Dry milk market report for ...

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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:
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 applicable rights reserved by the source institution and holding location.
Resource Identifier:
oclc - 39506362
ocm39506362
System ID:
AA00011437:00005

Related Items

Preceded by:
Powdered milk market report for ...
Succeeded by:
Monthly dry milk report for ...


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Full Text



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


WASHINGTON, D. C.


DRY MILK MARKET REPORT FOR JANUARY 1934
MANUFACTURERS' WHOLESALE SELLING PRICES DURING DECEMBER
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 BA3IS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY BE IN PART ATTRIBUTED T. 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.
21 3 2,431 2 13-0 352,050 3 3- 204,520
3 3, 702,598 13 4. 26,303 3. 4 817,125
34 4 835,574 6,315 14 15 121,883 4 5 1,167,031
4 4 940,158 15 16 311,911 5 6 400 62,394
4 5 1,662,087 6~ 17 66,452 6- 7 89,100
- 5 698,194 64,100 7 18 7 8- 11,550
5 6 83,925 693,670 1 98 -
6 6' 247,856 1,383,944 9- 20 -
S -7 1,906,669 20 2- -
7 7- 15C 6,194,273 21l 22 38
73 8 506,154
8 81 434,385
8-- 9 -
9 9- 57,225
TOTAL 5,178,973 11;251;735 878,643 2,189,076 163,044
GRAND TOTAL 16,430,708 878,643 2,352,120
AVERAGE PRICE DEC. 1933 6.15 14.35t 4.47
NOV. 1933 6.230 14.82 4.82
DEC. 1932 4.01 14.300 3.330


WHOLESALE PRICES REPORTED ON CASE GOODS
DRY WHOLE MILK (I LB. CANS) 36.780 PER POUND.


WERE AS FOLLOWS:


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


BOSTON
NEW YORK
PHILADELPHIA
CHJCAGO
CLEVELAND
ST. LOUIS


BAGS
5 6
4.25 6
3.75 6
4.25 6
4.25 6
4 4.75


BBLS.
6.75 9.25
6.5 9.25
5 9.25
5 8.5
6.75 8.5
7.25 8.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS BBLS.
8 8.5
4.5 5.75 7.75
7.25 7.75
3.26 3.9 10
7.25 7.75


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 DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF JANUARY 1, 1934
DRY MILK IN BAGS IN BARRELS
(POUNDS) POUNDS) TOTAL POUNDS(A) FIRMS*

WHOLE .MILK 69,712 2,134,133 2,882,942 19
SKIM MILK 11,097,106 15,514,841 26,612,897** 129 "
PART SKIM 0 56,336 56.336 2 0

CREAM POWDER 0 31,074 31,074 3 z
BUTTERMILK 4,368,946 241,076 4,610,022 76
A INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 679,097 POUNDS;
KIM MILK 950 POUNDS.
**EQUIVALENT TO 35 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 JANUARY I, WERE EQUAL TO APPROXIMATELY 35 DAYS'
REQUIREMENTS, IN COMPARISON WITH 26 DAYS ON DECEMBER I, 1933:
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
JANUARY I, 1933 WERE THE EQUIVALENT OF A 21 DAYS' SUPPLY.


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS


CLASSES OF
DRY MILK


TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING


FIRMS*


PREVIOUS YEAR


JAN. 1 ,1934


JAN. 1,1933


PREVIOUS MONTH


DEC. 1,1933


I r-- 1


F I RMS*


JAN. 1,1934


WHOLE MILK 16 2, 59,207 2,512.170 19 2,832,942 2,659,494
SKIM MILK 105 25,350,804 1__,860,773 1_27 26,574,293 19,583,625
PART SKIM 2 55,336 29,478 2 56,336 95,152


CREAM POWDER
BUTTERAMI LK


61


31 .074


4.461 .459


3


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


2.975,717


31.074


4.599,624


OF FACTORIES


35,617


4,220,519


SINCE SOME


26, 1934.


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

JANUARY 1934


I


( I 1


I I








PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS DECEMBER

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 PREVIOUS YEAR PREVIOUS ONTH
___FIRMs* DEC. 1333 DEC. 1332 FIRMS* DEC. 1933 Nov. 1933

WHOLE MILK 18 1,247857 _438.448 21 1 ,291,02 1,225,278

SKIM MILK. 105 20,2,5,519 16,132,760 126 22.259,910 18,936,711

PART SKIM 2 139-855 27,573 2 18,855 86,352


CREAM POWDER

BUTTERMI LK


l.9
59


.. .L -475 .0
2,P03,856 I 2,584,721


27

73


S,475

2,397,304


1,614

2,276,13s.


REPORTS INDICATE THAT DECEMBER PRODUCTION WA3 PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 11.44` BARRELS 74.401, CAFES 14.16I
DRY SKIM MILK:' "38.766(3,641,690 LBS) 51.24(13,S54,668 LS.)
DRY BUTTERMILK: 9 3.53' (2,726 335 Ls) 6.47o( 1I8,569 LS.)
PRODUCTION DY SKIM MI LK Nove'FER, 1933 (.INCLUDING LATE REPORTS INDICATE:
BAGS 7,014 041 L9S, (36.483); BARRELS 12,214,895 LBS. (63.52/);
TOTAL 19,228,938 POUNDS.
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.


.i ';


EXPORTS AND IMPORTS OF DR'


EXPORTS TO
NORTH AMERICA
HONDURAS
MEX I CO
NETHERLAND W. IN
PANAMA
SOUTH AMERICA
BRAZIL
COLOMBIA
VENEZUELA
ASIA
NETHERLAND EAST
JAPAN
OCEANIA
PHILIPPINE IS.
nOTHR IOINTRIES


EXPORTS


DIES


POUNDS

6,369
8,759
4,252
8,890

27,022
10,311
I 1 183

5,150
30,125

14,746
-. nf7,q


INDIES


' MILK DURING DECEMBER 1933


IMPORTS FROM
NORTH AMERICA
CANADA


POUNDS

23,550


TOTAL DECEMBER 19 5161,846 8 TOTAL DECEMBER 1933 23,550
TOTAL DECEMBER 1932 225,346 TOTAL DECEMBER 1932 52,508
JAN. DEC. ITNC. 1933 *2,450,332 JAN. DEC. INC.) 1933 557,942
JAN. DEC. INC.) 132 3576,515 JA. DEC. (INC.1 L'32 583,185


CASEIN IMPORTS DECEMBER
CASEIN IMPORTS JAN. DEC. (INC.)


!933
5S,121 LBS.
0,141,598 Les.


.1332
85,537 LBS.
1,201,014 LBS.


DRY MILK FOR FEED 'IN GOOD DEMAND


DRY .ILK MARKETS A:PE-'EAR SLIGHTLY
IRREGULAR THIS MONTH, AS INDICATED DY
REPORTS REACHING THE U.S. BUREAU OF
AGRICULTURAL ECONOMICS.. ROLLER PROCESS
AND OTHER GOODS FOR FEED PURPOSESS HAVE
HELD A FAIRLY GOOD POSITION, WHILE DEMAND
FOR BEST SPRAY GOODS HAS BEEN ONLY FAIR,
WITH SOME TENDENCY FOR PRICES TO WORK
LOWER. BUYING BY FEED DEALERS IS SAID
TO BE FAIRLY ACTIVE, WITH THE APPROACH-
ING BABY CHICK SEASON POSSIBLY AN
INFLUENCE. HTCHINGS OF BABY CHICKS IN
DECEMBER WAS 56 PER CENT GREATER THAN IN
1932, WITH INCREASES OF OVER 200 PER
CENT IN THE NORTHEASTERN STATES WHERE THE
BULK OF THE HATCHINGS AT THIS TIME OF
THE YEAR TAKE PLACE, PRINCIPAI_LY FOR
EARLY BROILER TRADE. TOTAL DECEMBER
SALES OF DRY SKIM WERE NOT QUITE EQUAL TO
NOVEMBER, AND THE AVERAGE PRICE WAS JUST
SLIGHTLY BELOW THE NOVEMBER AVERkGE,
ALTHOUGH A FULL 2 CENTS ABOVE DECEMBER,
1932. THE VOLUME OF DRY BUTTERMILK
SALES EXCEEDED THAT OF NOVEMBER, AT
PRICES AVERAGING APPROXIMATELY I CENT
LOWER.

PRODUCTION CONTI;iUEC WELL ABOVE
THAT OF A YEAR AGO, THE DECEMBER OUTPUT


, 9889 6O90 9Z9tl 1


OF CRY 3KIM BEING 26 PER CENT ABOVE A
YEAR EARLIER, DRY BUTTERMILK 8.5 PER
CENT HIGHER, AND DRY WH.LF ALMOST THREE
TIMES AS GREAT. AS IS USUAL, DECEMBER
PRODUCTION EXCEEDED NOVEMBER. ON THE
BASIS OF AVERAGE DAILY REQUIREMENTS
DURING THE PAST YEAR, JANUARY I STOCKS
OF DRY SK'IM R PRESENTED A 35 DAYS'
SUPPLY COMPARED WITH A 26 DAYS' SUPPLY
A MONTH EARLIER, AND A 21 DAYS 'SUPPLY
ON HAND DECEMBER I, 1932. THUS, STOCKS
ARE AMPLE, ALTHOUGH NOT PARTICULARLY
BURDENSOME AS YET. IN GENERAL, THE
MARKET ON GOODS FOR FEEDING MAY BE
DESCRIBED AS FAIRLY ACTIVE AND FIRM,
WHILE THE MARKET FOR OTHER OUTLETS IS
EASY, WITH TRADING INCLINED TO BE
DULL.
THE CASEIN MARKET HAS EXPERIENCED
SUBSTANTIAL PRICE DECLINES SINCE A
MONTH AGO.' BOTH OFFEF:INGS AND
DEMAND ARE LIGHT. CARLOTS ARE
AVAILABLE AT EASTERN MARKETS AT
I I TO I2 CENTS ON 30 MESH, L2 TO 122
CENTS ON 70 MESH, AND 122 n o 13
CENTS ON 100 MESH.


JANUARY 1934


--


.


IMPORTS









FEBRUARY 28, 1934.


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


WASHINGTON, D, C.


DRY MILK MARKET REPORT FOR FEBRUARY 1934
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
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 SKIM MILK D RY 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.
3 30 1 ,651,834 t1 I 13,677 3 -,3- 7,275
31 4 2,462,207 136,155 I 2 25,295 3 4 1,921,165
4 42 5,105,164 309,335 3 129,050 4- 5 1,374,379
41 5 1,270,979 9,400 13 14 182,195 5 649,485 16,300
5 5- 319,502 757,973 14 5- 383,797 6- 7 131,150
51 6 12,300 2,134,411 15- 45,473 7 8 17,260
6 1- 54,750 1,314,332 6 17 10,334
6, 7- 4,178,151 17 8; 361
7 2,781,215
71 8 57,736
8 8 3,285
TOTAL 10,876,736 11,681,993 790,182 3,352,304 164,710
GRAND TOTAL 22,558,729 790,182 3,517,014
AVERAQE PRICE JAN. 1934 5.250 14.34- 4.320
DEC. 1933 6.150 14.35 4.470
JAN. 1933 3.930 14.35i 3.380


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
MILK (I LB. CANS) 36.60 PER POUND.


AG FOLLOWS:


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


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
4.5 6
3.4 6
4.5 6
3.3 6
3.65 6
3 4.5


BBLS.
6.9 9.25
6 9.25
5.87 9.25
5.82 8
6.65 8
7 -8


KANSAS CITY
SEATTLE
PORTLAND
: Los ANGELES
i SAN FRANCISCO


BAGS

3.75 5.5

3 4


BSLS.
7 8


5.64 -
6.75 -
3.9 -
6.75 -


7.75
7.75
8
7.75


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 DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF FEBRUmRY 1, 1934
DRY MILK IN BAG IN BARRESTOTAL POUNDS(A)FIRMS
POUNDS (POUNDS TOTAL POUNDS) FIRMS*
WHOLE MILK 5,460 2,086,826 2,675,745 18
SKIM MILK 9,016,606 17,265,571 26,282,627** 135 ,1
PART SKIM 0 55,308 55,308 2 u-
CREAM POWDER 0 27,044 27,044 4 0
BUTTERMILK 4,167,519 207,852 4,375,371 78 -
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 583,459
POUNDS; SKIM MILK 450 POUNDS.
**EQUIVALENT TO 35 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
35 DAYS' REQUIREMENTS; IN COMPARISON WITH 35 DAYS ON JANUARY I,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
FEBRUARY I, 1933 WERE THE EQUIVALENT OF A 20 DAYS' SUPPLY,

_OMPARISGN OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TO-TAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
CLASSES OF
CLASSES OF PREVIOUS YEAR PREVIOUS MONTH
DRY MILK
FIRMS* FEB. 1,1934 FEB. 1,1933 FIRMS* FEB. 1,1934 JAN. 1,1934
WHOLE ,;ILK 15 2,629,125 2,058,500 18 2,675,745 2,887 124
SKIM MILK 113 25,347,051 14,030,581 132 26,172,142 26,691,868
PART SKIM 2 55,308 21,760- 2 55,308 56,336
CREAM POWDER 3 26,426 549 4 __ 27,044 32,085
BUTTERMILK 60 4,228,914 3,375,697 75 4,361 729 4,628,797
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

(OVER)


FEBRUARY 1934








PAGE 2
PRCDUCTICN OF DRY MILK REPORTED BY-MANUFACTURERS JANUARY

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* JAN. 1534 JAN. 1933 FIRMS* JAN. 1934 DEC. 1933

WHOLE VILK 18 1,137,854 320,388 21 1,2C3,949 1,291,586

SKIM MILK 112 20,221 681 17,750,736 131 21,445,440 22,274,164

PART SKIM 2 628377 3,414 2 62,877 18,855

CREW, PGWDER 2 285 539 3 1,128 2,005

BUTTERMILK 61 3,064,189 3,330420 77. 3,198,081- 2,966,174
REPORTS INDICATE THAT JANUARY PRODUCT N WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 6.671" BARRELS 83.611, CASE 9.72%.
DRY SKIM MILK: 40.66(8,835,151 LeS) 59.34 (12,391,889 LBS.
DRY BUTTERMILK: 95.52,o(3,069,501 LZs) 4.48,( 14 ,942 LBS.)
PRODUCTION DRY SKIM MILK DECEMBER, 1933 (INCLUDING LATE REPORTS) INDICATE:
BAGS 8, 23 904 Lss. (39.13 ); BARRELS 13,738,258 LBS. (60. 75);
TOTAL .2,508,162 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 JANUARY 1934

EXPORTS IMPORTS
EXPORTS TO POUNDS IMPORTS FROM POUNDS
EUROPE EUROPE
NETHERLANDS 72,900 GERMANY 47
UNITED KINGDOM 97,500
NORTH AMERICA
HONDURAS 5,829
MEXICO 28,099
PANAMA 17,596
SOUTH AMERICA
ARGENTINA 16,333
COLOMBIA 7,630
VENEZUELA II,059
ASIA
CHINA 24,344
HONG KONG 4,818
OCEANIA
PHILIPPINE IS. 25,570
OTHER COUNTRIES 39,192
TOTAL JANUARY 1934 350,870 TOTAL JANUARY 1934 47
TOTAL JANUARY 1933 t82,714 TOTAL JANUARY 1933 36,937


CASEIN IMPORTS JANUARY

ACTIVE MARKET ON SKIM MI


1934
50,333 LOS.


1933
95,834 LBS.


LK FOR ANIMAL FEEDING PRICES ADVANCE SLIGHTLY


THE DRY MILK MARKET IN FEBRUARY
WAS FIRM ON ROLLER PROCESS POWDER FOR
ANIMAL FEED, STEADY ON SPRAY, AND
SLIGHTLY EASIER ON ROLLER PROCESS 'OR
HUMAN CONSUMPTION. PRICES WHICH IN
JANUARY EASED OFF SOMEWHAT FROM THOSE
REPORTED FOR DECEMBER, AGAIN SHOWED AN
UPWARD TENDENCY, PARTICULARLY ON SKIM
MILK POWDER FOR ANIMAL FEEDING WHICH WAS
REPORTED TO BE IN VERY ACTIVE DEMAND.
BUYERS OF THIS TYPE OF MILK POWDER ARE
APPARENTLY STOCKING UP IN-THE BELIEF
THAT THE NEXT MONTH OR SO WILL SEE THE
DEVELOPMENT OF A GOOD OUTLET THROUGH
POULTRY PRODUCERS AND OTHERS. TRADING
WAS ONLY FAIR ON GOODS FOR HUMAN
CONSUMPTION, BUT MANY DEALERS ANTICIPATE
SOME IMPROVEMENT IN THIS QUARTER AS THE
SPRING SEASON OPENS UP.

FROM THE SUPPLY SIDE, THE MARKET
ON FEBRUARY I WAS IN JUST ABOUT THE SAME
POSITION AS IT WAS A MONTH EARLIER,
ALTHOUGH SINCE THEN STOCKS IN THE HANDS
OF MANUFACTURERS ARE REPORTED TO HAVE
UNDERGONE SOME REDUCTION. ON THE BASIS
OF 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 35 DAYS
REQUIREMENTS. THIS WAS EXACTLY THE SAME
AS THE 35 DAYS SUPPLY ON HAND JANUARY I
BUT 75 PER CENT LARGER THAN THE 20 DAYSI
SUPPLY OF FEBRUARY I, 1933. SUPPLIES OF
OTHER POWDERED PRODUCTS WERE ALSO LARGER
THAN THOSE OF A YEAR AGO, BUT NOT GREATLY
DIFFERENT FROM THOSE OF JANUARY I.

PRODUCTION IN JANUARY WAS LIKEWISE
LARGER THAN A YEAR EARLIER, THE PRINCIPAL
EXCEPTION BEING POWDERED BUTTERMILK WITH
AN 8.0 PER CENT DECLINE. SINCE AUGUST
THE OUTPUT OF POWDERED WHOLE MILK HAS
SHOWN A VERY MARKED INCREASE OVER THAT OF


THE frAME PERIOD A YVAR EARLIER. JANUARY
WAS !O EXCEPTION, WITH AN INCREASE OF
255.1 PER CENT. THE PRODUCTION OF SKIM
MILK POWDER HAS ALSO BEEN RUNNING LARGER
FOR SOME TIME AND IN JANUARY THE
INCREASE WAS 13.9 PER CENT. PART SKIM
MILK POWDER, USED PRINCIPALLY IN
SPECIALLY PREPARED BABY FOODS, WAS ALSO
CONSIDERABLY IN EXCESS OF THE PRODUCTION
OF JANUARY, 1933, 3UT POWDERED CREAM WAS
SUBSTANTIALLY LESS.

