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 )
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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:
AA00011437:00008

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


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Full Text



JANUARY 29, 1937.


UNITED.STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
DRY MILK MARKET REPORT FOR JANUARY 1937


COVER
F.0.B.
MAY RF


MANUFACTURERS' WHOLESALE SELLING PRICES DURING DECEMBER
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
NG ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
FACTORY ON THE BASIS OF CASH OR SHORT TIME CREDIT. ]DE RANGES IN PRICES
I N 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.
4- 50 16,962 16 -- 17-0 51,925 5 5 12,200 -
5 5 11,550 17 8 6 862,219-
- 6 9,873 18- 19 10,045 6- 71- 716,366
6 9 20 447,518 7 8- 1,258,197
6k- 7 1,874,819 20' 21- 38,025 8 92 100 127,611
7 7- 1,343,313 21 221 192,250 9- 12,870
7' 8 1,886,255 489,634 I10- -
8 8 18,364 872,010 I I- 12 5,000
8 9 2,698,710
9 91 27,300 1,866,387
9 10 206,893 6,195,880
10 10 4,264,891
O0I- 1 1 ,598,359
II -l1- 487,712
TOTAL 5,423,048 18,473,583 739,763 2,849,082 145,481
GRAND TOTAL 23,896,631 739,763 2,994,563
AVERAGE PRICE 7.200 9.610 6.970 9.26
DEC. 1936 9.06 20.490 7.080
NOV. 1936 8.890 20.780 7.010
DEC. 1935 6.910 15.700 5.640


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
DRY WHOLE MILK (I LB. CANS) 35.190 PER POUND.


AS FOLLOWS:


WHOLESALE SELLING PRICES FOB DISTRIBUTING POINTS DECEMBER
DRY SKIM MILK
(CENTS PER LBS.)


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


BAGS BBLS.
7.5 8 9 1I.
6.25 11 8,65 I,
8,82 1
7 9 8.5 11.
8.5 II.
.7 8 8.35 I


5
75

75
75


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

4.5 8.5

6.75
6.75


BBLS.
9 11.5
7,75 10.75
8,83 10,25
8.75 11.25
9.17 10,75


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 (UNSOLD) FOR WAREHOUSE CONSIGNMENT, ANC
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.


(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,363,043
LBS SKIM 27 707 LBSS PART SKIM 36,089 POUNDS.
**EQUIVALENT T6 34 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 JAN. 1, WERE EQUAL TO APPROXIMATELY 34
DAYSt REQUIREMENTS IN COMPARISON WITH 32 DAYS ON DEC.1,1936:
CALCULATED ON THE SAME BASIS A YEAR AGO STOCKS ON HAND
JAN. I, 1936 WERE THE EQUIVALENT OF AN 8 DAYSI SUPPLY.
TOTAL STOCKS DEC. I, 1936 (INCLUDING LATE REPORTS): DRY WHOLE
MILK 4,098,206 LBS; DRY SKIM MILK 29,103,726 LBS; DRY BUTTER-
MILK 3,390,046 LBS.


U- -
o ,.

S0 0"
II
_____


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS


TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING


CLASSES OF
DRY MILK


PREVIOUS YEAR


RIF MS* AN I 1 937


SIJAN I1 1936


PREVIOUS MONTH


FIRMS* JAN. 1 ,1937


DEC. 1 ,1936


WHOLE MILK 21 3,929,940 3,027,982 21 3,929,940 4,098,206
SKIM MILK 114 30,969,975 6,976,355 120 31,039,392 28,994,037
PART SKIM 3 61,991 67,186 3 61,991 67,761
CREAM POWDER 2 0 69 2 94 1,051


BUTTERMILK


3.376.479


4.nn04. n


___L -- J -.- .


3.430.179


3.368.346


* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER)
JANUARY 1937


WASHINGTON, D.C.


TOTAL STOCKS ON HAND
CLASSES OF JANUARY 1, 1937
DRY MILK IN BAGQ IN BARRELS TOTAL POUNDS(A) FIRMS
POUNDS)TOTAL POUNDS(A) F
WHOLE MILK 4,244 2,562,653 3,929,940 21
SKIM MILK 8,927.329 22,117,544 31,072,580** 122
PART SKIM 0 25,902 61,991 3
CREAM POWDER 0 94 _94 3
BUTTERMILK 3.153.527 277.952 3,431,479_ 66


L-


, z


I







PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS DECEMBER:


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES,
COMPARES O OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* DEC. 1936 DEC. 1935 FIRMS* DEC. 1936 NOv. 1936
NVHOLE MILK 17 837,927 945,464 IS 844,789 904,504
SKfM MILK III 22,578,699 15.338,965 117 22,850,930 20,230,149
PART SKIM 3 46,245 59,770 3 1 46,245 51,332
.CREAM POWDER 2 2,168 4,817
BUTTERMILK 60 3,000,288 4,206,490 66 3,081 888 3,217,245
REPORTS INDICATE THAT DECEMBER PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK; BAGS 9.47' BARRELS 81.58% CASES 8.95%
DRY SKIM MILK: 27.54%(6,312,801 LBS) 72.43:(16,605,250 LBS) 0.03%.
DRY BUTTERMILK: "1 96.08%(2,962,402 LBS) 3.92( 120,886 LBS)
PRODUCTION DRY SKIM MILK NOVEMBER 1936 (INCLUDING LATE REPORTS) BAGS 5,586,798 LBS.
.27.43o); BARRELS 14,781,018 POUNDS (72.56fo); CASES, 0.01\7. TOTAL 20,369,246 LBS.8
(SUBJECT TO REVISION,)
PRODUCTION DRY SKIM MILK OCTOBER, 1935, 20,160,000 LBS. (FINAL FIGURE).
NOVEMBER, 1935, 14 372,000 LBS. "I "
t" "I' DECEMBER, 1935, 17,713,000 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 NOVEMBER 1936


EXPORTS


IMPORTS


TOfAL NOVEMBER 1936
TOTAL NOVEMBER 1935
JAN. NOV, (INC.) 1936
JAN. NOV. (INC.) 1935


CASEIN IMPORTS NOVEMBER
CASEIN IMPORTS JAN. NOV.


POUNDS
322,399
230,013
3,508,745
2,522,781


(INC.)


TOTAL NOVEMBER 1936
TOTAL NOVEMBER 1935
JAN. NOV. (INC.) 1936
JAN. NOV. (INC.) 1935


1936
603,287 LBS.
15,357,646 LBS.


POUNDS
893,456
1,810
23,862,642
2,392,464


1935
168,403 LBS.
1,679,800 LBS.


PRODUCTION AND SALES OF DRY SKIM MILK IN DECEMBER SET NEW RECORDS FOR THAT MONTH
STOCKS INCREASED


The sale of dry skim milk in December
1936, set a new high record for December,
according to reports made by manufacturers to
the Bureau of Agricultural Economics. The
average price of 9.06 cents per pound for the
December sales equalled the October average,
the highest for any month since March, 1928,
when the average price was also 9.06 cents.
Although theDecember average was only .2 cent
higher than that for November, it was 2.15
cents higher than in December, 1935. The
average price reported for the December sales
of dry whole milk was fractionally lower than
the November average but 4.7 cents higher than
a year earlier. The price on dry buttermilk
was practically unchanged from the previous
month, but 1.4 cents higher than in 1935.

Perhaps the most important development
in the dry milk situation during December was
the large increase in production. Reports
-from leading manufacturers indicate that the
output of dry skim milk in that month was
approximately 47.0 percent larger than in
December 1935, and probably one of the largest
December productions of record. This increase
followed the trend in the production of manu-
factured dairy products generally, which was
influenced by the mild weather and moderately
heavy milk flow in the leading dairy States
up to the close of the year. The increase in
the output of dry skim milk, however, was
somewhat larger than the increase in the
production of other manufactured dairy products,
due chiefly to the prevailing high prices for
skim milk powder which have caused the
diversion of milk supplies from other uses
into the manufacture of dry skim milk.

The production of dry skim milk in
December was somewhat in excess of the current
requirements, an unusual occurrence for that
season of the year, and stocks reported by
manufacturers showed an increase instead of a


.VLL 6UL80 Z9ZI

VOIo-1 do0 AIIS:3AINn


normal seasonal decrease. On the basis of the
5-year (1931-35) average, stocks of dry skim
milk usually decrease 2,000,000 pounds, but
this year, on account of the heavy December
production, there was an increase of about
2,000,000 pounds from December 1 to January 1.
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 skin milk reported by manufacturers on
January 1, 1937, were the equivalent of
34 days' supply conp,,rod to only 8 days'
supply on January 1, 1936. Stocks of dry whole
milk and dry buttermilk showed but little
change during December, but stocks of dry whole
milk were about 900,000 pounds larger than on
January 1, 1936, while stocks of dry buttermilk
were about 600,000 pounds less.

The heavy production of dry skim milk
in December and the increase in stocks held by
manufacturers brought a note of caution into
the January markets. Prices on the whole were
well maintained despite a little irregularity,
but buyers were inclined to go slowly in making
extensive commitments.

The casein market in January was full
steady to firm, with deliveries on some grades
difficult to obtain at times. Demand has
widened, and with supplies light, prices have
worked sharply higher. Quotations on carlots
delivered Eastern Seaboard points mostly 19s-
to 20 cents for 20 to 30 mesh. Sales of 60 to
70 mesh very small and quotations difficult to
establish. Some slowing up of buying was
reported following the sharp advance in prices,
but the market was still considered firm at
the close of the month. Casein prices are
reported higher in foreign countries and very
little casein being imported at the present
time.


JANUARY 1937


PAGE 2








FEBRUARY 26, 1937


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECON:.;1ic


DRY MILK MARKET REPORT FOR FEBRUARY 1937
MANUFACTURERS1 WHOLESALE SELLING PRICES DURING JANUARY
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMIL/.R BUYERS FOR GOODS
F.0.B. FACTORY ON THE BASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES


IN PART ATTRIBUTED TO DI


qRY SKIM MILK
(BULK GOODS


FFERENCES IN


I DRY WHOLE MI K
"TULK GOODS)


QUALITY OR GRADE OF PRODUCT SOLD.


DRY BUTTERMILK
('ULK GOODS)


REPORTED SALES REPORTED SALES REPORTED SALES
PUJNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
5 -5 23,462 15--16-i 41,725 5- 6 663,175
5 -6 18,0C5 16 -17k 600 6- 7- 1,540,536 -
6 -61 514,338 17-18 -8 7- 8- 235,326 46,376
68 -7 2,063,884 18 -19- 37,525 8 9 68,460
7 -7 1,921,890 40,200 19' -202 499,311 y -IO 6,750
7. -8 1,664,009 951,358 20o -21. 143,420 0- -II -
8 -8- 12,741 554,747 II -12 3,700
8- -9 1,391,314
9 -9 157,943 2,232,182
9) -10 190,350 5,161,061
10 -10- 2,947,697
10-1I1 1,650,908
II -Ii- 334,150
11-12 14,400

TOTAL 6,569,623 15,278,017 722,581 2,439,037 123,286
GRAND TOTAL 21,847,640 i 722,581 2,564,323


PRICE 7.140


8,860
9.060
7.40'A


9.61I


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


19.700
20.491
17.051


REPORTED ON CASE GOODS
- 36.390 PER POUND.


6.S60 8.770
7.050
7.080
6.42S
WERE AS FOLLOWS:


WHOLESALE SELLING PRICES FOB DISTRIBUTING POINTS JANUARY


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. LOUIS


.BAGS
7.5 8
6.25 1I


DRY SKIM MILK
(CENTS PER LBS.)
SBBLS
9 11.5 KANSAS CITY
8.59 11.75 SEATTLE


- 8.75 I


6.9 11


8.39 -. 11.75


PORTLAND
Los ANGELES
SAN FRANCISCO


I 8.5 11.75
7 8 8.35 II


-BAGS .- -BBLS.
9 1.5
6.5 8.02 8.75 10.5
4.5 8.5 7.75 -10.75


6.75
6.75


8.75 -11;25
9.17 -10,75


MANUFACTURERS' STOCKS OF DRY MILK
TOTAL STOCKS ON HAND INCLUDE ALL STOCKS IN POSSESSION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM 9R 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 SbOUUC UN HANU
CLASSES OF FEBRUARY I, 1937
--.-- ...... DRY MILK IN BAGS IN BARRELS TOTAL POUNDS FIRMS*
(POUNDS) (POUNDS) (A)
WHOLE MILK 12,049 2,345,934 3,573,277 22
SKIM MILK 9,098,710 26,227,414 35,356,3i7** 123
SPART SKIM 47,730 79,714 3
SCREAM POWDER 0 5721 721 2
BUTTERMILK i3,855,351 252,580 4,105.931 67


(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,215,294
LBS .SKIM 30,193 .LBS PART SKIM 31,984 LBS.
**EQUIVALENT TO 39 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 FEB. I, WERE EQUAL TO APPROXIMATELY 39
DAYS' REQUIREMENTS IN COMPARISON WITH 34 DAYS ON JAN. 1,1937:
CALCULATED ON THE SAME BASIS A YEAR AGO STOCKS ON HAND
FEB. 1, 1936 WERE THE EQUIVALENT OF AN 6 DAYS' SUPPLY.
TOTAL STOCKS JAN. I, 1937 (INCLUDING LATE REPORTS) DRY WHOLE
MILK3, 929,940 LBS; DRY SKIM MILK 31,178,959 LBS; DRY BUTTER-
MILK 3 ,496,054 LBs.
COMPARISON OF TOTAI STOCKS REPORTED RVBY MANUFACTIIRERS


CLASSES OF TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
DRY MIL FIRMS* FEB. 937 FEB. 1,1936 FIRMs* eB. 1,-1937 JAN. I, 1937
WHOLE MILK 20 3.570.498 2.518,911 22 3,573,277 3,929,940
KIM MILK I. rT2 34,89,214 ,bbI1Ib. 121i 5b,Eb2,8e2b 3 $I,Ulb,134
PART SKIM 3 79,714 72,934 3 79,714 61,991
CREAM POWDER 2 0 69 2- 721 94
BUTTERMILK 61 4,050,83 1 1,931,589 67 4,105,931 1 3,455.554
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE
SOME FIRMS OPERATE MORE THAN ONE FACTORY,
FEBRUARY 1937


MANY BE


WASHINGTON, D.C.


