UUUNRIES .. 51,788
TOTAL MAY 1932 389,545 TOTAL MAY 1932 55,941
TOTAL MAY 1931 1,368,883 TOTAL MAY 1931 143,833
JAN. MAY (INC.) 1932 .1,779,518 JAN. MAY (INC.) 1932 276,812
JAN. MAY (INC.).1931 6,432,313 JAN. MAY (INC.) 1931 587,475
1932 1931


CASEIN IMPORTS MAY
CASEIN IMPORTS JAN. MAY (INC.)


162,489 LBS.
670,041 LBS.


470,734 LBS.
1,934,957 LBS.


DRY MILK MARKETS ABOUT STEADY CONSUMPTION INCREASING MOST QUARTERS


WITH THE TONE ABOUT STEADY IN LATE
JUNE, DRY.MILK MARKETS SENTIMENT HAS
CONTINUED TO IMPROVE IN MOST QUARTERS,
ACCORDING TO THE-U.S. BUREAU OF AGRICUL-
TURAL ECONOMIC. PRICES HOWEVER, HAVE RE-
MAINED PRACTICALLY UNCHANGED. WITH'AN
INCREASED DEMAND FROM FEED MANUFACTURERS
AND FEEDERS, AND WITH HEAVIER PURCHASERS'
FROM BAKERS, CHOCOLATE PRODUCTS MANU-
FACTURERS, AND ICE CREAM MAKERS, THE
MOVEMENT INTO CONSUMPTION.IS SAID TO HAVE
BEEN HEAVIER THAN FOR SOME MONTHS. 'ON
THE WHOLE HOWEVER, THE LOWER GRADES OF
DRY MILK, USED FOR ANIMAL FEED, STILL.
HELD THE FAVORED POSITION PARTLY BECAUSE
FEED MANUFACTURERS WERE MORE AGGRESSIVE
IN PUSHING SALES AND WERE THUS IN A POSI-
TION TO USE LARGER QUANTITIES OF DRY MILK,
THE PEAK OF PRODUCTION WAS PASSED DURING
THE FIRST PART OF JUNE. AT THIS JUNCTURE
THE MAKE WAS ESTIMATED AS SOMEWHAT HEAVIER
THAN THAT OF A YEAR AGO, ESPECIALLY IN
THOSE SECTIONS WHERE LARGE QUANTITIES OF
SURPLUS MARKET MILK WERE SKIMMED, THE
CREAM STORED, AND THE SKIM MILK CONVERTED
INTO DRY MILK. STOCKS OF MOST CLASSES
OF DRY MILK CONTINUE APPRECIABLY, LIGHTER
THAN A YEAR AGO.
TOTAL DRY MILK PiRODUC'TION DURING MAY
THE LATEST MONTH FOR WHICH DEFINITE COM-
PARATIVE FIGURES ARE AVAILABLE, WAS 5.6
PER CENT HEAVIER THAN DURING THE SAME
MONTH IN ,1931. THIS COMPARES WITH A 4
PER CENT LIGHTER PRODUCTION IN APRIL .THIS
YEAR THAN LAST YEAR, AND A-10 PER CENT
LIGHTER MAKE IN MARCH. DRY BUTTERMILK
PRODUCTION, WITH A GAIN OF 44 P.ER CENT
OVER A YEAR AGO, WAS RELATIVELY THE
HEAVIEST, DRY SKIM MILK PRODUCTION BEING
ONLY 2 PER CENT HEAVIER, WHILE THE MAKE
OF BOTH WHOLE MILK AND CREAM POWDER WAS
'-IGHTER. COMPARED WITH THE PREVIOUS
MOAtITH, THE MAY OUTPUT OF DRY MILK SHOWED
A BFASONrLM. RAll OF 19- PEP CENT,. THE MAKE.
JUNE
SC89 6ZL80 Z9Z I,

VOIaWOU- dO AIIS83AINn


OF ALL CLASSES EXCEPT PART SKIM MILK AND
CREAM POWDER, BEING HEAVIER THAN IN APRIL.
IN 1931 THE PRODUCTION INCREASE FROM APRIL
TO MAY AMOUNTED TO 14 PER CENT.
TOTAL STOCKS OF ALL CLASSES OF DRY
MILK ON JUNEIWERE A REFLECTION OF THE REL-
ATIVELY BETTER DEMAND DURING MAY FOR THESE
PRODUCTS, SUPPLIES BEING ABOUT 2 PER CENT
LIGHTER THAN A MONTH EARLIER. OF THE
MOST IMPORTANT CLASSES OF DRY MILK, BUTTER-
MILK STOCKS SHOWED THE GREATEST REDUCTION,
AS MIGHT BE EXPECTED AT THIS SEASON WHEN
THE MOVEMENT OF THIS CLASS OF GOODS IS
THE HEAVIEST OF THE YEAR. IN COMPARISON
WITH A YEAR AGO, JUNE I SUPPLIES OF DRY
MILK WERE APPROXIMATELY ONLY ONE-HALF AS
HEAVY. STOCKS OF ALL CLASSES OF DRY MILK
WERE LIGHTER, THE SUPPLY OF DRY SKIM MILK
BEING SUFFICIENT TO LAST FOR ONLY 29 DAYS
AT THE CURRENT RATE OF CONSUMPTION IN
COMPARISON WITH A SUPPLY SUFFICIENT FOR
E61 DAYS ON THE SAME DATE A YEAR AGO.
R REPORTED SALES OF DRY SKIM AND BUTTER
MILK DURING MAY NOT ONLY EXCEEDED THOSE OF
APRIL BY AN APPRECIABLE MARGIN, BUT SALES
OF THE FORMER ALSO EXCEEDED THOSE OF MAY,
1931 BY NEARLY TWO MILLION POUNDS. THE
TOTAL INCREASE IN REPORTED SALES OF DRY
SKIM MILK, WHOLE MILK, AND BUTTERMILK DUi"
ING MAY THIS YEAR OVER LAST YEAR AMOUNTEOd;
TO 5 PER CENT. PRICE CHANGES FROM THE
-PREVIOUS MONTH WERE RATHER NARROW, AND
' THE PRICE DIFFERENT. -L UNDER A YEAR AGO
CONTINUED TO SHRINK, THE AVERAGE SELLING
PRICE OF SKIM MILK DURING MAY WAS ONLY
0.03 CENT AND THAT OF BUTTERMILK 0.15
CENT UNDER THAT OF A YEAR AGO.
CASEIN MARKETS ARE EASY IN TONE,
AND THE GENERAL POSITION OF THE MARKET 16
STILL UNCERTAIN. THE DEMAND CONTINUES
DULL. WITH PRODUCTION DOWN, STOCKS ARE
SAID to BE NOT HEAVIER THAN NORMALLY AT
THIS SEASON OF THE YEAR. QUOTATIONS,F.O.
B. ATLANTIC SEABOARD, WERE LISTED AS
FOLLOWS' 20 TO 30 MEST, 5 TO 5 CENTS;
8 TO 100 MESH, 6 TO 0 CENTS W5TH SOME
*SPECIAL PACKS SELLING S HIGH AS 8 CENTS.
4RGENTINE' .ASEIN WAS OFFERED,0.I.r. NEW
YORK,.AT Ij TO 2 CENTS.








JULY 29, 1.932


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE.
DRY MILK MARKET REPORT FOR JULY 1932


WASHINGTON, D.C.


*. MANUFACTURERS' WHOLESALE SELLING PRICES DURINGJUNE
THE WHOLESALE PRICES GIVEN BELOW ARE BASED.UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS,' WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE BASIS OF CASH OR SHORT TIME CREDIT. WfDE.RANGES IN PRICES
MAY BE IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DRY SKIM MILK DRY WHOLE MILK DRY BUTTERMILK
(BULK GOODS)I -(BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS I POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
2 20 2,413,867 13- 14' 28,261 1 2.1 561,849 -
2. 3 7,315,612' 271,600 I14 134,858 2- 2,860,363 104,700
3 3- 1,946,536 1,865,359 i 1- 1 3 4 938,449 10,000
31 4 404,338 847,580 1 32,116 4 ',500 100,925
4 4- 238,428 4,309,780, 17 1I. 1,246 5 17,200
4- 4,149,833 2,004
5 5 6,130 415,748
5 6 -- 943,753
6 -.6 82,850 64,988
TOTAL 12,407,761 12,868,641 196,481 4,367.,1-61 234,829
GRAND TOTAL 25,276,402 196,481 4,601,990
AVERAGE PRICE JUNE 1932 3.56. 14.88 3.06Q
MAY 1932 3.740 185, 3.130
JUNE 1931 3.580 __t___________- 2.970
lAt si '.,--- -- -- -- -


VVWULESALE PRICES R
MILK (I LB. CANS)


REPORTED ON CASE GO
38.860 PER POUND.


ODS WERE AS FOLLOWS:


WHOLESALE SELLING PRICES F. 0. B.- DISTRIBUTING


POINTS JUNE


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUis


BAGS
3 4.5
2.96 4.5
3 4.5
2.75 6
2.75 4.5
2.5 4


DRY SKIM MILK
(CENTS PER LB.)
BBLS.
4 6 KANSAS CITY
3 6.25 SEATTLE
4.5 -6 PORTLAND
3 -. 7 Los ANGELES.
3.043 6 SAN FRANCISCO
4.5 -5.5


BAGS

2.31 4
4
2.3
3


BBLS.
5 5.5
4 4.5
4.5
4.5 4.75
4.5 4.75


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKSS IN POSSESSION OF MANUFACTURERS
REPORTING', WHETHER MANUFACTURED BY-THEM OR PURCHASED FROM OTHERS, WHETHER.ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.

TOTAL.STOCKS ON HAND
CLASSES OF JULY I 1932
DRY MILK IN BAGS IN BARRELS PO S(A) MS
(POUNDS (POUNDS) TOTAL POUNDS(A) FIRMS*
WHOLE MILK 1,142 2,247,802 3,608,802 11
SKIM MILK 7,961,190 14,639,084 22,601,352** 119
PART SKIM 0 15,906 15,906 2
CREAM POWDER 0 191 1191 3
BUTTERMILK 3,123,185 203,159 3,326,344 61
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,359,858
POUNDS; SKIM, 1,078 POUNDS;
**EQUIVALENT TO 30 DAYS' REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE'PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON JULY I WERE 'EQUAL TO APPROXIMATELY 30
DAYS' REQUIREMENTS, IN COMPARISON WITH 29 DAYS ON JUNE I.,
1932. CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON
HAND JULY I, 1931 WERE THE EQUIVALENT OF A 60 DAYS SUPPLY.

COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (POUNDS) ON HAND'FOR SAME FIRMS REPORTING
CLASSES OF PREVIOUS YEAR 'PREVIOUS MONTH
DRY MILK
F__IRMS* JULY 1, 1932 JULY I, 1931. FIRMS* JULY I, 1932 JUNE I, 1932
WHOLE MILK 9 3,601,098 4,197,367 II .3,608,802 1,528,771
SKIM MILK 94 21,569,003 36,966,790 113 22,449,002 21,463,565
PART'SKIM 2 15,906 38,480. 2 15,906 13,346
CREAM POWDER 2 57 45,322' 3 191 357
BUTTERMILK 50 3,220,239 8,911,722 59 3,309,444 3,834,767
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.


