World hog and pork prospects

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Material Information

Title:
World hog and pork prospects
Physical Description:
v. : ; 27 cm.
Language:
English
Creator:
United States -- Bureau of Agricultural Economics. -- Division of Statistical and Historical Research
Publisher:
Bureau of Agricultural Economics, Division of Statistical and Historical Research
Place of Publication:
Washington
Frequency:
monthly
regular

Subjects

Subjects / Keywords:
Swine -- Statistics -- Periodicals   ( lcsh )
Pork industry and trade -- Statistics -- Periodicals   ( lcsh )
Genre:
federal government publication   ( marcgt )
periodical   ( marcgt )

Notes

Dates or Sequential Designation:
- HP-83 (Oct. 1936).
General Note:
Reproduced from typewritten copy.
General Note:
Description based on: HP-8 (July 9, 1930).

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 026660448
oclc - 30588199
Classification:
lcc - HD9435.U5 A25
System ID:
AA00013004:00005

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Succeeded by:
Hog situation


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Full Text


UNITED STATES DFPAiT;T"TT 0 AGRICULTURE JP ,' P
Buro u of A.,riculturrl Econocs .....
Washing ton....

HP-12 i1ovei!ber 1 !rJBOSITORY

VORLD HOG A1TD PORK PROSPECTS



THIE WORLD SITUATION

European pork production continued upward during October, accord-

, ing to information available in the Bureau of Agricultural Economics. A

seasonal increase in slaughter supplies occurred in the United States

and hog prices both at home and abroad were generally lower. The sharp

September advance in lard prices was well sustained during October both

in Europe and the United States. World storage stocks of lard are at an

unusually low level, but low prices of lard substitutes continues to be

a depressing factor.

Receipts of Danish pork in the United Kingdom continued unusually

heavy and pork prices in British markets were mostly lower than in

September. American pork did not share in the decline largely as a result

of a sharp curtailment in receipts. Hog marketing in Gennany continued

large and prices are now close to pre-war levels. Increased hog numbers

in the Netherlaids has not as yet been reflected in export trade. FPod

prices declined at home and abroad during October, but hog-feed ratios

were still below the October average of recent years.

The pork marketing year 1929-30 closed on Septouber 30 with most of

the supp-ly, demand and price factors having moved along anticipated lines

in both the United States and Europe. Th.e smaller total United States

slaughter sugested early in the season was realized, the number of hogs

killed being about 7 per cent below the 10923-29 total. In spite of the

reduced offerings, however, American hog prices averaged lower than in





HP-12 -2-

1928-29, as a result of weaker domestic and foreign demand for American

pork products.

Total United Steses exports of hams and shoulders, excluding

Cumberland and Wiltshire sides, ran about 5.6 per cent below the 1928-29

total. The bulk of the reduction occurred in exports to countries other

than Great Britain, and largely in bacon, ti-e latter country having main-

tained its takings of American hams. The export movement in lard, excluding

neutral lard, was relatively smaller than that of cured pork. Particularly

sharp declines occurred in lard exports to Germany. Lard prices in all

markets averaged lower for the season than in 1928-29.

1Expandin, domestic supplies and r euced'buying power were leading

factors in the less favorable German market. Relatively cheap supplies

of vegetable oils appeared to be an increasingly important competitive

factor in all European lard markets, notably Germany. Unusually heavy

Lanish supplies of cured pork were an important influence for lower prices

in the British market for American cured pork.

United States

A sc.sonal increase in slaughter sunplics of hogs in the United States
during October was accoinmanied by lower prices for hogs and for most cuts
of fresh and cured pork,. Hog prices at Chicago, after declining to an average
of $8.96 for the first week of the month, advanced during the second week
and then declined during the remainder of the month, making a monthly aver-
age of $9.34 as compared witn $9.76 for September and $9.38 for October 1929.
The price spread in favor of heavy hogs continued to widen and the average
live weight at Chicago was 227 pounds, the smallest for the month since
1917, -2d 17 pounds less than that of Septcmbcr. Federally inspected
slaughter mounting to 3,492,000 head was 26 per cent larger than that of
September but 9.5 per cent smaller than the inspected killings of October 1929.

Corn prices declined during October. io. 3 yellow at Cliic-go averaged.
82 cents as against 94 in Se-tember and 94.5 in October 1929. A relatively
greater decline in corn prices than in hog prices resulted i- an advance in
the corn-hog ratio. In the north central States, the ratio, based on 15th-
of-the-month farm prices, averaged 11.7 as compared with 11.1 in September,
10.3 for October 1929, and 12.6 for the 8 year (1922-1929) average.