AVERAGE
JAN.
DEC.
JAN.


1937
1936
1936


- --


....... .. M I INw


'









PRODUCTION 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. 1937 JAN. 1936 FIRMS* JAN. 1937 DEC. 1936
WH('LE MILK. 19 584,542 742,218 21 595,260 844,789
SKIM MILK 107 22,565,625 17,629,807 117 23,044,361 22,803,546
PART SKIM 2 52,666 68107 2 52,666 46,245
CREAM POWDER 2 2,202 2,168
BUTTERMILK 60 3,151,070 4,016,329 65 3,213,770 3,090,718
REPORTS INDICATE THAT JANUARY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS BARRELS 92.04% CASES 7.96 .
DRY SKIM MILK: 26.96%(6,214,154 LBS) 73.00%(16,827,224 LBS) 0.04I,
DRY BUTTERMILK: I" 96.11'(3,088,683 LBS) 3.89"( 125,087 LBs)
PRODUCTION DRY SKIM MILK DECEMBER 1936 (INCLUDING LATE REPORTS) BAGS 6,362,629 LBS.
(27.65%); BARRELS 16,643,283 POUNDS (72.32%); CASES, 0.03%; TOTAL 23,012,787 LBS.
(SUBJECT TO REVISION.)
PRODUCTION DRY SKIM MILK DECEMBER, 1935, 17,713,000 LO. (FINAL FIGURE).
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 DECEMBER 1936


EXPORTS


TOTAL DECEMBER 1936
TOTAL DECEMBER 1935
JAN. DEC. (INC.) 1936
JAN. DEC. (INC.) 1935


POUNDS
216,279
219,306
3,725,023
2,742,087


IMPORTS

TOTAL DECEMBER 1938
TOTAL DECEMBER 1935
JAN. DEC. (INC.) 1936
JAN. DEC. (INC.) 1935


POUNDS
707,966
346,653
24,570,608
2,739,117


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


1936
851,257 LBS.
16,208,903 LBS.


1935
1,549,906 LBS.
3,229,706 LBS.


HEAVY PRODUCTION OF DRY MILK


Dry milk markets in February were
unsettled, with prices somewhat lower. Pro-
duction of dry skim milk continued heavy for
this season of the year and in excess of current
requirements, as a further contra-seasonal
accumulation of stocks was reported. Sales by
manufacturers in January were sharply above
those of a year earlier, but some slowing up in
February was reported as buyers were apparently
waiting for a clearer view of the trend of
prices before making any heavy commitments.
The Agricultural Adjustment Administration
called for bids, on 3,000,000 pounds of dry
skim milk during the month but no awards wore
made.

Sales of dry skim milk in January as
reported by manufacturers s amounted to 21,847,000
pounds, a drop of about 2,000,000 pounds from
the December sales, but an increase of
2,000,000 pounds over the sales of January,
last year. With the exception of 1934, the
sales in January this year were the largest for
that month ever before reported.

The average price received for dry skim
milk in January declined fractionally from 9.06
cents per pound in December to 8.86 cents per
pound, dur chiefly to: lower prices on sales for
animal feed. The price-on dry skim milk in
barrels remained unchanged. The average price
in January on both dry skim milk in barrels and
bags, however, was still 2.46 cents per pound.
higher than a year earlier. The average prices
on sales of dry whole milk and dry buttermilk
were also slightly lower than in December, but
still well above the prices in January last


IN FEBRUARY MARKET UNSETTLED


year.

The cause for the present irregularity
in the dry milk markets is explained principally
by the trend in production. Reports from
leading manufacturers of dry skim milk in
January showed an increase of 28.0 percent
over the production of January last year and
almost 30 percent over the 5-year average.
This increase following the 47 percent increase
in December meant the production of between 12
and 15 million pounds of dry skin milk more-
than was r-oduced during those two months last
year. Production of dry whole milk and dry
buttermilk, however, was 21.2 percent and 21.5
percent respectively, less than in January,
last year.

Stocks of dry skim milk held by nanu-
facturers increased from 34 days' supply on
January 1 to 39 days' supply on February 1.
Approximately 8 days' supply was reported on
February 1 last year. Stocks of dry whole
milk on February 1, this year, showed a slight
decrease from a month earlier, but stocks of
dry buttermilk were larger.

The casein markets in February were also
nervous and unsettled.- Production increased
rather sharply, and as demand was only fair,
supplies were fully ample for current require-
ments. Prices eased off from those of the
preceding month. Some sales delivered Eastern
points at 201 to 21 cents per pound were
reported early in the month, but later in the
month most of the sales reported ranged from
18- to 19- cents per pound.


FEBRUARY 1937


PAGE 2


V(]iaiOl o0 Ai isa3AINn







MARCH 25, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
DRY MILK MARKET REPORT FOR MARCH 1937


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.
DPY SKIM MILK DRY WHOLE MI K DBY BUTTERMILK
(BULK GOODS) (BULK GOODS ULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
.PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
5 5 126,606 I5 16- 57,850 4|- 5 484,076
S- 6 1,071,552 16 17 400 5 6& 855,560
6 61 1,094,778 17.- 18 39,450 6 7 1,339,226 -
6 7 3,129,511 8 19- 331,794 7 8- 138,116 35,415
7 7 377,761 451,180 19 20; 112,419 9 4,010
7 8 145,175 479,560 20-, 21 36,975 9 61,453
8 8 16,650 1,249,222 10 I- -
8 -9 15,500 2,455,199 II- I12F 5,400
9 91 10,212 6,902,720
94 -10 885,725
10 -210 628,262
IQ- 11 617,620
TOTAL 5,987,745 13,669,488 578,888 2,816,978 106,278
GRAND TOTAL 19,657,233 578,888 2,923,256
AVERAGE PRICE 6.500 9.020 6.350 9.340
.FEB. 1937 8.250 19.12 6.460
'JAN. 1.937 8.860 19.700 7.050
FEB. 1936 7.570 17.190 6.900
WHOLESALE PRICES REPORTED ON CASE GOODS WERE AS FOLLOWS:
DRY WHOLE MILK (I LB. CANS) 35..51 PER POUND,
WHOLESALE SELLING PRICES.F.O.B. DISTRIBUTING POINTS FEBRUARY
DRY SKIM MILK
(CENTS. PER LBS:)


BOSTON
NEW.YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


BAGS BBLS.
7 8 8.55 11.5.
6.25 II 8.5 11.75
6.5 8.5 II
6.75 9 8.5 11.75
8.5 .- 11..75
7 8 8.35 II


iKANSAS CITY
SEATTLE
:PO.RTLAND'' ...
Los. ANGELES
SAN- FRANCISCO


:'BAGS.'

.4.5- 8.5
4.5
6.75
6.75


BBLS.
9 11.5
7.75 10.75
8.46 10.25
8.75 12.5
8 10.75


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

S" TOTAl STOCKS ON HAND
CLASSES OF MARCH I:, 1937 : ".
S DRY MILK IN BAG INBARRE~S T TOTAL. POUNDS() .FRMS*
', :"" (POUNDS)-' POUNDS) ToTA- POUNDS) FRMS*.
WHOLE MILK. 8,770 1,962,.121 3,091,526 20
SKIM MILK 8.,881,615 27,:815, 004. 31.,722,588** 120
PART SKIM. 0 40,285 97., 123. 3
CREAM POWDER 0 644 644 2
BUTTERMILK 3,764,868 305,673 4,070,541 69
(A) INCLUDES CASE GOODS AS FOLLOWS.: -WHOLE MILK 1,120,635
LBS; SKIM 25,969 LBS' PART SKIM -'.56,838 LBS'.
**EQUIVALENT TO 40 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 MAR. I, WERE EQUAL TO APPROXIMATELY 40
DAYSI REQUIREMENTS IN COMPARISON WITH 39D.AYS ON FEB. I,.1937:
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
MAR. I, .1936 WERE THE EQUIVALENT OF AN 8 DAYS' SUPPLY.
TOTAL STOCKS FEB. I, 1937 (INCLUDING LATE REPORTS): DRY WHOLE
MILK 3,573,277 LBS; DRY SKIM MILK 35,424,617 LBS; DRY BUTTER-
MILK 4,136,003 POUNDS.
CC'MPARISON.OF TOTAL STOCKS REPORTED BY MANUFACTURERS .
S TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
CLASSES OF '' -
:CLDRY MILK OF PREVIOUS,' YEAR. PREVIOUS MONTH'
DRY' M'I LK
SF:IRMS* MAR. 1,1937 MAR. 1,1936 FIRMS* MAR. 1,1937 FEB. 1,1937
WHOLE MILK 0. 3,091,526 1,888,724: 20 3,091,526 :3,572,277
SKIM MILK 112 36,278,238' 6,425,915 119 36,718,508 35,074i.064
PART SKIM 3 97,123. 70.220 3. 397,123 79,714
CREAM, POWDER "2' .6441 69 2 644- .721.
BUTTERMILK 64: .. -4,01-8,:941. 1,63 8,.124 69 .4,.070,541 4, 136,.003.
FIGURES SHOWING NUMBER OF FIRMS DO (IOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER) UNIV.OF FL LU.
:MARCH 1937 .. WCUMENTS DE T.


U.S. D EPOIT -
U.S. DEPOOITORY


! ; % .







PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS FEBRUARY


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 FEB. 1937 FEB. 1935 FIRMS B FEB. 1937 JAN. 1537
WHOLE MILK 18 389,485 625,014 18 389:,485 595,260
SKIM MILK 108 19,543,691 18,323,078 116 20,120,493 22,988,254
PART SKIM 2 56,959 85,259 2 56,959 52,666
CREAM POWDER 2 2,398 1,730 2 2,398 2,202
BUTTERMILK. 63. 2,906,069 4,228,707 68 2,944,669 3,247,267
REPORTS INDICATE THAT FEBRUARY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS BARRELS 80.760 CASES 19.24%.
DRY SKIM MILK: 29.51%(5,937,665 LBS) 1 70.49%(14,183,908 LBS)
DRY BUTTERMILK: 94.57%(2,784,656 LBS) 5.43%( 160,013 LBs)
PRODUCTION DRY SKIM MILK JANUARY 1937 (INCLUDING LATE REPORTS) BAGS 6,407,473 LBS.
(27.53); BARRELS 16,855,074 POUNDS (72.43/); CASES, 0.045; TOTAL 23,270,705 LBS.
PRODUCTION DRY SKIM MILK JANUARY, 1936, 17,827,281 LBS. (SUBJECT TO REVISION).
FIGURES SHOWING NUMBERR OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.
EXPORTS AND IMPORTS OF DRY MILK DURING JANUARY 1937-


EXPORTS

TOTAL JANUARY 1937
TOTAL JANUARY 1936


POUNDS
216,371
304,783


IMPORTS

TOTAL JANUARY 1937
TOTAL JANUARY 1936


1937
CASEIN IMPORTS JANUARY 723,400 LBS.


POUNDS
1,104,690
1,263,321


1936
1,638,955 LBS.


DRY MILK MARKETS CONTINUE UNSETTLED IN MARCH


Although the production of dry skim
milk is not showing the gain over a year
earlier indicated by previous reports, and the
output of dry whole milk and dry buttermilk
is registering even sharper declines, the
markets continue irregular and unsettled.
Supplies of dry skim milk held by manufacturers
are still showing a contra-seasonal increase,
although the gain during February was small ani
arillprobably bc of little significance in March.

Sales of dry skim milk reported by
manufacturers for February were slightly less
than in February, last year, considerably
smaller than in 1935 and 1934 when moderately
heavy deliveries were being made on Government
contracts, but substantially larger than any
February sales of the preceding years.' The
recent unsettled markets have, no doubt, caused
many buyers to stay out of the market for the*
time being, but with the spring season opening
up very shortly and with most observes looking'
forward to an improvement in demand at. that
time, particularly on dry skim milk for animal
feeding, such buyers will likely be more
inclined to the buying side.

Prices of late have reflected the
effects of heavy production, accumulated
supplies, and the hesitancy of a number of
large users of dry milk products to make
current heavy commitments. Prices of dry skim
milk reported by-manufacturers for February
averaged 6.50 cents per pound for delivery in
bags, and 9.02 cents in barrels. The average
price for all sales was 8.25 cents, slightly
over cent below the average price for
January, this year, but almost -'cent above
the average price for February, last year.
Similar declines from the preceding month were
likewise shown on February prices of :dry whole
milk and dry buttermilk. Current reports
indicate that prices have shown.further slight
recessions in March, but at present levels the
markets are apparently showing a certain degree
of stability.

The production of dry skin milk in
February was 6.7 percent higher than in







":' : .MARC
9 'L 6ZL80 Z9 l C

VOallONb Jo AiISH3AINn


February, lacst year, according to reports
received from leading manufacturers. In January,
the gain over last year amounted to 28.0 percent.
To a certain extent the production of dry skin
milk is rather elastic, and perhaps is more.
immediately responsive to price changes than a
number of other manufactured dairy products.
With present stocks comparatively large for
this.season of the year, and prices of late
showing a tendency to decline, a slowing up in
the relative rate of production may logically
follow. The production of dry whole milk'in
February reported by manufacturers was 37.7
percent smaller than in February last year, and
that of dry buttermilk 31..3 percent.

Manufacturers' stocks of dry skim milk
reported on March 1, 1937, amounted to 40 days'
supply, according to the calculated average
daily requirements for the past year made by
the Bureau of Agricultural Economics. This was
an increase-of 1 day's supply over the stocks
reported for February 1, this year, and 32 days'
supply over the stocks of March 1, last year.
With the exception of 1931 and 1930, reserve
stocks of March 1, last year. With the
exception-of 1931 and 1930, reserve stocks of
manufacturers on March 1, this year, calculated
on the basis of average daily requirements were
the largest for March 1 of record. Stocks of
dry whole milk and dry buttermilk held by nanu-
facturers on March 1 showed about the usual
seasonal decline front a month earlier.

The casein market in March showed
considerable weakness at times, and prices
drifted lower, as.the liberal supplies offered
found but relatively few buyers. Recent high
prices of casein and unsettled markets on dry
skimmed milk has caused some switch from the
production of the latter to casein. The result
has been that supplies of casein of late have
been more than the market could absorb with
ease. A number of casein manufacturers are
still making deliveries on contracts made at
higher prices during the past two to three
months, but current open market trading is at
prices considerably below the contract prices.
In late March, the market on 20 to 30 mesh, in
carlots, delivered Atlantic Coast points was
mostly 16f to 17 cents.