(OVER)


JUNE..1932


UNIV. OF FL LII.
DCU..ENT O DEPT



-U.S. DEPOTORY


DRY WHOLE







PRODUCTION O DRY MILK REPORTED BY MANUFACTURERS JUNE


INCLUDES REPORTS FROM PRINCIPAL FIRMS.OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* JUNE 1932 JUNE .1931 FIRMS* JUNE 1932 MAY 1932
WHOLE MILK 8 1,616,550 .1,668,212 10 1,627,665 1,231,225
SKIM MILK 93 23,981,995 21,903,200 Ill 25,984,483 25,.1 53,250
PART SKIM 2 28,518 9,515 2 '28,515 12,259
CREAM POWDER 2 0 12,440 2 .0 0
BUT-TERMILK 50 3,782,349 3,993,588 58 3,897,618 5,196,660
REPORTS INDICATE THAT JUNE PRODUCTION WAS PACKED AS FOLLOWSt
DRY WHOLE MILK: BAGS OOl.O-; BARRELS 22.21 ; CASES 7:7.78. .
DRY SKIM MILK: 48.899; 51.11.
*DRY PART SKIM: 0 100.00, .
DRY BUTTERMILK: "94.37%; 5.63.
PRODUCTION DRY SKIM MILK MAY 1932 (ALL FIRMS WHICH REPORTED) 25,730,054 POUNDS.
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY MILK DURING JUNE 1932
EXPORTS IMPORTS
EXPORTS TO POUNDS' IMPORTS FROM POUNDS
EUROPE EUROPE
ITALY 10,290 UNITED KINGDOM 352
FRANCE 1,025
UNITED KINGDOM 7,335
NORTH AMERICA NORTH AMERICA
MEXICO 39,838 CANADA 48,897
.NETHERLAND WEST INDICES 7,346
PANAMA 19,671
SOUTH AMERICA
8RAZIL 6,580
COLOMBIA 15,243
ASIA
BR MALAYA 7,128
CHINA 13,048
HONG KONG 6,994
OCEANIA
PHILIPPINE ISLANDS 27,863
OTHER COUNTRIES 48,706
TOTAL JUNE 1932 221,067 TOTAL -JUNE 1932 49,249
TOTAL JUNE 1931 1,084,852 TOTAL JUNE 1931 59,369
JAN. JUNE (INC.) 1932 2,000,585 JAN. JUNE (INC.) 1932 326,061
JAN. JUNE (INC. 1931 7,517.,165 JAN. JUNE (INC.) 1931 646,844


CASEIN IMPORTS JUNE
CASEIN IMPORTS JAN. JUNE (INC.)


DRY MILK MARKETS CONTINUE


29,554 LBS.
699,595 LBS.

'STEADY DEMAND FAIR


39I,169 LBS.
2,299,126 LBS.


DRY MILK MARKETS CONTINUED STEADY
DURING JULY, ACCORDING TO THE U.S. BUREAU
OF AGRICULTURAL ECONOMICS. PRICES RE-
MAINED GENERALLY UNCHANGED. AS IS USUAL
'AT THIS SEASON OF THE YEAR, THE LOWER
GRADES OF DRY MILK, USED FOR FEEDING-
PURPOSES, CONTINUED TO RECEIVE THE BULK
OF ATTENTION ALTHOUGH THE MOVEMENT INTO
COMMERCIAL FEED CHANNELS WAS SAID TO HAVE
BEEN JUST FAIR,:WHILE LARGER QUANTITIES
WERE USED BY THOSE WHO'MIX THEIR OWN
SUPPLY .OF FEEDS DIRECTLY ON THE FARM.
THE DEr?)ND FOR THE BETTER GRADES ALSO
APPEARED FULLY MAINTAINED. AS A RESULT
OF THE COMPARATIVELY WELL MAINTAINED"
PRODUCTION TREND,ANDZ DESPITE THE
RELATIVELY ACTIVE MOVEMENT OF DRY MILK
INTO CONSUMPTION, STOCKS HAVE CONTINUED
TO INCREASE. THESE ARE SAID, HOWEVER, TO
BE STILL APPRECIABLY LIGHTER THAN A YEAR
AGO.


'SKiM AND WHOLE MILK, HO.WEVER,.SHOWING A
SUBSTANTIAL GAIN, WHILE DRY BUTTERMILK
PRODUCTION DROPPED OFF VERY SHARPLY. FOR
THE PERIOD JANUARY -fOJU.NE, 1932,
INCLUSIVE, DRY SKIM MILK PRODUCTION-WAS
1.6 PER CENT LIGHTER THAN DURING THE SAME
PERIOD IN 1931, WHILE THE MAKE OF BUTTER-
MILK WAS 0.8 PER CENT HEAVIER.
JULY I STOCKS OF DRY MILK INDICATE
THAT CONSUMPTION HAS NOT KEPT PACE WITH
PRODUCTION, TOTAL STOCKS OF ALL CLASSES
OF DRY MILK HAVING INCREASED 9.5 PER CENT
DURING JUNE. DRY BUTTERMILK AND POWDERED
CREAM STOCKS WERE THE-ONLY CLASSES SHOWING
A DECREASE DURING THE MONTH. STILL BEING,
HOWEVER, 44.5 PER CENT LIGHTER THAN ON.THE
SAME.DATE A YEAR AGO, JULY I STOCKS OF ALL
CLASSES OF DRY MILK WERE APPRECIABLY
LIGHTER.THAN IN 1931.
REPORTED SALES OF ALL CLASSES OF
DRY MILK WERE SOMEWHAT LIGHTER DURING JUNE
THAN IN MAY. BUT SALES OF SKIM AND BUTTER-


TOTAL DRY MILK PRODUCTION DURING MILK CONTINUED APPRECIABLY HEAVIER THAN A
JUNE, THE LATEST MONTH FOR V-IICH DEFINITE YEAR AGO. AVERAGE PRICES DURING JUNE WERE
COMPARATIVE FIGURES ARE: AVAILABLE, WAS FRACTIONALLY LOWER THAN IN MAY, BUT THE
6.6 PER CENT HEAVIER THAN DURING THE GENERAL DECLINE .IN PRICES WAS NOT AS
SAME MONTH IN 1931. THE PERCENTAGE OF MARKED AS IN JUNE, 1931. THE AVERAGE JUNE
EXCESS PRODUTI.N OVER A YEAR A.O; WAS, "SELLING PRIQE OF DRY BUTTERMILK, IN FACT,
EXCESS PRODUqTtN OVER A YEAR AO WAS,. *WAS SLIGHTLY HIGHER THAN IN JUNE, 131'.
THEREFORE, *1 MORE THAN DURING MAY. THEE,
RELATIVE PRODUCTION OF THE SEVERAL CASEIN MARKETS.SHOWED PRACTICALLY
CLASSES OF DRY MILK DIFFERED HOWEVER. IN NO CHANGE FROM THE PREVIOUS MONTH WITH
MAY, FOR INSTANCE, DRY BUTTERMILK PRb-. THE MARKET SITUATION STILL GENERALLY U.N-
DUCTION WAS:44 PER CENT HEAVIER THAN'- SATISFACTORY. -IDEMAN'D CONTINUED CONSIDER-
DURING THE SAME MONTH A YEAR AGO, WHILE ABLY--BELOW NORMAL WITH BUYERS STILL
IN JUNE THE MAKE WAS ACTUALLY 5 PERCENT 0P6RAT1 NG ON A HAND, TO MOUTH B.AsSS
LIGHTER, DRY SKIM MILK PRODUCTION,- ON DESPITEE THE FACT. TkAT'.DEALERS CONTINUED
THE OTHER HAND,. WAS.ONLY 2 PER CENT TO. P.USH SALES. SUPPLiES ARE SAID TO
HEAVIER 14N MAY THIS YEAR THAN LAST YEAR, BE FULLY AMPLE NOTWI.lTHSTANDING THE
BUT WAS 9 PER CENT HEAVIER I 'lJlJUNE. THE CONTINUED LIGHTER PRODUCTION THAN 4
RELA-TIVELY HEAVIER PRODUCTION OF. DRY YEAR AGO. QUOTATIONS, F.O..B. ATLANTIC
SKIM MILK APPARENTLY IS-.A REFLECTION OF SEABOARD, WERE LISTED AS FOLLOWS: 20 TO
THE CONTINUED Si.MMING OF SURPLUS 30 MESH, 4- TO 51 CENTS WITH SOME OFFER-
QUANTITIES OF FLUID. MILK., THE RESULT N: INGS AS LOA" AS 4-COENTS; 80 TO 100 MESH,
CREAM BEING MOVED INTO STORAGE'AND THE 51 TO 6- CENTS. ARGENTINE CASEIN WAS
SKIM MILK BEING CONVERTED -INTO POWDER'.. OFFERED, .'F. NEW YORK, AT TO
COMPARED WITH THE PREVIOUS MONTHS, THE 2 CENTS BU'T NO BUSINESS WAS
JUNE OUTPUT OF DRY MILK WAS ABOUT THE REPORTED.
SAME AS THAT FOR MAY, THE MAKE OF DRY' :
JULY 1932 .
9899 6L980 Z9I. C

V1111 IIN I I I Sll I IIN
VOIO18 E 00 AIIS 3AINn


PAGE 2


E

E








AUJusT 2-, 1932


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY MILK MARKET REPORT OR AUGUST 1932


WASHINGTON, D.C.


MANUFACTURERS'.WHOLESALE SELLING PRICES DURING JULY
THE WHOLESALE PRICES GIVEN BELOW. ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND-SIMILAR BUYERS FOR'GOODS
F.O.B. FACTORY ON THE BASIS OF .CASH O' SHORT TIME CREDIT. WIDi 'ANGES IN PRICES
MAY BE IN P ART ATTRIB UTE 'TO'DIjF'RENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DRY- SKIM MILK. ; : DRY'WHOLE MILK DRY BUTTERMILK
(BULK'GOODS) (BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS. IN BBLS.
2 2-0 432,100 12 '13 29,880 11 21 90,945.
2 -3 2,971,773 750 13 14 28,000 2 1,612,367 100,475
3 3- 4,315,343 1,240,683 I4 I1 130,478 4 1,883,788 10,000
3 4 7,807 2,770,123 I I 6,072 4 5 4,000 125,286
4 4 313,202 4,872,067 17 37,339 19,700
4 5 +4,930 4,041,927 6- 7 8,600
5 5 200,354
5- 6 696,712
6 62,150 5,080
S- 7 1,649
TOTAL 8,107,305 13,829,345 251,769 3,591,100 264,061
GRAND TOTAL 21,936,650, 251.769 3,855,161
AVERAGE PRICE JULY 1932 3.620 15.050 3.250
"I 'JUNE 1932 '3.560 14.880 3.060
JULY 1931 3.640 16.610 3.1'70


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS
MILK (I LB. CANS) 38.150 PER POUND.


WERE AS FOLLOWS:


WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS.- JULY
DRY SKIM MILK
(CENTS PER'LB.)