HIP-12


L:;rd prices-at Cbica c, .ftt.r rdvnncirr .'..75 per hundred pounds from
July to September, declined only moderately during October, making an average
of 513.94 as compared with ';14.25 for S...teiiber and ',13.17 for October 1?29.
Exports of lard (excluding neutr-l lnrd) during Septer.ber wore 24 per cont
smaller than in August and 36 per cent under those of Septeirber 1'29. The
total export movement for the i:arketing year ended SiLLtrbrL1 3C, 1'350 was E
per cent less than that of the 19.2E-1029 mra:ketin,7 yolr. Storage stocks of
lard on October 1, amounting to 60 million pounds we:'e 61 per cent smaller
than those of October 1, 1929 and the smallest October 1 stocks on record.

Wholesale prices for .ost cuts of fresh pork averr:-ed -lower during
October. Heavy loin prices advanced, however, which was largely a reflection
of the smaller-than-usu-l proportion of hervy hoSg 'in the r-arket supply during
the last two months. 8 to 10 pound loin prices at Chicago averaged '23.48 for
the month as against $26.05 in September and 325,.56 in October 122J, while 16-
22 pound loins averaged .:;17.88 as against '16.72 in September and ''19.12 a
year earlier.

Wholesale prices of cured hams we-: generally iower. 12-14 pound TC. 2
regular hans at Chicago averaged .;23.10 r.s compared with '25 .00 in September
and $"24.10 in October 19B9. Bacon prices contirnud to advance and averaged
considerably highe' th-n a year earlier. No. 1 dry cure bUcon 8-10 pounds at
Chicago averaged ';:2.40 as against 31.38 in Septermber and "'2-.6 in October
1929. Prices of smoked picnics mrude little change as compared to September
levels. Dry salt backs averaged ;1.00 higher than in Scpteribor and about 50
cents higher thr.n in October of lact year.

The export movement of fresh 'nd cured pork during September was 32 rer
cent smaller than that of August and 40 per canrt under that of a y:t.r ocrlier.
Total bacon exports of 4,973,0CO pounds v,-~-r 2b per cent less th'n those of
August and 52 per count under So-.tcr.bcr 192l exports. Takings by United Kingdom
were only about hulf those, for August and purchases by Cube ;vrr: reduced 11
per cent. Purchases by Gerr-many continued at the relatively low level of re-
cent months and wore only .bout on,-fifth 's lrrge cs thosu of September 6f
last yocr. Exports of h:ms nnd should-:rs in Scptemjbur were 41 per cent small-
or than in August and 24 per cent under those of Soptrmber 1929. Tckings by
Canadc rnd Cub- rre mrturi:lly larger th:n in August, but these we-c much
more th-n offset by the 52 per count reduction in tr-kings by Unite-d Kingdom.
Bacon exports for the narl:kting yerr undud September 30, r-re 15 per c nt under
those of the 1928-29 mark-ting ye' r, even though the mov..nnt was considerably
larger during the first hclf of the y-rr th-n during the same period a ':'r
ocrlipr. Exports of h.:ms nd shoulders for the: marketing y-,r wore about 4 per
cent larger th-n during the ye, r 1928-2'. Storrgo stocks of pork on October 1,
amounting to 448 million pounds w3re 25.5 per cent sr' llr thrn those on Octo-
ber 1, 1929 'nd 17.3 nur cent smerll-.r th:n the 5-yerr October 1, average.

United Kingdom

The he-vy output of D-nish porl: brought the Liverpool r'ver.go for
Wiltshire sides during October down to "17.25 pur 100 pounds, rccordin" to
Agricultural Cormmissioner Foley "t London. Thu 1'20-31 season, therefore,
opened with Liverpool prices for D-.nish products lov.cr than nt c.ny time since
the prc-n-r period. Anmeric-n green bellies rver-god ',19.88 for October, a
point slightly below the September ever:rgc, but bout 90 cents abovee the


- 3 -





average for October 1929. Sharply reduced supplies of American becon in Bri-
tish markets were largely responsible for the higher values of September
and October, and the advance over last year's values. The same forces were
important in sustaining the price of American short cut green hams during
the season ended September 30, last. The October, 1930, average of ?20.80
per 100 pounds, however, was the low point for the 1929-31 season and the
lowest for any month since May, 1928. Canadian green sides also ended the
1929-30 season on a relatively low level, and well under a year ago. There
were no quotations on that description during October.