.': 1937 ':'


PAGE 2









APRIL 28, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOR APRIL 1937
MANUFACTURERS' WHOLESALE SELLING PRICES DURING MARCH
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 FOUNDS
PRICE IN BAGS., IN BBLS. RICE FOUNDS FRICE IN BAGS IN BBLS.
34 26,590 15 16 19 4 5- 65 1 1,696,923
4 501,900 ;6- 17-6 435,693 1318597
4 5 341,64.1 17 18 103,825 7 09,795
5 51,965,728 18 19 17,864 7 8 70,500 72,088
-- 6 3,193,978 19 20 36,584 9 9,190 99,808
6 6&61,101,264 20 21 1,140 9 10o -
61 7 314,070 309,150 10 -lI1 5,200
7 .7 4,525 2,148,674
7 8 .25,217 1,803,630
8 8 251,235 4,125,391
8- 9 7,903,270
9 91 53,800 2,414,979
9- 10 345,962
i 1 749,601

II I I 1,000
TOTAL 7,779,948 19,801,657 595,125 3,205,005 177,096
GRAND TOTAL 27,581,605 595,125 3,382,101
AVERAGE FRICE 5.690 8.380 5.690 8.680
MARCH 1937 7.620 17.621 5.850
FEB. 1937 8.25 19.120 6.460
MARCH 1936 7.720 17.19W 7.21
l .......... ..... ..-.-.. .....


WHOLESALEE PRICES
DRY WHOLE MILK (I LB. CANS)


REPORTED ON CASE GOODS WEFE AS FOLLOWS:
- 36.05# PER POUND.


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


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


BAGS
5.75
5 9.5
6
4.6
5.75


BBLS.
8.5 10
7 10.5
8.22 10.5
8 I1
9.5 10
8 10


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN, FRANCISCO


BAGS

6.5
4.5
6.75


BBLS.
8 10
7.5 9.25
7.9 9.25
8.75- 12
7.76- 9.25


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


SATOTAL STOCKS ON HAND
LASSES OF APRIL I, 1937
DRY MILK
IN BAG BARRELS TOTAL POUNDS (A)'FIRMS*
___________ (POUNDS) (POUNDS) __
WHOLE MILK 6,030 1,783,236 2,893,969 18


SKIM MILK
PART SKIM


CREAM POWDER


8,959,962


26,853,645
65.093


35,854,170**
133.316


120


I 4 -t


0


BUTTERMILK 3,842,596 275,256 4,117,852 [ 66
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,104,701
LBS; SKIM 40,563 LBS FART SKIM 68,223 LBS.
*EQUIVALENT TO 39 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 APR. I, WERE EQUAL TO APPROXIMATELY 39
DAYS' REQUIREMENTS IN COMPARISON WITH 40 DAYS ON MAR. I, 1937:
CALCULATED ON THE SAME BASIS A YEAR AGO,STOCKS ON HAND
APR. I, 1936 WERE THE EQUIVALENT OF A 10 DAYSI SUPPLY.
TOTAL STOCKS MAR. I, 1937 (INCLUDING LATE REPORTS): DRY WHOLE
MILK 3,091,526 LBS; DRY SKIM MILK 36,814,253 LBS; DRY BUTTER-
MILK 4,070,541 POUNDS.
COMPARISON OF' TOTAL STOCKS REPORTED BY MANUFACTURERS


r: I
>;

ZC ^ <


CLASSES OF TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
DRY MILK F PREVIOUS YEAR PREVIOUS MONTH
FIRMs* APR. I, 1937 APR. 1, 1936 FIRMs* APR. 1,1937 MAR. I, 1937
WHOLE MILK 17 2,893,069 1,507,270 18 2,893,969 3,091,216
KIM MILK I I 35,496,876 7.,744,282 .118 35,743,045 36,620,662
FART SKIM 3 133,316 66,162 3 133,316 97,123
CREAM POWDER 2 0 69 -
BUTTERMILK 61 4,086,252 2,045,098 .66 4,117,852 4,062,414
79 __ __ _--__ __ __-__ _4_5_ __ __ __ 4 0 2, 1


FIGURES SHOWING NUMBER OF FIRMS DO NOT .REPRESENT
FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER)
AFRIL 1937


NUMBER OF FACTORIES SINCE SOME


I-








PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS MARCH FAGE 2
INCLUDES REPORTS FROM PRI NCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
U COMPARISON OF Pl[ODUCTION (POUNDS) FOR SAME FIRMS
FFEVIOUS YEAR PREVIOUS MONTH
SFIRMS*;MAR. 1937 MAR. 1936 FIRMS* MAR. 1937 1 FEB. 1937
WHOLE MILK 15 697,417 910,315 16 700,6G0 i 36,334
SKIM MILK i 106 '23,936,041 i 22,1L,688 115 362,8,-3 20,158,450
PART S.KIM i 2 74,009 53,434 2 74,009 56,959
CREAM POWDER ;
BUTTERMI LK 60 3,482,595 4,132,538 64 3,542, 595 2,928,543
REPORTS INDICATE THAT MARCH PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILk: BAGS BARRELS 0.58 CASES 19.42,
DRY SKIM MILK: 32.29(7,884,301 LBS) 67.63 (16,515,797 LBs 0.08
DRY BUTTERMILK: I 95.86%(3,395,769 LaB) 4.14 ( 146,826 LBS)
PRODUCTION DRY SKIM MILK FEBRUARY 1937 INCLUDINGG LATE REPORTS BAGS 6,0O3,942 LBS.
(29.877,); BARRELS 14,212,460 POUNDS (70.13,); TOTAL 20,266,402 LBS.
PRODUCTION DRY SKIM MILK FEBRUARY 1936, 18,605,529 LBS. (SUBJECT TO REVISION).
* 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 1937
EXPORTS IMPORTS
POUNDS POUNDS
TOTAL FEBRUARY 1937 281Tb47 TOTAL FEBRUARY 1937 847TT,9
TOTAL FEBRUARY 1936 236,209 TOTAL FEBRUARY 1936 1,159,242
JAN.-FEB. (INC.) 1937 498,018 JAN.-FEB. (INC.) 1937 1,952,675
JAN.-FEB. (INC.) 1936 540,992 JAN.-FEB. (INC.) 1936 2,422,563


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


1937
1,573,872 LBS.
2,297,272 LBS.


1936
680,775 LBS.
2,319,730 LBS.


DRY MILK IMAKETS SUPPORTED BY GOVERNMENT BUYING FOR RELIEF PLPOSES


Supported principally by Federal buying for The production of dry skim milk in March
relief purposes, dry milk markets showed a slightly was apparently 7.9 percent larger than in March
improved tone during April, although supplies con- last year, judging from reports receivedfrom
tinued to be offered rather freely in some quarters 106 plants. This increase over a year earlier
and buyers were interested in only immediate re- is slightly larger than tha-t reported for
quirements. Also unsettling were estimates that February, and indicates a somewhat larger
current production was still above that of a year seasonal gain from February to March than
earlier, and the knowledge that stocks held by occurred a year ago. Production of dry whole
manufacturers are the largest for this season of. milk and dry buttermilk, however, continues to
the year since 1931. run below that of a year earlier, but by a
smaller margin than reported in February. .


In addition to the dry skin milk pur-
chased by the Federal Government in March
further awards were announced in April, con-
sisting of 7,480,000 pounds of spray process
and 2,121,850 pounds of roller process.
Deliveries on these contracts will start in
April and continue through May.
The casein markets have shown further
weakness since a month ago. Production has
been liberal, supplies offered freely, with
buyers, however, following a policy of buying
only for immediate requirements. Prices for
'the most part are 1 to 2 cents lower, with
20-30 mesh selling in carlots, delivered
Eastern Seaboard points, at 14 to 15 cents
per pound with a few contracts at 16 cents.
Domestic supplies are more than adequate for
current requirements, so that for the time
being, at least, no casein is being imported.


A further decline in prices on dry skim
milk in March brought out considerable delayed
buying, and deliveries reported by manufacturers
for March were the largest of record for that
month. Included in these deliveries, however,
were 2,719,000 pounds bought by the Federal
Government for relief purposes. Total sales re-
ported of 27,582,000 pounds were made at an
average price of 7.62 cents per pound, a decline
of 0.63 cents per pound from the average price
of February sales, and 1.44 cents from the October
and December averages which were the highest for
any month since 1928. Prices on dry whole milk
and dry buttermilk also declined, reported sales
on dry whole milk averaging 17.62 cents, a de-
cline of 1.50 cents from the'preceding month,'
and dry buttermilk 5.85 cents, a decline of 0.61
cents.

In spite of record breaking March sales of
dry skim milk, stocks held by manufacturers showed
only a minor decrease. On April 1, manufacturers
reported total stocks of,35,854,000 pounds, the
equivalent of 39 days' supply compared to 40 days'
supply on March 1, this year, and 10 days' supply
on April 1, last year. Stocks of dry whole milk
held by manufacturers on April 1 were slightly
lower than those of a month earlier but stocks of
dry-buttermilk were fractionally larger.


APR IL 1937


96 L 6lO8 Z9Z C

ViOLVO7 90 Aiisu3::AINrI










MAY 27, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
DRY MILK MARKET REPORT FOR MAY 1937


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) (BULK GOODS)
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
3 41 26,756 17 174i 370,758 4 4 137,708
4 2 17- I 112,000 4 51 1,820,183
4 5 1,815,628 212,200 I8-- 19- 400 5- 64 1,391,088
222
5 5- 1,674,253 19- 201 26,204 6- 71 47,635
52 6 3,186,112 210- 21- 123 71 .. 100 23,325
6 6 50,356 76,517 8 9 -
61 7 516,591 1,089,650 9 -101 79,550
7- 72 10,221 2,403,028
7 8 1,263 4,364,005
8 8- 35,418 8,337,536
92 2,679,547
9 29 42,500 917,293
9 -10 -
10 -1O 788,746
TOTAL 8,609,520 20,868,522 509,485 3,396,714 102,875
GRAND TOTAL 29,478,042 509,485 3,499,589
AVERAGE PRICE 5.260 7.980 5.200 9.140
APRIL 1937 7.19 17.315 5.320
MARCH 1937 7.620 17.625 5.850
APRIL 1936 7.850 17.34 7.120


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
DRY WHOLE MILK (I LB. CANS) 34.440 PER POUND.
WHOLESALE SELLING PRICES F.0.B. DISTRIBUTING


AS FOLLOWS:

POINTS APRIL


DRY SKIM MILK
CENTS PER LBS.)


BOSTON 5.5
NEW YORK 4.5-8.875.
PHILADELPHIA
CHICAGO 5.25
CLEVELAND-
ST. Louis 5


7.6
.6.75
7.5
8
7.89
8


BBLS.
- 9.5
- .10.5 .
- 10.795
- 10
9.5
9.5


KANSAS CITY
SEATTLE -...-.
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS
.. 6.5.-
4.5
6.75


BBLS .
8.85 9.5
7.25 8.75
7.33 8.75
8.25 8.75
7.76 8.75


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 ON IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.


TOTAL STOCKS ON HAND
CLASSES OF MAY I, 1937
DRY MILK MAY I, 1937
IN BAGS I BARRE S TOTAL POUNDS (A) FIRMS*
(POUNDS )_POUNDS)
WHOLE MILK 12,752 1,634,072 2,655,828 20
KIM MILK 77977 28484 1b 37,U1,09,2U08* 122
PART SKIM 0 26,893 89,811 3
CREAM POWDER 0 323 323 2
BUTTERMILK 3,600,842 431,703 4,032,545 66
A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,009,004
LBS; SKIM 47,036 LBS; PART SKIM 62,918 LBS.
**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 AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON MAY I, WERE EQUAL TO APPROXIMATELY 41
DAYS REQUIREMENTS IN COMPARISON WITH 39 DAYS ON APRIL I, 1937:
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND
MAY 1, 1936 WERE THE EQUIVALENT OF 12 DAYS' SUPPLY.
TOTAL STOCKS APR. I, 1937 (INCLUDING LATE REPORTS): DRY WHOLE
MILK 2,893.,969 LBS; DRY SKIM MILK 36,085,358 LBG; DRY BUTTER-
MILK 4,124,402 POUNDS.


1-J
g) : S
LL
0 w

---a ;
zS~ :


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
CLASSES OF TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* MAY 1, 1937 MAY I, 1936 FIRMS* MAY I, 1937 APRIL 1,1937
WHOLE MILK 19 2,655,648 1,556,461 19 2,655,358 2,893,969
SKIM MILK 113 36,500,558 9,447,410 120 37,028,389 36,012,091
PART SKIM 3 89,811 74,743 3 89,811 133,316
uREAM POWDER 2 323 680 -
BUTTERMILK 60 3,969,445 2,353,184 66 4,032,545 4,071,087
* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER)
MAY 1937








PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS APRIL PAGE 2
INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN
THE il.N' TED STATFS.


COMPARISON OF, PRODUCTION (POUNDS) FOR SAME FIRMS


FIRMS*


PREVIOUS YEAR


APRIL 1937


APRIL 1936


PREVIOUS MONTH


MARCH 1937


FIRMs*l APRIL 1937


WHOLE MILK 17 819,883 1,100,296 17 814,634 700,660
SKIM MILK I109 27,100,554 28,494,951 116 27,646,395 24,367,671
FART SKIM 2 8,285 86,108 2 8,285 74,009
CREAM POWDER 2 1,901 2,445 -
BUTTERMILK 58 3,458,2291 4,731,622 65 3,548,359 3,526,540
REPORTS INDICATE THAT APRIL PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 5.68 BARRELS 78.30 19,69 SES,6 18602

PRODUCTION DRY SKIM MILK MARCH 1937 INCLUDING LATE REPORTS) BAGS 7,984,349 LBS.
(32.56%); BARRELS 16,515,797 POUNDS (67.36); CASES 0.08 TOTAL 24,519 622 LBS.
PRODUCTION DRY SKIM MILK MARCH 1936, 22,515,337 LBS. (SUBJECT TO REVISION).
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS.OPERATE MORE THAN ONE FACTORY.