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
3.25 4.5
2.75 4.5
3.25 4.5
2.75 6
2.75 4.5
2.5 3.5


BBLS.
4 6
3 6.25
4.25.- 6
3.8 6
4 6
4 -5.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS'
3
2.5 -
4
2.1 -


BBLS.
4.5 5.5
3.85 4.5
4 4.5
4 4.75
4 4.75


MANUFACTURERS' STOCKS OF DRY MILK
TOTA'L-STOCKS ON HAND I.CLU,OES ALL STOCKS IN POSSESSION. OF. MANUFACTURERS
REPORTING, WHETHER'MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, .WiHETHER..ON. THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.


TOTAL STOCKS ON HAND
CLASSES OF .AUGUST I, 1932
DRY MILK IN BAGS IN BARRELS TOTAL POUNDS(A) FIRMS*
(POUNDS) (POUNDS
c WHOLE MILK .. 24,198 2,643,148 4,449,238 16
L SKIM MILK 8,635,687 14,548,608 23,293,866** 116
SPART SKIM 0 7,578 76,427 3
O CREAM POWDER 0 70 70 3

i BUTTERMILK 2,642,737. 188,e8: 8 2,831,035 60


S (A) INCLUDES CASE GOODS AS FOLLOWS:'- WHOLE MIL' 1,781,892
POUNDS; SKIM, 109,571 POUNDS; PART SKIM, 68,849 POUNDS.
**EQUIVALENT TO 31 DAYS' REQUIREMENTS: -.ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR TRE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON AUGUST I WERE EQUAL TO APPROXIMATELY 31
DAYS' REQUIREMENTS, IN COMPARISON WITH 30 DAYS ON JULY I,
1932..:: CALCULATED ON THE SAME BASIS A YEAR AGO STOCKS ON
.HAND.AUGUST I, 1931 WERE THE EQUIVALENT OF A 56 DAYS' SUPPLY.


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
CLASSES OF TOTAL STOCKS (POUNDS)'ON HAND FOR SAME FIRMS REPORTING
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* AUG. 1,1932 AUG. 1.1931 FIRMS*1 AUG. 1,1932 JULY 11932


WHOLE MILK


SKIM MILK


PART SKIM


CREAM POWDER


BUTTERMILK


4.439.985


22 49A.9R6


76.427


4.479.299


32.551 21I


96.037


16


t 4 __ _ _ -. _____7


43.476


-~~~ '- ---- - -~~. _______________ r


2.703.035 '


7.868.736


3


58


S -'- I .
* FIGURES SHOWING NUMBER:OF-'FIRMS DO NOT REPRESENT.N.UMBER.
FIRMS OPERATE MORE TH-AN ONE'FACTORY.
:.. : (OVER)
AU'YST 1932


23.279,661


70


3,864,610
22,837,185
95,338
191


2,801,583 3,320,994
OF'FACTORIES SINCE SOME


i !
* '

.J.
| i
0
2t


-rlfl, 9 .u JC 01)1, C- d I 1
I - ,


,4.49,238


L-I-~--l






PAGE 2

PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS JULY

INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
CLASSES OF COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
DRY MILK .PREVIOUS YEAR PREVIOUS MONTH
FIRMS* ...JULY 1932 JULY 1931 FIRM'S* JULY 1932 JUNE 1932
WHOLE MILK II .. 1,008,175. 767,4.13 15 1040,038 1,728,056
SKIM MliK 89 20,097,078_ 1,577,:46 113 21,624,818 26,332,082
PART SKIM 3 17,589. 4,554 .3 17,589 33,211
CREAM POWDER- 2 0.- .13,039 2 .0 0
BUTTERMILK 49 3,306,081 2,699,013 57 3,407,919 3,860,645
REPORTS INDICATE THAT JULY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK:- BAGS 2.35 ; BARRELS 33.17h; CASES 64.48%.
DRY SK IM M.I LK: 45.21,; 54.79%.
DRY PART SKIM: 0 100.00.
DRY BUTTERMILK: 92.55% 7.45%.
PRODUCTION DRY SKIM MILK JUNE 1932 (ALL FIRMS WHICH REPORTED) 26,496,373 POUNDS.
FIGURES SHOWING.:'NUMBER OF..FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE. THAN'- ONE FAC-TORY.

EXPORTS AND IMPORTS OF DRY MILK DURING JULY 1932


EXPORTS TO
EUROPE
SPAI N
UNITED KINGDoM .
NORTH AMERICA--
HONDURAS
MEXICO
PANAMA
SOUTH AMERICA
BRAZIL
COLOMBIA
PERU
VENEZUELA
ASIA
UHINA
HONG KONG
OCEANIA
PH T1LPPI NE I ISLANDS


EXPORTS


! POUNDs

13,140
50,650
6,153
48 895
"-37 366

9, 931
14,097
4,638;
13,039
32 875
S.7,567.
93 77A


-. IMPORTS
IMPORTS FROM
SEUROPE
NETHERLANDS'
UNITED KINGDOM
NORTH AMERICA
CANADA .


OCEANIA
.-^liW 7 1I A MAN


POUNDS

79
378

27,525


.OTHER COUNTRIES 47,846 ..
TOTAL JULY 1932 309,771 TOTAL JULY 1932 28,139
TOTAL JULY 1931 964,433 TOTAL JULY .1931 102,068'
JAN. JULY (INC.) 1932 2,3310,356 JAN. JULY (INC.) 1932 354,200
JAN. JULY (INC.) 1931. 8,481,598 JAN. JULY (INC.) 1931 748',912


SCASEIN IMPORTS.JULY
CASEIN IMPORTS JAN. --JULY (INC.)

DRY MILK MARKETS STEADY TO


DRY MILK MARKETS-HAVE CONTINUED TO
WORK INTO A STRONGER POSITION, ACCORDING
TO THE U.S. BUREAU OF AGRICULTURAL
ECONOMICS. THE STEADY TO FIRM TONE WHICH
PREVAILS AT THIS WRITING (AUGUST 25) I.S A
REFLECTION, NOT ONLY OF THE GENERALLY .
IMPROVED DAIRY PRODUCTS PRICE SITUATION
-OVE.R A MONTH AGO, BUT ALSO OF'THE "
CONTINUED STRONG STATISTICAL POSITION OF
DRY MILK. PRODUCTION DURING AUGUST IS
SAID TO HAVE DROPPED OFF RATHER SHARPLY
DUE,,,PRINCIPALLY, TO THE SEVERE DROUGHT
IN WISCONSIN AND OTHER IMPORTANT MID-WEST
PRODUCING STATES, AND-TO THE REDUCED
QUANTITIES-OF SURPLUS MILK AVAILABLE IN
THE EASTERN FLUID MILK AREAS. DUE TO THE
FACT', HOWEVER, THAT THE MAKE WAS ALSO
SHARPLY REDUCEDAT THIS-TIME LAST YEAR,
THE CURRENT VOLUME OF DRY MILK PRODUCTION
IS ESTIMATED AS STILL FULLY EQUAL TO THAT
OF A YEAR AGO. .AS IS USUAL AT THIS SEA-
SON OF THE YEAR, 'THE DEMAND FOR THE LOWER
GRADES OF DRY MILK, WHICH.ARE USED FOR
ANIMAL FEED, WAS REDUCED, BUT SALES OF
THE BETTER GRADERS, USED FOR HUMAN FOOD,
WERE WELL MAINTAINED.' :STOCKS CONTINUE
APPRECIABLY LIGHTER THAN:.A,YEAR AGO
TOTAL DRY MILK PRODUCTION DURING
JULY, THE LATEST MONTH FOR WHICH DEFINITE
COMPARATIVE'FIGURES ARE AVAILABLE, WAS
10.7 PER CENT HEAVIER THAN DURING THE-
SAME MONTH IN [r31. THE PERCENTAGE OF .
EXCESS PRODUCTION OVER A YEAR.AGO -WAS-,'-
THEREFORE, FURTHER INCREASEb'FROM 5.6 PER
CENT IN MAY, TO 6.6 PER CENT IN JUNE AND,
FINALLY, TO 10.7 PER CENT IN JULY. -OF
THE SEVERAL CLASSES OF DRY MILK, SKIM MILK
PRODUCTION DURING JULY WAS 8.2 PER-CENT
HEAVIER THAN A YEAR AGO, BUTTERMILK PRO-
DUCTION 22.5 PER CENT HEAVIER, WHO,LE.'MILK.
PRODUCTION 31.4 PER CENT HEAVIER, WHILE-'
NO CREAM POWDER WAS PRODUCED-IN COMPARI--
SON.-ITH 13,000 POUNDS IN JULY, 1931. "
COMPARED WITH THE PREVIOUS MONTH, THE JULY
OUTPUT OF DRY MILK WAS DECREASED 18.4 PER
CENT WITH ALL CLASSES SHOWING A.SEASONAL
PRODUCTION DECLINE." .


1932 1931
64,496 LBS. 191,668 LBs.
764,091 LBS. 2,490,794 Les.

FIRM -'STOCKS STILL LIGHT
AUGUST I STOCKS OF DRY MILK INDI-
CATE THAT CONSUMPTION OF THOSE CLASSES
WHICH ARE GENERALLY USED FOR HUMAN FOOD
HAS'NOT KEPT PACE .ITH PRODUCTION, WHILE
THE TRADE DI APF-ARANCE OF THE LOWER
GRADES WAS I N EXCESS OF THE MAKE. TOTAL
DRY MILK. STOCKS V'RE INCREASED BY 1.6 PER
CENT DURING '.-Y, BUT AUUS-' I STOCKS
WERE STILL 3~,0 PP CENT LIGHTER THAN ON
THE SAME DATE A Y'AR AGO. SU,-PLIES OF
DRY BUTTERMILK ON THAT DATE WERE ONLY
SLIGHTLY BETTER THAN ONE-THIRD AS HEAVY
AS A YEAR EARLIER, WHILE STOCKS OF DRY
SKIM MILK WERE ONLY SUFFICIENT TO LAST
FOR 31 DAYS IN COMPARISON WITH A 50 DAYS
SUPPLY ON AUGUST I, 1931
*. REPbRTED SALES OF DRY SKIM MILK
AND BUTTERMILK DURING JULY- WEIE ..APPRECI- .,
ABLY LIGHTER THAN IN EITHER JUNE OF THE
CURRENT YEAR OR JULY OF LAST YEAR, BUT
SALES OF DRY WHOLE MILK, WHILE APPROXI-
MATELY ONLY HALF AS HEAVY AG A YEAR AGO,
WERE HEAVIER THAN IN JUNE. AVERAGE SELL-
ING PRICES DURING JULY WERE ADVANCED
FRACTIONALLY ON ALL -GRADES, BUT THE PRICE
DIFFERENTIAL, I.N COMPARISON WITH A YEAR
AGO, REMAINED PRACTICALLY UNCHANGED ON
SKIM MILK AND BUTTERMILK, BUT WAS '
NARROWED BY APPROXIMATELY I CENT ON DRY
WHOLE MILK.
CASEIN MARKETS DURING AUGUST ALSO
SHOWED A FIRMER TONE. THE IMPROVEMENT IN
OTHER.DAIRY PRODUCTS PRICES, THE ADVANCE'
IN HOG PRI'CES-WHICH APPARENTLY RESULTED
IN MORE SKIM MILK eEING- FED, THE'CONTINU-
ED EFFORTS OF MANUFACTURERS TO LIMIT PRO-
DUCTION, AND THE SOMEWHAT IMPROVED DEMAND
ALL WERE CONTRIBUTING FACTORS TO THE
STRONGER.PO.SITION OF THE MARKET AND THE
FRACTIONAL ADVANCE IN PRICES. ON i"HE
ATLANTIC SEABOARD, 20. TO-30 MESH CASEIN
WAS QUOTED AT 5 TO 6 CENTS,.AND 80 -TO..
100 MESH GOODS AT 61 TO 8 CENTS .