TO'OFFSET THE ABOVE NOTED INCREASE
IN PRODUCTION WAS AN INCREASE IN SALES.
TOTAL SALES OF POWDERED SKIM MILK IN
JANUARY AS REPORTED TO THE'BUREAU EQUALLED
22,558,727 POUNDS, AN INCREASE OF ABOUT
38 PER CENT OVER THE SALES REPORTED IN
DECEMBER AND ALSO IN JANUARY, 1933.
SALES OF DRY WHOLE MILK AND DRY BUTTER-
MILK LIKEWISE SHOWED SUBSTANTIAL INCREASES
IN COMPARISON WITH BOTH MONTHS. SUCH
INCREASES IN SALES WERE JUST ABOUT
SUFFICIENT TO ABSORB THE HEAVIER PRO-
DUCTION, SO THAT THE STOCKS PREVIOUSLY
REPORTED AS OF JANUARY I WERE LEFT
:"'.PACTICALLY UNCHANGED.

THE CASEIN MARKET IN JANUARY WAS
SOMEWHAT STEADIER THAN IN DECEMBER,
ALTHOUGH THE VOLUME OF TRADING CONTINUED
TO BE MODERATE. OUTLETS AT THE PRESENT
TIME APPEAR TO BE LIMITED, WITH PAPER
COATERS BEING PRINCIPAL BUYERS.
INSECTICIDE MANUFACTURERS WERE REPORTED
TO BE BUYING SOME, BUT MOSTLY IN SMALL
LOTS. CARLOT SALES ARE RARE. PRICES
,',;E LIGHTLY HIGHER THAN A MONTH AGO,
WITH DEALERS REPORTING CARLOTS
AVAILABLE AT EASTERN MARKETS AT I24 TO
13,CENTS FOR 20 TO 30 MESH;
124 TO 134 CENTS FOR 70 MESH;
AND 13- TO 14 CENTS FOR 100
MESH.


FEBRUARY 1934


lOLO 6~ L90 9I1,S3
voiO :I 0 o.L AiiSa3AINn








MARCH 29, 1934,


UNITED STATES DA4 fTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY MILK MARKET REPORT FOR MARCH 1934


WASHINGTON, D.C.


MANUFACTURERS' WHOLESALE SELLING PRICES DURING FEBRUARY
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 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.
3 3 790,305 I-- 12. 44,4193 4 1,342,286 -
3 4 2,680,460 299,100 12- 13 433,629 4 5 2,242,028 48,738
4 4- 7,276,621 34,025 13- 14- 241,075 5 6 77,016 95,255
4 5 528,998 4 372752 112245
5 5 1,8,287 .1,057,278 5 16 27,105 7 6,705
5i 6 71,044 2,996,266
6 6- 42,880 2,327,083
6 7 4,395,484
7 7 1,171,481
7 8 96,625
TOTAL 12,508,595 12,377,342 1,118,980 -3,661,330 262,943
GRAND TOTAL 24,885,937 1,118,980 3,924,273
AVERAGE PRICE FEB. 1934 5;180 13.644 4.530
JAN. 1934 5.250 14.340 4.320
"" FEB. 1933 3.85 1- 14. 10 3.130


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
MILK (I LB. CANS) 36.22t PER POUND.

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


BOSTON
NEW YORK
PHILADELPHIA
CHJCAGO
CLEVELAND
ST. LOUIS


BAGS
4.5- 6
3.75 6
4.75 6
4 -6.5
3.6 .6
4 -4.5


DRY SXIM MILK
(CENTS PER LB.)
BBLS.
6.5 -8 KANSAS CITY
5.394 8 SEATTLE
5 8 PORTLAND
5.5 8 Los ANGELES
6.185 8 SAN FRANCISCO
7 7.5 5-


BAGS BBLS.
7 ---7.5
3.75 5 5.12 6.86
6.75 6.86
4 3.9 8
4 5 -7.1


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

TOTAL STOCKS ON HAND
CLASSES OF MARCH I, 19.34
DRY MILK IN BAG IN BARRE POUS() MS
(ouNoTAPOUNDS POSTAL POUNDS(A) FIRMS
WHOLE MILK 24,935 1,596,113 2,259,032 18
SKIM MILK 5,154,111 17,307,369 22,494,640** 131
PART SKIM 0 58,588 107,155 3
CREAM POWDER 0 21,769 21,769 4
BUTTERMILK 3,882,140 172,640 4,054,780 .76
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 637,984
POUNDS; SKIM MILK 33 160 POUNDS' PART SKIM 48,567 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 ECONOMICS, STOCKS
OF DRY SKIM MILK ON MARCH 1, WERE EQUAL TO APPROXIMATELY 29
DAYS' REQUIREMENTS; IN COMPARISON WITH 35 DAYS ON FEBRUARY 1,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
MARCH I, 1933 WERE THE EQUIVALENT OF A 19 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 FIRMS* MAR. 1,1934 MAR. 1,1933 FIRMS* MAR. I, 1934 FEB. 1,934

WHOLE MILK 16 2,090,282 1,560,388 18 2,259,032 2,792,396
SKIM MILK 109 21,493,887 13,772,019 129 22,406,807 26,396,343
PART SKIM 3 107,155 103,768 3 107,155 91,838
CREAM POWDER 4 21,769 4,966 4 21,769 26,426
BUTTERMILK 58 3,891,361 3,483,502 73 4,020,480 4,347,929


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

MARCH 1934


OF FACTORIES SINCE SOME

UNIV. OF FL Li.


DOCUM..ENTP DPT.


U.S. DEPOOTORY







PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS FEBRUARY


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


COMPARISON OF PRODUCTION


POUNDSS) FOR SAME FIR S


CLASSES OF
DRY MILK


PREVIOUS YEAR PREVIOUS MONTH


FIRMS*


FEB. 1934


FEB. 1933


FI RM\S*


FEB. 1934


,IAN. 1934


WHOLE MILK 15 677-,480 488,908 17 840,668 1,250,454
SKIM MILK 108 IPL,G76.745. 1.6,057,825. 126 19,998,703 21 ,646,663

PART SKIM 3 84.270 6.010. 3 84,270 74,349
CREAM PONDER 3 100 5,596 3 !00 265

BUTTERMILK 57 32753 3,119.990 76 3,556,549 3,209,119
REPORTS INDICATE THAT FEBRUARY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 7.644" BARRELS 77.16, CASES 15.20.
DRY SKI.M M.ILK: 1 45.38t 9,030,400 LBS 54.62% 10,939,341 LBS) I 51 LBS.
DRY BUTTERMILK: 93.68 33,357,826 LBS) S .32 ( 22 ,423 LBS)
PRODUCTION DRY SKIM MILK JANUARY, 1934 INCLUDING LATE REPORTS) IN ICATE:
BAGS 8,835 151 Le8. (40.57%);. BARRELS 12,942,289 LBS. (59.43);.
TOTAL 21,777,440 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 1934

EXPORTS IMPORTS
EXPORTS TO POUNDS IMPORTS FROM POUNDS
EUROPE EUROPE
SPAIN 7,120 UNITED KINGDOM 324
NORTH AMERICA
GUATEMALA 4,140
MEXICO 9,287
NETHERLAND W. INDIES 4,178
PANAMA 6,516
SOUTH AMERICA..
BRAZIL 7,920
COLOMBIA 4,345
VENEZUELA 17,755
ASIA
STAM 5,507
OCEANIA
PHILIPPINE IS. 35,093
OTHER COUNTRIES 28,105
TOTAL FEBRUARY 1934 129,966 TOTAL FEBRUARY 1934 324
TOTAL- FEBRUARY 1933 178,656 TOTAL FEBRUARY 1933 20,510
JAN. FEB. (INC.) 1934 480,836 JAN. FEB. (INC.) 1934 371
JAN. FEB. (INC.) 1933 361,370 JAN. FEB. (INC.) 1933 57,447


CASEIN IMPORTS FEBRUARY ..
CASEIN IMPORTS JAN. FEB.


.(INC.)...........
(INC.) ..........


1934
52,586
102,924


LBS.
LBS.
LBS,


1933
40,092 LBS.
13C,926 LBS.


DRY MILK MARKETS GENERALLY STEADY THROUGHOUT THE EARLY PART OF MARCH


SOME IRREGULARITY


TOWARD THE CLOSE


THE DRY MILK MARKETS IN MARCH WERE
GENERALLY STEADY, ALTHOUGH A SLIGHT
IRREGULARITY WAS NOTED IN SOME QUARTERS
TOWARD THE CLOSE ON SPRAY SKIM POWDER*
DRY WHOLE MILK RULED FIRM, LARGELY
BECAUSE OF ADVANCING BUTTERFAT PRICES.
THE HOT ROLLER MARKET HELD STEADY,
ALTHOUGH NOT QUITE AS ACTIVE AS IN LATE
FEBRUARY AND EARLY MARCH. IT IS UNDER-
STOOD THAT A LARGE NUMBER OF CONTRACTS
MADE LAST DECEMBER FOR JANUARY, FEBRUARY
AND MARCH DELIVERY HAVE NOW BEEN
COMPLETED. THIS IS RESULTING IN MORE
SUPPLIES COMING *ON THE OPEN MARKET
SUBJECT TO THE GENERAL DEMAND.
STATISTICALLY, THE MARKET IN MARCH
WAS IN A MUCH BETTER POSITION THAN IT WAS
A MONTH EARLIER. SALES OF ALL CLASSES
INCREASED SUBSTANTIALLY IN FEBRUARY OVER
THOSE OF JANUARY, PRODUCTION-ON THE.WHOLE
HELD JUST ABOUT STEADY,.SO THAT MANU-
FACTURERS STOCKS SHOWED A HEALTHY
DECREASE. THE ONLY UNFAVORABLE ANGLE WAS
THE POSSIBILITY THAT A LARGE PART OF THE
HEAVY JANUARY AND FEBRUARY SALES MAY HAVE
REPRESENTED A BUILDING UP OF STOCKS IN
DISTRI-BUTING CHANNELS IN FEAR OF POSSIBLE
ADVANCES IN PRICES.
TOTAL SALES OF DRY SKIM POWDER
REPORTED FOR FEBRUARY AMOUNTED TO
24,885,937 POUNDS. THIS WAS SLIGHTLY
OVER 2,000,000 POUNDS LARGER THAN THE
HEAVY SALES REPORTED IN JANUARY. SALES
OF DRY WHOLE MILK WERE ALSO SUBSTANTIALLY
HEAVIER, INCREASING PROM 790,000 POUNDS
IN JANUARY TO 1,119,000 ROUNDS IN
FEBRUARY AND DRY BUTTERMILK FROM
3,517,000 POUNDS TO 3,924,000 POUNDS. THE
FEBRUARY SALES WERE ALSO MUCH HEAVIER
THAN THOSE OF A YEAR EARL-IER, IN THE CASE
OF DRY SKIM MILK BEING-ALMOST 50-.PER
CENT LARGER. THE AVERAGE SALES PRICES
REPORTED IN FEBRUARY CHANGED VERY-LITTLE


FROM JANUARY, BEING FRACTIONALLY LOWER
ON DRY SKIM AND DRY WHOLE MILK, AND
SLIGHTLY HIGHER ON DRY BUTTERMILK.
MARCH PRICES ARE REPORTED AS BEING
PRACTICALLY THE SAME AS THOSE OF
FEBRUARY EXCEPT ON DRY WHOLE MILK WHICH.
IS I TO I2 CENTS HIGHER.

PRODUCTION OF DRY MILK
PRODUCT'S IN FEBRUARY WAS LARGER THIS
YEAR ON-ALL EXCEPT CREAM POWDER. DRl'
WHOLE MILK INCREASED 38.6 PER CENT,
WHI-CH INCREASE WAS, HOWEVER, CONSIDER-
ABLY SMALLER THAN THE 255 PER CENT
INCREASE REPORTED IN JANUARY, SKIM MILK
.INCREASED 16.3 PER CENT, AND DRY BLTITER'-
MILK 6.7 PER CENT. THESE INCREASES IN
PRODUCTION, THOUGH, WERE NOT SUFFICIENT
TO TAKE CARE OF THE HEAVY INCREASES IN
SALES, SO THAT THE DEMAND ON MANU-
FACTURERS1 ACCUMULATED SUPPLIES WAS VERY
HEAVY. NET REDUCTIONS IN SUCH STOCKS
DURING FEBRUARY WERE LARGE, PARTICULARLY
IN THE-CASE OF DRY SKIM. ON THE BASIS
OF THE AVERAGE DAILY REQUIREMENTS FOR
THE PAST YEAR, STOCKS OF DRY SKIM MILK
ON MARCH I WERE EQUAL TO APPROXIMATELY
29 DAYS' SUPPLY COMPARED WITH 35 DAYS1
SUPPLY ON FEBRUARY I. THE MARCH I STOCK'
THIS'YEAR, HOWEVER, WERE ABOUT 50 PER
CENT GREATER THAN ON THE SAME DATE LAST
YEAR.
THE CASEIN MARKET IN MARCH WAS
JUST ABOUT STEADY. SUPPLIES WERE NOT
PARTICULARLY HEAVY, BUT ON THE OTHER
HAND TRADING WAS ONLY FAIR. CONSUMPTION
OUTLETS WERE FOR THE MOST PART LIMITED,
PARTICULARLY IN THE PAPER COATING
INDUSTRY WHICH IS REPORTED TO BE WORKING
ONLY ABOUT HALF TIME. QUOTATIONS ON
DOMESTIC CASEIN IN CARLOTS AT EASTERN
MARKETS, RANGE AROUND 12 TO 130 ON TO
30 MESH; 12 o TO 13g0 ON 7 MESH, AND 13
TO 14 CENTS ON 100 MESH.


B6L 6L9O0 Z9ZI

vI G ill Il AIISIBI I IN
VOIN0O7d '4 AIISNAINfl


l';








APRIL 28, 1934.


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

DRY MILK MARKET REPORT FOR APRIL 1934


WASHINGTON, D.C.


MANUFACTURERS' WHOLESALE SELLING PRICES DURING MARCH
THE WHOLESALE PRICES GIVEN BELOW ARE BASEO UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.0.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 BUTTERMILK
(BULK GOODsT) (BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
3 30 104,187 I -T 18,725 3 3- 4- 1,249,490 -
3 4 573,281 12 3-. 610,88 4 2,458,687 11,467
4 4 2,657,552 21,750 13 14 100,064 5 6 6,095 168,975
4- 5 4,462,108 14,500 14 15 284,365 6 7 1
5 5 1,402,995 1,497,033 15t- 6- 34,882 7- 8 10,523
5 6 6 198,531 2,931,538 16 7' 397
6 6- 27,852 4,816,949 17 18 3,400
6 7 45, 655 2,725,087
7 7 1,174,085
7 8 203,529
8 8 7,085
TOTAL 9,472,161 13,391,556 1,052,715 3,714,272 190,965
GRAND TOTAL 22,863,717 1,052,715 3,905,237
AVERAGE PRICE MAR; 1934 5;520 13.740 4.680
FEB. 1934 5.180 13.64 4.530
MAR. 1933 3.89 133.806 3.250


DRY WHOLE MIL




BOSTON
NEW YORK
PHILADELPHIA
CHicAGO
CLEVELAND
ST. Louis


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
LK (I LB. CANS) 36.330 PER POUND.
WHOLESALE SELLING PRICES F.0.B. DISTRIBUTING


BAGS
5.625-- 6
3.95 6
4.5 6
4.5 6
4.77 6
4 4.5


DRY SKIM MILK
(CENTS PER LB.)


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BBLS.
6.42 8
5 8
5.56 8
4.5 8
6.49 8
6.75 7.5


AS FOLLOWS;


POINTS MARCH


BAGS

4.62 6

3.98 4.5


BBLS..
7.5..
6 6.86
6.75 6.86
5.5 6.75
6.5 7.1


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDES ALL STOCKS IN PObS.ESTrON 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 IL 1934
DRY MILK -N BAG IN BARRELS UNDSS*
POUNDS (POUNDS) TOTAL POUNDS(A) FIRMS
WHOLE MILK 184 1$232.619 1,962,816 21
SKIM MILK 6,649,134 16,237,662 22,919,079** 129
PART SKIM 0 41,881 87,003 3
CREAM POWDER 0 17,483 17,483 4
BUTTERMILK 3,668,894 174,658 3.843,552 .75
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 730,013


POUNDS; SKIM MILK 32,283 POUNDS; PART SKIM 45,122 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 ECONOMICS, STOCKS
OF DRY SKIM MILK ON APRIL I, %ERE EQUAL TO APPROXIMATELY 29
DAYS' REQUIREMENTS, IN COMPARISON WITH 29 DAYS ON MARCH I,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
APRIL I, 1933 WERE THE EQUIVALENT OF AN 18 DAYSI SUPPLY.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS


-I-


TOTAL STOCKS (POUNDS ON HAND FOR SAME FIRMS REPORTING


FIRMS*


PREVIOUS YEAR


APR. 1,1934


APR. 1,1933


I I I I


WHOLF r MI K


SKIM MII K


I .948.791


I.424-016


I \ I u I I ,*II I -"-


22.473.045


12.748.344


PART SKIM 3 87,003 109,149
CREAM POWDER 4 117,483 4,515


BUTTERMILK


59


3,719,868


* FIGURES SHOWING NUMBER OF FIRMS DO NO
FIRMS OPERATE MORE THAN ONE FACTORY.


,58! ,705_
T REPRESEF


PREVIOUS MONTH
FIRMS* APR. 1,1934 MAR. 1,1934
21 1,962,816 2,265,250
128 22,914,679 22,158,395
3 87,003 107,155
4. 17,483 22512
74 .3,827,685 4.026,520
NT NUMBER OF FACTORIES SINCE SOME


* NOTICE: THE MAILING LIST FOR THIS REPORT WAS RECENTLY CIRCULARIZED. THIS
* IS THE LAST COPY WHICH WILL BE SENT TO YOUR ADDRESS, UNLESS THE CARD WHICH
SWAS PROVIDED IS RETURNED, OR WE ARE OTHERWISE ADVISED OF YOUR DESIRE TO HAVE
STHE REPORT CONTINUED.
^*++*++++++++****************************************************************
**************************


(OVER)

APRIL 1934


UNIV. OF- FL LIS.
DU(UMENTS DEPT.