EXPORTS AND IMPORTS OF


EXPORTS

TOTAL MARCH 1937
TOTAL MARCH 1936
JAN.-MAR. (INC.) 1937
JAN.-MAR. (INC. 1936

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


POUNDS
326,189
.267,474
824,207
000,466


DRY MILK DURING MARCH 1937


IMPORTS

TOTAL MARCH 1937
TOTAL MARCH 1936
JAN.-MAR. (INC.) 1937
JAN.-MAR. INC.) 1936


1937
792,-9T LBS.
3,089,763 LSS.


POUNDS
466,653
1,385,639
2,419,328
4,308,232


1936
1,773,728 LBS.
4,093,458 LBS.


MARKET ON DRY SKIM MILK UNSETTLED. STOCKS LARGE.


In spite of support afforded by fairly
liberal buying for relief purposes on the part of
the Federal Government, the dry skim milk market
continues more or less easy and unsettled. As
in previous months, the weakness is due not so much
to the lack of demand as to the heavy supplies
already accumulated, and the continued production.
The recent unsettled condition has caused some
contraction in the raTo of production, with the
output for April dropping below that of April
last year. This is the first time that current
production has fallen below that of the corres-
ponding month of the preceding year 'since last
August. Compared to the 5-year.average, however,
production is still heavy, ,t!he output for April
being approximately 20 percent larger than the
average for that month for the years 1932-36.

Although the demand for dry skim milk is
slightly irregular in some quarters, the volume
moving into consumption continues relatively
large. Sales reported by manufacturers for
April were, with the exception of last year, the
largest ever reported for that month. While the
April sales included some deliveries on Govern-
ment purchases, sales through commercial channels
held up remarkably well. The principal exception
was in feed for baby chicks. The reduced hatch
of chicks this Spring, together with the generally
unsatisfactory relation between egg and poultry
prices and feed prices, has slowed up the demand
for dry skim milk from that industry.

Pricesaf dry skim milk showed further de-
clines during April. The average price for all
sales reported for that month was 7.19 cents per
pound, compared.to an average price of 7.62 cents
in March, this year, and 7.85 cents in April,
last year. This is the fourth successive month
in which prices have been lower than in the pre-
ceding month. Definite information on prices in
May.is not available, but it is generally thought
that they will be close to the average for April.


PC -LL 80 6ZLBO l V

V00i1= 1o AIisMSAINn


Stocks of dry skin milk held by manu-
facturers continue to be a natter of concern.
According to reports as of May 1, stocks on
that date were equivalent to 41 days supply.
This is an increase of 2 days supply over the
stocks of April 1, this year, and 29 days
supply over May 1, last year. Stocks of dry
whole milk and dry buttermilk, however, de-
creased from April 1 to May 1.

The production of dry skim milk in
April was 4.9 percent less than in April,
last year, judged by reports from a majority
of the concerns manufacturing that product.
This is in contrast to a gain of 7.9 percent
in March over a year earlier. The production
of dry whole milk in April was about 25.5
percent less than in the same month last year,
and that of dry buttermilk 26.9 percent less.

The casein market in April was irregular
In some quarters there was evidence of nervous-
ness over the possibility that the increase in
seasonal production during the spring months
would be heavier than usual, and that demand
would not keep pace with the increase i4
supplies. At the present moment, production
is fairly liberal and supplies fully ample
for the demand. Prices vary considerably,
btt the bulk of the sales on 20 to 30 mesh,
delivered Eastern Seaboard points, seem to
range around 131 to 14. cents.


MAY 1937


,


~r ? I I I






JUNE 25, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
DRY MILK MARKET REPORT FOR JUNE 1937


WASHINGTON, D.C.


MANUFACTURERS' WHOLESALE SELLING PRICES DURING MAY
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE BASIS OF CASH OR SHORT TIME CREDIT. WIDE RANGES IN PRICES
MAY 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 74,575 16 16 27,130 3. 4 201,723
3z-4 165,014 6 17 277,090 4 5. 2,251,756
4 -4 2,502,380 17i 18 90,885 5 6 164,287 -
42-5 2,833,845 18 19. 25,176 6 7 .23,570 44276
5 -5 2,999,950 495,250 7 123,849
5-l-6 117,859 410,470 9? 8,520 4,242
6 -6 410,949 1,017,224 91 -0 7,000
6--7" 101,003 1,673,861
7 -7- 1,236 5,377,398
74-8 61,461 8,153,321
8 4,752,637
-9 .- 299 504
9 -9- 83,840
9--10 660 472
TOTAL 9,268,272 22,928,977 420,281 2,649,856 179,367
GRAND TOTAL 32,197,249 420,281 2,829,223
AVERAGE PRICE 4.75i 7.510 4.900 7.650
MAY 1937 6.720 17.250 5.080
APRIL 1937 7.19t 17.315 5.320
MAY 1937 7.96~ 17.21[ 7.280


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
DRY WHOLE MILK (I LB. CANS) 35.8' PER POUND


AS FOLLOWS:


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


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST, Louis


BAGS
4.9 5
4 6.875
4-5
4.5 6


BBLS.
6.5 9
6 10
7.11 9.5
6 9.5
8.03 9
7.5 9


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

6 6.5
4.5
6.75


BBLS.
8.75 9
7.75 8.25
6.92 8.25
7.34 9.25
7.76 8.25


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 ON IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF JUNE I, 1937
DRY MILK IN BAGS I BARRELS TOTAL POUNDS (A) FIRMS*
(POUNDS) (POUNDS)
WHOLE MILK 2,070 1,622,466 2,764,638 20
SKIM MILK 10,032,287 32,982,643 43,073,225** 121
PART SKIM 0 30,019 86,676 3
CREAM POWDER 0 1,106 1,106 2
BUTTERMILK 4,508,294 ..383,804 4 4,.892,098 63
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,140,102 LBS;
SKIM 58,295 LBS; PART SKIM 56,657 LBS.
** 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 JUNE I, WERE EQUAL TO APPROXIMATELY 47
DAYS' REQUIREMENTS IN COMPARISON WITH 41 DAYS ON MAY I, 1937:
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND JUNE ,
1936 WERE THE EQUIVALENT F 22 DAYS' SUPPLY.
TOTAL STOCKS MAY I, 1937 (INCLUDING LATE REPORTS): DRY WHOLE
MILK 2,655,828 LBS; DRY SKIM MILK 37,179,090 LBS; DRY BUTTER-
MILK 4,032,545 POUNDS.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
CLASSES OF TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
DRY MILK _PREVIOUS YEAR PREVIOUS MONTH
_FIRMS* JUNE 1, 1937 JUNE 1, 1936 FIRMS* JUNE I, 1937 MAY I, 1937
WHOLE MILK 19 2,762,658 2,513,699 20 2,764,638 2,655.828
SKIM MILK 109 42,348,975 18,461,443 119 43,038,525 37,055,265
PART SKIM 3 86,676 103,864 3 86,676 89,811
CREAM POWDER 2 1,106 416 2 1,106 _323
BUTTERMILK 57 4,834,448 2,548,808 63 4,892,098 4,418,145
SF IURES SHOWI iNG'- t nm xi mr _,ki -r r rU M R r I NC I I SOME


I* l- "UVVIN NUMBaER OF FIRMS DO N(
FIRMS OPERATE MORE THAN ONE FACTORY.


OT REPRESENT NUMB S


(OVER)
JUNE 1937


UNIV. OF- FL LIB.


IA -- 4 ... ,

LI ( (r>:'r w rW








PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS MAY


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MiLK FACTORIES IN
THE UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
PREVIOUS YEAR PREVIOUS MONTH
FIRMS* MAY 1937 MAY 1936 FIRMS* MAY 1937 APRIL 1937
WHOLE MILK 19 991,555 2,283,276 20 993,571 821,997
SKIM MILK 108 34,858,738 34,755,143 118 35,816,941 27,781,496
PART SKIM 2 51,630 117,901 2 51,630 8,285
CREAM POWDER 2 .2,333 1,633 2 2,333 1,901
BUTTERMILK 56 3,225,185 4,842,396 62 3,314,260 3,520,813
REPORTS INDICATE THAT MAY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 2.54 BARRELS 89.42/C CA ES 8.04%
DRY SKIM MILK: n 29.53 (10,608,776 LBS) I 70.43~(25,303,430 LBs)" 0.04o
DRY BUTTERMILK: 96,01 ( 3,181,948 LBS) I 3.99%( 132,312 LBS
PRODUCTION DRY SKIM MILK APRIL 1937 INCLUDINGG LATE REPORTS) BAGS 8,206,194 LBS.
(29.47 ); BARRELS 19,629,486 POUNDS 70.49%); CASES 0.04% TOTAL 27,846 146 LBS.
PRODUCTION DRY SKIM MILK APRIL 1936, 28,911,527 LBS. (SUBJECT TO REVISION).
* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE-MORE THAN ONE FACTORY.


EXPORTS AND IMPORTS OF


EXPORTS

TOTAL APRIL 1937
TOTAL APRIL 1936
JAN.-APR. (INC. 1937
JAN.-APR. (INC.) 1936


POUNDS
41 1,864
286,209
1,236,071
1,094,675


CASEIN IMPORTS APRIL
CASEIN IMPORTS JAN.-APR. (INC.)


DRY MILK DURING APRIL 1937


IMPORTS


TOTAL APRIL 1937
TOTAL APRIL 1936
JAN.-APR. (INC.) 1937
JAN.-APR. (INC.) 1936
1937
572,55B LBS.
3,662,329 LBS.


POUNDS
80,767
2,725,130
2,500,095
7,033,362
1936
2,448,486 LBS.
6,541,944 LBS.


HEAVY PURCHASES DRY SKIM MILK BY FEDERAL GOVERNMENT FOR RELIEF PURPOSES
MANUFACTURERS STOCKS CONTINUE TO INCREASE


Recent events of interest in dry milk
markets center around the heavy deliveries of dry
skim milk on Federal Government contracts, and
the further increase of stocks held by manufact-
urers, states the Bureau of Agricultural Econ-
omics. Approximately 7,000,000 pounds were
delivered on Government purchases during May. In
addition, contracts for 3,265,000 pounds were
awarded on June 12, and 7,040,000 pounds on June
21.- Deliveries on these awards are to start in
June and be completed prior to July 30, 1937.

Stocks of dry skim milk reported by manu-
facturers on June 1 of 43,000,000 pounds were
approximately 6,000,000 pounds larger than a
month earlier. On the basis of the average daily
requirements for the past year, as calculated
from reports of the Bureau, stocks of dry skim
milk reported by manufacturers on June 1 were
equal to approximately 47 days' supply in com-
parison with 41 days on May 1, this year, and 22
days' supply June 1, last year. Considered in
terms of daily requirements, stocks on June 1,
this year, have been exceeded only once for June
1, in 1931, and equalled once, in 1930.

SIn spite of the large quantities of dry
skim milk bought by the Government, the general
situation continues nervous and unsettled.
Demand from private sources is reported as being
unsatisfactory. Total sales of dry skin milk
made by manufacturers in May according to reports
to the Bureau amounted to 32,197,000 pounds,
which included 7,000,000 pounds delivered on
Government contracts. Deducting these Government
deliveries loaves one of the smallest volumes of
sales through commercial channels for May since
1934. One of the causes for this drop in sales
is the relatively light demand from animal feed
manufacturers, which to some extent has been
influenced by the sharp decrease in the number of
baby chicks hatched by commercial hatcheries this
year.

Sales of dry skin milk reported to the
Bureau for May were nade at an average price of
6.7 cents per pound, a decrease of almost cent
from the April average and 2.3 cents under the
peak reached in October and December 1936. The
average price reported for May was the lowest for
any month since November, 1935. An additional


9StL 6ZLZO g9ZO c

vaCO1h0 -0 AiSHaBAINn


decline of cent is reported for June, but at
the lower prices now prevailing the market seems
to be meeting a little better support than for
some time. It is reported that private buyers
are willing to anticipate future needs to sone
extent. With some support from this source and
further heavy deliveries to be made on current
contracts of the Federal Government, the market
may find a greater degree of stability front now
on.

After dropping below the production of
the corresponding month last year in April, the
output of dry skin nilk in May rose fractionally
above that of May a year ago, indicating a con-
tinuation of the high level of output that has
featured the industry so far this year. The
production of dry whole milk and dry buttermilk,
however, was considerably less. Due to the
small stocks of dry whole milk held by manu-
facturers, and the relative lightness of current
production, the market on this product has re-
mained fairly stable, and the decline in prices
has been nuch less than for dry skin milk. The
market on dry buttermilk has also shown a better
tone, although a few producers report smaller
orders from feed manufacturers. This is re-
sulting in some accumulation of supplies.

The casein market in June was very
irregular both as to tone and price. The con-
census of reports, however, indicated a fairly
steady market on 20 to 30 nesh at 13 to 14
cents a pound, delivered in carlots to Eastern
Seaboard points. It was possible, however, to
obtain occasional concessions from those prices
on small lots held by concerns that for one
reason or another wanted to sell, but for the
most part goods were held rather closely.at the
foregoing prices. Current supplies appear to
be fully ample for immediate requirements but
not burdensome. Foreign prices at the present
nonent are too high to allow sizeable import-
ations at prevailing domestic prices.


JUNE 1937


... ......


I


PAGE 2






JULY 27, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
DRY MILK MARKET REPORT FOR JULY 1937


WASHINGTON, D.C.