AUGUST 1932


P'699 6ZL90 Z91v

VOCIOI1 0o A LIS83AINn


I


'. J









SEPTEMBER'27, 1932
' ::


UNITED STATES -DEPARTMENT'OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY MILK MARKET REPORT FOR SEPTEMBER 1932


MANUFACTURERS' WHOLESALE SELLING PRICES DURING AUGUST
THOSE WHOLESALE PRICES GIVEN BELOW ARE UASED UPON'REPORTS FROM MANUFACTURERS
.COVERING ACTUAL SALES'TO'JOBBERSj 'WHOLEStLE GROCERS 'AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON'THE BASIS.O'.CASIA OR SHORT TIME CREDIT. WIDE RANGES'IN PRICES
MAY BE IN PART ATTRIBUTED TO REFERENCES INEQUALITY OR GRADE'OF PRODUCT SOLD.':'."'
DRY. SKIM MILK DRY WHOLE MILK ORY BUTTERMILK
(.BULk'R.GOO:) D .- (BULK GOODS) (BULK GOOCS)
REPORTED' SALE- REPORTED SALES REPORTED SALES -
SPOUNDS POUNDS
PRICE IN BAGS IN;BBLS.. PRICE POUNDS PRICE IN BAGS IN.BBES..
1. 2 25,446 I .- II1 3,700 Ii 2- 90,344
2 2 .197,200 11 121 2 137,350 771.,59..
21 3 2,348,858.. 1,200 12 13 46,000 3 4 10,000 899,774
3 3. 5,472,096: 938,.7Q0 13- 14 18,800 4 5 99,256 -
3 4 '234,484 2,232,514 141- 15 188,524 6. .1.7,500. -
4 -7 41* 133,161 5,657,045 I5 I 34,A594 7 -
4 5 5,220 3,3.5'r,942 161 17 145,7719 8 1,950 -
5 5 .242,828 17 I8- *.
5 6. 723,010 18 19. 186
6 6- 44;050 -
TOTAL 8,460,535 -13,147,239 437,583 266,056 1,761,709
GRAND TOTAL 21,607,774 437,583 '2,027,765
AVERAGE PRICE AUG..1932. 3,784 15.330 3.400
" ." JULYI'932 3.620 15.05 3.250
AUG.1931 3.73(I "17.24 __3. 10


-WHOLESALE PRICES REPORTED
DRY WHOLE MILK (I LB. CANS) -. 37.630
WHOLESALE SELLING PRICES F.


0 N QASE GOODS WERE
PER POUND.


AS FOLLOWS:


0. B. DISTRIBUTI-NG POINTS AUGUST


BAGS


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


3.5
2.75
3.5
3
.3. 5
2.5


4.5
4.5
4.5
4.5
3.5


DRY SKIM MILK
(CENTS PEP LB.)
BBLS.


4.5 -
3.75--
4.50 -
4- *
3.75 -
4


-6--
6.25
6
5.5
6
5.5


-KANSAS CJ TY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

2.8 4
4
2.5


BBLS.
5.5
4 4.5
4.5
4 4.75
3.1 4.75


MANUFACTURERS' STOCKS OF DRY MILK

.TOTAL STOCKS ON HAND. I NCLJDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTUREDBY. THEM OR PURCHASED FROM OTHERS, WHETHER ON'THE IR
OWN PREMISES .IN.STORAGE-OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WH.ETH.ER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.


L -J-- (A) INCLUDES CASE GOODS AS FOLLOWS:'- WHOLE MILK 1,691,789
POUNDS; SKIM, 98 405 POUNDS- PART SKIM, 60,G04 POUUDS-.
**EQUIVALENT TO 27 DAYSt REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS.CALCULATED
FROM REPORTS OF THE BUREAU. OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON SEPTEMBER I WERE EQUAL TO APPROXIMATELY
27 DAYS' REQUIREMENTS, IN COMPARISON WITH 31 DAYS ON AUGUSTI,
1932. CALCULATED ON THE SAME BASIS A YEAR AGO, STOCK'S ON
HAND SEPTEMBER I, 1931 WERE THE, EQUIVALENT OF A 47 DAYS' SUPPLY.
COMPARISON OF. TOTAL. STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
CLASSES OF
DCY SSS LK PREVIOUS YEAR PREVIOUS MONTH
__ FIRMS* SEPT.I,1932 SEPT. 1,1931 FIRMS* SEPT'.1.1932 AUG. 1 ,1932
WHOLE MILK 12 4,246,007 3,951,308 15 4'275.191 4,449,238
SKIM' MILK. 93 19,722,747 31,361,334 110 20,292,909 23,018',368
PART SKIM 3 99,846 83,842 3 99 *846 76,42.7
CREAM POWDER 2- 8,710 43,436 3 9-316 70
BUT.TERMILK 51 2,806:872 6,974,609 .57 2,_850,.355 1 2,797,283


OF FACTORIES SINCE SOME


.-iC~' "'-

WASHINGTON, D.C.


TOTAL STOCKS ON HAND
CLASSES OF __SEPTEMBER I, 1932
DRY MILK IN BAG. N BARRED TOTAL POUNDS(A) FIRMS
(POUNDS) ONDSA FIRMNDS
WHOLE MILK 8,257.2 2,576,545 4,276,591 16
SKIM MILK 7,825,085 12,393,563 20,317,053** 114
PART SKIM 0 39,182 99,846 3
CREAM'FOWDER I 0 9,316.' 9316 3
BUTTERMILK 2.690.970 162,907 2,853,877 62


* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER
FIRMS OPERATE MORE THAN ONE FACTORY.--


-







PAGE 2


INIITE STAT


PRODUCTION OF DRY MILK REPORTED. BY MANUFACTUR-ERS AUGUST
INC UDE-RPORS- F OM PRI OI AL-IRM-O ERA IN.DR.MI.'.'...L ;A E .CTORIES.IN TH
INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
re. ; **.-.


COMPARISON OF.PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF __PREVIOUS YEAR PREVIOUS -MONTH
DRY M I LKJ 1 '
SFIRMS*. AUG. 1932 AUG. 1931. FIRMS* A. 932 JULY 1932

WHOLE MILk L 10 505,494: 381,580 14 580,667 1 ,040,088

:SKIM MILK 92 17,919,816 17,763,029 108 18,902,046 21,043,263

PART SKIM 2 58,182 8,239 : 2 58,182 17,589

CREAM POWDER 2 13,365 : 29,735 3 14,004 0

BUTTERMILK 50 3,428,212 2,287,662 55 3,458,650 3,410,772
REPbRTS INDICATE THAT AUGUST PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK; BAGS 5.89;; BARRELS 79,03d; CASES 15.08%.
DRY SKIM MILK: 45.49%; 54.510.
DRY PART SKIM: 0 1"00.00.
DRY BUTTERMILK: 92.92%; 7.08.
PRODUCTION DRY SKIM MILK JULY 1932 (ALL FIRMS WHICH REPORTED) 21,902,944 POUNDS.
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY-MILK DURING AUGUST 1932


EXPORTS


EXPORTS TO
EUHUPE
UNITED KINGDOM
NORTH AMERICA
CANADA
MEXICO
PANAMA
SOUTH AMERICA
ARGENTINA
COLOMBI A
HONDURAS
PERU
VENEZUELA
ASIA
T INA
OCEANIA
P-HILIPPINE ISLANDS


POUNDS

24,600

57,588
54,380
25,981

25,652
.14,433
5,290
"4,679
17,087,

10,155

30 ,50 5


IMPORTS FROM

NORTH AMERICA
CANADA


IMPORTS


POUNDS


26,385


OTHER COUNTRIES 45,351
TOTAL AUGUST 1932 315,701 TOTAL AUGUST 1932 26,385
TOTAL -AUGUST 1931 1,046,755 TOTAL AUGUST 1931 51,545
JAN. AUG. (INC.) 1932 2,626,057 JAN. AUG. (INC.) 1332 380,585
JAN. AUG. INC.) 1931 9,528,353 JAN. AUG. INC.) 1931 800,457


CASEIN
CASEIN


IMPORTS AUGUST
IMPORTS JAN. AUG.

DRY MILK MARKETS


1932
2,609 LBS.
766,700 Las.


(INC.)


1931
112,311 LBs.
2,603,105 LBs.


CONTINUE'STEADY TO FIRM STOCKS DECREASING


DRY MILK MARKETS CONTINUED STEADY
TO FIRM DURING SEPTEMBER, ACCORDING TO THE
U.S. BUR'Et OF AGRICULTURAL ECONOMICS.
WHILE E THERE WAS SOME TALK OF HIGHER
-RICES, VALUES REMAINED GENERALLY UN-
,HANGED IN MOST QUARTERS. ON THE WHOLE,
THE MARKET SITUATION WAS IN THE SELLERS'
-'AVOR, BUT THE GENERAL DISPOSITION WAS TO
;EEP PRICES AT A POINT SUFFICIENTLY LOW
ENOUGH TO PREVENT ANY ACCUMULATION OF
STOCKS. THE LOWER GRADES OF SKIM MILK
AND.BUTTERMILK, WHICH ARE USED FOR ANIMAL
FEED; RETAINED THE BEST POSITION. STOCKS
O:' THIS CLASS OF GOODS WERE CLOSELY CLEAR-
ED AND, IN SOME.QUARTERS, FRACTIONAL
ADVANCES IN-PRICE WERE REPORTED. THE
STATISTICAL POSITION OF THE BETTER GRADES
OF DRY MILK WAS NOT SO ENCOURAGING.
CANDY AND CHOCOLATE MANUFACTURERS TOOK
LESS THAN THEIR USUAL REQUIREMENTS, AND
THE DEMAND FROM OTHER USERS CONTINUED
JUST FAIR.

TOTAL DRY MILK PRODUCTION DURING
AUGUST, THE LATEST MONTH FOR WHICH
DEFINITE COMPARATIVE FIGURES ARE AVAIL-
ABLE, WAS 7.1 PER CENT HEAVIER THAN DUR-
ING THE SAME MONTH IN 1931. IN JULY,
HOWEVER, THE MAKE WAS 10.7 PER CENT
HEAVIER THAN A YEAR AGO. OF THE SEVERAL
CLASSES OF DRY MILK, SKIM MILK PRODUCTION
WAS 1.0 PER CENT HEAVIER IN AUGUST THIS
YEAR THAN LAST YEAR, WHOLE MILK PRO-
DUCTION 32.2 PER CENT HEAVIER, AND
BUTTERMILK PRODUCTION 49.9 PER CENT
HEAVIER; WHILE .IN JULY THE MAKE WAS 8.2
P-ER CENT, 22.5 PER CENT, AND 31.4 PER
CENT, RESPECTIVELY, HEAVIER THAN.A YEAR
AGO. CREAM POWDER PRODUCTION DURING
AUGUST WAS LESS THAN HALF AS GREAT AS A
YEAR AGO. COMPARED WITH THE PREVIOUS
MONTH, THE AUGUST OUTPUT OFD RY MILK WA3
DECREASED 9.8 PER CENT, WITH 'THE MAKE OF
WHOLE MILK SHOWING A SHARP DECLINE, .SKIM
MILK A MODERATE DECLINE, WHILE THE PRO-


DUCTION OF BUTTERMILK AND CREAM POWDER
ACTUALLY SHOWED A SLIGHT INCREASE.