U.S. DEPOITOf ?'


CLASSES OF
DRY MILK


--


-


-.L--.. 2






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 PREVIOUS YEAR PREVIOUS MONTH
DRY MILK
FIRMS* MAR, 1934 MAR. 1933 FIRMS* MAR. 1934 FEB. 1934
WHOLE MILK 17 1_,102,037 679,495 19 _1184,123 323,926
SKIM MILK 109 22,158,589 10,434,951 124 23,081,172 19,342,120
PART SKIM 3 45.541 20,635 3 45,541 84,270
CREAM POWDER 2 308 138 2 308 1,275
BUTTERMILK 57 4,132,663 3,792,919 74 4,293,731 3,516,539
REPORTS INDICATE THAT MARCH PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 0 18'o BARRELS 65.84% CASES 33.986
DRY SKIM MILK: 48.06( 1I,105,985 LOS) 51.92 I ,996,297 LA 0.02
DRY BUTTERMILK: 95.350( 4,099,869 LPS) 4.655( 199,895LBs)
PRODUCTION DRY SKIM MII..K FEBRUARY 1934 (INCLUDING LATE REPORTS) INDICATE:
BAGS 9 117,260 LBS. (45.34%); BARRELS 10,990,301 LBS. (54.66; CASES 51 LBs
TOTAL 20,107,612 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 1934

EXPORTS IMPORTS
EXPORTS TO POUNDS IMPORTS FROM POUNDS
EUROPE EUROPE
BELGIUM 33,600 UNITED KINGDOM 423
FRANCE 13,250
UNITED KINGDOM 57,950
NORTH AMERICA NORTH AMERICA
CUBA 9,229 CANADA 30
MEXICO 32,892
PANAMA 24,778
SOUTH AMERICA
ARGENTINA 16,000
VENEZUELA 14,627
ASIA
CHINA 9,635
JAPAN 10,380
OCEANIA
PHILIPPINE Is. 32,800
OTHER COUNTRIES 60,409
TOTAL MARCH 1934 315,550 TOTAL MARCH 1934 453
TOTAL MARCH 1933 *271 536 TOTAL MARCH 1933 *40,803
JAN. MAR. (INC. 1934__ 756,3835 JAN. MAR. (NC. 1934 824
JAN. MAR. (INC.) 1933 *-,-9- -JAN. M:R. (IC) 1933 *98,250


* REVISED.


CASEIN IMPORTS MARCH
CASEIN IMPORTS JAN. MAR.


1934
274,968 LBS.
377,832 LBS.


(INC.)


1933
50,770 LBS.
187,696 LBS.


APRIL DRY MILK MARKETS STEADY ON HOT ROLLER EASY AND IRREGULAR ON SPRAY


THE MARKET ON POWDERED SKIM MILK
IN APRIL WAS MOSTLY STEADY, ALTHOUGH
OCCASIONALLY THERE WERE SHORT PERIODS OF
IRREGULARITY WITH AN EASIER UNDERTONE,
PARTICULARLY ON SPRAY. THE DEMAND FOR
HOT ROLLER PROCESS WAS SLIGHTLY STRONGER
THAN FOk SPRAY, AND QUOTATIONS ON THE
FORMER ADVANCED 4 CENT WHILE THE LATTER
HELD PRACTICALLY UNCHANGED.

BUYING OF SPRAY PROCESS FOR ANIMAL
FEEDING IN RECENT WEEKS HAS BEEN OF A
SMALLER VOLUME THAN A MONTH OR SO AGO
WHEN STOCKS WERE ACCUMULATED IN SOME
QUARTERS AGAINST THE POSSIBILITY OF A
FURTHER ADVANCE IN PRICES. WITH
COMMODITIES IN GENERAL SHOWING LESS
STRENGTH THAN EARLIER IN THE YEAR, THE
RECENT TENDENCY HAS BEEN TO WITHHOLD ALL
EXCEPT THE MOST PRESSING COMMITMENTS
UNTIL A MORE DEFINITE IDEA COULD BE HAD
OF POSSIBLE FUTURE TRENDS. THIS HAS BEEN
REFLECTED IN THE ACTIVITIES OF THE DRY
MILK MARKETS AND THE HEAVY BUYERS OF A
SHORT TIME AGO ARE NOW CONTRACTING FOR
SUPPLIES ON A MORE CONSERVATIVE BASIS.
FUNDAMENTALLY, HOWEVER, THE SITUATION
DOES NOT SHOW ANY ALARMING WEAKNESS.
ALTHdUGH THE STOCKS OF DRY SKIM MILK IN
THE HANDS OF WHOLESALE DEALERS ARE
PROBABLY LARGE, OUTLETS HAVE BEEN
BROADENED THROUGH AN INCREASED DEMAND FOR
ANIMAL FEEDING, ESPECIALLY FROM THE
POULTRY INDUSTRY WHERE EGG PRICES ARE
GENERALLY MUCH HIGHER THAN A YEAR AGO.
THE DEMAND FOR SPRAY PROCESS FOR ANIMAL
FEEDING IS EXPECTED TO CONTINUE FAIRLY
STRONG FOR ANOTHER MONTH OR SO,

THE STATISTICAL POSITION OF THE
MARKET WITH REFERENCE TO CURRENT SUPPLIES
COIITINUES RELATIVELY FAVORABLE. STOCKS
OF ORY SKIM IN THE HANDS OF MANUFACTURERS
ON APRIL I AMOUNTED TO 22,919,000 POUNDS,
OR JUST ABOUT 400,000 POUNDS LARGER THAN
ON THE FIRST OF THE PRECEDING MONTH.
THESE STOCKS ARe CALCULATED AS REPRESENT-


t A 7L9 6O9L0 Z9lI

V01801 1Do Eisa3AINn


ING 2- DAYS' REnUIREMENT- PRACTICALLY
THE SAME AS ON M/IRCH I, BUT MUCH LARGER
THAN THE 18 DAYS' SUPPLY REPORTED ON
APRIL I, LAST YEAR. THEY WERE JUST
SLIGHTLY LESS THAN THE 32 DAYS' SUPPLY
REPORTED ON APRIL I, 1932, BUT A GREAT
DEAL SMALLER THAN THE 57 DAYS' SUPPLY
OF 1931. STOCKS OF OTHER POWDERED MILK
PRODUCTS, SUCH AS WHOLE MILK, PART SKIM
MILK, CREAM POWDER, AND BUTTERMILK,
HOWEVER, WERE SMALLER THAN ON MARCH I,
BUT THOSE OF WHOLE'MILK, CREAM POWDER, /
AND BUTTERMILK WERE LARGER THAN ON
APRIL I, LAST YEAR.

THE LAST FIGURES ON THE PRODiUCT1O
OF DRY MILK, WHICH COVER THE MONTH OF
MA.;CH, INDICATE A MUCH HIGHER LEVEL THAN
A YEAR AGO. PRODUCTION OF DRY WHOLE
MILK WAS 62.0 PER; CENT LARGER THAN IN
MARCH, LAST YEAR, DRY SKIM MILK 20 PER
CENT, AND DRY BUTTERMILK 9.0 PER CENT.
THE PRODUCTION OF PART SKIM MILK WAS
ALSO SUBSTANTIALLY LARGER, BUT THAT OF
POWDERED CREAM WAS LESS. THESE INCREASES
IN GENERAL FOLLOW THE TREND OF PRODUCTION
FOR THOSE COMMODITIES IN THE PRECEDING
MONTHS OF THIS YEAR*

CASEIN MARKETS IN APRIL WERE
REPORTED AS BEING QUITE STEADY GENERALLY,
WITH SOME OCCASIONAL SOFT SPOTS. PRO-
DUCTION WAS NOT-PARTICULARLY HEAVY,
WHILE ALL OFFERINGS FOUND BUYERS AT UN-
CHANGED PRICES. SOME BUYERS WERE STILL
HESITANT IN BUYING LARGE LOTS WHILE
OTHERS WERE WILLING TO MAKE GOOD SIZED
COMMITMENTS AT CURRENT PRICES. CARLOT
SALES OF DOMESTIC CASEIN ON EASTERN
MARKETS WERE GENERALLY QUOTED AT 12 JO
13 CENTS ON 20 TO 30 MESH; 12 TO 13:
CENTS ON 70 MESH, AND 13 TO 14 CENTS
ON 100 MESH. ARGENTINE CAPEIN, CIF
NEW YORK, WAS QUOTED AT 82 CENTS.


APRIL 1934










MAY 29, 1934.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY MILK MARKET REPORT FOR MAY 1934


WASHINGTON, D.C.


MANUFACTURERS' WHOLESALE SELLING PRICES DURING APRIL
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 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) (BULKGOODS
REPORTEDES REPORTED EPTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
32k 4 350,637 II 120 2,857 3 4 863,253 -
4- 4- 2,890,829 12 3 48,445 4 5 1,970,851 33,439
4 5 6,044,519 619,475 13 14 378,014 5 6 49,547
5 5' 1,207,580 1,038,321 14 5 7193 6 7 120,567
5; 6 180,785 2,651,440 15 16 7,507 4,200
6 6 429,010 1,301,959 61 17 29,465
S 7 200 5,658,124 17 18 3,256
7 71 978,725
72 8 321,793
8 8 1,400
TOTAL 11,103,560 12,571,237 840,637 2,834,104 207,753
GRAND TOTAL 23,674,797 840,637 3,041,857
AVERAGE PRICE APR. 1934 5.470 14.190 4.810
MAR. 1934 5.520 13.74I 4.680
APR. 1933 4.02k 13.660 3.670


WHOLESALE PRICES REPORTED ON CASE GOODS
DRY WHOLE MILK (I LB. CANS) 34.150 PER POUND.


WHOLESALE SELLING PRICES F.O.B. DISTRIBUTING


WERE AS FOLLOWS:


POINTS APRIL


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
5 -6
4.5 7
5.21 6
4.3 6,75
4.62 6
4.25 4.5


.DRY SKIM MILK
(CENTS PER LB.)


BBLS.
5.94 8
5.9 8
5.62 8
5 8
6.5 8
7 7.5


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

4.41 5.5
4.41
3.98 4.5
4.3


BBLS.

5.75 6.86
6.75 6.86
4.5 8.5
6.75 7.1


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.

TOTAL STOCKS ON HAND
CLASSES OF MAY I, 1934
DRY MILK IN BAGS IN BARRELS TOTAL POUNDS(A) FIRMS
(POUNDS) (POUNDS) _____
WHOLE MILK 55,099 999,346 1,849,758 18
SKIM MILK 7,947,797 17,725,003 25,712,002** 129
PART SKIM 0 45,279 86,624 3
CREAM POWDER 0 8,483 8,483 3
BUTTERMILK 4,677,752 211,887 4,889,639 81
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 795,313
POUNDS; SKIM MILK 39 202 POUNDS; PART SKIM 41,345 POUNDS.
**EQUIVALENT TO 33 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 33
DAYS' REQUIREMENTS, IN COMPARISON WITH 29 DAYS ON.APRIL I,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
MAY I, 1933 WERE THE EQUIVALENT OF A 15 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
_____ M FIRMS* MAY 1 1934 MAY I 1933 FIRMS* MAY I, 1934 1APR.I,1934
WHOLE MILK 16 1,842,875 1,547,056 18 1,849,758 1,962,593
SKIM MILK 106 24,781,325 10,576,394 125 25,608,017 22,641,470
PART SKIM 3 86,624 102,436 3 86,624 87,003
CREAM POWDER 2 8,483 130 3 8,483 17,483
BUTTERMILK 62 4.684,912 1,676,867 79 4,839,339 3,877,667


* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT
FIRMS OPERATE MORE THAN ONE FACTORY.
(oVER)
MAY 1934


NUMBER OF FACTORIES SINCE SOME


U.S. DEPOITORY


I






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 PREVIOUS YEAR PREVIOUS MONTH
DRY MILK
FIRMS* APR. 1934 APR. 1933 FIRMs* APR. 1934 MAR. 1934
WHOLE VILK 14 949,817 744,619 14 949,817 1,182,037
SKIM MILK 102 23,217,248 19,910,895 121 25.040,413 23,332,632
PART SKIM 2 84,953 -10,980 2 84,953 45 541
CREAM POWDER 2 0 0 2 0 308
BUTTERMILK 60 3;541,098. 3,981,139 79 3,775,221 4,343,394
REPORTS INDICATE THAT APRIL PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 3.42 BARRELS 51.40% CASES 45.18d
DRY SKIM MILK: 48.14(12,164,930 LBS) 51.8 ,(13,090,141 Las) 0.c~
DRY BUTTERMILK: 94.01( 3,577,865 LBS) 5.992( 228,156 LBS)
PRODUCTION DRY SKIM MILK MARCH 1934 (INCLUDING LATE REPORTS) INDICATE:
BAGS 11 16c.950 LBS.. (47.43%); BARRELS 12,376,947 LBS. (52.55%); CASES 0.02%,
TOTAL 23,551,087 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 DURINGAPRIL 1934

EXPORTS IMPORTS
EXPORTS TO POUNDS IMPORTS FROM POUNDS
EUROPE EUROPE
NETHERLANDS 36,'000 UNITED KINGDOM 162
UNITED KINGDOM 15,100
NORTH AMERICA
HONDURAS 7,984
MEXICO 36,275
PANAMA 18,757
SOUTH AMERICA
ARGENTINA 48,000
COLOMBIA 8,406
VENEZUELA 38,528
ASIA
-CHINA 32,986
HONG KONG 6,110
OCEANIA
PHILIPPIN: Is. 25,075
OTHER COUNTRIES 42,599
TOTAL APRIL 1934 315,820 TOTAL APRIL 1934 162
TOTAL APRIL 1933 247,557 TOTAL APRIL 1933 19,982
JAN. APR. (INC.) 1934 1,112,206 JAN. APR. (INC.) 1934 986
JAN. APR. (INC.) 1933 880,463 JAN. APR. INC.) 1933 118,232


CASEIN IMPORTS APRIL
CASEIN IMPORTS JAN. APR.


(INC.)


1934
123,188 LBS.
501,080 LBS.


1933
81,962
269.,658


LBS.
LBS.


DRY MILK MARKETS IRREGULAR.- STEADY


TO FIRM ON SPRAY POWDER BUT NERVOUS


AND UNSETTLED ON ROLLER PROCESS


THE DRY MILK MARKETS I. MAY WERE
MOSTLY IRREGULAR. SPRAY SKIM POWDER WAS
GENERALLY REPORTED IN A FAIRLY STEADY TO
FIRM POSITION, WITH STOCKS NOT SO VERY
HEAVY, DEMAND FAIRLY GOOD, AND FULL
QUOTED PRICES EASY TO OBTAIN. ON THE
OTHER HAND, ROLLER SKIM POWDER WAS MOSTLY
EASY TO WEAK. PRODUCTION CONTINUED ON A
HIGHER SCALE THAN LAST YEAR, DEMAND WAS
MOSTLY UNSATISFACTORY, AND STOCKSSHOWED A
SLIGHT TENDENCY TO ACCUMULATE IN THE
HANDS OF MANUFACTURERS AND IN TRADE
CHANNELS. EITHER BUYERS HAVE ANTICIPATED
THEIR NEEDS' TO'A LARGE EXTENT AND ARE NOW
DRAWING ON SUPPLIES OBTAINED A FEW MONTHS
AGO, OR THE DEMAND FOR ANIMAL FEEDING,
PARTICULARLY BABY CHICKS, HAS NOT
MATERIALIZED ON THE SCALE SO HOPEFULLY
EXPECTED. ALTOGETHER THERE IS CONSIDER-
ABLE UNSETTLED SENTIMENT PRESENT, AND FOR
THE MOMENT A CAUTIOUS AND WATCHFUL POLICY
IS BEING OBSERVED. FEAR IS EXPRESSED IN
SOME QUARTERS THAT PRESENT PRICES MAY BE
LIMITING CONSUMPTION TO SOME DEGREE,
ALTHOUGH AS YLT THERE HAS BEEN NO GENERAL
MOVE TO LOWER QUOTATIONS.
THE AVERAGE PRICE OF ALL DRY SKIM
MILK REPORTED SOLD IN APRIL WA; FRACTION-
ALLY LOWER THAN THE AVERAGE PRICE IN
MARCH. THIS WAS DUE MOSTLY TO THE FACT
THAT THE SALES OF THE HIGHER PRICED SPRAY
POWDER WERE SMALLER THAN THOSE OC-THE
PRECEDING MONTH WHILE.SALES OF.ROLLER
PROCESS IN BAGS WERE LARGER. EVEN THOUGH
THE SALES OF POWDER IN BARRLES WERE MADE
AT A SLIGHTLY HIGHER QUOTATION THAN IN
MAiCH, THE INCREASED PROPORTION OF SALES
IN BAqS TO THF TOTAL SALES FOR THE MONTH
L3"'WEED THE AVFkAE PR I CE FROM 5.52 CENTS
PER POUND IN VAr, H 'TO 5.47 CENTS PER
POUND IN AP; AND DRY BUTTERIIL,<, HOWEV'E-, MOVED IN THE
UPWARD DIRECTION, QUOTATIONS ON DRY WHOLE-
MILK ADVANCING FROM 13.74 CENTS PER. 'POUND
IN MARCH TO 14.19 CENTS PER POUND IN.
APRIL AND DRY UTTERMILK -FROM 4.68 CENTS
TO 4.81 CENTS.
PRODUCTION OF DRY WHOLE MILK IN
Z699 6ZLO Z9Il