MANUFACTURERS' WHOLESALE.SELLING PRICES DURING JUNE
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 -3 440,954 16-17- 7345,521 3 -315 14,200
3 -4 1,894,438 17--8- 60,914 3-4! 1,663,986
4 -4A 3,509,572 203,245 18-19" 12,267 --545,112 -
4- 5 2,892,727 864,350 5--6 555,655 -
5 -5} 340,910 528,371 -7 42,345 72,799
6 271,815 217,640 106,686
-6 256,877 1,471,547 10,466
-7 1,954 5,181,807- 9-10 3,905
-745 4,470,176
S 8 120,945 7,323,873
1 3,352,564
9- -9 212,879
99 -1o 734,000
TOTAL 9,730,192 24,560,452 418,702 2,821,298 193,856
GRAND TOTAL 34,290,644 418,702 3,015,154
AVERAGE PRICE 4.38 7.200 4.560 7.860
JUNE .1937 6.400 17.040 4.77
MAY 1937 6.720 17.255 5.080
JUNE 1936 8.290 16.533 6.970


DRY WHOLE


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
MILK .( LB. CANS) 35.410 PER POUND


AS FOLLOWS:


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


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


BAGS
4.75
3.75-5.375
4.5
4


, BBLS.
6 -9.75
6.812-10
6.4 -9
6.5 -9.25
8.5 -9
6.3 -9


KANSAS CITY
SEATTLE
PORTLAND
Los ANGELES
SAN FRANCISCO


BAGS

5-6.5
4.5
6.75


BBLS.
6 9
7.75- 8.25
6.63- 8.25
7.5 8.75
7.28- 8.25


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 ON IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF JUNE I 1937
DRY MILK .JUNE 1937
.IN BAGS I BARRELS TOTAL POUNDS (A) FIRMS*
(POUNDS POUNDS)
WHOLE MILK 7213 1,495,016 3,087;208 '19
S K I M'L '8 3 7 1 **3,7 1, 8 6 9 ,I0 4 3 1


CREAM POWDER 0 553 .553 2
BUTTERMILK 5,006,845 453,043 5,459,888 64
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,584,979 LBS;
SKIM 72,533 LBS; PART SKIM 61,027 LBS. .
** EQUIVALENT..TO 54,.DAYS' REQUIREMENTS:. ON THE BASIS OF THE C
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON JULY I, WERE EQUAL TO APPROXIMATELY 54
DAYS' REQUIREMENTS IN COMPARISON WITH 47 DAYS ON JUNE I, 1937:
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND JULY I,
1936 WERE THE EQUIVALENT OF 33 DAYS' SUPPLY.
TOTAL STOCKS JUNE I, 1937 (INCLUDING LATE REPORTS): DRY WHOLE
MILK 2,764,638 LBS; DRY SKIM MILK 43,128,925 LBS; DRY BUTTER-
MILK 4,922,598 POUNDS.


F l


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
CLASSES OF TOTAL STOCKS (POUNDS ) ON HAND FOR SAME FIRMS REPORTING
DRY. MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* JULY I, 1937 JULY 1, 1936 FIRMS* JULY I, 1937 JUNE 1, 1937
WHOLE MILK 19 3,087,208 3,851,431 19 -3,087,208 2,764,638
SKIM MILK 109 47,593,508 27,758,280 121 48,293,413 42,669,775
PART SKIM 3 181,649 170,474 3 181,649 86,676
CREAM POWDER 2 553 5 2. 553 1,106
BUTTERMILK 58 5,251,588 2,771,597 63 5,429,988 4,892,320
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.


'I I '


SKIM MILK


I-


10,483,51 I


48,327,913**


37,771,'869


PART SKIM


3


120,622


181,649






PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS JUNE


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

COMPARISON OF PRODUCTION (POUNDS FOR SAME FIRMS
PREVIOUS YEAR PREVIOUS MONTH
FIRMS* JUNE 1937 JUNE 1936 FIRMS* JUNE 1937 MAY 1937
WHOLE MILK 18 1,2.14,275 2,662,030 18 1,214,275 993,571
SKIM MILK 105 34,303,.706 36,585,540 118. 35,372,041 35,655,926
PART SKIM 2 145,634 .1.26,605 2 145,634 51,630
CREAM POWDER 2 2,175 389 2 2,175 2,333
BUTTERMILK 56 3,870,717 7,160,851 62 4,126,417 3,272,800
REPORTS INDICATE THAT JUNE PRODUCTION WAS PACKED S FOLLOWS:
DRY WHOLE MILK: BAGS 042 BARRELS 91 .79 CASES 7.7!
DRY SKIM MILK: 27.99 (9,900,962 LB) 71.95 (25,448,833 LBS 0.06/0
DRY BUTTERMILK: I 93.63 (3 863 593 LB) 6.37M 262,824 LBS
RODUCTON Y SKIM MIK MAYI 937 (INCLUDING.LATE REPORTS) BAGS 10,664,698 LBS.
(29.50o); BARRELS 25,463,330. POUNDS (70.45): CASES 0.05 TOTAL 36,144,610 LBS.
PRODUCTION DRY SKIM MILK MAY 1936, 35,156,489 LEBS. (SUBJECT TO REVISION).
* 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 MAY 1937


EXPORTS

TOTAL MAY 1937
TOTAL MAY 936
JAN.-MAY (INc 1937
JAN.-MAY (INC 1936


POUNDS
272,106
351,985
1,508,162
1,446,660


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


.IMPORTS

TOTAL MAY 1937
TOTAL MAY 1936
JAN.-MAY (INc 1937
JAN.-MAY (INC) 1936
1937
285T4-U LBS.
3,947,378 LBS.


POUNDS
106,860
4,168,324
2,606,955
11,201,686
1936
1,483,220 LBS.
8,025,164 LBS.


UNDERTONE IN DRY MILK. MARKET IMPROVES AS PRODUCTION DROPS BELOW A YEI EA RLIER


A slightly more hopeful spirit seemed to be
present in the dry milk markets in July, although
offerings of dry skim milk particularly continued
liberal in some quarters, states the Bureau of
Agricultural Economics. Farther buying by the
Federal Government of dry skim milk for relief
purposes served to partially offset the effects'
of large reserve supplies. Some encouragement
was also found in the decrease of the June pro-
duction of dry skim milk under that of a year
earlier, the second month so far this year to
show a smaller output of this product than that
of the corresponding month of last years

The average price of dry skim milk in June
as determined from sales reported by manufacturers
was 6.40 cents per pound. June is the sixth con-
secutive month for which the average price of dry
skim milk has shown a decrease from that of the
preceding month. The June average was .320 per .
pound lower than the average for May, this year,
and 1.89 cents per pound lower than that. of June,
last year. In addition, it was the lowest
average price for any month since October 1935.

The sharp decline in dry skin milk prices
during the past six months has removed a large
part of the incentive for continued heavy pro-
duction, and some slackening up in comparison
with the preceding rate may now be expected.
There is some indication that this is already
occurring, as the production for June, based upon
reports from representative manufacturers, was
3.6 percent smaller than that of June last year.
Production of other classes of dry milk was also
less, dry whole milk showing a decrease of 54.4
percent, and dry buttermilk 46.0 percent.

June sales of dry skim milk, as reported
to the Bureau, amounted to 34,291,000 pounds, the
largest ever reported for any month since records
became available. Included in these sales, how-


ever, were deliveries of 2,684,000 pounds on
Federal contracts, but after allowing for such
deliveries, the June sales were the second
largest ever reported for any month. Apparently
the recent decline in prices has brought out
considerable buying by private sources, parti-
cularly concerns that had been working on
stocks bought last fall at considerably higher
prices.

Total stocks of dry skim milk reported
by manufacturers as of July 1, 1937, amounted
to 48,328,000 pounds. On the basis of the
average daily requirements for the past year,
as calculated from preceding reports, stocks
of dry skim milk on that date were equal to
approximately 54 days' requirements in com-
parison with 47 days on June 1, this year, and
:33 days on July 1, last year. With the ex-
ception of 1930, stocks of dry skin milk on
July 1, this year, were the largest for that
date since 1930 when they amounted to 60 days'
supply. As moderately heavy deliveries on
Federal contracts are scheduled for July, the
August 1 reserve stocks of dry skin milk are
likely to show a reduction under those of July,

The casein markets in July continued the
.irregular trend noted in recent reviews without
any particular change in prices. Supplies
appear to be slightly more than ample for
current requirements as buying by paper mills
shows the usual seasonal decline. Dealers
report a limited supply of casein of superior
quality available for market trading, and no
difficulty experienced in obtaining a premium
over lots of average grade. Prices on car lots
of 20 to 30 mesh, delivered Eastern Seaboard
points mostly 13 to 14 cents per pound.


JULY 1937


LVlL 6ZL9O Z9I l1

VOiHoI4 do AIIS83AINn


PAGE 2








AUGUST 27, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOR AUGUST 1937
MANUFACTURERS' WHOLESALE SELL INd' PRICES.DURING JULY
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F.O.B. FACTORY ON THE BASIS OF CASH 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)- I


REPORTED SALES
POUNDS
PRICE IN BAGS


176,403
3,683,003
3,513,453
1,999,483
325,575
422,411
92,595
1,336


IN BBLS.


DRY WHOLE MI LK
(BULK GOODS)


REPORTED SALES


PRICE


POUNDS


DRY BUTTERMILK
(BULK GOODS)
REPORTED SALES


PRICE IN BAGS


POUNDS
IN BBLS.


-_-.I---... I --- -'- -'- -4 -


1,110,745
353,300
173,751
4,055,840
5,717,856
12,868,712
2,190,319
1,035,789
309,149
1,069,550


I14 5-1. 1
915..160
1- 1718

I 8J- 19i
19 20


10,350
112,844
293,869
97,253

11,910


74--1
7i-S&_
8Ls1{


1,i579,275
871,133
19,000
I00
14,560


-

65,903

137,233
10,500


TOTAL 10,214,262 28,885,011 529,226 2,484,068 213,636
GRAND TOTAL 39,099,273 529,226 2,697,704
AVERAGE PRICE 4.14 6.98 4.682 7.53.
JULY 1937 l .88 .
JUNE 1937 .401704 4.77'
JULY Ij6 8.256 17.37, 7.240
-------------_____8.25______ I7.37q.____: ---


WHOL SALE PRICES REPORTED
DRY WHOLE MILK (I LB. CANS) 36.180


ON CASE GOCDS WERE
PER POUND


AS FOLLOWS:


WHOLESALE SELLING PRICES F.O.B.,DISTRIBUTING POINTS JULY


BOSTON
NEW YORK
PHILADELPHIA :
CHICAGO
CLEVELAND
ST. Louis


BAGS
4.5
3.5-5.375
4,25
4 .


DRY SKIM MILK
(CENTS PER LBS)
BBLS.
6.65 8.5 KANSAS CITY
5.45 -10 :SEATTLE
6.29 -8.5 PORTLAND
6 9 Los ANGELES
'8.5 SAN FRANCISCO
6.8 8.5


BAGS
5- o
5-6.5.
4.5
6.75


BBLS.
6.7 8.5
6.75- 7.75
6 7.75
7.25- 8.75
7.29- 7.75


... ...MANUFACTURERS' STOCKS.0F 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 ON IN TRANSIT (UNSOLD) FOR WrREHOUSE CONSIGNMENT, AND
WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.


TOTAL STOCKS ON HAND
CLASSES OF ___ AUGUST I, 1937
DRY MILK IN BAGS I BARRELS TOTAL POUNDS (A) FIRMS*
(POUNDS) POUNDS)
WHOLE MILK 19,820 1,681,168 3,438,547 20
SKIM MILK 7,699,041 35,083,812 42,866,827** 119
PART SKIM 0 79,322 141,583 3
CREAMi POWDER- 0 1,082 17,082 2
BUTTERMILK 6,153,933 405,718 6,559,651 67
(A)NCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,737,559 LBS;
SKIM 78 974 LBS, PART SKIM 62,261 LBS.
**EQUIVALENT TO 47 6AYS' REQUIREMENTS: ON THE BASIS OF THE >
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONoMI.CS, STOCKS
OF DRY SKIM MILK ON AUGUST I, WERE EQUAL TO APPROXIMATELY 47
DAYSI REQUIREMENTS IN COMPARISON WITH 54 DAYS ON JULY I, 1937:
CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON HAND AUGUST I,
1936 WERE THE EQUIVALENT OF 29 DAYS' SUPPLY.
TOTAL STOCKS JULY I, 1937 (INCLUDING LATE REPORTS): DRY WHOLE
MILK 3,087,208 LBS; DRY SKIM MILK 48,390,189 LBS; DRY BUTTERMILK
5,520,453 POUNDS.


I

; i
.
I


COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
CLASSES OF TOTAL.STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* AUGUST I, 1937 AUGUST I,1936 FIRMs* AUG.1, I 1937 JULY 1937
E MLK19 37820 4.271.308 20 3.438547 3.087.208
KIM MILK 0 42,12527 24,520,626 I 19 42866,827 48,09 ,218
PART SKIM 3 141,583 120,407 3 141,583 181,649
CREAM POWDER 2 1,082- 12 2 1,082 553
BUTTERMILK 62 6,498,351 2,627,049 66 6,559,243 5,520,453
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.


AUGUST 1937


3 -3.
31-4
4 -4k
4--5
6 -56.-
65-6:
7
-i


99


---4-







PRQiJDUQTIN OF PRY MIIK REPORTED BY MANUFACTURERS JULY


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN
THE UNITED STATE'S.


FI RMS*


iiiio' rrOR SAME F FIRMS


PREVIOUS YEAR _PREV 10OUS 'MONTH


JULY 1937


JULY 1936


FIRMS*


JULY 1937


JUNE 1937


WHOLE MILK 17 1,268,657 1,937,463 18 1,.270,119 1,214,275
SKIM.MILK 110 28,825,746 25,874,687 11q 29,395,051 34,387,323
PART SKIM 2 11,908 24,379 2 11,908 !45,634
CREAM POWDER 2 3,154 1,137 2 3,154 2,175
BUTTERMILK 60 3,909,993 5,058,722 64 3,977,891 4,177,792
REPORTS INDICATE THAT JULY PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 7.83% BARRELS 85.881 CASES 6.29'
DRY SKIM MILK: 25.19 (7,405,539 LBS) I 74.77%(21,978,212 LBS 0.04%
DRY BUTTERMILK: I" 95.77;(3,810,196 LB) It 4.23%(, 468,103 LBS
PRODUCTION DRY SKIM MILK JUNE 1937 INCLUDINGG LATE REPORTS) AS 9,348,162 LBS.
(28.15,); BARRELS 25,477,733 POUNDS (71 .79'); CASE 0.06c TOTAL 35,4-8,141 LBS.
REDUCTION DRY SKIM MILK JUNE 1936, 36,995,235 LBS. SUBJECTT TO REVISION).
*.FIGURES SHOWING NUMBER OF FIRMS DO NOT-REPRESENT.NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.


EXPORTS AND IMPORTS OF


EXPORTS
TOTAL JUNE 1937
TOTAL JUNE 1 36
JAN.-JUNE INc) 1937
JAN.-JUNE (INc 1936


POUNDS
247 ,821F
.427,372
,.755,983
1,874,032


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


DRY MILK DURING JUNE 1937
IMPORTS
TOTAL JUNE 1937
TOTAL JUNE 1936
JAN.-JUNE (INc) 1937
JAN.-JUNE (INc) 1936
1937
466,158 LBS.
4,413,536 LBS.