SEPTEMBER I TOTAL STOCKS OF DRY
MILK WERE 36.6 PER CENT LIGHTER THAN ON
THE SAME DATE IN 1931 AND SHOWED A
DECREASE, UNDER AUGUST I, OF 9.3 PER
CENT.- THESE SUPPLIES WERE ONLY SUFFICIENT
TO LAST THE COUNTRY FOR 27 DAYS AT THE
CURRENT RATE OF CONSUMPTION, IN COMPARISON
WITH 31 DAYS ON AUGUST I AND 47 DAYS A
YEAR AGO. BUTTERMILK STOCKS, ON THE
OTHER HAND., SHOWED SOME ACCUMULATIONS DUR-
ING AUGUST, BUT ON SEPTEMBER I WERE STILL
LESS THAN HALF AS HEAVY AS ON THE SAME
DATE A YEAR- AGO.-

REPORTED SALES OF DRY WHOLE MILK
AND BUTTERMILK WERE ABOUT 37 PER CENT
LIGHTER DURING AUGUST THIS YEAR THAN LAST
YEAR, WHILE SKIM MILK SALES WERE ABOUT 30
PER CENT HEAVIER. AVERAGE SELLING PRICES,
AS COMPUTED FROM REPORTED SALES, SHOWED A
FRACTIONAL GAIN ON ALL PRODUCTS AND, WITH
THE EXCEPTION OF WHOLE MILK, THESE PRICE
ADVANCES WERE HEAVIER THAN A YEAR AGO.
DRY SKIM MILK IN AUGUST SOLD AT 0.05 CENT
PER POUND, AND BUTTERMILK AT 0.30 CENT
PER P.UND MORE THAN IN AUGUST, 1931, WHILE
WHOLE MILK RETURNED, ON THE AVERAGE, 1.91
CENTS PER POUND LESS.

CASEIN MARKETS CONTINUED FIRM. PRO-
DUCTION CONTINUED COMPARATIVELY LIGHT,
AND IMPORTS WERE SMALL. THESE FACTORS,
DESPITE THE BUT MODERATE CONSUMPTION,
MADE FOR A WELL MA-INTAINED PRICE TREND.
SEPTEMBER QUOTATIONS, F. 0.. B.
ATLANTIC SEABOARD, WERE LISTED AS
FOLLOWS; 20 TO 30 MESH 5. TO 6 CENTS;
80 TO 100 MESH 7 TO 8 CENTS.


SEPTEMBER 1932
4s.


P899 6ZLS0 Z9Z C

VC0nO71 -O 1 -lSa3AINn


I









.OCTOBER 27, 1932.


SUNITEDi STATEi DEPARTMENTT OF AGRICULTURE.
BUREAU QO AGRICULTURALL EcONOMoICS .
S. MARKET NBEWS SERVICE WASH JNGTON, D.C.
'DRY MILK MARKET REPORT FOR OCTOBER 1932


COVER I
F.O0,B.
MAY BE


"MANUFACTURERS!. WHOLE5A'IE SEL:LIN G: PR~iES",DURING-- SEPTEMBER "
THE WMOLESA'LE PRICES GIVEN BEL0.W' ARE BASED .UPON "REPORTS FROM MANuFACTURERS
NG ACTOAL SALES TO JOBBERS, WHOLESALE;(dROCERS: AND. SIMILAR BUYERS FOR GOODS
FACTORY ON THE SASIS OF CASH OR SH1RT, TIME. CREDIT. IW D Em RANGES i N.PRICES
I N P'ART ATTIC RIBUTED' "TO Dl= IFFEI NICES', INM EQUALITY OR GRADE OF PRODUCT SOLD.'


DRY -SKIM MILK DRY WHOLE MI!K DRY BUTTERMILK
(BULK OODS) '_ (BULK GOODS) (BULKGOODS)
REPORTED SALES REPORTED SALES :" REPORTED SALES
OUNDS P: POUNDS
PRICE: IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
:2 2-- 900 3 3- 13 55,300 21 31 1,654,593 104,000
2 3 2,363,209 810,336 131 14 9,092 3 838,779 15,540
3 .- 4,946,392 967,025 14 15 365,.872 4- 158,192


41- 5 2 4: 2- 16,250
4 4^ 40,356 4,001,142 61- 17^ 276,926 6 7 - 6,675
.4- 5 3,890 4,273,553 17 18-.. "
5 -5 272,905 1:8 8,00.1o
5 -6 701,900 9- 2o 10
6 6 57,.140 -
TOTAL 7,816,458 12,399,660 722,066 2,493,372 300,657
GRAND TOTAL 20,216,118 722,.066 2,794,029
AVERAGE PRICE SEPT.1932. 4.020 15.53 3.35-0
AUG. 1932. 3.780 15.330 3.400
I SEPT.1931 4.060 17.280.1 3.600


WHOLESALE PRICES REPORTED
DRY WHOLE MILK (I LB. CANS) 36.510


ON CASE GOODS
PER POUND.


WENE AS FOLLOWS:


WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS SEPTEMBER
DRY SKIM MILK
(CENTS PER LB.)


BOSTON -
NEW YORK .'
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
3.25 4.5
2.75 -. 4.5
3.5 4
2.5 ; 6-
3.5 4.5
2.5 5


BBLS.
3.5 6 i
2.92 6.25
3.5 6
2,.75 -.6 -
4;125- 6 6
.2.5. 5.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS BBLS.
5.5
2.-62; 3.75 4.5
- 4 4.5
4 4.75
3.15 4.5 4.75


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED-BY THEM:'OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES,- IN STORAGE OR iN TRANSIT (UNSOLD)- FOR WAREHOUSE CONSIGNMENT, AND
WHETHER-SOLD OR'CONTRACTED FOR SALE BUT NOT DELI'VEREO.


9 F
j l
U. '


.~rc)-L


TOTAL STOCKS-ON HAND-
CLASSES OF __OCTOBER I, 1932
DRY MILK IN BAGS IN BARRELS TOTAL POUNDS(A) FIRMS*
(POUNDS) (ROUNDS) TOTAL P A)
WHOLE MILK 36,304 2,325',743 3,914,943 15
SKIM MILK 7,064,247 .10,359,285 17,510,087** 116
PART SKIM 0 28,738 81,123 3
CREAM POWDER 0 4,978 4,978 3
BUTTERMILK 1 1,919,859 i 122,182 2,042,041 66


.3


(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,552,896
POUNDS; SKIM, 86 555 POUNDS; PART SKIM, 52,385 POUNDS.
.*EQUIVALENT TO 24 DAYS' REQUIREMENTS:. ON.THE.BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU-OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM.MILK ON OCTOBER I WERE EQUAL TO APPROXIMATELY 24
DAYS' REQUIREMENTS, IN COMPARISON WITH 27 DAYS ON SEPTEMBER I,
1932. CALCULATED. QN:THE "SAME'BASIS A YEAR AGO. STOCKS ON
HAND OCTOBER I, 1931 ERE THE EQUIVALENT OF A'33 DAYS' SUPPLY.


COMPARISON.OF TOTAL.STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS POUNDSS) .ON"HAD: FOR SAME-'FRMS REPORTING
CLASSES OF*
DRY MLLKS PREVIOUS YEAR PREVIOUS MONTH
SFIRMS* OCT. -1, 1932 OdC. 1951I FIRMS* 'OCT.. I 1932 SEPT.I 1932
WHOLE MILK 12 3,910.760 3 .93,830 15 3,914,943 .4,270,305
SKIM MILK 92 16,814,579 23.087,161 112 17,359,040 20,248,742
PART SKIM 3 -81,123 64,297 3 81,123 99,846
CREAM POWDER 2 .' 4,524 ... 30238 .3 4.978 9,316
BUTTERMILK 54 1,927,944 6 308,471 61 2,005,648 2,910,079


* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT
FIRMS OPERATE.MORE THAN ONE FACTORY .


NUMBER
:: i


OF FACTORIES SINCE SOME


.....(OVEn)

' OCTOBER 1932







PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS SEPTEMBER


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF PREVIOUS YEAR PREVIOUS MONTH
DRY MILK c .,
S' .. FRMS* ..: EPT.3 1i932, SEPT. 1931 FIRrS* SEPT. 1932 AUG. 1932
WHOLE MILK: 586;709 .5 55627- 14 592,574 570,831
SKIM MI.LK:.. 9 866,542,- :.1 386,727 1,083,505 18,974,905
PART SKIM .. 2 t -0-t;839e. .- -34,225. _. I.10,839 58, 82'
CREAM POWDER 3 324- 31,009 324 14,004
BUTTERMILK 4 2,079,761... 2,014,505 .6 128,234:' ,545.294-
REPORTS 'I NDI CATE THAT SEPTEMBER PRbbU.CI ON WAS; PACKED AS- FOLLOWS:
DRY WHOLE MILK: BAGS' 8.89' -. BARRELS .88.56% '' CASES 2.55%.
DRY SKIM MILK: 46.65% (7,558,,43 LBS- s);-: ;I '.53:.35* (8, 645:,142 ,LES.) *
DRY BUTTERMILK: -" 87.78% (1,903,878 LB.S..);. 12.22% (.- :264,925-'LBs.)
PRODUCTION DRY SKIM MILK AUGUST 1932 ('ALL'FIRMS WfWH I- REPORTED) 1.9,205,020. POUNDS.
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT 1UiMB.ER O:F FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY MILK DURING SEPTEMBER 1932


EXPORTS


EXPORTS TO
EUROPE
UNITED KINGDOM
NORTH AMERICA
CANADA
MEXICO
NEWFOUNDLAND & LABF
PANAMA
SOUTH AMERICA
ARGENTINA
COLOMBI A
PERU
VENEZUELA
ASIA
-C~I NA
OCEANIA
PHILIPPINE ISLANDS
OTHER COUNTRIES


RADOR


POUNDS

63,684

6,210
49,392
6,534
15,610

24,740
14,545
4,780
6,348

6,584

23,327
34.55


IMPORTS
IMPORTS FROM
EUROPE
UNITED KINGDOM
NORTH AMERICA
CANADA


POUNDS

362

42,475


09 TL- SEPTEMB 1932 2 09 TOTAL- SEPTEMBER 1932 42,837
TOTAL- SEPTBER 1931854,27 TOTAL SEP 1 SEPTEMBER 19.31 35,488
JAN. SEPT. (INC.) 1932 2,882,366 JAN. SEFT. (INC.) 1.932. 423,422
JAN. SEPT. (INC.) 1931 10,382,680 JAN. SEPT. (INC.) 1931 835.;945


CASEIN IMPORTS SEPTEMBER
CASEIN IMPORTS JAN. SEPT.


(INC.)


1932 .
142,825 LBS.
909,525 LBS.