Va(OIOj dO A1ISs 3AINn


APRIL SHOWED A DECLINE OF 19.6 PER CENT
FROM THE VERY HEAVY PRODUCTION OF MARCH,
BUT WAS STILL 27.6 PER CENT HEAVIER THAN
IN APRIL LAST YEAR. PRODUCTION OF DRY
SKIM MILK, HOWEVER INCREASED 16.6 PER
ENT OVER THAT OF APRIL A YEAR AGO, AND
7.3 PER CENT OVER THE MARCH PRODUCTION.
TOTAL PRODUCTION OF THIS LATTER PRODUCT
N APRIL IS ESTIMATED TO HAVE BEEN ABOUT
2,000,000 POUNDS LARGER THAN IN MARCH.
TOTAL SALES REPORTED FOR APRIL, HOWEVER,
WERE ONLY ABOUT 800,000 POUNDS LARGER
THAN THOSE OF THE PRECEDING MONTH, THERE-
FORE LEAVING A CONSIDERABLE PART OF THE ,
MONTH'S PRODUCTION ON MANUFACTURERS'
SHELVES AS SURPLUS STOCK.
ON THE BASIS OF THE AVERAGE DAILY
REQUIREMENTS FOR THE PAST YEAR, CALCULATE
ED FROM DATA RECEIVED BY THIS BUREAU,
STOCKS OF 'DRY SKIM MILK ON MAY WERE
EQUAL TO APPROXIMATELY 33 DAYSt SUPPLY
THIS WAS A MODERATE INCREASE OVER THE
DAYS' SUPPLY ON APRIL I, AND A VERY SHARP
ADVANCE OVER THE 15 DAYS' SUPPLY ON HAND
MAY I, LAST YEAR. THESE STOCKS, HOWEVER,
WERE STILL CONSIDERABLY SMALLER THAN'THE
RECORD BREAKING STOCKS FOR MAY I OF 57
DAYS' SUPPLY IN /932. THE TENDENCY OF
DRY SKIM PRODUCTION TO RUN AHEAD OF
CURRENT CONSUMPTION, RESULTING IN A
FURTHER ACCUMULATION OF STOCKS ON PRO-
DUCERS AND DEALERS FLOORS IS CREATING A
SITUATION THAT IS LESS HEALTHY THAN A FEW
MONTHS AGO. SUPPLIES HAVE NOT AS YET
REACHED A BURDENSOME STAGE BUT FURTHER
ADDITIONS WILL UNDOUBTEDLY HAVE A DECIDED
WEAKENING EFFECT.
THE CASEIN. MARKETS CONTINUEE
REASONABLY FIRM.. PRODUCTION IS.LIGHT AND
STOCKS ARE N.O MORE THAN AMPLE. DEMAND IS
CONSIDERED GENERALLY FA4R, ALTHOUGH
SLIGHTLY IRREGULAR AT TIMES. VERY LITTLE
INTEREST FEDORTED IN CARLOT SALES, WITH
TRAD.ING.RCETRICTED MOSTLY TO SMALL JOBBING
BUSI NESS. "DEMAND FROM PAPER COASTERS HAS
DROPPED OFF SHARPLY, BUT THEPE HAS BEEN
SOME INCREASE FROM PAINT MANUFACT RERS.
PRICES QUOTED ON DOMESTIC CASEIN F.00I
ATLANTIC SEABOARD RANGE FROM I TO I2
ENTS N 30 MESH, AND 13 TO 14 CENTS ON
0 TO 00 MESH ARGENTINE CASEIN, C.1F,
USUALLY QUOTED.AT .AROUND 9 CENTS. VERY
LITTLE BEING IMPORTED AT THIS PRICE.









JUNE 28, 1934.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY MILK MARKET REPORT FOR JUNE 1934
MANUFACTURERS' 'WHOLESALE SELLING PRICES DURING MAY


WASHINGTON, D.C.


T!H: 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 BE IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD,
DRY SKIM MILK DRY WHOLE MILK DRY BUTTERMILK
_(ULKGOODS) BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRI CE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
3 3-0 23,487 13- 14-0 472,338 3- 4-0 1,605,264 -
3 4 1,654,687 24,700 14 15 284,712 4 5- 1,804,753 25,129
4 4- 2,310,336 41,140 15 1 6- 29,278
4- 5 4,028,161 249,545 I 17, 22,676 6 7 103,545
5 5 1,192,027 1,648,403 7 81 9,210
5; 6 204,118 3,378,023
6 6 384,735 3,281,228
S- 7 4,191,635
7 7- 1,316,112
72 8 496,021
8 8;3 9,400
TOTAL 9,797,551 14,636,207 779,726 3,410,017 187,162
GRAND TOTAL 24,433,758 779,726 3,577,179
AVERAGE PRICE MAY 1934 5.530 14.090 4.630
APR. 1934 5.47b 14.190 4.810
S MAY 1933 4.38 14.200 4.580


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
MILK (I LB. CANS) 35.950 PER POUND.
WHOLESALE SELLING PRICES F.O.B. DISTRIBUTING POINTS MAY
DRY SKIM MILK
(CENTS PER LB.)


BOSTON
NEW YORK
'HILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
4.75 6
4.5 7
6
4 6
4.42
4 6


S BLS.
6.17 8
5.193 8
5.93 8
4.5 8
6.173 7.5
6.5 8


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS.
6
4.41 5.875
3.98
4.33 4.5
4.5


BBLS.
6.5 8
5.75 7
5.947- 6.75
5.5 9
5.5 7.1


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.


BUTTERMILK


4,820,239


231,298


5.05'!537 76


AA) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK a04,613 POUNDS;
KIM MILK 33,926 POUNDS' PART SKIM 38,561 PCUNDS.
**EQUIVALENT TO 42 DAYSI 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 JUNE ', 'WERE EQUAL TO APPROXIMATELY 42 DAYS'
REQUIREMENTS, IN COMPARISON VITH 33 DAYS ON M.\Y I, 1934:
CALCULATED ON THE SAE BASIS' A YEAR AGO, STOCKS ON HAND JUNE 1,
1933 WERE THE EQUIVALENT OF A 15 DAYSt SUPPL\.

_COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS


CLASSES OF
DRY MILK


TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING


PREVIOUS YEAR


_____________ J


RIF Ms* JUE I 19 JN33


PREVIOUS MONTH


MAY I, 1934


RIF Ms* J UNE 1 1 934


WHOLE MILK 20 1,777,391 1,800,953 22 1,861,744 1,846,999
SKIM MILK 108 31,276,037 10,744,241 130 32,812,338 25,859,252
PART SKIM 3 129,946 95,928 3 129,946 86,624


M AERC POWDER


2


3.732


3,732


-. '4 4 1 4 1


RUITTFRMIIK


60


4.772.837


1.410.413


5.051,537


8 237


* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY. UI O .
UNIV. OF- FL LIS.
(OVER) OUM 8 P

JUNE 1934 *

U.S. DEPOTCTOWY


TOTAL STOCKS ON HAND
CLASSES OF JUNE I, 1934
DRY MILK IN BAGS IN BARRELS TOTAL POUNDS(A) FIRMS*
(POUNDS) (POUNDS)
'WHOLE MILK 108,086 949,045 1,861,744 22
SKIM MILK 11,429,262 21,400,850 32,874,038** 131
PART SKIM 0 91,385 129,946 3
CREAM POWDER 0 3,732 3,732 2


, ,
,


-I







PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS MAY


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STrATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSeS OF
DRY :ILK PREVIOUS YEAR PREVIOUS MONTH
___ FIRMS* MAY 1934 MAY 1933 FIRMS* MAY 1934 APR. 1934
lHOLE MILK I 1 1,036.127 1,232,222 19 1,136,127 959,817
SKIM MILK 105 27,845,186 24,940,887 127 30,155,010 25,192,103
PART SKIM 2 108,036 I1,010 2 108,036 84,953
CREAM POWDER 2 .0 178 2 0 0
BUTTERMILK _60 3,742,435 5,433,618 75 4,078,831 3,715,821
REPORTS INDICATE THAT MAY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 15.166 BARRELS 41.02. CA ES:43.82%
DRY SKIM MILK: I" 43.41 (13,120,917 LBS) 56.59%(17,107,702 LBS
DRY BUTTERMILK: 95.6.1( 3,899 877 LDS) 4.39.( 178,954 LBS
-PRODUCTION DRY SKIM MILK APRIL 1934 (INCLU ING LATE REPORTS) BAGS -.12 272.396 LBS.
(47.,78'e); BARRELS 13,399,056 LBS. (52.16),; CASES 0.06%, TOTAL 25,686,037 LBS.
*'FIGURES SHOWING- NUMBER--OF FIRMS- DO NOT REPRESENT -UMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY*
EXPORTS AND IMPORTS OF DRY MILK DURING MAY 1934


EXPORTS TO
EUROPE
ITALY
NORTH AMERICA
CANADA
CUBA
MEXICO
PANAMA
SOUTH AMERICA
COLOMBIA
VENEZUELA
ASIA
CHINA
HONG KONG
SIAM
OCEANIA
PHILIPPINE IS.


EXPORTS


POUNDS

2,010

3,209
3,570
22,594
31,608

12,109
11,110

59,354
11,102
5,712

38.951


.IMPORTS
IMPORTS FROM.
EUROPE
UNITED KINGDOM


POUNDS

711


OTHER COUNTRIES 23,584
TOTAL'- MAY 1934 224,913 TOTAL MAY 1934 711
TOTAL MAY 19333 192,411 TOTAL MAY 1933 70.596
JAN. AY INC.) 1934 1,337,119 JAN. MAY INC.) 1934 I,697
JAN. MAY (INC.) 1933 1,072,874 JAN. MAY (INC.) 1933 188t828,


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


1934
97,616 LBS.
598,696 LBS.


DRY MILK MARKETS EASY AND IRREGULAR CASEIN STEADY AND UNCHANGED


DRY MILK MARKETS WERE MOSTLY EASY
AND IRREGULAR DURING THE EARLY PART OF
JUNE, BUT A SLIGHTLY STEADIER TONE
DEVELOPED TOWARD THE CLOSE. STRENGTH WAS
ASCRIBED PRIMARILY TO CONTINUED UNFAVOR-
ABLE PRODUCTION CONDITIONS THROUGHOUT THE
CENT.,RAL 'JET. ALTHOUGH THIS AREA HAS TO
FOIVE.EXTENT BEEN RELi.EVED -OF THE CRITICAL
DROUGHT CONDITIONS OF A; MONTH AGO, THE
FLO',! OF MILK IN MA.,:Y EEC. lCS 13 .A3 YET
NO WHERE NEAR NORMAL ANr TH COU' LOOK FOR
THE E MA I NUER OF 'THE ,liU,;ii-:f- MCN'.HS IS
VERY UNCLRTA!N. I.N .*'-V.' OFr 1,- ;6 TU-
ATII'ON, THLEREFREE, D. \LEP.S H-,4'V- C EN
INCLINED TOL riOi- ST,.Cl. A 'L'. TL: MORE
CLOE FLY, ALTHOUGH T:,i iL DU:'.Li.i-N:.3G ,NEtRE NOT
SUCH AS 0 Cr.EATE A,4' F.L 'T DC'.': R: OF
OPTiMISM. SALES 0- C Y!- SKIll I. ',!'. FOR THE
MONTH'OF MAY AJ REPO ;TEC. TO THE U.S.
BU.-:EAU 0. ACRI C U..T; R.\L. :::"ONOMI CS WERE
ONLY ABOUT 300,000 POU!'-S HEAVIER THAN
THOSE OF APRIL. NRMALLY TiERE IS AN
INCREASE OF CETWEEl; TWO AND THREE MILLION
POUNDS. ALLE:..IN MAY WERE SMALLER THAN
..THOSE O.F MAY I N .Bq.THK -1:933 .AND 1932,. AND.
,ONLY SLIGHTLY ABOVE .THS3E OF 1931 It
'1S SAID THAT MANY ;'J.Y,ERS ARE .NOW DRAWING
UPON RESERVES .ACCUMULATED. EARLIER IN THE
SEASON WHEN THERE APPEARED TO'BE CONSIDER-
'ABLE PROBABILITY THAT PRICES WOULD GO
EVEN HIGHER THAN THEY HAVE. AT THE SAME
TIME, CONSUMPTION 'DEMAND 'HAS NOT
DEVELOPED THE STRENGTH THAT WAS GENERALLY
EXPECTED*
PIECES IN BOTH MAY AND JUNE HELD
RELATIVELY STABLE. THE AVERAGE PRICE ON
ALL SALES OF DRY SKIM MILK REPORTED TO
THE BUREAU FOR MAY WAS 5.53 CENTS PER
*POUND, FRACTIONALLY HIGHER THAN THE
AVERAGE PRICE FOR APRIL. THE AVERAGE
PRICES ON SALES OF DRY WHOLE MILK AND DRY
BUTTERMILK WERE SLIGHTLY LOWER. IN NO
CASE, HOWEVER, WAS THE CHANGE OF ANY
SIGNIFICANCE*
THE PRODUCTION OF DRY OR POWDERED
;MILK PRODUCTS IN MAY WAS SOMEWHAT


6tOIl 6L90 Z9Zll c

vaiiO do10 AIIS83AINn


IRREGULAR. DRY WHOLE MILK SHOWED A
DECREASE OF 15.9 PER CENT IN COMPARISON
WITH MAY LA':T YEAR, AND DRY BUTTERMILK
31.2 PER CENT. ON THE OTHER HAND THE
PRODUCTION OF DRY SKIM MILK WAS 11.6 PER
CENT LARGER. DUE TO THE DROUGHT AND
OTHER UNFA'.'RARLE FACTORS, NEITHER OF
THESE PRODUCTS SHOWED THE FULL SEASONAL
INCREASE !N PRODUClION OVER APRIL.
THE PRODUCTION OF DRY SKIM MILK
IN MAY WVASd .lc7 PiFR CENT LARGER THAN THAT
OF AmPRIL, SALFS, HOWEVER, S;-IDIED ONLY A
VERY F~3 RATE .CREAC`: AND AS A RESULT,
STOC MANUFACTIURERS TCCK< A \ERY CHARP RISE
DURING 1I-:E i.:N-. :! 0;1 THE 8A 1SS OF AVERAGE
DAILY REQUIREMENT' .S C'.LG UL.L.TED FROM
REPORTS OF THE !'REAUl, Ut OCKC OF DRY SKIM
MILK HELD BY ;,A,.;iu:A rURERS OiN JUNE I
AMOUNTED TO 42 D". ';' RE'JU I REMENTS. ON
MAY i, STOCKS L.C'ALLED 33 DAYS' REQUIRE-
MENTS, AND ON JULIE I, LAST YEAR, ONLY 15
DAYS. LAST YEAR'S UNE I SUPPLIES,
HOWEVER, WERE ABNORMALLY SMALL, AND THIS
SHOULD BE 'BOR84NE':I N -M'I;ND WHEN MA-K I NG A
COMPARISON. -SOME DEALERS FEEL THAT THIS
YEARS LARGE STOCKS ARE NOT ALTOGETHER
REASSURING, ALTHOUGH OTHERS ARE OF THE
OPINION THAT THEY ARE FULLY OFFSET..BY
APPARENT UNFAVORABLE PRODUCTION CONDITIONS
FOR THE REMAINDER OF THE SUMMER.

THE CASEIN MARKET HAS SHOWN NO
MATERIAL CHANGE DURING THE PAST MONTH.
TRADING WAS SLACK FOR THE MOST PART,
AND PRICES ON LIGHT VOLUME OF SMALL
JOBBING SALES WERE AROUND 14 CENTS
ON 30 MESH, AND 15 CENTS ON 70 AND
100 MESH AT EASTERN POINTS. NO
CARLOT SALES-WERE REPORTED AND NO
INQUIRY. THE NOMINAL WHOLESALE
QUOTATIONS WERE AROUND j2- TO 13
CENTS ON LARGE MESH AND TO I
CENT MORE ON FINER MESHES.


JUNE 1934


1933
87,836
357,494


LBS.
LBS.









JULY 26, 1934.


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


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOR JULY 1934
MANUFACTURERS' WHOLESALE SELLING PRICES DURING JUNE
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBOERS, 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 SKIM MILK DRY WHOLE MILK DRY BUTTERMILK
(BULK GOODS) BUL ODS) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS HOUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS IN BAGS IN BBLS.
3 3- 641,061 3 173,912 3 3 147,275
3 4 1,019636 206,441 3 4 1,501,709
4 4 2,623,769 33,040 14 5 202,049 4- 1,885,675 30,778
4- 5 5,720,058 444,665 5 6 6- 71,390
5 216,154 1,601,950 16 17- 7,218 7 85,560
51 6 766,160 3,809,555 17- I82 249
6 61 870 3,368,021
6 7 2,792 5,917,218
7 7 1,109,663
7 8 465,590
TOTAL 10,990,500 16,749,702 589,869 3,534,659 187,728
GRAND TOTAL 27,740.202 589,869 3,722 387
AVERAGE PRICE JUNE 1934 5.460 14.320 4,600
MAY 1934 5.530 14.090 4.630
JUNE 1933 4.71 14.660 4.720


DRY WHOLE


WHOLESALE PRICES REPORTED ON CAGE GOODS WERE AS FOLLOWS:
MILK (I LB. CANS) 340 PER POUND.
WHOLESALE SELLING PRICES F.O.B. DISTRIBUTING POINTS-JUNE
DRY SKIM MILK
(CENTS PER LB.)


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS BBLS.
4.5 6.5 6 8
4.25 7 5.215 8
6.5 5.94 8
4 6.5 5 -8
6.5 5 -8
4 6.5 6.4 8


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

4.41 5.5
4.41 5.5
3.98 4.5
4.5


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.

TOTAL STOCKS ON HAND
CLASSES OF JULY 1, 1934
DRY MILK BAGS N BARRELS TOTAL POUNDS(A) FIRMS
POUNDS) (POUNDS) TOTAL OUNDS(A) FRMS*
WHOLE MILK 35,915 1,435,426 2,718,667 18
SKIM MILK 14,721,465 22,687,429 37,477,847** 134
PART SKIM 0 85,384 118,830 3
CREAM POWDER 0 47 47 2
BUTTERMILK 5,97,2071 296,113 6,268,184 77
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,247,326 POUNDS;
KIM MILK 58,953 POUNDS PART SKIM 33,446 POUNDS.
**EQUIVALENT TO 48 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
DlY SKIM MILK ON JULY I, WERE EQUAL TO APPROXIMATELY 48 DAYS'
REQUIREMENTS, IN COMPARISON WITH 42 DAYS ON JUNE 1, 1934:
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND JULY I,
1933 WERE THE EQUIVALENT OF A 14 DAYSt SUPPLY.