POUNDS
S17,320
3,327,462
2,724,275.
14,529,148
1936
1,183-446 LBS.
9,208,610 LBS.


DIY SKIM MILK MARKETS IT AUGUST SHOW STEADIER TONE SUPPLIES STILL MODERTELY HEAVY


Further deliveries during July on awards
made earlier in the season by the Federal Surplus
Commodities Corporation for the purchase of dry
skim milk for relief purposes, failed to check
entirely the. decline in prices that has been under
vay since the first of the year, although there
was increasing evidence that prices are near the
low point and that a steadier market is in sight,
states the Bureau of Agricultural Econonics. De-
livery of 6,800,000 pounds on Government con-
tracts helped to swell the July sales of dry skim
milk to a total. of 39,099,000 pounds, the largest
ever reported for any month since records became
available, but the average price declined from
6.40 cents per pound in June to 6.24 cents in
July. This is the lowest average price for any
month since October 1935. It is reported, how-
ever, that considerable large scale buying was
brought into the market by the additional July
decline, so that in spite of a substantial in-
crease in production over that of a year earlier,
stocks held by manufacturers were reduced mater-
ially.

Advice fromleading markets indicates that
not only did no-further recession in prices occur
'during August, but that sentiment stiffened con-
siderably followed by a slight hardening in
values, particularly on hot roller process for
animal feed which was quoted fractionally higher.
Some buyers appeared willing to anticipate further
requirements to a moderate extent, and a gener-
ally steadier tone was in evidence. The only
drawback, apparently, to an even greater feeling
of confidence was the possibility that milk pro-
duction this fall and winter may be heavy, which,
with any material improvement in dry skim prices,
might result in a continued heavy production and
supplies greater than the market could absorb
without difficulty.

As a result of the heavy deliveries on
Government awards and improved private buying,
stocks held by manufacturers registered a sub-
stantial decline during July instead of remain-
ing practically unchanged in line with the trend
of the 1932-36 5-year average. Stocks reported
by manufacturers on August 1 amounted to
42,867,000 pounds, the equivalent of 47 days'


88ZL 6ZL80 Z9ZL,

VaIlll OII IIII AIIIIIINIIII
VC]IOOl ~IO AIIS5l5AINf


supply compared to 54 days supply on July 1,
this year, and 29 lays' supply on August 1,
last year. The five year (1932-36) average
for August 1 is 33 da .as' supply, so that
present stocks are soill above nror-'.l, judged
by the 5-year average.

June production wa less than in the
same month in 1936, but as in: most preceding
months, the output of dry skim milk in July
again rose above that of a year earlier, this
time by 11.4 percent. In general, this was
similar to the output of other manufactured
dairy products, and reflects the improved flow
of milk this year compared to that of July last
year when many of the leading dairy states were
experiencing severe drought, short pastures,
and high temperatures. Comments during August
suggest some possibility that the production of
dry skim milk has once more been checked, due to
the vider use of fluid milk for current con-
sumption in some sections, but this cannot as
yet be substantiated.

Average prices of dry whole milk also
declined in July, but dry buttermilk increased
slightly. Manufacturers' stocks of both of
these products, however, increased front July 1
to August 1 in line with the average seasonal
trend. In both cases, production in July was
less than a year earlier, that of dry whole
milk being 34.5 percent and dry buttermilk 22.7
percent.

The casein market in August was generally
quiet, but with a slightly better tone. Pro-
duction was reported as being curtailed, while
demand broadened due to new buying by paper
coaters. Dealers were not aggressive in push-
ing sales, so that trading activity was small,
and prices difficult to establish. Some 20-30
mesh is bringing 13-14- cents per pound in a
wholesale way at Eastern markets, with some lots
of superior quality being held at premiums over
these prices.


AUGUST 1937


CnMo\ 1 (-rl~ PRO Drlll:7' rl


PAGE 2









SEPTEMBER 27, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOR SEPTEMBER 1937
MANUFACTURERS' WHOLESALE SELLING PRICES DURING AUGUST


THE WHOLESALE PRICES GIVEN BELOW ARE BASED
COVERING ACTUAL SALES TO JOBBERS, WHOLESALE GROCE
F.0.B. FACTORY ON THE BASIS OF CASH OR SHORT TIME
MAY BE IN PART ATTRIBUTED TO DIFFERENCES IN QUALI


UPON REPORTS FROM MANUFACTURERS
RS AND SIMILAR BUYERS FOR GOODS
CREDIT. WIDE RANGES J\ PRICES
TV 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.
31 44 1,407,757 14 15- 157,873 3 3-1 40,000 -
4 4j 2,716,736 15- 16 -I 3 4 908,072
4 5 1,090,325 401,000 t-6 17 435,771 42 5 1,268,605 -
5 5- 787,895 251,493 17. 18- 193,160 5L 6- 28,325 14,800
5 6 525,358 417,422 18i 19 25,115 6 7 50 -
6 6- 17,665 1,844,407 19 20. 5,170 7 8 114,071
6 7 43,240 5,237,767 8 9 13,765
7 7 81,085 7,694,352-
71 8 3,698,510
8 8- 1,128,617'
8- 9 207,545
9 91 53,687
TOTAL 6,670,061 20,934,800 817,089 2,245,052 142,636
GRAND TOTAL 27,604,861 817,089 2,387,688
AVERAGE PRICE 4.400 7.02 4.58 7 7.944.
AUG. 1937 6.390 16.924 4.780
JULY 1937 6.24# 16.880 4.850
AUG. 1936 8.40# 17.890 6.940


WHOLESALE PRICES REPORTED ON CASE GOODS
DRY WHOLE MILK (I LB. CANS) 35.720 PER POUND


WERE AS FOLLOWS:


WHOLESALE SELLING PRICES F.O.B. DISTRIBUTING POINTS AUGUST


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


BAGS.
4.75
4 5.4

4.25


DRY SKIM MILK
BBLS. (CENTS PER LB.)
7.125.8.5 KANSAS CITY
6 9 SEATTLE
6 -8.5 PORTLAND
6,5 9 Los ANGELES
,.-.8.5 SAN FRANCISCO
7.75 8.5
MANUFACTURERS' STOCKS OF DRY MILK


BAGS

5 6.5
4,5

6.75


BBLS.
7.5 8.5
6.5 7.75
6,8 7.75
7.25 8.75
7.29 7.75


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

TOTAL STOCKS ON HAND
CLASSES OF SEPTEMBER I, 1937
DRY MILK IN BAG I I BARRELS
(POUNDS) POUNDS TOTAL POUNDS(A) FIRMS*
WHOLE MILK 24,170 1,077,596 2,857,600 20
SKIM MILK 5,606,290 34,519,313 40,193,951** 120
PART SKIM 0 51,758 118,775 3
CREAM POWDER 0 1,611 1,611 2
BUTTERMILK 6,261,628 398,787 6,660,415 65
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,755,834
POUNDS SKIM 68,348 POUNDS; PART SKIM 67,017 POUNDS.
**EQUIVALENT TO 42 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 SEPTEMBER I, WERE EQUAL TO APPROXIMATELY
42 DAYS' REQUIREMENTS IN COMPARISON WITH 47 DAYS ON AUGUST I,
1937: CALCULATED ON THE SAME BASIS A YEAR AGO, STOCKS ON
HAND SEPTEMBER I, 1936 WERE' THE EQUIVALENT OF 23 DAYSI SUPPLY.
TOTAL STOCKS AUGUST I, 1937 (INCLUDING LATE REPORTS)* DRY
WHOLE MILK 3,438,547 POUNDS, DRY SKIM MILK 42,901,529
POUNDS; DRY BUTTERMILK 6,539,651 POUNDS.
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* SEPT.1,1937 SEPT.I,1936 FIRMS* SEPT.I,1937 AUG. 1,1937
WHOLE MILK 19 2,857,420 4,211,937 20 2,857,600 3,438,547
SKIM MILK III 39,414,286 20,356,188 117 40,114,753 42,864,727
PART~SKIM 3 118,775 85,247 3 118,775 141,583
CREAM POWDER 2 1,611 8 2 1611 1,082
BUTTERMILK 61 6,612,715 2,768,364 64 6,650,150 6,553,075
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY. UNIV. F FL L.

(OVER) d9CUET EU
--SEPTEMBER 1937-
SEPTEMBER 1937 A0
1&&.









PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS AUGUST PAGE 2
INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES. _
COMPARISON OF PRODUCTION (POUNDS) FOR SAME FIRMS
CLASSES PREVIOUS YEAR PREVIOUS MONTH
FIRMS* AUG. 1937 AUG. 1936 FIRMs* AUG. 1937 JULY 1937
WHOLE MILK 19 840,730 1,524,204 .19 840,730 1,270,119
SKIM MILK 111 20,318,834 20,953,300 115 20,668,449 29,327,519
PART SKIM 2 12,95 55,820 2 12,951 11,908
CREAM POWDER 2 4,979 1,921 2 4,979 3,154
BUTTERMILK 58 j 2,252,568 3,756,259 61 2,299,586 3,980,844


REPORTS INDICATE THAT AUGUST PRODUCTION WAS.PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 2.90 BARRELS 92.33% CASES 4.77%.
DRY SKIM MILK: I" 21 .8 (4,616,252 Lbs) 73.02 16,386,065 LEs)
DRY BUTTERMILK: 93.89%.(2,159,842 LBS) 6. ( 140,534 LSs)
RODUCTION DRY SKIM MILK JULY 1937 (INCLUDING LATE REPORTS) BAGs-7,430,587 POUNDS
(25.24%o); BARRELS-21,992,585 POUNDS (74.72); CASES-0.04 TOTAL 29,435,042 POUNDS
SUBJECT TO REVISION.) PRODUCTION DRY SKIM MILK JULY 1936 31,654,000 POUNDS
FINAL FIGURE).
* FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.
EXPOPTS AND IMPORTS OF DRY MILK DURING JULY 1937


EXPORTS

TOTAL JULY 1937
TOTAL JULY 1936
JAN.-JULY (INC) 1937
JAN.-JULY(INC) 1936


POUNDS
300,898
382,510
2,056,881
2,256,542


IMPORTS

TOTAL JULY 1937
TOTAL JULY 1936
JAN.-JULY(INC) 1937
JAN.-JULY(INc) 1936


POUNDS
79,307
1,638,152
2,803,582
16,167,300


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


.1937
153,607 LBS.
4,567,143 LBS.


1936
958,963 LBS.
10,167,573 LBS.


DRY MILK MARKETS FULL STEADY TO FIRM PRODUCTION DOWN DEMAND IMPROVED


The dry.milk markets in September were
full steady, with the undertone at most points
generally firm. Although no further purchases
of dry skim milk have been made by the Federal
Government for relief purposes since late July,
the movement of dry skim milk into channels of
consumption continues of good volume, as
indicated by reports on manufacturers sales for
August, the last ii.onth for which definite
information is available. The demand for dry
skim milk for animal feeding has shown steady
improvement in recent months, and with pro-
duction reported generally down, there is a
tendency for manufacturers to ask slightly
higher prices.

Total sales of dry skim milk reported
by manufacturers for August au.ounted to
27,605,000 pounds. With the exception of 1935
this is the largest volume of sales ever
reported for August of any year for which
records are available. This volume is
particularly a reflection of improved demand,
as it is composed entirely of sales made for
commercial purposes. The average price
received for dry skim milk sold by manufactur-
ers in August was 6.39 cents per pound, a
slight improvement over the average price of
6.24 cents per pound reported for July.

Stocks of dry skim milk reported by
manufacturers on September I amounted to


40,194,000 pounds, the equivalent of 42 days'
supply compared to' the equivalent of 47 days'
supply on August 1, this year, and 23 days'
supply on Septerber 1, 1936. The reduction of
manufacturers' stocks during August was
slightly in excess of the average reduction
for August for the 5-years, 1932-36 inclusive.

Production of the various classes of dry
skim milk in August was less than a year
earlier. Dry whole milk was down 45 percent,
dry buttermilk.40 percent, and dry skim milk 3
percent. To some extent, the improved demand
for milk in some of the fluid milk markets, as
well as for the manufacture of other dairy
products, has lessened supplies going to drying
plants in some areas, so that manufacturers
report current production not far from that
usually expected at this time of the year.

Casein markets in September were mostly
quiet and unchanged. Demand from paper-coaters
has not improved as anticipated sometime ago,
and at the present moment iA only fair. Stocks
of casein are reported as fully ample to the
quiet demand. Casein in carlots delivered to
Atlantic Seaboard points quoted 13 to 14
cents per pound for 20 to 30 mesh. Some lots
of superior quality continue to be held at
premiume over these prices.


V9LL 68lo10 9ZI, C

ViaOI=Id do AilSa5AINn


i.. ;-







OCTOBER 28, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS


WASHINGTON, D.C.


DRY MILK MARKET REPORT FOR OCTOBER 1937
MANUFACTURERS' WHOLESALE SELLING PRICES DURING.SEPTEMBER
THE WHOLESALE.PRICES GIVEN BELOW ARE BASED.UPON REPORTS FROM MANUFACTURERS
COVERING AdTUAL SALES TO JOBBERS, WHOLESALE GROCERS AND SIMILAR BUYERS FOR GOODS
F,-.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
(BULKBULK GOODS) (BUBLK GOODS) (BULK
REPORTED SALES REPORTED SALES REPORTED SALES
POUNDS POUNDS
PRICE IN BAGS IN BBLS. PRICE POUNDS PRICE IN BAGS IN BBLS.
3 3- 23,821 14i 15 10,200 31- 1,315,923
31 4 876,950 15 16 40,100 4 5 162,405 -
4 4 2,291,234 167 17 6,588 5 6 700,355 66,900
4k 5 853,247 325,000 171 8 809,093 6 7 -
5 51 1,709,987 257,130 18- 19- 237,650 7 8 66,949
52 6 421,034 651,314 19} 20- 21,731 8A 9 11,892
6 61 8,833 3,051,522
6 7 46,229 3,610,333
7 7- 126,560 5,952,385
7 8 3,578,287
8 82 1,819,344
8- 9 155,548
9 9 2,706
TOTAL 6,357,895 19,403,569 1,125,359 2,178,683 145,741
GRAND TOTAL 25,761,464 1,125,359 2,324,424
AVERAGE PRICE 4.62( 7.01 5.070 7.21
SEPT,1937 6.42 18.165 5.200
AUG. 1937 6.39 16.920 4.78
SEPT.1936 8.93U 19.13 i 7.220


WHOLESALE PRICES REPORTED ON CASE GOODS WERE
DRY WHOLE MILK (I LB. CANS) 35.780 PER POUND


AS FOLLOWS:


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


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


DRY SKIM MILK
(CENTS FER LB.)
BAGS BBLS.
5.25 7,125 8.5 KANSAS CITY
3.75 5.75 6.25 9 SEATTLE
7. 8.5 PORTLAND
4.25 6.5 6.5 9 9. Los ANGELES
8 8.5 SAN FRANCISCO
MANUFACTURERS' STOCKS OF DRY MILK


BAGS

5 6.5
4.5- 5.5

5.5- 6.75


BBULS.
7.5 8.5
6.4 8
6,66- 8
6.5 7.75.
6.93- 7.75


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..