1931
46,310 LBs.
2,649,415 LBS.


DRY MILK MARKETS STEADY


- CONSUMPTION JUST FAIR


DRY MILK MARKETS.RULED STEADY TO
FIRM EARLY IN NOVEMBER AND PRICES.ON
CERTAIN CLASSES WERE ADVANCED FRACTION-
ALLY IN SOME SECTIONS. AT THE NEW PRICE
LEVEL, HOWEVER, SENTIMENT SOFTENED AND,
AT THIS TIME, THE TONE IS NOT MORE THAN
STEADY, ACCORDING TO THE U.S. BUREAU OF
AGRICULTURAL -ECON.OM.ICS. .TRADING, FAIRLY
SATISFACTORY EARLY IN THE.MONTH, HAS -
ALSO SLOWED DOWN; WHILE PRODUCTION HAS
BEEN RATHER WELL MAINTAINED. AS A *
RESULT, SOME ACCUMULATIONS IN STOCKS
WERE REPORTED.

TOTAL DRY MILK PRODUCTION DURING
SEPTEMBER, THE LATEST MONTH FOR WHICH
DEFI NITE COMPARATIVE FIGURES ARE AVAIL-
ABLE, WAS 9.5 PER CENT HEAVIER THAN
DURING THE SAME MONTH IN 1931. THE ABOVE
FIGURE, THEREFORE, REPRESENTS A FURTHER
INCREASE IN THE MAKE, OVER A YEAR AGO,
FROM 7.1 PER CENT IN AUGUST. OF THE
SEVERAL CLASSES OF DRY MJLK, DRY SKIM
MILK PRODUCTION WAS RELATIVELY THE
HEAVIEST WITH THE MAKE IN SEPTEMBER 10.8
PER CENT HEAVIER THAN A, YEAR-AGO; WHILE
WHOLE MILK PRODUCTION WAS 5.6 PER CENT
HEAVIER, AND THE. OUTPUT OF BUTTERMILK
3.2 PER CENT HEAVIER. CREAM POWOER-.
PRODUCTION CONTINUED AT A.DEC.IDE6LY
LOWER LEVEL THAN IN 1931. -C6MPAR'ED .WITH
THE PREVIOUS MONTH, THE SEPTEMBER OUTPUT
OF DRY MILK SHOWED A-SEASONAL DECREASE
OF 1.8.8 PER CENT. ON ACCOUNT OF THE
SEVERE SHRINKAGE IN T)E PRODUCTION OF'
DRY SKIM MILK IN SEPT-EMBER, 1931:, THE .-
SEASONAL DECLINE 'IN:: .R'Y -f LK MANUFACTURE
WAS ABOUT FOUR PEF' CENT :ISESS MARKED THIS
YEAR THAN LAST YEAR.

OCTOBER I TOTAL STOCKS OF DRY M'ILK'
WERE STILL 30.5 PER- CENT LI.-GHT-ER THAN ON
THE SAME DATE IN 1931; ALTHOUGH' SEPTEMBER
I STOCKS WERE 36.6 PER CENT LIGHTER THAN
A YEAR AGO. STOCKS OF BUTTERMILK, 69.4-
PER CENT LIGHTER.THAN A YEAR AGO, SHOWED
THE GREATEST RELATIVE DEFICI-T; BUT
SUPPLIES OF DRY SKIM MILK.,, 27.0' PER CENT
LIGHTER THAN A YEAR AGO, WERE LIKEWISE
UNUSUALLY LIGHT BEING SUFFICIENT TO LAST
1.669 6ZL90 Z9Z1

vni).m- -iJn I o A -


THE COUNTRY FOR ONLY 24 DAYS AT THE
CURRENT RATE OF CONSUMPTION, IN COMPARISON
WITH A 27 DAYS SUPPLY _QN SEPTEMBER I, AND
A 33 DAYS SUPPLY ON OCTOBER I 1931.
STOCKS OF WHOLE MILK WERE 25.6 PER CENT
HEAVIER- ON OCTOBER I THIS YEAR THAN LAST
YEAR. THE 15.2 PER CENT REDUCTION IN
TOTAL DRY MILK STOCKS DURING SEPTEMBER
-THIS YEAR WAS APPRECIABLY LIGHTER THAN
THAT EXPERIENCED- A' ;.YAR AGO, BUT.VWAS FULLY
UP TO THE AVERAGE.
REPORTED SALES.;OF DRY SKIM MILK
AND DRY WH O.E MILK IN-SEPTEMBER THIS YEAR
FELL CONSIDERABLY SHORT OF THOSE OF A'
YEAR .AO, BUT DRY BUTTERMILK SALES WERE
SLIGHTLY HEAVIER. AVERAGE SELLING PRICES,
AS COMPUTED FROM REPORTED SALES, REVEALED-
AN.ADVANCE OF 0.24 CENT IN-THE PRICE OF
DRY SKIM MILK SEPTEMBER OVER AUGUST, OF
0.20 CENT I:N THE PRICE OF DRY WHOLE MILK,
BUT A DECLINE OF 0.05 CENT IN THE PRICE
OF DRY BUTTERMILK. DRY WHOLE MILK, ON
THE AVERAGE,, THEREFORE, RETURNED 1.75
CENTS LESS 'THAN IN SEPTEMBER, 1931, WHILE
DRY SKIM MILK AND BUTTERMILK PRICES
AVERAGED JUST FRACTIONALLY LOWER, ALTHOUGH
FRACTIONALLY. HIGHER THAN A YEAR AGO IN
AUGUST.
CASEIN MARKETS HAVE CONTINUED TO
WORK INTO A STRONGER POSITION. WHILE'
CONSUMPTION STILL LEAVES MUCH TO BE
DESIRED, STOCKS ARE BEING REDUCED IN NEAR-
LY ALL QUARTERS BY AN.EVEN LIGHTER MAKE.
TAKING COGNIZANCE OF THIS SITUATION, SOME
MANUFACTURERS AND DEALERS HAVE REFUSED TO
BOOK ADVANCE ORDERS UNTIL SUCH TIME WHEN
THE MATTER 'OF-SUPPLY .B.ECOMES MORE STABIL-
IZED.. DUR.ING-RECENT MONTHS CONSIDERABLE
MILK WHICH IS USUALLY CONVERTED INTO
CASEIN WAS DIVERTED INTO DRY MILK AS THE
LATTER PRODUCT WAS SAID TO BE YIELDING
RELATIVELY BETTER RETURNS. ON THE
ATLANTIC .SEAB6AO .20 TO 30 MESH CASEIN
EARLY IN OCTOBER SOLD GENERALLY AT 6-PER
POUND, BUT.'THIS PRICE WAS ADVANCED TO 70
LATER IN THE MONTH AND, AT THIS WRITING,
THE COMMON ASKING PRICE IS 7--. EIGHTY
TO 100'MESH GOODS ARE SELLING AT 8 TO-81.
*ARGENT.INE.,CASI N IS BEING OFFERED, C. I.
NEW;-YORK;-.'AT 2 CENTS, BUT FEW SALES ARE
MADE.







NOVEMBER 30, 1932


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOi NOVEY;BER 1932
MANUFACTURERS' WHOLESALE SELLING PRICES DURING OCTOBER
THE WHOLESALE PRICES GIVEN BELOW,ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE-3ASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY BE'IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DRY SKIM MILK DRY .-HLE MILK DRY BUTTERMILK
(BULK GOODS) (BULK.GOODS) ., (SULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PR rCE POUNDS .PRICE IN BAGS IN BBLS.
2 2- 381,486 13 1310 60,300 1. 21 I11,175 -
21 3 2,014,558 544,192 13.1 14. 2,800 21 3- 1,053,636
3 3 3,392,675 741,387 14- 15 4 451,177 3 4. 961,972 -
3 4 983,260 1,191,719 15 16-r 254,022 4- 5-. 20,418
4 4 181,121 2,305,134 5 25,450
4 5 1,700 5,825,785 17 18- 1,516 6-- 7 6,550
5 52 159,205
5. --6 935,280
6 61 139,175
TOTAL 6,954,800 11,841,877 769,815 2,026,783 52,418
GRAND TOTAL 18,796,677 789,815 2,079,201
AVERAGE PRICE OCT. 1932 4.02 15.030 3.460
SEPT.1932 4.020 15.530 3.350
". OCT. 1931 4. 11i_ 1_8.01[o 3.530
WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
DRY WHOLE MILK (I LB. CANS) 36.86 PER POUND.
WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS OCTOBER


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
3.03 4.5
2.5 4.5
'3.5 4.5
3 4.5
3.5 4.5
2,5 3.5


D
(C
BBLS.
3.35 -
2.82 6
4.25 -
2.5 -
4,48 -
-2.5 -


RY SKIM MILK
ENTS PER LB.)


6
.25
6
6
6
6


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS BBLS.
4.25 6
3 4 5
4 4.75
4.5 6
3.15 4.5 5


MANUFACTURERS' STOCKS OF DRY vILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAR-EHOUSE CONSIGNMENT, AND-
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVER.ED..-.'

TOTAL STOCKS ON HAND
CLASSES CF NOVEMBER,.I, 1932
DRY MILK IN BAGS IN ARRELSTOTAL POUNDS(A)FIRMS*
POUNDS) (POUNDS) TOTAL POUND
WHOLE MILK 1,192 2,026,419 3,459,037 15
SKIM BMILK 7,007,489 9,383,263 16,467,405** 117
PART SKIM 0 25,534 77,478 3
CREAM POWDER 0 5,067 5,067 3
BUTTERMILK 1,817,065 162,263 1,979,328 64
(A) INCLUDES CASE GOODS AS FOL'-OWS: WHOLE MILK 1,431,426
POUNDS; SKIM, 76,653 POUNDS; PART SKIM, 51,944 POUNDS.
**EQUIVALENT TO 23 DAYS' REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON NOVEMBER I WERE EQUAL TO APPROXIMATELY
23 DAYS' REQUIREMENTS, IN COMPARISON WITH 24 CAYS ON
OCTOBER I, 1932. CALCULATED ON THE SAME BASIS A YEAR AGO
STOCKS ON HAND NOVEMBER I, 1931 WERE THE EQUIVALENT OF A A9
DAYS SUPPLY.
__COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
I. TOTAL. STOCKS POUNDS) ON HAND FOR SAME FIRMS REPORTING
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
__FIRMS* NOV. [, 1932 Nov;.. 131 FiRMS* NO. 1,1932 OCT. 1,1932
WHOLE MILK 14 3,434,390 ..2,749,904 15 3,459,037 3,924,194
SKIM MILK' 104 15,934,39.1 20., 530,046 114 16,444,853 17,732,147
PART SKIM 3 77,478.. 68,482 3 77,478 81,123
CREAM POWDER 3 5,067 35,572 3 '5,5C7 4,978
BUTTERMILK 58 1,903,.225 5,087,122 64 1,979,320 2,033,741
* FIGURES SHOWING NUMBER OF F.IRMS..DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS:OPERATE MORE THAN ONE FACTORY.
S UNIV. O- FL LiA.
. (oVER) DOUET EPT

NOVE.'3ER IS32 ."