CLASSES OF
DRY MI K


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS


TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING


PREVIOUS YEAR


PREVIOUS MONTH


FIRMS* JULY I, 1934 JULY 1,1933 FIRMS* JULY 1,1934 JUNE 1,1934
W'HOLE MILK 16 2,680,071 2,408,737 18 2,718,667 1,865,142
SKIM MILK 112 35,066,590 9,459,386 131 37,303,747 32,810,868
PART SKIM 3- 118,830 121,736 3 118,830 129.946
CREAM POWDER 2 47 138 2 47 3,732
BUTTERMILK 61 5.968.129 1.797,949 73 6,197,684 5,085,979
* FIGURES SHOWING NUMBER OF FIIrMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME


FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER)
JULY 1934


UNIV. OF.FL LII
DOCUMENTS DEPT



U. DEPO(tTORY


BBLS.
7 7.5
5.5 7
5.5 7
6.5 8
6.75- 7.1


I


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS








PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS JUNE


INCLUDES REPORT. FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
CLASSES COMPARISON OF PRODUCTION POUNDS) FOR SAME FIRMS
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* JUNE 1934 JUNE 1933 FIRMs* JUNE 1934 MAY 1334

WHOLE MILK 15_ 1,607900 __201.OI51 16 _1759900 1,136,127
SKIM MILK _0I_' 9,233,515 24.858,049 129 31 266,924 30,611,218

PART SKIM 2 56,657 61 735 .2 56,657 108,036

CREAM POWDER 2 0 4,563 2 0 0

BUTTERMILK 62 4,732,393 4,631,162 75 4,981,405 4,154,724
REPORTS INDICATE THAT JUNE PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE.MI.LK: BAGS 9.165 BARRELS 38.71 CAfES 52.1]3.
DRY SKIM MILK: 43.59~ 13, 86,336 LBS) 56.31g(17,683,517 L BS 0.I10.
DRY BUTTERMILK: 95.16( 4.779,069 LBS) 4.84%( 243,093 LBS)
PRODUCTION DRY SKIM MILK MAY-1934 (INCLUOIG LATE REPORTS) BAGS 13,641,164 LBS,
(44.25%); BARRELS 17,182,999 LOS. (55.75,); TOTAL 30,824,163 LBS;
FIGURES SHOWING NUMBER OF -IRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY MILK DURING JUNE 1934


EXPORTS TO
EUROPE
UNITED KINGDOM
NORTH AMERICA
HONDURAS
MEXICO
NEWFOUNDLAND &
PANAMA
SOUTH AMERICA
ARGENTINA
COLOMBIA
VENEZUELA
ASIA
CHINA
SIAM
OCEANIA
PHILIPPINE Is.
OTHER COUNTRIES


EXPORTS


LABRADOR


POUNDS

46,000

7,788
38,925
14,000
16,314

50 790
9 464
17,385

39 740
6,307

20,718
41.890


IMPORTS
IMPORTS FROM
EUROPE
SWITZERLAND
UNITED KINGDOM
NORTH AMERICA
CANADA


POUNDS

132
18


TOTAL JUNE 1934 309.321 TOTAL JUNE 1934 175
TOTAL JUNE 1933 224,518 TOTAL JUNE 1933 33,564
JAN. JUNE (INC.) 1934 1,646,440 JAN. JUNE (NC.) 1934 1,872
JAN. JUNE (INC.) 1933 1,297,392 JAN. JUNE (INC.) 1933 222,392


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

DRY MILK MARKETS MOSTLY EASY TO WEAK -


MUCH HEAVIER PRODUCTION, WITH
SALES FAILING TO SHOW AN EQUAL EXPANSION,
CAUSED THE DEVELOPMENT OF A MUCH EASIER
SENTIMENT IN THE DRY MILK MARKETS IN
JULY, ACCORDING TO THE U.S. BUREAU OF'
AGRICULTURAL ECONOMICS. PRICES WHICH HAD
.HELD RELATIVELY:,STEADY THROUGH JUNE WERE
REPORTED TO HAVE SAGGED0 SHORTLY AFTER THE
FIRST OF THE MONTH, AS DEALERS FOUND IT
DIFFICULT TO MOVE STOCKS FREELY AT FORMER
QUOTATIONS. THIS WAS PARTICULARLY TRUE
ON FEED POWDER, STOCKS OF WHICH ARE NOW
SAID TO BE QUITE LARGE. THE DEMAND FOR
THIS PRODUCT FROM THE POULTRY INDUSTRY
THIS SUMMER HAS PROVED VERY DISAPPOINTING.
REPORTS FROM COMMERCIAL HATCHERIES INDI-
CATE A MUCH LIGHTER HATCH DURING THE
FIRST SIX MONTHS OF 1934 THAN DURING THE
SAME PERIOD LAST YEAR, AND WITH A
REDUCTION OF BOTH YOUNG AND OLD CHICKENS
ON FARMS, THE DEMAND FROM THE COMMERCIAL
CHICKEN FEED MANUFACTURERS HAS BEEN VERY
DULL FOR THE PAST. TWO-MONTHS. IN .
'ADDITION, MANY OF THESE MANUFACTURERS
BOUGHT HEAVILY EARLY IN THE SEASON, AND
ARE NOW DRAWING ON STOCKS ACCUMULATED
RATHER THAN BUY CURRENT SUPPLIES AT MUCH
HIGHER PRICES.

PRODUCTION OF DRY SKIM MILK WHICH
HAS BEEN QUITE HEAVY FOR THE PAST FEW
MONTHS SHOWS NO INDICATION OF EASING UP.
JUNE SHOWED AN INCREASE OF ABOUT 2 PER
CENT OVEl MAY AND ABOUT 17 PER CENT OVER
JUNE OF LAST YEAR. SALER REPORTED BY
MANUFACTURERzS IN JUNE WERE SUBSTANTIALLY
LARGER THAN THOSE OF MAY, BUT CONSIDER-
ABLY LESS THAN THE JUNE PRODUCTION.
STOCKS IN THE HANDS OF MANUFACTURERS AS
OF .JULY 1, THEREFORE, SHOWED AN
APPRECIABLE INCREASE OVER THOSE OF JUNE I,
AMOUNTING TO 48 DAYS 'SUPPLY, COMPARED TO
ONLY 14 DAYS' SUPPLY ON JULY 1 LAST YEAR
AND 42 DAYS' SUPPLY ON JUNE I THIS YEAR.
'WITH THE EXCEPTION OF 1931 THE STOCKS
REPORTED FOR JULY I WERE THE LARGEST EVER


L61,L 80 Z69lO E9

Vai OId do AIISt AINn


1934
151,210 LBS.
749,906 LBS.


1933
223,257 LBS.
580,751 LBS.


PRODUCTION HEAVY AND STOCKS ACCUMULATING


REPORTED FOR THE DATE.

ALTHOUGH THE WEAKNESS OF THE DRY
MILK MARKETS IN JULY WAS MORE PRONOUNCED
ON DRY SKIM FEED POWDER, IT ALSO EXTENDEq
TO OTHER DRY MILK PRODUCTS. THE PRO-
DUCTION OF DRY BUTTERMILK IN JUNE WAS
ABOUT 20 PERCENT LARGER THAN THAT OF MAY
AND 2 PER CENT LARGER THAN IN JUNE LAST
YEAR. SALES WERE ONLY FRACTIONALLY
LARGER THAN IN MAY, HOWEVER, AND STOCKS
REPOiTED BY MANUFACTURERS FOR JULY I
ROSE TO THE HIGHEST POINT REACHED SINCE
OCTOBER, 1931. PRODUCTION OF DRY WHOLE
MILK WAS ALSO HEAVIER THAN IN MAY THIS
YEAR OR JUNE LAST YEAR, WHILE SALES
SHOWED A DECREASE OF ABOUT 25 PER CENT
FROM THOSE OF MAY. STOCKS REPORTED FOR'
JULY I WERE APPROXIMATELY 50 PER CENT
LARGER THAN THE STOCKS REPORTED FOR
JUNE I. ALTHOUGH THE JULY I STOCKS WERE
NOT ABNORMALLY HEAVY IN COMPARISON WITH
STOCKS OF PREVIOUS YEARS, THE SHARP
INCREASE DURING THE MONTH OF JUNEWAS OF
CONSIDERABLE CONCERN TO BOTH MANUFACTUR-
ERS AND DISTRIBUTORS.

THE CASEIN MARKET HELD RELATIVELY
STEADY TO FIRM DURING JULY. DEMAND WAS
NOT PARTICULARLY STRONG, BUT SUPPLIES
ARE LIGHT, AND ALL OFFERINGS ARE ABSORBED
WITHOUT DIFFICULTY AT PREVAILING
QUOTATIONS. CARLOT SALES ARE VERY RARE
AND MOST BUSINESS REPORTED IS OF A
JOBBING NATURE. QUOTATIONS ON DOMESTIC
CASEIN F.O.B. ATLANTIC SEABOARD DURING
JULY, ON A JOB LOT BASIS, HELD CLOSELY
TO 14 TO 15 CENTS ON 30 MESH AND 15 TO 16
CENTS ON 70 T) 100 MESH. THESE PRICES
ARE NOT HIGH ENOUGH TO BRING IN
IMPORTS, BUT ANY ADVANCE MIGHT
ATTRACT SOME SHIPMENTS FROM
ARGENTINA.


JULY 1934


------ ---- -~---







AUGUST 28, 1934.


UNITED STATES DEPARTMENT OF AGRICULTURE
.BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE
DRY. MI.LY MARKET REPORT FOR AUGUST 1934


WASHINGTON, D.C.


MANUFACTURERSt WHOLESALE SELLING PRICES DURING JULY
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS ANDSIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE FEASIS 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 k ILK DRY WHOLE MILK DRY BUTTERMILK
(ULK 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 14,200 12 12 0 4,956 3 -3 814,320
2 3 .50,000 12 13 104,800 3 4 859,437 43,315
3 3 864,29 13 14- 31,400 4 716,046 1,151
3 4 1,062,144 19,650 14 -15 185,462 5 6 14,900
4 4 1,869,943 41,410 15 16 89,485 6 7 116,290
42 5 3,107,894 513,215 6 17 20,397 8 10,480
5 51 132,978 1,572,832
5 6 223,363 4,168,226
6 6- 65,410 3,598,724
6 7 493 5,200,423
7 7 1,137,372
7- 8 120,700
8 -'8 -
8 9
9 -1,600
TOTAL 7,390,724 13,374,152 436,490 2,389,803 200,136
GRAND TOTAL 23,764,876 436,490 2,589,939
AVERAGE PRICE JULY 1934 5.540 14.490 4.17I
JUNE 1934 5.460 14.324 4.600
JULY 1933 5.400 15.530 4.930


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
MILK (I LB. CANS) 35.89 PER POUND.
WHOLESALE SELLING PRICES F.O.B. DISTRIBUTING POINTS JULY
DRY SKIM MILK
(CENTS PEL LB.)


BOSTON
NEW YORK
PHILADELPHIA
CH CAGO
CLEVELAND
ST.- Ltot s


BAG S
4.25 6.5
3.8 6.5
6.5
4.25 6 5
6.5
4 6.5


BBLS.
6.5 -
5.204 -
5.89 -
5.7 -
6
6.5 -


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

4.5 5.5
4.5 5.5
4


BBLS.
7 7.5
5,5 7
5.5 7
6.25 7.75
6.75 7.35


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.

TOTAL STOCKS ON HAND
CLASSES OF AUGUST I,1934
DRY MILK POUNDSD) I DS TOTAL POUNDS(A) FIRMS*


WHOLE MILK 47,593 1,601,125 3.031,305 18
SKIM MILK 16,997,635 22,462,734 39,510,054** 131
PART SKIM 7,986 140,820 175,609 4
CREAM POWDER 0 12,152 12,152 3
BUTTERMILK 7,021,168 256,843 7,278,011 76
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1382,587
POUNDS; SKIM MILK 49 685 POUNDS; PART SKIM 26,803 POUNDS.
**EQUIVALENT TO 51 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 AUGUST I, WERE EQUAL TO APPROXIMATELY 51
DAYS' REQUIREMENTS, IN COMPARISON WITH 48 DAYS ON JULY I,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO STOCKS ON
HAND AUGUST 1, 1933 WERE THE EQUIVALENT OF A 13 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* AUG. 1,1934 AUG. 1,1933 FIRMS* AUG. 1,934 JULY 1,1934
WHOLE-MILK 14 2,977,532 2,712,437 18 3,031,305 2,720,464
SKIM MILK 107 37,761,072 9,731,898 130 39,461,854 37,670,402
PART SKIM 3 IS7,623 113,408 4 175,609 122,239
CREAM POWDER 2 11,730 6,796. 3 12,152 607
BUTTERMILK 64 6,973,087 2,632.393 73 7,205,021 6,141,256


FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT
FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER)
AUGUST 1934


NUMBS


ER OF FACTORIES SINCE SOME
UNIV. F- FL LS.
1IEMENT DEPT.


U.S. DF 4 .TOR.
SU.S. DEFO TOfY







PAGE 2
PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS JULY

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* JULY 1934 JULY 1933 FIRMs* JULY 1934 JUNE 1934
WHOLE MILK 14 1,047,087 980,060 17 1,186,942 1,779,033

SKIM MILK 105 23j 619,370 21,864805 128 25,468,170 31,524,491

PART SKIM 3 1193220 13,370 3 119,220 58,407

CREAM POWDER 2 S16260 12,092 3 17,055 1,728

BUTTERMILK 64 3I770,347 3,709,336 73 3,929,710 4,877,343


REPORTS INDICATE THAT JULY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 11.47r BARRELS 33.77L CASES 54.76,.
DRY SKIM MILK: 45.42 11,576,296 LBS' 54.58 13,908,774 LBS).
DRYVBUTTERMILK: I" 5.54( 3 788 032 LBS 4.46% 176,93 LBS).
RODUCON DRY SKIM MILK JUNE 1934 (NCLUDIG LATE REPORTS) BAGS 13.701 396 LBS.
(43.21,o); BARRELS 17,975,78c LBS. 58.69.); CASES 0.107; TOTAL 31,768,80 LBS.
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 JULY 1934


EXI
EXPORTS TO
NORTH AMERICA
CUBA
HONDURAS
MExico
NETHERLAND W.
PANAMA
SOUTH AMERICA
BRAZIL
COLOMBIA
VENEZUELA
ASIA
BRITISH MALAYA
HONG KONG
OCEANIA
PHILlPPI NE Is.
nTHUC r INIMTDRI


PORTS


INDIES


POUNDS

5,606
8,953
18 803
5 968
31,878

7 345
10,820
19,671

8,649
15,128

45,357
7n 02p


IMPORTS
IMPORTS FROM
EUROPE
UNITED KINGDOM


POUNDS

477


TOTAL JULY 1934 208,780 TOTAL JULY 1934 477
TOTAL JULY 1933 204,577 TOTAL JULY 1933 25,974
JAN. JULY (INC.) 1934 1,855,220 JAN. JULY NC.) 1934 2,349
JAN. JULY (INC.) 1933 1,501,969 JAN. JULY (INC.) 1933 248,366


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


U1934
299,004 LBS.
1,048,910 LBS.


1033
1,494,573 LBS.
2,075,324 LeS.


DRY MILK MARKETS EASY AND IRREGULAR STOCKS INCREASE


THE POWDERED. MILK MARKETS IN
AUGUST CONTINUED TO EXHIBIT THE EASY AND
IRREGULAR TONE NOTED A MONTH AGO, ACCORD-
ING TO THE U.S. BUREAU OF AGRICULTURAL
ECONOMICS. THE STATISTICAL POSITION WAS
SLIGHTLY LESS FAVORABLE, AS SUPPLIES
APPEARED TO BE IN EXCESS OF CURRENT DEMAND
AT PREVAILING QUOTATIONS, PARTICULARLY ON
DRY SKIM MILK FOR ANIMAL FEEDING.
ALTHOUGH SALES REPORTED FOR JULY WERE
SOMEWHAT LARGER THAN THE SALES REPORTED
FOR JULY LAST YEAR, PRODUCTION SHOWED AN
EVEN LARGER INCREASE, AND STOCKS HELD BY
MANUFACTURERS AGAIN EXPANDED. THE MATTER
OF INCREASING STOCKS OF DRY SKIM MILK IN
PARTICULAR IS A CAUSE FOR CONCERN TO SOME
MANUFACTURERS AND DISTRIBUTORS, ALTHOUGH
OTHERS FEEL THAT IN VIEW OF THE ANTICI-
PATED LIGHTER MILK PRODUCTION THIS FALL
AND WINTER, THE PRESENT RESERVES WILL BE
NEEDED TO SUPPLEMENT THE LIGHTER PRO-
DUCTION OF DRY SKIM MILK THAT IS ALSO
EXPECTED. IN VIEW OF THE EASY AND
IRREGULAR TONE, PRICES HAVE HELD
SURPRISINGLY WELL, ALTHOUGH A FEW MANU-
FACTURERS APPEAR TO BE WILLING TO MAKE
SLIGHT CONCESSIONS. THE DEMAND FOR DRY
SKIM MILK FOR ANIMAL FEEDING HAS BEEN
AFFECTED ADVERSELY THROUGHOUT THE DROUGHT
AREA BY THE HEAVY SALES OF POULTRY BECALEE
OF GENERALLY INADEQUATE FEED SUPPLIES,
AND UP UNTIL THE PAST FEW WEEKS, THE LOW
PRICES FOR EGGS. WITH EGG PRICES THIS
FALL EXPECTED TO SHOW A SOMEWHAT LARGER
THAN NORMAL SEASONAL INCREASE, THERE
SHOULD BE A GREATER INCENTIVE FOR EGG
PRODUCERS TO FEED THEIR SMALLER NUMBER OF
LAYERS MORE INTENSIVELY IN ORDER TO
SECURE AS LARGE A PRODUCTION AS POSSIBLE,
AND SOME INCREASE IN THE USE OF DRY SKIM
MILK FROM THAT SOURCE MAY BE EXPECTED.

THE PRODUCTION OF DRY SKIM MILK IN
JULY WAS ABOUT 8 PERCENT LARGER THAN IN
JULY A YEAR AGO. THE SEASONAL DECLINE IN
PRODUCTION, JUNE TO JULY, HOWEVER, WAS
ALSO LARGER, INDICATING THAT DUE TO THE-
LARGE STOCKS ON HAND,.MANUFACTURERS ARE
CURTAILING THEIR OUTPUT TO SOME EXTENT,
PRODUCTION OF OTHER DRY"MILK PRODUCTS,
SUCH AS WHOLE M.ILK, PART SKIM MILK,


CREAM POWDER AND BUTTERMILK, WERE ALSO
LARGER THAN A YEAR EARLIER, ALTHOUGH IN
THE CASE OF WHOLE MILK AND BUTTERMILK,
CHE MARGIN OF INCREASE OVER THE PRO-
DUCTION OF THE SAME MONTH LAST YEAR WAS
SOMEWHAT SMALLER THAN IN JUNE.