TOTAL STOCKS ON HAND
CLASSES OF OCTOBER I, 1937
DRY MILK IN B'AG I BARRELS TOTALOUNDS(A)FIRMS*
(POUNDS) POUNDS TOTAL POUNDS) FIRMS
WHOLE MILK 4,991 1,566,570 3,403,372 20
SKIM MILK 4,514,552 32,970,730 37,544,801** 118
PART SKIM 0 32,850 90,.953 3
CREAM POWDER 0 1,450 1,450 2
BUTTERMILK 5,822,338 371,023 6,193,361 64
(A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK I,831,811
POUNDS; SKIM 59 519 POUNDS; PART SKIM 58,103 POUNDS.
**EQUIVALENT TO 46 DAYS' REQUIREMENTS: ON THE BASIS OF THE
AVERAGE DAILY REQUIREMENTS FOR THE PAST YEAR, AS CALCULATED
FROM REPORTS OF THE BUREAU OF AGRICULTURAL ECONOMICS, STOCKS
OF DRY SKIM MILK ON OCTOBER. I, WERE EQUAL TO APPROXIMATELY
40 DAYS' REQUIREMENTS IN COMPARISON WITH 42 DAYS ON
SEPTEMBER I, 1937: CALCULATED ON'THE SAME BASIS A YEAR AGO,
STOCKS ON HAND OCTOBER I, 1936 WERE THE EQUIVALENT OF 26
DAYS' SUPPLY TOTAL STOCKS SEPTEMBER I, 1937 INCLUDING
LATE REPORTS : DRY WHOLE MILK 2,857,600 POUNDS; DRY SKIM
MILK 40,218,951 POUNDS; DRY BUTTERMILK 6,660,415 POUNDS,
COMPARISON OF .TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (POUNDS) ON HAND FOR SAME FI-RMS REPORTING
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* OCT. 1,1937 OCT. 1,1936 FIRMS* OCT. 1,1937 SEPT.I,1937
WHOLE MILK 19 3,403,192 4,.091,834 20 3,403,372 2,857,600
SKIM MILK 108 36,867,594 22,391,275 118. 37,544,801 40,137,456
PART SKIM 3 90,953 82,622 3 90,953 118,775
CREAM POWDER 2 1,450 0 2 1,450 1,611
BUTTERMILK 60 6,163,653 3,096,391 64 6,193,361 6,659,440
FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE.MORE THAN ONE FACTORY.


(OVER.)
OCTOBER 1937


UNIV. OF-FL LI.




U.S. DEPOSTORY







PRODUCT IbN.OF DRY MILK REPORTED'BY MANUFACTURERS SEPTEMBER


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES.
COMPARISON OF PRODUCTION (POUNDS) FOR SAME,FIRMS
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS.MONTH
FIRMS* SEPT.1937 SEPT.1936 FIRMS* SEPT.1937 AUG. 1937
WHOLE MILK_ 18 1,905,469 1,315,763 19 1,905,649 838,520
SKIM MILK 107 18,131,969 21,702,860 115 18,563,573 20,878,541
PART SKIM 2 725 63,290 2 725 12,951
CREAM POWDER 2 3,899 2,165 2 3,899 4,979
BUTTERMILK 58 2,227,942 2,995,957' 61 2,255,242 2,282,651
REPORTS INDICATE THAT SEPTEMBER PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 4.25 BARRELS 89.64% CASES 6.11%.
DRY SKIM MILK:. 22.57%(4,189,424 LBS) 77.43%(14,374,149 LBS)
DRY BUTTERMILK: 95.02%(2,143,034 LBS) 4.98%( 112,208 LBS)
PRODUCT ON'DRY SKIM *MILK AUGUST 1937 (INCLUDING LATE REPORTS) BAGS 4,643,585 LBS.
(22.08%). BARRELS 16,386,065 LBS. (77.927f); TOTAL 21,029,650 POUNDS (SUBJECT TO
REViSION '
PRODUCTION DRY SKIM MILK AUGUST 1936 -.26,914,000 POUNDS (FINAL FIGURE).
*FIGURES SHOWING NUMBER OF FIRMS DO NOY REPRESENT' NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.

EXPORTS AND IMPORTS OF DRY MILK DURING AUGUST 1937


EXPORTS

TOTAL AUGUST 1937
TOTAL AUGUST 1936
JAN. AUG. (INC.) 1937
JAN. AUG. (INC.) 1936


POUN6s
409,445
311,695
2,466,025
2,568,237


IMPORTS

TOTAL AUGUST 1937
TOTAL AUGUST 1936
JAN. AUG. (INC.) 1937
JAN. AUG. (INC.). 1936


POUNDS
12,304
2,508,532
2,815,886
18,675,832


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


1937
111,454 LBS.
4,678,597 LBS.


1936
1,695,571 LBS.
11,863,144 LBS.


OCTOBER DRY MILK MARKETS GENERALLY STEADY PRODUCTION LOWER AND
RESERVES SHOW DECLINES


The dry milk markets in October remained
generally quiet with practically no changes
from those of the preceding month. Demand was
not particularly active, but sufficient, in
connection with a lower- rate of- production, to.
bring about an improved statistical position
on supplies. Hot roller,process for animal
feed appeared to be in the best.position, with
prices fractionally higher in some cases.
Spray powder for human consumption continued
in moderately liberal supply, and while the
tone was generally steady with no definite
change in prices, it is understood that
quotations were shaded in a few sales where
inventories were considered to be undesirably:
large.

Sales of dry skim milk by manufacturers
in September amounted to 25,761,000 pounds, an
apparent increase of around 21 million pounds
over the sales of September last year. The
encouraging feature of this increase is that
it represented heavier buying by commercial
users, as all deliveries on the last Federal
buying program were completed some time ago.
Sales of dry whole milk were also larger than
a year earlier, but sales of dry buttermilk
were less.

For the second successive month the
average price of dry skin'milk sales was
higher than that of the preceding month,
averaging 6.42 cents per pound in September
compared to 6.39 cents per pound in August.
This was,.however, considerably lower than the
Average of 8.93 cents per p9und in September
last year. The average price on dry whole milk
sales was also higher, amounting: to 18.16 cents
per pound in September compared to 16.92 cents
in August. Dry buttermilk averaged 5.20 cents
compared to 4.78 cents a month earlier. Prices
on both products, however, were lower than.in
September, last year.


OCTOEFE


Production of dry skim milk in
September was about'16.5 percent less than
that of the same month last year. This
decrease was considerably larger than that
reported for the previous month,-and follows
similar changes in the production of. other
manufactured dairy products; The production
of dry.buttermilk was 25.6 percent smaller
than in September 1936, but the output.of dry
whole milk was 44.8 percent more.

Larger sales and smaller production
than that of a year..earlier resulted in an
improved statistical position of the market in
contrast to that of September last year.
Total stocks of dry skim milk held by manu-
facturers on October 1, 1937, were the
equivalent of 40 days' supply, a decrease of
2 days' supply from that of September 1. Last
year there was an increase of 3 days' supply
between the two dates. Due to the heavy
September production stocks of dry whole milk
showed an increase on October 1 over those of a
month earlier, but supplies of dry buttermilk
were less.

The casein markets in October were
exceptionally dull. Buying by paper coaters
was very light, due, perhaps in some cases, to
rather large inventories still on hand.
Production also was light, but supplies
appeared to be fully ample for the scant demand.
Prices were.unchanged, although an occasional
shading on small lots was reported. Quotations
on carlots delivered Atlantic Seaboard points
for 20 to 30 mesh held mostly in the
neighborhood of 13 to 14 cents per
pound, with a few sales made at prices
slightly lower than 13 cents but the
volume was not large,









R 193,7


LLVL 6ZLO8 Z9ZI U

Vi011074 0o AlSa3AINn


PAGE 2







NOVEMBER 24, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
DRY MILK MARKET REPORT FOR NOVEMBER 1937


WASHINGTON,D.C.


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 DIFFERENCE'S 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 29,078 14- 1.5- 38,700 3 3- 16,350
3 4 1,252,285 15 1& 3 4 1,173,559
4 4 409,303 I6 17 416,097 4- 5- 1,209,715
S- 5 1,741,890 306,200 17- 18 63,475 5 6- 31,175
5 1,316,720 479,465 8 19 382,229 7- 54,232 169,279
5% 6 61,403 1,033,939 91 20 284,030 7 8 4,750
6 6 1,750 1,940,842 20 210 9 8,594
S- 7 7,221 3,549,487 21 22 800
7 71 1,417 7,920,497
7 8 42,042 3,827,552
8 8k 1,065,683
8- 9 110,000
TOTAL 4,863,109 20,233,665 1,185,331 2,485,031 182,623
GRAND TOTAL 25,096,774 1,185,331 2,667,654
AVERAGE PRICE 4.550 6.970 4.770 7.100
OCT. 1937 6.500 18.270 4.930
SEPT. 1.937 6.420 18.16 -55.200
OCT. 1936 9.060 20.550 7.23


DRY WHOLE


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


WHOLESALE SELLING PRICES F.O.B.


DISTRIBUTING POINTS OCTOBER


DRY SKIM MILK
(CENTS PER LB.)


BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELAND
ST. Louis


BAGS

4.5 5.75

4.5

5.25


BBLS.
7.125 8.5
6.25 9
6.68 8.5
6.5 9.5
8.5
7.5 8.5


KANSAS CITY
SEATTLE
PORTLAND
Los.ANGELES
SAN FRANCISCO


BAGS BBLS.
7.5 8.5
4.5 6.33 7.75
4.5 6.02 7.75
6.5 7.75
4.25 6.58 7.75


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 (UNSOLD) FOR WAREHOUSE CONSIGN-
MENT, AND WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.

TOTAL STOCKS ON HAND
CLASSES OF _NOVEMBER 1, 1937
DRY MILK IN BAG BARRES TOTAL POUNDS() FIRMS
(POUNDS POUNDS TOTALPOUNDSAFIRMS
WHOLE MILK 83,090 1,439,501 3,335,649 20
SKIM MILK 3,729,728 27,352,127 31,134,810** 120
PART SKIM 0 10,109 59,737 3
S CREAM POWDER 0 1,660 1,660 2
BUTTERMILK 5,652,148 370,834 6,022,982 65
d (A) INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,813,058
POUNDS; SKIM 52,955 POUNDS; PART SKIM 49,628 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
I. OF DRY SKIM MILK ON NOVEMBER I, WERE EQUAL TO APPROXIMATELY
33 DAYS' REQUIREMENTS IN COMPARISON WITH 40 DAYS ON
OCTOBER I, 1937: CALCULATED ON THE SAME BASIS A YEAR AGO,
STOCKS ON HAND NOVEMBER I, 1936 WERE THE EQUIVALENT OF 29
DAYS' SUPPLY. TOTAL STOCKS OCTOBER 1, 1937 (INCLUDING LATE
REPORTS): DRY WHOLE MILK 3,403,372 POUNDS, DRY SKIM MILK -
37,644,351 POUNDS; DRY BUTTERMILK 6,193,86 POUNDS.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (POUNDS) ON HAND FOR SAME FIRMS REPORTING
LDRYS LKOF PREVIOUS YEAR PREVIOUS MONTH
FIRMS* Nov. 1,1937 Nov. 1,1936 FIRMS* Nov. I,1937 OCT. 1,1937
WHOLE MILK 19 3,335,634 4,253,749 20 3,335,649 3,403,372
SKIM MILK 117 31,105,509 26,028,429 120 31,134,810 37,629,344
PART SKIM 3 59,737 66,792 3 59,737 90,953
CREAM POWDER -_ 2 1,660 1,450
BUTTERMILK 64 6,022,574 3,377,511 65 6,022,982 5,822,863
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
FIRMS OPERATE MORE THAN ONE FACTORY.
(OVER)
NOVEMBER 1937







PAGE 2


PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS -OCTOBER


INCLUDES REPORTS FROM PRINCIPAL FIRMS OPERATING DRY MILK FACTORIES IN THE
UNITED STATES. __ _____
CASSOCOrMPAP I'SON OF PRODUCTION (POUNDS FOR SAME FIRMS
CLASSES OF PREVIOUS YEAR PREVIOUS.MONTH
DRY MILK
FIRMS* OCT. 1937 OCT. 1936 FIRMs* OCT. 1937 SEPT. 1937
WHOLE MILK 19_ 1,821,076 1,415,700 20 1,827,614 1,905,649
SKIM MILK 116 16,788,475 23,974,935 117 16,848,865 18,679,986
PART SKIM 3 2,250 52,494 3 2,250 725
CREAM POWDER 2 3,960 3,899
BUTTERMILK 63 22,618,331 3,488,981 63 2,618,331 2,255,242


REPORTS IND
DRY WHOLE MILK: BAGS
DRY SKIM MILK: "
DRY BUTTERMILK: "


)ICATE THAT OCTOB-R PRODUCTION WAS PACKED AS FOLLOWS:
6.52e BARRELS 89.98% CASES 3.50%.
21.96%(3,699,804 LBS) II 78.04%(13,151,0 1 Ls)
93.12%(2,438,207 LBs) 6.88%( 180,124 L.s)


PRODUCT ON DRY SKIM MILK SEPTEMBER 1937 INCLUDINGG -LATE..REPORTS)BAGS 4,309,317L
(22.97') BARRELS 14,448,168 LBS. (77.03 ); TOTAL 18,757,485 POUNDS (SUBJECT TO
REVISION),
PRODUCTION DRY SKIM MILK SEPTEMBER 1936 28,456,000 POUNDS (FINAL FIGURE).
t 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 SEPTEMBER 1937


EXPORTS

TOTAL SEPTEMBER 1937
TOTAL SEPTEMBER 1936
JAN. SEPT. (INC.) 1937
JAN. SEPT. (INC.) 1936'


POUNDS
366,185
291,153
2,832,210
2,859,390


CASEIN IMPORTS SEPTEMBER 27


CASEIN IMPORTS JAN. SEPT. (INC.)