U.S. DEPOITTORy







PAGE 2
PRODUCTION OF DRY MILK REPORTED .BY MANUFACTURERS OCTO3ER

INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF
DRY ~:ILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* OCT. 1932 OcT.. 1931 FIRMS* OCT. 1932- SEPT. 1932

WHOLE ;ILK 13 .. 488,604 797,157 14 512,575 599,924

SKIM MILK 103 16,195,719 .15,897,845 113 17,001,140 16,484,305

PART SKIM 2 23,781 .28,354 2 23,781 10,839

CREAM PO'.DER 3 ..9090 ,-57,770 3 9,090 324

BUTTERMILK 59 2,171,127 2.,53,324 .64- 2,229,955 2,153,665
REPORTS INDICATE .THAT OCTOBER -PRODUCT ION WA-S-PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 0.13- '" BARRELS 82.75 '' CASES 17.12 .
DRY SKIM MILK: "41.240(7,012,790LBs) 58.76,(9,9050 LBS)
DRY BUTTERMILK: 93.200o(2?083,4.7LBs) ".. 6.80( 152,088LBs)
PRODUCTION DRY SKIM MILK SEPTEMBER 1932 (INCLUDING LATE REPORTS) INDICATE:
BAGS 7,553,431 LBS (45.67"); BARRELS 8,990,664 LBS (54.33%); TOTAL- 16,549,095
POUNDS.
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY F,,ILK DURING OCTOBER 1932


EX-ORTS


EXPORTS TO
EUROPE
PORTUGAL
UNITED KINGDOM
NORTH Ai:-ERICA
MEX I CO
PANAMA
SOUTH AMERICA
COLOMBIA
VENECUELA
ASIA
CH I NA
JAPAN
OCEANIA
PHILIPPINE ISLANDS
Or tW1'D nrl IKID I C---i


* POUNDS

5,625
.7,374

20,951
22,426

12,705
12., 1|32

I 7 ,037,
20, 105
12,208
A7 Oc::f .\ .


IMPORTS
IMPORTS FROM
EUROPE
SWITZERLAND
UNITED KINGDOM
NORTH A: ERICA "
-. *CA.;ADA


POUNDS

132
432

66,475


UlTHin OUr UIUIIU I .. ....cl-,2~.--
TOTAL OCT03ER 1932 177,812 TOTAL QCTOBER 1932 67,039
TOTAL OCTOBER -1931 970,238 TOTAL OCTOBER 1931 110,947
JAN. -*OCT. (:INCT..1932 3,060,178 .- .JAN. OCT. (INC.) 1932 490,461
JAN. CCT:; (INC.). 1931 1 I 11,352,918 '-JAN. OCT. (INC.) 1931 946,892


,CASEIN IMPORTS OCTOBER
CASEIN IMPORTS JAN. OCT.


1932
25,31 1 LBs.
('INC.) 934,836 LBs.


1931
231,070 LBS.
2,880,485 LBS.


DRY MILK MARKETS CONTINUE ST-EADYv.- STOCKS STILL LIGHT


NOVEMBER DRY MILK MARKETS
CONTINUED STEADY AT THE HIGHER LEVEL OF
PRICES ESTABLISHED IN OCTOBER., ACCORDING
TO THE U.S. BUREAU OF AGRICULTURAL
ECONOMICS. OF THE,TWO CLASSES OF DRY
MILK, THAT USED FOR HUMAN CONSUMPTION'_WAS
IN A RELATIVELY BETTER POSITION THAN THAT.
USED FOR ANIMAL. FEED,.THE ..EMAND FOR .
WHICH IS AT THE.LOW POI-NT AT THIS SEASON
OF THE YEAR. THE MOVEMENT.INTO CON-
SUMPTION.APPEARED SOMEWHAT LIGHTER THAN
DURING THE SEVERAL PREVIOUS MONTHS, AS-
BUYERS OF.THE BETTER GRADES'CONTINUED TO
OPERATE .ON A HAND-TO MOUTH BASIS WHILE
FEED MANUFACTURERS;AND FEEDERS ARE TAKING
ONLY RELATIVELY.-SMALL QUANTIT-I-ES-:-AT THIS'
SEASON. .EXCEPT FOR THE-USUAL 8EASONAL
DECLINE, THE PRODUCTION SITUATION WAS
GENERALLY UNCHANGED WITH THE MAKE SOMiE-'
WHAT LIGHTER THAN I-N 1931. Sf6GK.S ALSO
CONTINUED TO DECREASE AND, LATE IN
NOVEMBER, WERE ESTIMATED AS STILL.
MATERIALLY LIGHTER THAN AT THE SAME TIME
A YEAR AGO. .

TOTAL DRY-MILK PRODUCTION DURING
OCTOBER, THE LATEST MONTHj,.OR .WHR'CH
DEFINITE COMPARATIVE FIGURES.ARE AVAIL-
ABLE, WAS 2.3 PER CENT LIGHTER THAN DURING
THE SAME MONTH IN 1931. THE INCREASE IN .
THE MAKEOVER THE PREVIOUS MONTH OF 2..7 '-
PER CENT WAS LIGHTER THAN THAT WHICH
OCCURRED A YEAR AGO, '.WHEN THERE WAS AN-- ..-
INCREASE IN OCTOBER OF 13.0 PER CENT:OVER
SEPTEMBER. OF THE SEVERAL CLASSES OF DRY
MILK, DRY SKIM MILK PRODUCTION CONTINUED".
RELATIVELY THE HEAVIEST, ..THE OCTOBER MAKE .
BEING 1.9 P.ER CENT HEAVIER THAN A YEAR.
AGO,' WHILE THE OUTPUT-OF DRY BUTTERMILK
Ws .15.0 PER CENT LIGHTER, AND THE MAKE
OF DRY WHOLE" M1LK'38.7 PER CENT LIGHTER.

NOVEMBER I TOTAL" STOCKS: OF- 'DRY:
MILK WERE STILL 24.9 PER CENT--L-4GHIT.ER-
THAN ON THE SAME DATE IN .:93 i .B-Tij'iE- -


In.L 6ZL9O IZ9~1

IIIII 111111111 11111 1111111111111111111111 111111
V(]I1O--I :10 ADIS83AINn


OCTOBER REDUCTION IN STOCKS OF 7.6 PER
CENT"PROVED CONSIDERABLY LIGHTER THAN
DURING-THE SAME MONTH A YEAR EARLIER AS
SUPPLIES ON OCTOBER I WERE 30.5 PER CENT
LESS'.THAN A YEAR AGO. STOCKS OF DRY
BUTTERMILK AGAIN SHOWED THE GREATEST
DEFICIT 'JN.CER A YEAR AGO, WITH NOVEMBER 1
SUPPLIES ONLY 62.' .P.EC .-ENT AS HEAVY AS
A YEAR-AGO; DRY SKIM MI L STOCKS, 22.3
PER CENT LIGHTER THAN A YEAR AGO, WERE
ONLY SUFFICIENT TO LAST THE COUNTRY FOR
23 DAYS AT THE CURRENT RATE OF CONSUMPTION
IN COMPAF I SON" WITH 24 DAYS A MONTH AGO',
AND 29-.DAYS ON THE SAME DATE A YEAR AGO;
WHILE SUPPLIES OF DRY WHOLE MILK WERE.
STILL 2-4.9 PER CENT'-HEAVI ER THAN .AYVEAR
AGO.

"'REPO-.tTED SALES OF ALL CLASSES OF
DRY MILK WERE APPRECIABLY LIGHTER IN
OCTOBER THIS YEAR THAN LAST YEAR WITH
BUTTERMILK SALES SHOWING THE LARGEST
RELATIVE:AS WELL AS ABSOLUTE DECREASE.
OCTOBER SALES OF DRY SKIM MILK AND
BUTTERMILK WERE ALSO CONSIDERABLY LIGHTER
THAN -SEPTEM:3R SALES, WHILE"DRY WHOLEMI.K
SALES WERE SOMEWHAT HEAVIER; AVERAGE -.
SELLING '.PR ICES,..AS-' COMPUTED-FROM REPORTED
SALES, REVEALED NO'CHANGt.FROM THE
.PR.EVI OU.S MONTH I. NSOFAR.. AS. OC.TO.BER...DR.Y ....
SKIM MI-I': SALE'S-WERE CONCERNED, BUT.-
SHOWED A DECLINE OF 0.50 CENT. I-N THE CASE
OF---.WHOLE MILK, AND AN' ADVANCEOF-0 .II1
.CENT.S...I N .THE .C.ASE..OF 'TTERM- I- -....-- .- -

"'.CASEIN MARKETS ..COIT.l.N(I.Ed 'iN A
T'EADY PROSI'TIO N Q'DU. 1 NG N OV EM.B;ER .:. rD DEMAND
.WAS SLOW-, BUT-P.r.ODUCTI N ..WA S ALSO, Lb.lHT .
AND..sTOCKS, WH IL E ,.AMR,4E,- D QO. NOT ..PROV,.E
BURDENSOME. E .. .NOV E A.ER- QU.O.T T I .ON S, F.0,,,-.
ATLANTIC SEABOARD, WERE LISTED AS
:FOL ccW. OS"T' 'TO "3Q :KE'SH-,.7-.C..EANTS; 80 TO
100 '--s- -" Yo 8 c sO.OENr'." S0ME ARGENTINE
-CASE"Ti-fFA T9 r.'fEREI, .C.I.F. NEW YORK, AT 2
'C'ENTSV,'"BU't' Y'IE'SE"' OFFERS RECEIVED BUT
NOMINAL ATTENTION.


NOVEMBER 1 932


I- -









DECEMBER 30, 1932


UNITED ST,TES:bEPARTMENT OF AGRICULTURE
BUREAU OF AGRI UL';URAL ECONOMICS
MARKET NEWS SERVICE

DRY /ILK MARKET REPORT FOR DECEMBER 1932


MANUFCTL:RERS' WHOLESALE SELLING PRICES DURING NOVEMBER
THE WHOLESALE PRICE$ GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE BASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY BE IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DRY SKI<.: MILK DRY WHOLE MILK DRY BUTTERMILK
BULK GOODS) (3ULI< GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POU-ND S FOUNDS
PRICE IN BAGS IN BOLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
2 20 1,022,167 II II 3,125 I1 -2 0 11,325
21- 3 1,469,665 6,900 111-12 21 -3 962,223 -
3 31 2,819,978 1,314,826 12 -13 103,214 3 -4 756,872 -
S-4 407,253 650,964 13 -14-- 2,200 4 -5 57,488
4 4- 62,626 1,593,678 41- -5 415,557 5 17,100
41- 5 1,855 6,060,286 I5 -.-1 243,898 -7 8,000
S- 5 382,586 1--\17
5 6 514,969 7 -181 736

TOTAL 5,783,544 10,524,209 770,730 1,730,420 82,588
GRAND TOTAL 16,307,753 770,730 1,813,008
AVERAGE PRICE NOV.1932 3.920 14,90. 3.380
OCT.1932 4.020 15.03'j 3.460
NOV.1931 4.230 17.860 3.450


DRY WHOLE


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUis


WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
MILK (I LB. CANS) 35.540 PER POUND.
WHOLESALE SELLING PRICES F. 0. B. DISTRIBUTING POINTS NOVEMBER
DRY SKIM MILK
(CENTS PER LB,)


BAGS
3,5 4.5
2.5 4.5
3.25 4.5
2.75 4.5
3.5 4.5
2.75 3.5


BBLS.
4.5 6
3.01 6.25
4.953- 6
4 -6
5 -6
2.5 -6


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

3.24

3.2


BBLS.
4.75 6
4 5
4 5
4.5 -6
4,5 5


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN POSSESStO.N OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PURCHASED FROM OTHERS, WHETHER ON THEIR
OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED-FOR SALE BUT NOT DELIVERED.