STOCKS OF ALL DRY MILK PRODUCTS
IN THE HANDS OF MANUFACTURERS AS OF
AUGUST I INCREASED OVER STOCKS REPORTED
FOR JULY I, THIS YEAR. ON THE BASIS OF
THE 5-YEAR AVERAGE (1929-1933) MOVEMENT,
STOCKS OF DRY SKIM MILK AND BUTTERMILK
DECREASED FRACTIONALLY FROM JULY TO
AUGUST, STOCKS OF PART SKIM MILK
DECREASED SHARPLY, WHILE WHOLE MILK AND
POWDERED CREAM INCREASED RATHER
DEFINITELY. STOCKS OF DRY SKIM MILK ON
AUGUST I AMOUNTED TO 39,510,000 POUNDS
EQUAL TO 51 DAYSI OF TRADING SUPPLY
COMPARED TO 48 DAYS' SUPPLY ON JULY I,
THIS YEAR, AND 13 DAYS' SUPPLY ON
AUGUST I, LAST YEAR. THIS YEAR'S STOCKS
WERE THE LARGEST EVER REPORTED FOR
AUGUST I, BOTH AS TO THE TOTAL NUMBER OF
POUNDS AND THE NUMBER OF DAYS' SUPPLY IN
RELATION TO THE DAILY REQUIREMENTS OF THE
PRECEDING YEAR. STOCKS OF DRY BUTTERMILK
WERE ABOUT ONE-THIRD LARGER THAN THE
AVERAGE STOCKS OF AUGUST I, PART SKIM
MILK ABOUT TWICE AS LARGE, BUT STOCKS OF
BOTH WHOLE MILK AND CREAM WERE CONSIDER-
ABLY SMALLER, ALTHOUGH LARGER THAN ON
AUGUST I,.LAST YEAR.

THE CASEIN MARKET DURING AUGUST
WAS SLIGHTLY EASIER THAN IN JULY. AT NO
TIME DURING THE MONTH, HOWEVER, WERE
SUPPLIES PARTICULARLY HEAVY, BUT IN THE
ABSENCE OF ANY BUYING SUPPORT QUOTATIONS
SAGGED FRACTIONALLY. THE DEMAND FOR
PAPER COATING WAS QUIET, BUT NORMALLY
THIS IS THE SLOW SEASON OF THE YEAR FOR
THAT INDUSTRY. BUYING FROM OTHER SOURCES
WAS ALSO RATHER NOMINAL. QUOTATIONS ON
DOMESTIC CASEIN F.O.B. ATLANTIC SEABOARD,
IN CARLOTS, RANGED FROM:II TO 12 CENTS,
WITH MOST SALES AT 12 CENTS. JOBBING
LOTS MOSTLY BETWEEN 14 TO J5 CENTS ON 30
MESH AND 15 TO 16 CENTS ON 70 TO 100
MESH


.AUGUST 1934


SOiZ 6L o0 9ZL CI

VO1I10d dO AIISa2AINn









SEPTEMBER 28, 1934


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS'
MARKET NEWS SERVICE
DRY MILK MARKET REPORT FOR SEPTEMBER 1934


WASHINGTON, D.C.


MANUFACTURERS' WHOLESALE SELLING PRICES DURING AUGUST
TH- 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
MAYBE IN PART ATTRIBUTED TO DIFFERENCES IN QUALITY OR GRADE OF PRODUCT SOLD.
DR' SKIM MILK DRY WHOLE MILK DRY BUTTERMILK
BULK'GOODS) ( BULK GOODS) (BULK GOODS)
REPORTED SALES REPORTED SALES .REPORTED SALES
POUNDS POUNDS
PR ICE I4 BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN 3BLS.
S-35,500 12 2 13,092 3 1,230,113 -
3 3 2,109,530 1,700 2 3- 3 4 1,003,977 -
3- 4 1,110,634 147,246 3 136,192 4- 5 564,710 21,405
43- 3,97 13,192 410
4 4 3,959,437 33,670 4- 5 369,686 5 6- 550 33,365
4g 5 1,165,089 518,655 15 6i 246,954 6S 7 137,983
5 5 224,683 3,200,276 7 54,224 7 8 11,325
5 6 249,250 1,516,211 17 8- -
6 6 800 1,767,.558 I8 19 150
6 7 6,.121., 661.

7 8 80 28.,
8 _; -
8180
TOTAL 8,855,062 14,7O8&, 84 820,298 2,853,350 209,078
GRAND TOTAL 23,561.,626 820,298 3,068,428
AVERAGE PRICE: 4.050 Q. 12 3.98 6.38.
AUGUST 1934 --- 0 14.94 4. 14
JULY 1934 5.54 4 14.490 4.17'
AUGUST 1933 5.86 16.06 ____ 5.22'


WHOLESALE PRICES REPORTED ON CASE GOODS W,'E
DRY WHOLE MIfLK (I LB. CANS) 35.71 PER POUND.
WHOLESALE SELLING PRICES F.O.B. DISTRIBUTING
DRY SKIM MILK
(CENTS PER LB.)


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST..LOUIS


BAGS
4.5 5
3.04- 5.7
5
3.5 5.5
5
4 5


BBLS.
6.175 8
5.296 8
5.94 8
5.5 -8
6.155 8
6.5 -9


KANSAS CITY
SEATTLE
PORTLAND
Los 4NGELES
SAN FRANCISCO


RE AS FOLLOWS:

POINTS AUGUST


BAGS

4.41 5
4.41 5
3.93


BBLS.
7 7.5
5.75 7
5.96 7
6.31 8.5
6.5 7.35


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 OUT NOT DELIVERED.
TOTAL STOCKS ON HAND
CLASSES OF SEPTEMBER 1,1934
DRY MILK IN BAG IOBARRENS TOTAL POUNDS(A) FIRMS*

WHOLE MILK 33,100 2,214.977 3,490,671 17
SKIM MILK 15,470,502 23,0383676 33,510,553** 129
PART SKIM 7,986 78,630 86,666 3

CREAM POWDER 0 23,088 23,088 3
SUTTERMILK 7,220,610 307,311 7,527,321 73
A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK I,042,594
POUNDS; SKIM MILK 1 375 POUNDS.
**EQUIVALENT TO 50 DAYS' REQUIREMENTS: ON THE OASIS 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
50 DAYS' REQUIREMENTS, IN COMPARISON WITH 51 DAYS ON AUGUST I,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON
HAND SEPTEMBER I, 1933 WERE THE EQUIVALENT OF A 14 DAYS'
SUPPLY.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS POUNDS) ON HAND FOR SAME ;- IRMS REPORTING
DRY MILK PRE,'I'I;US YEAR PREVIOUS MONTH
FIRMs* SEPT.I, 1934 SEPT.I,1333 FIRM!s* SEPT.I 1934 AUG. 1,1934
WHOLE MILK 14 '3,488543 2 771 ,518 17 3,490,671 2,938,431
SKIM MILK 109 37,24.1 ,240 99S8,626 128 38,507,003 39.327,486
PART SKIM 2 .78 680 27,8338 3 86,636 148,806
CREAV, PO';jDER 2___ 22,683 13 906 3 23,098 12,152
BUTTERMILK 69 7,453,432 2,973,339 73 7,527,921 7 179,237


* FIGUREr SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER
FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER)
SEPTEMBER 1934


OF FACTORIES


SINCE SOME


UNIV. OF FL LIU.
UCUENT8 DEPO T



U.S. DEPOGTORY


I -




PAGE 2


PRODI.!CTION OF DRY MILK REPORTED BY MANUFACTURERS AUGUST
INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE


UNITED STATES.
COMWpAR I SON OF PRODUCTION POUNDS) FOR SAME FIRMS
CLASSES OF
DRY MI LK PRv- IouS YEAR PREV I OUS MONTH
FIRMis* AuusT 1934 AuGus UST 1,34 FIRMS* AUGUST 1934 JULY 1934
WHOLE MILK- 14 1 ,029 1 201 293 13 1 837_895 1,186,942
SKIM MILK 108 19,17'), 124 18,115,107 126 20.805,29. 7 25,207,361
PART SKIM 2 5,103 | 17,477 2 5,103 119,220
CREAM P'ODER 2 15,548 11,738 3 17,321 17,055
BUTTERMILK 71 _3,01,99 1 3050,242 75 3 147,541 3,931,128
R rr. T !--.I


I INDICATE THAT A N


WAS PACKED AS FO :


DRY WHOLE MILK: BAGS 12.42e BARRELS 4C.50~ CASES 46.996.
DRY SKIM MILK: 36.49,(7,606,992 LBS) ," 63.51 (13,240,555 LOs)
DRY BUTTERMILK: 3920%(2,920 780 LBr) 7.2.( 226,761 LBS)
PRODUCTION DRY SKIM MILK- JULY 1234(INCLUDI .3 LATE REPORTS) BAGS 11,651,796 LBS.
(45.51 ); ARREL.S 13:,943,274 LBS. (54.49); TOTAL 25,600,070 LOS.
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 1934


EXPORTS
EXPORTS TO
NURiH AMERICA
CANADA
CUBA
NETHZRLAND W. INDIES
PANAMA
SOUTH AMERICA
ARGENTINA
BRAZIL
COLOMBIA
VENEZUELA
ASIA
C--HINA
NETHERLAND EAST INDIES:
OCEANIA
PHILIPPINE IS.
OTHER COUNTRIES


POUNDS

46,500
6, 100
5 015
24 083

18 745
54,774
13 554
29s953

15,598
13 646

64,159
2S.496


IUIAL AUIGU I-T 31~8623
TOTAL AUGUT 1334 131698
JAN. AUG. INC.) 1934 2,138,278
JAN. AUG. (INC.) 1933 1,693,667


IMPORTS
IMPORTS -FROM
ELUHI-P
UT-'iTFED KINGDOM


.POUNDS


TOTAL AUGUST 1934 24
TCTAL AUGUST 1933 183,644
JAN. AUG. (INC.) 1934 2,373
JAN. AUG. (NC.) 1933 432,010


CASEIN IMPORTS
AUGUST
CASEIN IMPORTS
JAN.-AUG. (INC)


134


1933


42,219 LBS 2,938,563 LBS

I,091,129 LBS 5,04 3,387LBS


DRY MILK MARKETS IRREGULAR BUT INCLINED TO WEAKNESS


THE DRY MILK MARKETS WERE 'lOSTLY
IRREGULAR DURING SEPTEMBER. THE MARKET
ON.DRY WHOLE MILK AND DRY.BUTTERMILK WAS
GENERALLY STEADY, GUT DRY SKIM MILK WAS
NERVOUS AND UNSETTLED AND. INCLINED TO
WEAKNESS DURING THF MAJOR PART OF THE
MONTH. THE POSSIBILITY OF -OME SIZABLE
EXPORTS, TOGETHiFR WITH THE PROPOSED
PURCHASE BY THE FEDERAL GOVERNMENT OF DRY
SKIM MILK FOR RELIEF DISTRIBUTION LENT
SOME SUPPORT TOWARD THE CLOSE AND
DEVELOPED A SLIGHTLY STEADIER FEELING.
STOCKS OF DRY SKIM MILK ON SEPTEMBER I
WERE STILL LARGE, !UT SOME ENCOURAGEMENT
WAS H-\D PROM THE FApT THAT THEY SHOWED
THE USUAL SEASONAL DECREASE FROM AUGUST I
REPORTED PRODUCTION FOR AUGUST WAS
HEAVIER THAN A YEAR EARLIER, BUT THE
MARGIN OF INCREASE OVER THE CORRESPONDING
MONTH LAST YEAR WAS THE SMALLEST SO FAR
REPORTED FOR ANY MONTH IN 1234. INCREAS-
ING STOCKS AND A LAGGING DEMAND HAS LED
MANY MANUFACTURE:R3 NOT ONLY TO LOWER THE
LEVEL OF PRODUCTION BUT TO FOLLOW A MORE
AGGRESSIVE SALES POLICY IN AN EFFORT TO
LOWER THEIR INVENTORIES. TOTAL SALES OF
DRY SKIM MILK REPORTED TO THE U.S. BUREAU
OF AGRICULTURAL ECONOMICS FOR AUGUST WERE
ONLY ABOUT I PERCENT SMALLER THAN THOSE
OF JULY, WHEREAS A YEAR AGO THERE WAS A
DECREASE OF APPROXIMATELY 7 PERCENT.
THE DRY MILK PRICE SITUATION IN
AUGU-.T WAS ,.IlXED. THE AVERAGE OF E.3
CENTS PE. POUND ON DRY SKIM MILK SALES
WAS NOT ONLY FRACTIONALLY LOWER THAN IN
JULY BUT IT WAS ALSO LESS THAN THE
AVERAGE. PRICE OF AUGUST LAST YEAR. AUGUST
IS THE FIRST MONTH THIS YEAR IN WHICH THE
AVERAGE PRICE OF DRY .KIM MILK DID NOT
EXCEED THAT OF THE CORRESPONDING MONTH OF
THE PREVIOUS YI:AR. THE AyERAGE PI ICE FOR
DRY WHOLE MILK WAS ABOUT g. CENT HIGHER
THAN IN JULY, WHILE THAT FOR DRY BUTTER-
MILK REMAINED PACT I CALLY.UNCHANGED. BOTH
THESE PRODUCTS, HOWEVER, AVERAGED LOWER
THAN IN AUGUST LAST YEAR.
TOTAL SALES OF DRY SKIM MILK, IN
BAGS AND EARREL', DUrZ I NG AUGUST WERE
REPORTED AT 23,562,000 POUNDS, ABOUT
200,000 POUNDS L13HTER THAN THE JULY
SALES, BUT APPROXIMATELY 3,000,000 POUNDS
HEAVIER THAN IN AUGUST A YEAR AGO. LAST
YEAR THERE WAS A DECLINE OF ABOUT
1,600,000 POUNDS IN SALES FROM JULY TO
AUGUPT. SALES OF DRY SKIM MILK IN BAGS
WERE ABOUT 1,500,000 POUNDS GREATER THAN
IN JULY BUT SALE IN BAGS WERE ABOUT
1,600,000 POUNDS LESS. MANUFACTURERS
HAVE BEEN CONCENTRATING THEIR EFFORTS IN


REDUCING THEIR SUPPLIES OF DRY SKIM MILK
FOR ANIMAL FEEDING, AS THE DEMAND FOR
THAT PURPOSE HAS LAGGED CONSIDERABLY
BEHIND THE DEMAND FOR DRY SKIM MILK FOR
HUMAN CONSUMPTION. SALES OF BOTH DRY
WHOLE MILK AND DRY BUTTERMILK WERE LARGER
THAN THOSE OF JULY THIS YEAR, OR AUGUST
LAST YEAR, AND IN'SPITE OF HEAVY STOCKS
THE MARKETS ON BOTH PRODUCTS ARE HOLDING
RELATIVELY STEADY.
STOCKS OF D ;Y SKIM MILK ON
SEPTEMBER I AMOUNTED TO 38,511,000 POUNDS,
A SLIGHT DECREASE FROM THE STOCKS OF
AUGUST I. ON THE BASIS OF THE PREVIOUS
YEARS REQUIREMENTS, STOCKS )N SEPTEMBER I
WERE CALCULATED AS REPRESENTING 50 DAYS
TRADING SUPPLY COMPARED TO 5l DAYS ON
AUGUST 1. A YEAR AGO, HOWEVER ONLY 14
DAYS' SUPPLY WAS AVAILABLE ON SEPTEMBER I.
STOCKS OF DRY WHOLE MILK AMOUNTED TO
3,490,600 POUNDS COMPARED TO 3 031,300
POUNDS ON AUGUST I, AND 2,778,000 POUNDS
ON SEPTEMBER I, LAST YEAR. STOCKS OF DRY
BUTTERMILK AMOUNTED TO 7,527,900 POUNDS
COMPARED TO 7,278,000 POUNDS ON AUGUST I,
AND3,222,500 POUNDS A YEAR EARLIER.
CERTAIN IRREGULARITIES ARE NOTED
IN THE FIELD OF PRODUCTION. THE MANU-
FACTURE OF DRY WHOLE MILK IN AUGUST WAS
VERY LARGE, BOTH IN COMPARISON WITH JULY
THIS YEAR AND AUGUST LAST YEAR. THE PRO-
DUCTION OF DRY SKIM MILK DECREASED BY
ABOUT 18 PERCENT FROM JULY, BUT WAS
AROUND 6 PERCENT HEAVIER THAN IN AUGUST A
YEAR AGO. THE PRODUCTION OF DRY BUTTER-
MILK WAS VERY LITTLE DIFFERENT FROM A.
YEAR EARLIER BUT SHOWED THE USUAL SEASON-
AL DECLINE FROM JULY. IN VIEW OF THE
HEAVY SUPPLIES ON HAND, IT IS UNDERSTOOD
THAT MANUFACTURERS OF DRY MILK PRODUCTS
ARE ATTEMPTING TO LIMIT THEIR OUTPUT AS
MUCH AS POSSIBLE.
THE CASEIN MARKETS IN SEPTEMBER
WERE GENERALLY QUIET AND INCLINED TO
WEAKNESS. QUOTATIONS ON DOMESTIC CASEIN,
F.O.B. ATLANTIC SEABOARD, WERE 11-12
CENTS ON CARLOTS OF AVERAGE QUALITY,
AND 12,;-.13 CENTS ON SPECIAL
PROCESS. JOBBING P-ICES WERE
MOSTLY 14 CENTS ON 30 MESH AND
15 CENTS ON 100 MESH.
ARGENTINE CASEIN WAS QUOTED AT 7-7'
CENTS, C. I. F., BUT WITH NO
TRADE REPORTED.


990L 6ZL80 I9S 1 I

11111 III dI111111 111 I II II
VOINO"I 4O A.ISN=IAINn


i\E R-u TS I










OCTOBER 27, 1934.