IMPORTS

TOTAL SEPTEMBER 1937
TOTAL SEPTEMBER 136
JAN. SEPT. (INC.) 1937
JAN. SEPT. (INC.) 1936
1937 1933
'6,051 LeS. 1,821,910 LBS.


4,954,648 LBS.


POUNDS
37,400
3,123,924
2,853,286
21,799,756


13,685,054 LBS.


DRY MILK MARKETS GENERALLY STEADY SALES WELL MAINTAINED WITH PRODUCTION LOWER


A further sharp drop in the production
of dry skim milk in Octcber, together with the
calling for bids on 5,00,000 pounds of dry
skim milk by the Federal Surplus Con.odities
Corporation in early November, resulted in a
rather widespread improvement in senLimeint in
the dry milk industry, according to the Bureau
of Agricultural Economics. Helpful in that
direction, also, was the continued gcoo demand
for dry skim milk throughout Octcber: which,
reported manufacturers, resulted in sales
approximately as large as those of October,
last year, when industrial conditions -ere much
better, and well above the 5-year (1932--36)
average for October. Although the Federal
Surplus Commodities Corporation did not accept
any of the bids submitted in response to its
recent proposals, it is understood that
another schedule calling for a similar amount
will be issued shortly.

The seasonal decline in dry skim milk
production in October was rather pronounced,
according to reports received from representa-
tive manufacturers. Compared with the
preceding month, October production was down
by almost 10 percent, while it was 30 percent
less than that of October, last year. A
smaller production, combined with the relative-
ly favorable sales during October, resulted
in a substantial decline in stocks of dry skim
milk held by manufacturers.

Reports from manufacturers of dry skim
milk as of November 1, 1937, showed a total of
31,135,000 pounds held in reserve on that
date. On the basis of the average-daily
requirements for the past year, as-calculated
from preceding reports of this series, stocks


of dry skim milk on November 1 were equal to
approximately 33 days' supply in comparison
with 40 day;' surely on October 1, 1937, and
29 lays' supply on Noverber 1, last year.
Visible supplies of dry whole milk and dry
butter-ilk, h-wever, declined only fraction-
ally during October. This vwas due largely to
a rather substantial increase over a year
earlier in the production of dry wholemilk,
while the decrease in the production of dry
butter:;ilk was less siarp than that of dry
skim milk.

The average price of dry skim milk
sales in-October was slightly higher than in
September, due primarily to the fact that
sales of dry skin milk in barrels made up a
larger proportio-i of the total sales than in
the previous month. The average price for all
sales of iry ski.:, milk reported in October
was 6.50 cents per pound compared with 6.42
cents in September, this year, and 9.06 cents
in October, last year. The average price of
dry whole milk sold in October was fraction-
ally higher than in September, but that of dry
buttermilk was less.

The casein market in November was
generally weak and unsettled. Recent business
decline has resulted in a sharp falling off in
demand, and as supplies were quite liberal,
sellers were willing to make sizable con-
cessions in order to interest buyers. At
that, only a very small volume was reported
sold, Quotations on carlots delivered
Atlantic Seaboard points on 20 to 30 mesh,
mostly il- to 121 cdnts per pound, with a
few sales at 13 cents.


NOVEMBER 1937


6gZ'L 68L Z9 0Z C

VaIEI0:1d JO AiIS8lAINn


Be








DECEMBER 28, 1937.


UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS


WASHINGTON, D.C.


DRY MILK MARKET-REPORT FOR DECEMBER 1937
MANUFACTURERS' WHOLESALE SELLING PRICES DURING NOVEMBER
THE WHOLESALE PRICES GIVEN BELOW ARE BASED UPON REPORTS FROM MANUFACTURERS
COV:PING ACTUAL SALES TO JOBBERR, 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 DRY WHOLE MILK DRY BUTTERMILK
(BULK GOODS) (___ BULK GOODS) _(BULK GOODS)
REPORTED SALES R' REPORTED SALCS REPORTED SALES
POUNDS POUNDS
PRI CE IN BAGS IN BBLS. PR ICE POUNDS PRICE IN BAGS IN BBLS.
3 3- 27,034 17 17 275,705 34 42"o 1,083,635
3 4 411,112 17-' 181 19,988 44- 5 2,595,207-
4 4g- 506,915 18-X 19- 359,527 5- 6- 66,520 107,925
4- 5 848,971 38,800 19 20. 250,605 7- 51,470 -
5 51 1,971,452 509,461 7 8 148,750
S- 6 460,5-11 2,170,910 I- 7,456
S- G 28,920 1,464,305 0- -
S- 7 42,125 2,864,463 Io--I1 700
7 7 5,922,487
7- -8 3,633,886
8 8. 1,077,161
8 9 166,775
9 92 2,000
TOTAL 4,297,040 17,850,248 905,825 3,796,832 264,830
GRAND TOTAL 22,147,288 905,825 4,061,662
AVERAGE PRICE 5.()0 6.99 4.930 7.',1
NOV. 1937 6.60. 18.67 I 5.07.
OCT. 1937 6.50 18.27 4.93
NOV. 193G 8.89 020.78 __7.01-


-DRY WHOLE MILK
WHO



BOSTON
NEW YORK
PHILADELPHIA
CHICAGO
CLEVELANG
ST. Louis


WHOLESALE PRICES REPORTED ON CASE GOODS
(I LB. CANS) 36.91 PER POUND.


LESALE SELLING PRICES F.O.B.


BAGS
5.5
4,5 5.75

5,5 6.5
5.25
5.5


WERE AS FOLLOWS;


DISTRIBUTING POINTS NOVEMBER


DRY SKIM MILK
(CENTS PER LB.)

7.125 8.5 KANSAS CITY
6.5 9 SEATTLE 4
7.125 8.5 PORTLAND 4
7.16 9 Los ANGELES
8.5 SAN FRANCISCO 5
8.25 8.5 .
MANUFACTURERS' STOCKS OF DRY MILK


BAGS

-.5 6.5
.5 5.5

.5 6.75


BBLS.
7.5 8.5
5.75 7.75
5.87 7.75
6.5 --7?75
G.58 72175


TOTAL STOCKS ON HAND INCLUDE ALL STOCKS IN POSSESS-ION OF MANUFACTURERS
REPORTING, WHETHER MANUFACTURED BY THEM OR PUqCHASED FROM OTHERS, WHETHER ON
THEIR OWN PREMISES, IN STORAGE OR IN TRANSIT (UNSOLD) FOR WAREHOUSE CONSIGN-
MENT, AND WHETHER SOLD OR CONTRACTED FOR SALE BUT NOT DELIVERED.
TOTAL STOCKS ON HAND
CLASSES OF DECEMBER 1, 1937
DRY MILK I BA 'BARRE S TOTAL POUNDS(A) FIRMS*
( POUNDS POUNDS ..
WHOLE MILK 2,875 1,301,519 3,102,653 19
SKIM MILK 2,744,478 24,378,949 27,170,733** 119
PART SKIM 0 12,264 70,120 3


CREAM POWDER


.. 362


____- .----T 4 4 ----


BU .T-ILK 4,469,612 297,009 4,766,621 65
A, INCLUDES CASE GOODS AS FOLLOWS: WHOLE MILK 1,798,259
PO INor; SKIM 47,306 POUNDS; PART SKIM 57,856 POUNDS.
**E 'JIVALENT 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 DECEMBER 1, WERE EQUAL TO APPROXIMATELY
29 DAYS' REQUIREMENTS IN COMPARISON WITH 33 DAYS ON
NOVEMBER I, 1937: CALCULATED ON THE SAME BASIS A YEAR AGO,
STOCKS ON HAND DECEMBER I, 1936 WERE THE EQUIVALENT OF 32
DAYS SUPPLY. TOTAL STOCKS NOVEMBER 1, 1937 (INCLUDING LATE
REPORTS): DRY WHOLE MILK 3,335,649 POUNDS DRY SKIM MILK -
31,165,575 POUNDS; DRY BUTTERMILK 6,026,267 POUNDS.
COMPARISON OF TOTAL STOCKS REPORTED BY MANUFACTURERS
TOTAL STOCKS (FOUNDS) ON HAND FOR SAME FIRMS REPORTING
CLASSES OF
DRY MILK PREVIOUS YEAR PREVIOUS MONTH
FIRMS* DEC. 1,1937 1EC. 1,1936 PIRM,* DEC. 1,1937 Nov. 1,1937
WHOLE MILK 19 3,102,653 4,098,206 19 3,102,653 3,335,649
SKIM MILK 115 27,085,014 28,857,856 118 27,164,758 31,156,082
PART SKIM 3 70,120 67,761 3 70,120 59,737
CREAM POWDER 2 3,362 1,051 2 3,362 1,660
BUTTEP:v ILK( 63 4,672,971 3,378,926 65 4.766,681 6,026,207
*FIGURES SHOWING NUMBER OF FIRMS DO NOT REPRESENT NUMBER OF FACTORIES SINCE SOME
R IFrZjl M. r- x t r MI- ( Mt A er f


F PS UP AiTL P4FE THAN ONE FACTORY'
r i i'.lVl j '^JFr-i\,^ i cs iif1 u r'c ln~l^ v 11 r lab IUr ; t
(oVE R)
DECEMBER 1937


UNIV. OF FL LWi.



U.S. DEPOORY
U.S. DEPOSITOfY


,I-I-








PRODUCTION OF DRY MILK REPORTED BY MANUFACTURERS NOVEMBER


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
DRY ML FIRMs* Nov. 1937 Nov. 1936 FIRMS* Nov. 1937 OcT. 1937
WHOLE MILK 18 1,253,506 904,504 18 1,253,506 I1,827,614
SKIM MILK 112 15,271,024 20,136,532 115 15,289,553 16,786,980
PART SKIM 2 18,503 51,332 2 18,503 2,250
CREAM POWDER 2 7,612 4,817 2 7,612 3,960
BUTTERMI LK 62 2,893,595 3,217,-120. 63 .2,912,755 2,632,035
REPORTS INDICATE THAT NOVEMBER PRODUCTION WAS PACKED AS FOLLOWS:
DRY WHOLE MILK: BAGS 3J9 9 BARRELS 85.04% CASES 11.77%.
DRY SKIM MILK: 22.14 (3,386,566 LBS) 77.86 (i1,910,137 LBS
DrY. BUTTERMILKt<:' 93.36,(2,701 ,509 LBS) 6.64 ( 92,086 LBS
PRODUCT ON DRY SKIM MILK OCTOBER 1937 (INCLUoING LATE REPORTS) BAGS 3 759,623 LBS.
22.20%) BARRELS 13, 178,320 LBS. (77.80Uo); TOTAL 16,937,943 POUNDS (SUBJECT TO
REVISION).
PRODUCTION DRY SKIM MILK OCTOBER 1.936 29,689,000 POUNDS (FINAL FIGURE).
*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 1937


EXPORTS


TOTAL OCTOBER 1937
TOTAL OCTOBER IS36
JAN. OCT. (INC.) 1937
JAN. OCT. (INC.) 1936


POuNDS
570,634
326,955
3,402,844
3,186,345


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


IMPORTS

TOTAL OCTOBER 1937
TOTAL OCTOBER 1936
JAN. OCT. (INC.) 1937
JAN. OCT. (INC.) 1936


1937
113,619 LBS.
5,068,267 LBS.


1936
1,069,305
14,754,359


POUNDS
47,563
1,f69,430
2,900,849
22,969,186


LBS.
LBS.


DRY MILK MARKETS STEADY TO FIRM IN DECEMBER CASEIN MARKET WEAK


DI1'lyilk markets in December were
generally steady to firm, with prices mostly
- cent higher, according to the Burea.u of
Agricultural Economics. Production of dry
skim nilk in Novombcr was only about three-
fourths as large as thLt of November last year.
With a fairly well sustained buying demand
throughout late November azid into early
December, stocks of dry skim milk accumulated
by manufacturers showed further shrinkage.
Disappointment at the failure of the. Federal
Surplus Comrodities Corporation to accept any
of the bids submitted early in Novenber in
connection with the buying program : for relief
distribution brought some selling pressure
into the dry milk market, but such goods were
absorbed without difficulty.

Sales of 22,147,000 pounds of dry skin
milk in Novembeor were reported by manufacturers.
This volume owas Tbout 2,000,000 pounds in
excess of the November sales of last year and
about 2,300,000 pounds above the November
5-year average. The average price for all sales
reported for November was 6.60 cents per pound,
making November r the fourth consecutive month
for which the average monthly price was higher
then thet of the preceding month.

Sales of both dry whole milk and dry
buttermilk were sharply above those of
November, last. year. The increased hatch of
baby chicks this fall has widened the demand
for dry buttermilk, which is used extensively
in commercial poultry feed for young chicks.
















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Stocks of dry skim milk reported by
manufacturers on December 1 amounted to
27,171,000 pounds, the equivalent of 29 days
average requirements. On the same date last
year the amount of dry skim milk in the
warehouses of manufacturers amounted to 32
days' supply. -Stocks of dry skim milk in
November wore reduced by the equivalent of a
4 days' supply. During the period of 1930 to
1936 stocks declined from November 1 to
December 1 in three of the seven years,
increased in three years, and remained
unchanged in 1 year. Stocks of dry whole milk
on.December 1 were smaller than those of the
preceding month this year, and the same month
last year. Stocks of dry buttermilk showed a
substantial decline during November, but on
December 1 were still considerably larger than
those of the corresponding date of last year.

Production of dry skim milk in November
was about 24 percent less than in November,
last year. The production of dry whole milk
was almost 39 percent larger, but that of dry
buttermilk was around 10 percent less.

The casein market in Noveifber was
generally weak, with stocks heavy and trade
very slow. Selling was of extremely light
volume, as buyers were in the market for only
small lots, and showed little interest in
making commitments for future deliveries.
Prices we're difficult to define, but 10 to 12
cents per pound would probably cover the great
bulk of oarlot sales fCo.b. Atlantic Seaboard
points.


ER 1937


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