TOT ,L STOCKS ON HAND
CLASSES OF ___DECEMBER I, 1932
DRY MILK I BAG IN BARRELS TOTAL POUNDS(A) FIRMS*
Lj(r OUNDS (PouNDS) ___TA
WHOLE MILK 25,819 1,539,431 2,941,362 14
SKIM MILK 6,745,920 8,377,625 15,194,249** III
FART SKIM 0 17,078 63,966 3
CREAM POWDER I 0 5,172 5,172 3


BUTTERMILK


2.512.187


147,646 2,59,833 64


(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,376,112
POUNDS; SKIM 70,704 POUNDS; PART SKIM, 46,880 POUNDS.
**EQUIVALENT TO I2 DAYS' REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON DECEMBER I WERE EQUAL TO APPROXIMATELY
21 DAYS1 REQUIREMENTS, IN COMPARISON WITH 23 DAYS ON NOVEMBER
I, 1932. CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON
.HAND DECEMBER I, 1931 WERE THE EQUIVALENT OF A 29 DAYS'
SUPPLY.
_COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
__FIRMS* DEC. I, 1932 DEC. I, 1931 FIRMs* DEC. I, 1932 Nov.|,1932
WHOLE MILK 14 2,941,362 2,414,670 14 2,941,362 3,434,390
SKIM MILK 100 14,816,887 20,390,175 110 15,163,349 16,141,950
PART SIIM 3 63,966 62,048 3 63,966 77,478
CREAM POWDER 3 5,172 2,934 3 5,172 5,067
BUTTERMILK 56 2,547,679 4,041,279 61 2,574,783 1,959,228
* FIGURES .SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMB E OME
FIRMS OPERATE MORE THAN ONE FACTORY. UNIV. L

(OVER)
DECEMBER 1932 E --

U.S. DEPOOTO0


WASHINGTON, D.C.


-.






PAGE 2


PRODUCTION OF DRY MILK REPORTED 5Y MANUFACTURERS NOVEMBER


INCLUDES REPORTS FROM PRINCIPAL FIRWS OPERATING CRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
DRAY MILK PREVIOUS YEAR PREVIOUS MONTH
FI;,MS* Nov. I132' Nov. 1931 FIRMS* S Nov. 1932 OCT. 1932
WHOLE MILK 13 489,030 n09S,533 13 489,030 488,604

SKIM MILK 99 14,479,516 14,32,2S 107 15,083,459 16,890,988

PART SKIM 2 9,787 1_,437 2 9,787 23,781

CREAM POWDER 3 4,635 0 3 4,635 9,090

BUTTERMILK 56 2,192,364 I 3,025,114 60 2,220,040 2,226,755
REPORTS INDICATE THAT NOVEMBER PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK:- BAGS 5.68 BtBLs. 71.86% CASES 22.46%
DRY SKIM MILK :- 38.90 ( 5,919,257 Las.) 61 09 (9,297,132 LBS.) 0.01
DRY BUTTERMILK:-- 92.68 (2,107,84 ) 7.32 ( 163,46 )
PRODUCTION DRY SKIM MILK OCTOBER 1932 (SAME AS PUBLISHED LAST MONTH) INDICATE:
BAGS 7,012,790 LBS. (41.24%); BARRELS 9,950,950 LBS. (58.76%); TOTAL 17,003,740
POUNDS.
*FIGURES SHOWING NUMBER OF FIRMS 'O NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXfORTS A'JD, IMF ORTS OF DRY M ILK DURING NOVEMBER 1932


EXPORTS
EXPORTS TO
EUROP-E
SPAIN
NORTH AMERICA
MEXICO
PANAMA
SOUTH AMERICA
BRAZIL
COLOMBIA
VENEZUELA
ASIA
HI NA
HONG KONG
JAPAN
OCEANIA
:? HILIPPINE ISLANDS
fr) w'lrI I- l kli r- i


I Mi -ORTS


POUNDS


4,262

58,369
17,875

9,525
6,455
16,506
27,508
6,260
39,880

55,918.


IMPORTS FROM
EJROFPE
SWITZERLAND
UNI TEC KI NGDOM
NORTH AMERICA
CANADA


POUNDS


331
874

39,011


OTHER COUNTRIES 48,433
ui i nr_- UUUINI I b_ 1_, 4I^ | "
TOTAL NOVEMBER 1932 290,991 TOTAL NOVEMBER 1932 40,216
TOTAL NOVEMBER 1931 712,086 ;TOTAL NOVEMBER 1931 I10 196
JAN. NOV. (INC.) 1932. 3,351,169 JAN. NOV.( INC.) 1932 530,677
JAN. NOV. (INC.)' 12,05,00N. NOV. N.)1931 1,05088


*


CASEIN IMiORTS NOVEMBER
CASEIN IMPORTS JAN. NOV. (INC..)


1932
130,341 Les.
1,1 15,477 LBS.


DRY MILK MARKET STEADY DEMALD SOME.iHAT MORE ACIIVE


DECEMBER DRY MILK MARKETS HELD STEADY
AT GENERALLY UNCHANGED QUOTATIONS FROM
THOSE OF THE PREVIOUS MONTH, ACCORDING TO
THE U. S. BUREAU OF .AGRICULTURAL ECONOMICS
TRAD I NG, ON -THE. WHOLE.- PROVED :.FAI RLY SAT-
ISFACTORY FOR THIS SEASON OF THE YEAR
WITH .THE BETTER GRADES OF DRY MILK, USED
FOR HUMAN CONSUMPTION, RECEIVING THE BULK
OF ATTENTION. FEED MANUFACTURERS AND
FEEDERS, HOWEVER, ALSO DISPLAYED MORE IN-
TEREST. rRO.DUCTION HELD ABOUT EQUAL TO
THAT OF A YEAR AGO, HAVING NOW PASSED THE
LOW POINT OF THE YEAR. SOME MANUFACTUR-
ERS WHO HAD CEASED OPERATIONS IN A NUMBER
OF THEIR PLANTS SOME MONTHS AGO, DUE TO
THE UNFAVORABLE POSITION OF THE DRY MILK
MARKET,. ARE NOW CONTEMPLATING THE RESUMP-
TION OF ACTIVITIES IN SOME OF THESE ES-
TABLI'SHMENTS IN VIEW OF THE PRESENT MORE
FAVORABLE MARKET SITUATION. STOCKS CON-
TINUED TO SHRINK AND, AT THIS WRITING,
ARE SAID TO BE STILL APPRECIABLY LIGHTER
THAN A YEAR AGO.
TOTAL DRY MILK PRODUCTION DURING
NOVEMBER, THE LATEST MONTH'FOR WHICH DEF-
INITE COMPARATIVE FIGURES ARE AVAILABLE,
WAS 4.4 PER CENT LIGHTER THAN DURING THE
CORRESPONDING MONTH A YEAR AGO. THIS IS
IN COMPARISON WITH A 2.3 PER CENT LIGHT-
ER MAKE IN OCTCJER THIS YEAR THAN LAST
YEAR, AND.A 9.5 PER CENT HEAVIER OUTPUT
IN SEPTEMBER THIS YEAR OVER A YEAR AGO.
OF THE SEVERAL CLASSES OF DRY MILK, DRY
SKIM MILK PRODUCTION PROVED RELATIVELY
THE HEAVIEST, THE NOVEMBER MAKE BEING I.2
PER CENT HEAVIER THAN A YEAR AGO, WHILE
THE OUTPUT OF DRY BUTTERMILK WAS 27.8 PER
OENT LIGHTER, AND THE MAKE OF DRY WHOLE
MILK 19.7 PER CENT LIGHTER. IN COMPARI-
^&/ WITH THE PREVIOUS MONTH, TOTAL DRY
(ILK PRODUCTION DURING NOVEMBER DECLINED
S.4 PER CENT. IN NOVEMBER LAST YEAR THIS
*/ ._ ..__. DEC EM,
ZOL9 6ZL90 Z9 I

I V]O7Od dO AIlSF:AItNn
; --


SEASONAL DECLINE AMOUNTED TO 5.0 PER CENT,
AND IN NOVEMBER, 1330 TO 4.0 PER CENT.
WiTH THE NoVE:BER REDUCTION IN TOTAL
STOCKS OF DRY MILK AMOUNTING TO 4.0 PER
CENT, OR BEING ABOUT THE SAME AS THE RE-
DUCTION DURING THE SAME MONTH LAST YEAR,
THE DECEMBER I DRY MILK SUPPLY SITUATION
WAS GENERALLY UNCHANGED FROM THAT ON THE
SAVE DATE A MONTH EARLIER. DECEMBER I
TOTAL STOCKS WERE STILL 24.3 PER CENT.
LIGHTER THAN ON THE CORRESPONDING DATE
IN 1S31. STOCKS OF BUTTERMILK, WHICH
WERE UNUSUALLY HEAVY AT THIS TIME LAST
YEAR, SHOWED THE GREATEST DEFICIT.UNDER
A YEAR AGO WITH DECEMBER. SUPPLIES 37.0
PER CENT LIGHTER. SUPPLIES OF DRY SKIM
MILK WERE 27.3 PER CENT LIGHTER THAN A
YEAR A3GO BUT STOCKS OF DRY WHOLE MILK
WERE 21.8 PER CENT HEAVIER.
REPORTED SALES OF CRY SKIM MILK AND
WHOLE MILK DURING NOVEMBER THIS YEAR WERE
SLIGHTLY HEAVIER THAN DURING THE SAME'
MONTH A YEAR AGO, BUT SALES OF DRY BUTTER-
MI'K WERE NEARLY 57 PER CENT LIGHTER.
COMPARED WITH THE PREVIOUS MONTH, NOVEMBER
SALES OF DRY WHOLE MILK WERE JUST SLIGHT-
LY HEAVIER, BUT SALES OF DRY SKIM MILK ANC
DRY BUTTERMILK WERE APPRECIABLY LIGHTER.
AVE::-AGE SELLING PRICES HELD GENERALLY UN-
CHANGEQ.
RASEIN MARKETS RULED STEADY TO FIRM,.
WHILE THE DEMAND CONTINUED GENERALLY SHOW
PRODUCTION CONTINUED TO DECLINE AND STOCK.
ALREADY..LIGHT, WERE STILL FURTHER REDUCED.
THE FOLLOWING QUOTATIONS APPLIED, F.O.B.
ATLANTIC SEABOARD 20 TO 30 MESH, 6 TO
7- CENTS; 80 TO 100 MESH, 7-1- TO 8 CNTS.
THERE WAS BUT A NOMINAL.'INTEREST IN THE
FOREIGN PRODUCT AND OFFERINGS, EVEN AT
EXTREMELY LOW FIGURES, RECEIVED HARDLY
ANY ATTENTION.
BER 1932


1931
129,735
3,010,220


LBS.
LBS.
Les.