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


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOR OCTOBER 1934
MANUFACTURERS' WHOLESALE SELLING PRICES DURING SEPTEMBER
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO J03BERS; 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 SKIM MILK DRY MILK DY H ILK 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 3f 51,942 12 I2- 4,178 2L 31 1,706,511 -
3 3- 1,082,123 12 13 219,036 3 4 694,708 -
3- 4 4,393,918 27,800 I3 14 805,579 4- 5- 517,792 24,609
4 4 885,626 54,20 14 339,069 5 6 17,600
4 5 680,686 783,455 15 16 775 6 7 180.775
5 5- 72,416 1,029,821 16 17 71,360 7 8 8,025
5x 6 40,750 2,938,663
6 6- 147,185 5,363,517
6- 7 2,506,643

7k-8 c
71 8 a .

8 8- 9,600
TOTAL 7,354,646 13,863,638 1,500,497 2,919,011 231,009
GRAND TOTAL 21,21 4 1,500,497 3,150,020
AVERAGE PRICE:3.71, 6-.250 3.710 6.790
SEPT. 1934 5.380 14.240 3.930
AUG. 1934 5.348 14.34 4.140
SEPT. 1933 6.280 16.020 5.120


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS
MILK (I LB. CANS) 35.70 PER POUND.


WERE AS FOLLOWS:


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


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS
4. 6
3.5 6
6
3.5 6
6
3.5 6


SBOLS.
5.94 7.5
5.211 7.5
5.42 8
5.6 8.5
6,5 8
6.25 8


DRY SKIM MILK
(CENTS PER LB.)


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS BBLS.
6,25 7.5
3.75 5 5.75 6.75
5 5.75 6.75
6.37 8
6.5 6.75


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDE. 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 OCTOBER 1 1934
DR.Y MILK I.N BAGS. IN BARRELS TOTAL POUNDS(A) FIRMS
POUNDS) (POUNDS TOTAL POUND(A) FIRMS

WHCLE ,ILK 115,360 2,020,407 3,441,046 19
SKIM MILK 14,578,052 23,502,719 38,114.777** 127
PART SKIM 0 58,517 79,468 4
CREAM POWDER 0 36,673 36,673 3
BUTTERMILK 7,057,611 226,093 7,283,764 70
A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,305,279 POUNDS;
KIM MILK 34,006 POUNDS' PART SKIM, 20,951 POUNDS.
**EQUIVALENT TO 48 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 1, WERE EQUAL TO APPROXIMATELY
48 DAYS' REQUIREMENTS, IN COMPARISON WITH 50 DAYS ON SEPTEMBER,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
OCTOBER I, 1933 WERE THE EQUIVALENT OF A 16 DAYSI SUPPLY.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS POUNDS) ON HAND FOR SAME FIRMS REPORTING
CLASSES OF
DRY MILK PRPEViOUS YEAR PREVIOUS MONTH
FIRMS* OCT.. I,1934 OCT. 1,1033 FIRMS* OCT. I,1934 SEPT.I IS34
WHOLE MILK 17 3,43S,083 2,934,166 19 3,441,046 3,586,379
SKIM MILK 107 36,689,671 12,003,424 126 38,105,477 38,957,878
PART SKIM 4 79,468 105,693 4 79,468 111,722
CREAM POWDER 2 36,261 33,731 3. 36.673 23.088
BUTTERMILK 64 7,185,186 3,132,994 69 7,186,764 7,592,021


* FIGURES SHOWING NUMBER OF FIRMS DO NO
FIRMS OPERATE MORE THAN ONE FACTORY.


T REPRESENT NUMBE E


OVER:)

OCTOBER 1934


UNIV. OF FL LII.
DOCUMENTS DEPT.

IAU. DEPOOI

U.S. DEPONTORY


V-r_


:)l NLHujt:.NlNUP-Atl







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
DRY MLASSESOF PREVIOUS YEAR PREVIOUS MONTH
FIRMS* SEPT.1934 SEPT.1933 FIRMS* SEPT.1934 AUG. 1934
WOLE MILK 16 I,519.420 955 141 18 1,523,824 1,866,554
SKIM MILK 106 18i461,271 18,168,553 124 19,873,655 20,841,613
PART SKIM 3 ,34,802 67,317 3 34,802 11,313
CREAM POWDER 2 18j243 24,134 3 19,778 17,321
BUTTERMILK 62 2,802,331 2,581,842 68 2.824,985 3.,170,891
REPORTS INDICATE THAT SEPTEMBER PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 19.97a BARRELS 47.69f CASES 32.34 .
DRY SKIM MILK: 38.50(7,655,810 LBS) 61.50(I212311745 LBS
DRY BUTTERMILK: 93..83o(2,678 474 LBS) II 6.17( 176,211 LBSs
PRODUCTION DRY SKIM MILK AUGUST 1934 (INCLUDING LATE REPORTS BAGS 7,098,990 LBS.
(36.41%); BARRELS 13,445,938 LBS. (3.59%); TOTAL 21,144,928 LBS.
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.


EXPORTS AND IMPORTS


EXPORTS TO EXPORTS
EUROPE
UNITED KINGDOM
NORTH AMERICA
CANADA
CUBA
MEXICO
PANAMA
SOUTH AMERICA
ARGENTINA
COLOMBIA
PERU
VENEZUELA
OCEANIA
PHILIPPINE IS.
OTHER COUNTRIES


OF DRY MILK DURING SEPTEMBER 1934


POUNDS

81,900

50,975
6 560
9,813
29,395

32,000
9 441
21,332
34,582

44,795
54,849


IMPORTS FROM
NORTH AMER ICA
CANADA


IMPORTS


POUNDS

498


TOTAL SEPTEMBER 1934 375,642 TOTAL SEPTEMBER 1934 498
TOTAL SEPTEMBER 1933 183,862 TOTAL SEPTEMBER 1933 23,515
JAN.-SEPT. (INC.) 1934 2,540,590 JAN. SEPT. INC.) 1934 2,871
JAN.-SEPT. (INC.) 1933 1.877,529 JAN. SEPT. (INC.) 1933 455,525


CASEIN IMPORTS SEPTEMBER
CASEIN IMPORTS JAN. SEPT.


(INC.)


1934
44,-92 LBS.
1,136,121 LBS.


1933
1,452,027
6,495,914


LBS.
LBSo


DRY MILK MARKETS EASY AND IRREGULAR -


DEMAND SLOW AND STOCKS HEAVY


THE DRY MILK MARKETS IN OCTOBER
CONTINUED THE EASY AND IRREGULAR TREND
NOTED IN THE PREVIOUS MONTH. DEMAND FOR
SKIM MILK POWDER IN BOTH BAGS AND BARRELS
WAS SLOW IN RELATION TO SUPPLIES AVAIL-
ABLE, BUT ANTICIPATION.OF THE'PURCHASE OF
DRY SKIM MILK FOR RELIEF DISTRIBUTION WAS
AN UNDERLYING STEALING FACTOR* PRO-
DUCTION STILL EXCEEDED THAT OF A YEAR
EARLIER, ALTHOUGH THE MARGIN OF INCREASE
IN SEPTEMBER OVER THE SAME MONTH LAST
YEAR WAS CONSIDERABLY SMALLER THAN THAT
OF THE PRECEDING MONTH. STOCKS OF DRY
SKIM MILK REPORTED BY -MANUFACTURERS FOR
THE FIRST OF OCTOBER DECLINED SLIGHTLY
FROM THOSE OF SEPTEMBER I, BUT FAILED TO
SHOW THE FULL SEASONAL DECREASE. STOCKS
OF DRY BUTTERMILK ALSO SHOWED A SLIGHT
DECLINE BUT STOCKS OF DRY WHOLE MILK
REMAINED PRACTICALLY UNCHANGED.

TOTAL SALES OF DRY SKIM MILK FOR
SEPTEMBER AMOUNTED TO 21,219,000 POUNDS,
6N INCREASE OF 3,621,000 POUNDS, OR 21
PERCENT, OVER THE SALES REPORTED FOR
SEPTEMBER LAST YEAR. SALES OF 1,500,000
POUNDS OF DRY WHOLE MILK WERE ALMOST TWO
AND ONE HALF TIMES AS LARGE AS A YEAR
EARLIER, WHILE SALES OF DRY BUTTERMILK
WERE ABOUT ONE-FOURTH LARGER. FOR THE
MOST PART SALES OF DRY SKIM MILK IN
BARRELS WERE MADE AT SLIGHTLY HIGHER
PRICES THAN IN AUGUST, THE AVERAGE FOR
THE MONTH BEING 6.25 CENTS PER POUND,
COMPARED TO 6.12 CENTS PER POUND IN
AUGUST. SALES OF DRY SKIM MILK IN BAGS,
HOWEVER, RANGED FRACTIONALLY LOWER, AS
THE DEMAND FOR ANIMAL FEEDING PROVED
GENERALLY DULL AND UNSATI.SFMCTORY. THE
COMBINED AVERAGE PRICE FOR..THE .TWO WAS
PRACTICALLY UNCHANGED FgOM.THAT OF THE
PREVIOUS MONTH. THE AVERAGE MONTHLY
PRICE OF 14.12 CENTS PER ROUND REPORTED
ON SALES OF DRY WHOLE MILK WAS .7 CENTS
LOWER THAN IN AUGUST, AND THE AVERAGE
PRICE ON DRY BUTTERMILK SALES ,WAS .21
CENTS LOWER

PRODUCTION OF DRY SKIM MILK IN
SEPTEMBER WAS 1.6 PER CENT LARGER THAN





OCTOE
0069 6ZL980 19ZM C

VoaIn1d do AiIS83AINn


IN SEPTEMBER LAST YEAR. THIS INCREASE
OVER THE SAME MONTH LAST YEAR, HOWEVER,
WAS SOMEWHAT SMALLER THAN THE 5.8 PER
CENT IN AUGUST AND AN EVEN LARGER
INCREASE IN JULY. THE SLOW DEMAND OF
THE PAST FEW MONTHS, TOGETHER WITH THE
RAPIDLY ACCUMULATING STOCKS, APPARENTLY
HAS PROMPTED SOME MANUFACTURERS TO
REVISE THEIR PRODUCTION PROGRAM, AT
LEAST UNTIL SOME OF THE PRESENT HEAVY
STOCKS HAVE BEEN WORKED INTO CONSUMPTION.
THE PRODUCTION OF DRY WHOLE MILK AND
DRY BUTTERMILK CONTINUES TO BE MAINTAINED
ON A RELATIVELY HIGH LEVEL, THE
SEPTEMBER PRODUCTION OF BOTH PRODUCTS
MAKING NO MORE THAN THE USUAL SEASONAL
DECLINE FROM THAT OF AUGUST.

STOCKS OF DRYSKIM ON OCTOBER I
SHOWED A MINOR IMPROVEMENT OVER STOCKS
REPORTED ON SEPTEMBER I. ESTIMATED
TOTAL PRODUCTION FOR SEPTEMBER FELL
SHORT OF REPORTED SALES, AND WITH-.
DRAWALS AMOUNTING TO ABOUT 2 :A,yn!.
SUPPLY WERE MADE FROM, MANUFACTURERS
STOCKS. CALCULATED ON THE BASIS OF THE
PRECEDING YEARS REQUIREMENTS, STOCKS
OF DRY SKIM MILK HELD BY MANUFACTURERS
ON OCTOBER I REPRESENTED 48 DAYS' SUPPLY
COMPARED TO 50 DAYS' SUPPLY ON SEPTEMBER
I THIS YEAR, AND 16 DAYS' SUPPLY ON
OCTOBER I, LAST YEAR. STOCKS OF DRY
WHOLE.MILK WERE PRACTICALLY UNCHANGED
FROM THOSE OF A MONTH EARLIER, WHLLE
STOCKS OF DRY BUTTERMILK SHOWED A
SLIGHT DECREASE*

THE CASEIN MARKET WAS GENERALLY
EASY TO WEAK DURING OCTOBER, AND PRICES
LOWER. DEMAND WAS SLOW, AND AT TIMES
VOLUME OF TRADING WAS SO SMALL AS TO
MAKE IT DIFFICULT TO ESTABLISH
QUOTATIONS. PRODUCTION FOR THE MOST
PART WAS LARGE, AS THE RECENT WEAKNESSLN
THE DRY SKIM MILK MARKETS HAS CAUSE THE
DIVERSION OF SOME MILK TO CASEIN. UO-
TATIONS ON STANDARD CASEIN OF 20 TO 3U
MESH ON ARLTTS ATLANTIC SEABOARD IS
MOSTLY 9-10.- CENTS} WITH THE FINEST
QUALITY BRINGING IT CENTS. QUOTATIONS
ON ARGENTINE CASEIN IS 0U, C.I.F., WHICH
PRICE IS PROHIBITIVE OF IMPORTS AT THE
PRESENT TIME.


IER 1934







NOVEMBER 28, 1934


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


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOR NOVEMBER 1934
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 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) (BULK GOODS) BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
3 3- 2,750,307 12 I2 6,600 2 3- 1,634,037
3? 4 3,488,602 34,650 121 13 120,600 31 4 591,549 -
4 4 626,495 3' I4 645,487 4 5 539,040 30,710
4'- 5 926,347 94,311 4 15' 490,477 5 139,030
5 5- 149,011 1,799,316 15 I76- 1- -
5 6 7,103 2,306,097 16 107,318 7- 13,000
6 6- 16,470 2,940,536 17 18 233
6- 7 4,867,808 8~- 9 4,344
7 7: 1,309,670
7g 8 281,245
TOTAL 7,964,335 13,633,633 1,375,059 2,764,626 212,740
GRAND TOTAL 21,597,968 1,375,059 2.977,366
AVERAGE PRICE 3.700 6.270 3.620 6.15
OCT. 1934 5.320 14.450 3.800
SEPT. 1934 5.380 14.240 3.930
OCT. 1933 6.820 15.650 44.810


WHOLESALE PRICES
DRY WHOLE MILK (I LB. CANS) -


REPORTED ON CASE GOODS WERE
36.420 PER POUND.


AS FOLLOWS:


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


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


3.5 6
3.5 6
6
3.5 6
6
4 6


5.94
5.152
6.09
5.4
6.5
6.25


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


3.92
4.5


- 7 -.
-5 5.5-
- 5 5.5 -
6.2-
6.27-


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDE 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.
IUIAL UUGCKS UN HAND
CLASSES OF NOVEMBER 1934
DRY MILK IN BAGS IN BARRELS AL POUNDS(A) FI
S POUNDS) (POUNDS) TOTAL POUNDS(A) FIRMS*
WHOLE MILK 6,222 2,017,068 3,162,617 20
SKIM MILK 14,970,717 22,397,490 37,394,495** 125
PART SKIM 0 45,102 72,455 3
CREAM POWDER 0 31,705 31,705 2
BUTTERMILK 7,268,297 256,299 7,524,596 74
A) INCLUDES CASE GOODS AS FOLLOWS: WHOLEMILK I,139,327POUNDS;
SKIM MILK 26,288 POUNDS' PART SKIM, 27,353 POUNDS.
**EQUIVALENT TO 47 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 1, WERE EQUAL TO APPROXIMATELY
47 DAYS' REQUIREMENTS, IN COMPARISON WITH 48 DAYS ON OCTOBER I,
1934: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
NOVEMBER I, 1933 WERE THE EQUIVALENT OF A 23 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
FIRMS* Nov. 1 1934 Nov. 1,1933 FIRMS* Nov. 1,1934 OCT. ,1934
WHOLE MILK 20 3,162,617 2,770,688 20 3,162,617 3,437,649
SKIM MILK 119 37,023.636 17,003,544 123 37,373,114 38,104,472
PART SKIM 3 72,455 109,068 3 72,455 79,468
CREAM POWDER 2 31,705 40,358 2 31,705 36,261


BUTTERMILK


70


7.312.536


4.014.393


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

(OVER)
NOVEMBER 1934
*


7,376,294 I 7,162,899
OF FACTORIES SINCE SOME


UNIV. OF FL LI. .
UM. EDTDEPT.



U.S. DEPOMTORY
6 POTR


7.5
6.75
6.75
8.5
6.75


_ _1 _





PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS OCTOBER


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF
DRY MCLK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* OCT. 1934 OCT. 1933 FIRMS* OCT. 1934 SEPT.1934

WHOLE MILK 19 1,523,129 993,075 19 1,523,129 1,519,420

SKIM MILK 118 20,047,437 21,045,555 122 20,492,696 19,954,347
PART SKIM 3 20,466 82,749 3 20,466 34,802

CREAM PO'.'DER 2 65 ...12,106 2 65 18,243

BUTTERMILK 68 2,731,002 2,568,553 70 2,752,952 2,825,677
REPORTS INDICATE THAT OCTOBER PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 14.32 BARRELS 71.69& CASES 13.99%.
DRY SKIM MILK: 41.0 (8,423,714 LBS) 59.00( 12,11-9,681 LBS)
DRY BUTTERMILK: "I 91.846(2,561,348 LBS) 8.1 6( 227 662 LBS)
PRODUCTION DRY, SKIM MILK SEPTEMBER 1934 (INcLUDING LATE REPORTS BAGS 7,946,727
POUNDS (39.37%); BARRELS 12,235,459 LBS. (60.631); TOTAL 20,182,196 LBS.
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 OCTOBER 1934


EXPORTS
EXPORTS TO
EUROPE
SPAIlN
NORTH AMERICA
HONDURAS
MEXICO
NETHERLAND W. INDIES
PANAMA
SOUTH AMERICA
COLOMBIA
PERU
VENEZUELA
ASIA
TONG KONG
OCEANIA
HHILIPPINE IS.
OTHER COUNTRIES


POUNDS

11,475

4 810
8 330
4 904
23,806

1-0 569
7 051
33,637

5,461


IMPORTS
IMPORTS TO
EUROPE
SWITZERLAND
UNITED KINGDOM


POUNDS

132
344


TOTAL OCTOBER 1934 162,618 TOTAL OCTOBER 1934 476
TOTAL OCTOBER 1933 214,819 TOTAL OCTOBER 1933 13,329
JAN. OCT. (INC,).1934 2,703,208 JAN. OCT. (INC.) 1934 3,347
JAN. OCT. (INC.) 1933 2,092,348 JAN. OCT. (INC.) 1933 468,854
In-7A1 07*


CASEIN IMPORTS OCTOBER
CASEIN IMPORTS JAN..- OCT._(INC.).

DRY MILK MARKETS MOSTLY IRREGULAR
CAUSE SOME


120,396 LBS.
1,256,517 LBS.


1933
1,225,804 LBS.
7,.721,718 LBS.,


ALTHOUGH PROPOSED RELIEF PURCHASES
IMPROVEMENT


THE DRY MILK MARKETS IN OCTOBER
WERE MILDLY IRREGULAR, ALTHOUGH SENTIMENT
SEEMED TO BE SOMEWHAT STRONGER FOLLOWING
THE PUBLICATION OF THE CALL FOR BIDS ON
APPROXIMATELY 9,000,000 POUNDS OF DRY SKIM.
MILK PROPOSED TO BE PURCHASED FOR RELIEF
DISTRIBUTION BY FEDERAL AGENCIES. IT IS
HELD THAT THE REMOVAL OF SUCH AN AMOUNT
FROM THE USUAL CHANNELS OF DISTRIBUTION
AND CONSUMPTION WOULD HAVE A VERY
STRENGTHENING EFFECT UPON THE DRY MILK
MARKETS. IT SHOULD REDUCE THE PRESENT
HEAVY STOCKS WHICH HAVE BEEN OVERSHADOW-
ING THE MARKET FOR THE PAST SEVERAL MONTHS
TO A POINT NOT SO FAR ABOVE THAT OF THE
5-YEAR AVERAGE. WITH THE IMPROVEMENT IN
DEMAND THAT IS EXPECTED TO FOLLOW THE
CURRENT REVIVAL OF CONFIDENCE IN THE
EXPANSION OF BUSINESS AND INDUSTRIAL
ACTIVITIES, THE REGULAR OUTLETS FOR DRY
SKIM MILK SHOULD THEN BE ABLE TO ABSORB
THE REMAINING SUPPLIES WITHOUT DIFFICULTY.

SALES OF DRY SKIM MILK IN OCTOBER
AS REPORTED TO THE U.S. BUREAU OF AGRI-
CULTURAL ECONOMICS AMOUNTED TO 21,598,000
POUNDS, A SLIGHT INCREASE OVER THE SALES
REPORTED FOR THE PREVIOUS MONTH, AND AN
INCREASE OF ALMOST 10 PERCENT OVER THOSE
FOR OCTOBER LAST YEAR. PRODUCTION IN
OCTOBER DID NOT SHOW THE FULL SEASONAL
GAIN OVER SEPTEMBER, AND FOR THE FIRST
TIME THIS YEAR DROPPED BELOW THAT OF THE
CORRESPONDING MONTH A YEAR EARLIER. WITH
THE VOLUME OF SALES EXCEEDING PRODUCTION,
FURTHER WITHDRAWALS WERE MADE FROM STOCKS
PREVIOUSLY ACCUMULATED. ALTHOUGH THIS
REDUCTION WAS RELATIVELY SMALL, AMOUNTING
TO LESS THAN ONE MILLION POUNDS, IT WAS
SLIGHTLY ENCOURAGING AS GOING AGAINST
THE FIVE-YEAR AVERAGE TREND FOR THE TWO


MONTHS. TOTAL STOCKS OF DRY SKIM MILK
POWDER REPORTED BY MANUFACTURERS. ON THE
FIRST OF NOVEMBER AMOUNTED TO 37,394,000
POUNDS, THE EQUIVALENT OF 47 DAYS' SUPPLY
COMPARED WITH 48 DAYS' SUPPLY ON
OCTOBER I, THIS YEAR, AND 23 DAYS' SUPPLY
ON NOVEMBER I, LAST YEAR.

THE MARKET ON OTHER DRY MILK
PRODUCTS HELD RELATIVELY STEADY AND
UNCHANGED ON DRY WHOLE MILK TO SLIGHTLY
EASY ON DRY BUTTERMILK. PRODUCTION OF
DRY WHOLE MILK IN OCTOBER WAS ABOUT 53
PERCENT LARGER THAN IN OCTOBER LAST YEAR,
BUT AS SALES WERE ALSO SUBSTANTIALLY
LARGER, STOCKS FOLLOWED THE USUAL
SEASONAL DOWNWARD TREND. PRODUCTION OF
DRY BUTTERMILK WAS ABOUT 6.3 PERCENT
LARGER THAN IN OCTOBER OF THE PREVIOUS
YEAR. SALES WERE ALSO LARGER, BUT NOT
ENOUGH TO OFFSET THE INCREASE IN PRO'
DUCTION, AND STOCKS REPORTED BY MANU-
FACTURERS MADE A CONTRA-SEASONAL GAIN.

CASEIN MARKETS IN NOVEMBER WERE
DECIDEDLY WEAKER AT EASTERN POINTS.
SUPPLIES SEEM TO BE HEAVY WITH BUT
LITTLE DEMAND AT THE' PRESENT MOMENT.
MANY LARGE CASEIN USERS ARE DRAWING
UPON SUPPLIES ACCUMULATED EARLIER IN
THE SEASON. PRICES ON CASEIN IN
CARLOTS ARE DIFFICULT TO QUOTE, BUT
APPARENTLY ARE HOLDING WITHIN A RANGE
OF 9 -TO .10 CENTS FOR STANDARD 20 TO 30
MESH. JOBBING PRICES REPORTED TO BE
AROUND 12 ON 30 MESH, 130 ON 20 MESH,
AND 140 ON 100 MESH$ WITH SOME OF THE
BEST BRINGING AROUND II TO I I CENTS,
ALL DELIVERIES BEING F. 0. B. ATLANTIC
SEABOARD.


NOVEMBER 1934


ISL9 6.L90 z91. c

I OI 1 lIII I Io Ai1is AiN
V0 Oh10IJ AIS::IAINn


PAGE 2






DECEMBER 31., 1934


UNITEDE D STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
MARKET NEWS SERVICE


DRY MILK MARKET REPORT FOR DECEMBER 1934
MANUFACTURERS' WHOLESALE SELLING PRICES DURING NOVEMBER
THE WHOLESALE PRICES GIVEN BELOW. ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBrERS; WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE BA3IS 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
(BULK GOODS_ _
REPORTED SALES
POUNDS


PRICE IN BAGS
2 3 230,200
3 3S 1,879,965
3- 4 4,693,301
4 4- 916,733
4; 5 398,198
5 5 100,075
5 6 345,469
6 62 21,428
61 7
7 7-
72 8
8 81


IN BBLS.


8.1 ,376
18,600
91,850
.209,040
1,533,171
3,511,837
2,479,247
4,401,738
313,740
1,124,500
4,000


DRY WHOLE MILK
(BULK GOODS)


REPORTED SA


PRICE


- 145

- 16
-: 18 5
[7T6J
2 T


ALES

POUNDS
500,237
440,551
133.,960
71,81 1
9,544


PRICE


DRY BUTTERMILK
BULK GOODS)
REPORTED SALES
POUNDS
IN BAGS IN BBLS.


752,045
1,136,748
576,663


35,139
72,904
80,520
5,500


TOTAL 8,585,369 13,769,099 1,156,103 2,465,456 194,063
GRAND TOTAL' 22,354,468 1,156,103 2,659,519


AVERAGE PF
NOV. 193
OCT. 193
NOV. 193

DRY WHOLE


RICE 3.740 6.100
34 5.190
54 5.32d
53 6.23
WHOLESALE PRICES
MILK (I LB. CANS)


14.550
14.45,t
14.828


REPORTED ON CASE GOODS
35.040 PER POUND.


3.720 6.080
3.900
3.800
S _- 4.820


WERE AS FOLLOWS:


WHOLESALE SELLING PRICES F.O.B. DISTRIBUTING POINTS -'NOVEMBER


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


DRY SKI'M MILK
BAGS BBLS. (CENTS PER LB.)
3.5 6 5 8.5 KANSAS CITY
3.25 G 5.132- 8.5 SEATTLE
3.65 6 5 8.5 PORTLAND
3.5 .- 6 5.25 8.5 Los ANGELES
6 6.5 8.5 SAN FRANCISCO
3.5 6 6.5 8.5


BAGS

4 4.5
4 4.5
4.5
4.5


BBLS.
7 -.7.5
5.75 6.75
5.5 .- 6.75
6.5 8
6.27 6.75


MANUFACTURERS STOCKS OF DRY MILK

TOTAL STOCKS ON HAND INCLUDE ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY .HEM 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 PUT NOT DELIVERED.

TOTAL STOCKS ON HAND
CLASSES'OFI DECEMBER 1,- 1934
DRY MILK IN BAGS .IN BARRELS TOTAL POUNDS(A) FIRMS
WL (POUNDS) POUNDS)

WHOLE vilLK 42,712 : .1,70,707 2,606,565 22
SKIM MILK 13,689,314 19,804,563 33,515,958** 127

PART SKIM 0 44,832 68.841 3I

II
CREAM POJ"JDER 0 28.583 28,588 2

BUTTERMILK 6,191,044 244,719 6,435,763 78
A) INCLUDES CASE GOODS AS' FOLLOWS: WHOLE MILK 993,146 POUNDS;
SKIM MILK 22,081 POUNDS P ART SKIM 24,009 POUNDS.
**EQUIVALENT TO 41 DAYS REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU. OF AdRICULTURALECONOMICS, STOCKS
OF DRY SKIM MILK ON DECEMBER I,'WERE EQUAL TO APPROXIMATELY
41 DAYS' REQUIREMENTS IN COMPARISON WITH 47 DAYS ON NOVEMBER I,
IS34: CALCULATED ON THE SAME B*SI'S A YEAR AGO, STOCKS ON HAND
DECEMBER I, 1933 WERE THE EQUIVALENT OF A 26 DAYS' SUPPLY.

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


CLAS.ES OF
DRY FAI.LK


WHOLE MILK
SKIM MILK


PART SKIM


PREVIOUS-YEAR


FIRMS*' DEC. 1 1934


22 [
122


3


2.,606,565 1


33.229.498


68.941 i


+ I-


DEC. I1,133
2,812.870


I R 552. c965


. 142.275


CREAM POWDER 2 28,58.8 .35,501

BUTTERMILK ___75 ___6,285,092 4,111,228
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT
FIRMS OPERATE MORE THAN QNE FACTORY.

(OVER)
DE-EMBER 1 934


PREVIOUS MONTH


F I RMS"
22


2

:77


DEC. I I.~ -
2,606,565


33,515,958


68.841


28,588

6,413,363


Nov. 1.,61934
3.162.617


37,285,320


:72,455


S 7,641,396


NUMBER OF FACTORIES SINCE SOME


UNIV. OF: FL LII.
DOCUMENT. DPPT


WASHINGTON, D.C.


-.~--- -.-- I


I


-- P .1. .-- -


I I -- p 11


, ,


I


vU-.


---- -----1- ------e----


I


I I Z) ,


.-- L





PRODUCTION" OF DRY ".ILK REPORTED BY MANUFACTURERS NOVEMBER


PAGE 2


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATFSi


CLAUSES OF- COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF -
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
SFIRMs*! Nov. 1934 I Nov. 1933 FIRMS* Nov. 1934 OCT. 1934
WHOLE MILK 22 913,551 I 1211,404 22 913,551 1,523,129

SKIM MILK 120 i 16,711,046 18,934,698 125 17,023,986 20,356.354
..PART SKIM 3 3 13,285 86,352 3 13,285 20,466

CREAM POWDER 2 i 1,712 393 2 1,712 65

BUTTERMILK 75 2,354,541 2,264.268 77 2.397.207 2,805.913
REPORTS INDICATE THAT NOVEMBER PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 18.34 BARRELS 72.26 CASES 9.40S
DRY SKIM MILK: i 39.79M 6,774,008 LBS) I 60.19J(10,246,917 Les) 0.02O
DRY BUTTERMILK: 93.51o(2,246,676 LBS) 6.49( 156,051 LBS)
PRODUCT ON DRY SKIM MILK OCTOBER 1934 (INCL DING LTE REPORTS) BAGS 8,530,387
POUNDS (41.28%); BARRELS 12,136,007 LBS. (58.72); TOTAL 20,666,394 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


EXPORTS
EXPORTS TO
EUROPE
UNITED KINGDOM
NORTH AMERICA
NETHERLANDW. INDIES
NEWFOUNDLAND & LABRADOR
PANAMA
SOUTH AMERICA
ARGENTINA
COLOMBIA
VENEZUELA
ASIA
-CI NA
SlAM
OCEANIA
PHILIPPINE Is.
OTHER COUNTRIES


~~~1*


POUNDS

14,900

21,614
9,320
25,502

32 000
9 275
12,922

10,895
S5900

31,811
59.396


IMPORTS FROM


NOVEMBER 1934


IMPORTS


POUNDS


TOTAL NOVEMBER 1934 233,535 TOTAL NOVEMBER 1934 0
TOTAL NOVEMBER 1933 196,138 TOTAL NOVEMBER 1933 65,538
JAN. NOV. (INC.) 1934 2.942,893* JAN. NOV. (INC.) 1934 3,347
JAN. NOV. (INC.) 1933 2,288,486 JAN. NOV. (INC.) 1933 534,392
f 5R 1--------- ----------------- 9 37 A --------- 1 937


I. V I SE.. j I 1
CASEIN IMPORTS NOVEMBER 86,9T5 LBS.
CASEIN IMPORTS JAN. NOV(INC ) 1,343, LBS.
MARKET ON DRY SKIM MILK IMPROVES


3,0,759 LBS.
8,082,477 LBS.


GENERALLY SPEAKING, THE DRY MILK
MARKETS WORKED INTO A SLIGHTLY FIRMER
POSITION DURING NOVEMBER, SAYS THE U.S.
BUREAU OF AGRICULTURAL ECONOMICS. TOTAL
SALES REPORTED BY MANUFACTURERS TO THE
BUREAU WERE ABOUT 750,000 POUNDS LARGER
THAN THOSE OF OCTOBER, PRODUCTION SHOWED
A GREATER THAN USUAL SEASONAL DECLINE,
AND THE RECENTLY HEAVY STOCKS HELD BY
MANUFACTURERS WERE REDUCED. THE LARGE
STOCKS OF DRY SKIM MILK ACCUMULATED BY
USERS OF THAT PRODUCT LAST SPRING AND
EARLY SUMMER ARE BEGINNING TO SHOW SOME
EVIDENCE OF BEING USED UP. THESE BUYERS
ARE NOW BACK IN THE MARKET TO A LIMITED.
EXTENT, AND AS A RESULT THE DEMAND FOR
CURRENT CONSUMPTION IS DEVELOPING A
FIRMER TONE.

PRIOR TO NOVEMBER,HEAVY PRODUCTION
AND GRADUALLY INCREASING STOCKS OF DRY
SKIM MILK CREATED A GENERAL FEELING OF
PESSIMISM IN THE DRY MILK INDUSTRY,
FINALLY LEADING TO A PROPOSAL THAT THE
FEDERAL GOVERNMENT PURCHASE A SUBSTANTIAL
AMOUNT OF DRY SKIM MILK FOR RELIEF
PURPOSES. ALTHOUGH NO ACTUAL PURCHASES
OF THAT NATURE HAVE AS YET BEEN MADE, SUCH
BIDS HAVE BEEN REQUESTED WITH THE OBJECT
OF USING DRY SKIM MILK TO SUPPLEMENT THE
DIET OF THOSE ON RELIEF. THIS POSSI-
BILITY OF FEDERAL PURCHASES, THEREFORE,
TOGETHER WITH A DECLINE IN PRODUCTION
AND AN IMPROVEMENT IN DEMAND, HAS BROUGHT
ABOUT A MUCH BETTER FEELING AND A FIRMER
TONE TO THE MARKETS. STOCKS OF DRY SKIM
MILK IN THE HANDS OF MANUFACTURERS ON
DECEMBER 1 AMOUNTED TO 33,516,000 POUNDS,
THE EQUIVALENT OF 41 DAYS SUPPLY COMPARED
TO 47 DAYS SUPPLY ON HAND AS OF NOVEMBER I.
ON DECEMBER I EXCESS STOCKS OVER THOSE OF


A YEAR EARLIER EQUALLED A 15 DAYS SUPPLY,
:BUT ON NOVEMBER SUCH EXCESS AMOUNTED
TO 24 lAYS SUPPLY. STOCKS OF OTHER
CLASSES OF DRIED MILK LIKEWISE SHOWED
IMPROVEMENT, ALTHOUGH LESS MARKED THAN
IN THE CASE OF DRY SKIM MILK.

PRODUCTION OF DRY SKIM MILK IN
NOVEMBER WAS 11.7 PERCENT SMALLER THAN
IN NOVEMBER LAST YEAR, AND 16.4 PERCENT
SMALLER THAN IN OCTOBER. DRY WHOLE MILK
SWAS DOWN 24.6 PERCENT FROM LAST YEAR,
AND 40.0 PERCENT FROM OCTOBER. DRY
BUTTERMILK DECREASED SEASONALLY FROM
OCTOBER, BUT WAS SLIGHTLY LARGER THAN IN
NOVEMBER LAST YEAR. THE COMBINED FACTORS
OF A GENERAL SHORTAGE IN FEED SUPPLIES
AND COLDER WEATHER ARE LEADING TO A
DECREASE IN THE PRODUCTION OF MOST' MANU-
FACTURED DAIRY PRODUCTS. THIS TREND IN
PRODUCTION IS EXPECTED TO CONTINUE AT
LEAST UNTIL THE EARLY PASTURE SEASON OF
1935.
CASEIN MARKETS IN DECEMBER WERE A
SHADE FIRMER, ALTHOUGH NO GENERAL
ACTIVITY OF STRENGTH WAS NOTED. DEMAND
WAS SLOW WITH NO BUYING IN VOLUME. MOST
DEALERS, HOWEVER, SEEMED TO ANTICIPATE
IAN IMPROVED MARKET SHORTLY AND SHOWED
NO DISPOSITION TO PUSH SALES EVEN AT
PREVAILING PRICES. CARLOT SALES WERE
SCARCE AT 3- TO 10 CENTS FOR STANDARD
20-30 MESH, F. 0. B. ATLANTIC SEABOARD.
THE BETTER GRADES OF CASEIN.WERE QUOTED
AT I TO I CENTS PREMIUM. JOBBING
UOTATIONS WERE NOMINAL AT AROUND
12 TO 12g CENTS FOR 30 MESH,
AND 30 CENTS FOR 70 MESH.


DECEMBER 1934


/Sll lll lllllli C

V OI Od 0 AIlS3AINn




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