Total bacon imports into the United Kingdom for the year ended Sep-
tember 30 were 5.6 per cent larger than in the preceding year and slightly
below the record imports of 1927-28. Receipts from Denmark during the
season just closed, however, reached the record total of 621,112,000 pounds.
For the last five months of the year, receipts ran over 54,000,000 pounds
monthly, nearly reaching 60,000,000 pounds for September, a record for any
one month. Receipts from the United States were down 9 per cent below a
year ago. The current total of little more than 60,000,000 pounds is the
smallest import of American bacon registered in recent years. Total imports
from the Irish Free State were 29 per cent below 1928-29 figures and re-
ceipts from Canada and the Netherlands viere down 34.7 per cent and 21.6 per-
cent respectively. Receipts from Continental sources other than Denmark
and Netherlands showed some tendency to increase, but they were not great
enough to offset the declines in all important countries other than Den-
mark. Liverpool stocks of cured pork on October 1, 1930, were unusually low.

The stronger tone in the Liverpool lard market as the 1929-30 season
closed continued into October, with the average for the month up slightly
at 113.33 per 100 pounds. With the exception of last year, however, the
current average was the lowest of any October for the past bix years. In'''
lard as well as in cured pork, October 1 stocks were unusually small. The
reduced rate of imports, largely from the United States, resulted in Sep-
tember receipts totaling slightly less than 13,000,000 pounds, the smallest
for any month since November 1926 and 23.5 per cent under a year ago.
Relatively heavy imports during nost months of the 1929-30 season, however,
resulted in the total for the year ended September 30, 1930, being only
slightly smaller than those of the two preceding years, and larger than id
1924-25 and 1925-26. During most of the post-war period, United Kingdom
imports of lard have run considerably heavier than in the pre-war period.

The somewhat s.asonal increase in domestic British pork supplies
noted in September was continued into October. In the latter month
about 57,000 hogs were received at representative British markets, the
largest number since January, 1930, but below receipts for October, 1929.
The 192>-30 season ended with a total of such market receipts at a point
14.5 per cent under the 1928-29 total. London Central Market supplies
of British and Irish fresh pork also increased seasonally in September
and October, the figure for the latter month reaching 7,972,000 pounds.









......!






- 5-


HP-12


The October receipts were larger than lest yenr and above those of nny
month since Jenunry ~1i'2. To:'1 receipts for the your ended Ceitemb.-r
30, 1930, we e 18.6 per cent below those of the preceding year. Indi-
cations are that in Grv't Brituin and Ireland hog producers continue to
get relatively higher returns in the fresh pork market th.n in bacon.
There was an increase over September in the October purchases of hogs by
Irish bacon curers, but the figures continue to run behind those of last
year.

Denmark and Netherlands

The increasing bacon exDorts from Dermark during recent months
brought the Sept .uber movement up to the record fiLure of 58,327,000
pounds, according to preli-invry returns. In 1927-28, the former season
of record production, the hiuvie-t totcl bccon export for any one month
was 56,405,0CO pounds in December 1927. The 1'`2.'-30 season's totLl ilso
registered a record -t more thun 614,COC,00C pounds. Beginning with lst
May, exports each month have run no lcwer than 51,000,000 pounds, Pecent
returns from the Netherl,.nds indicate total hog numbers for midsummer, 1230,
at 1,990,000. That figure indictteos an increase in tot;. 1 hogs since 1921
of 31 per cent. Hog fattening is .re'orted as still fairly profitable in
the Netherlands' -hure pigs are fattun'd .-wher raised and are not bought
for feeding. So far the additional IJethc.-rlands interest in hog raising
has not been r.flucted in incroesd British receipts of bacon from the
Netherlands. The September receipts vw c only modern to, although l:-.rgor
thb.n a year ago, and tot.l receipts for the y'ar funded September 30 wore
21.6 per cunt below the 1928-2C total.

Germnny

The current decline in Gorim:n hog prices brought the PBrlin average
for heavy hogs during October down to 112.41 per 100 pounds, according to
Agricultural Cozmnissioncr Stoore nt Berlin. The current' rvurge is mo-'c
then !6.00 under lIst y:..r's level -nd only 14 cents higher th:.n the pre-wmr
avcrr.go for October. The September 1305, r.ve.'cgu of 113.08 wns unusually
low for that month rnd indice ted a decline of a.bout 33 per cent below
September 1929 levels. Food potato prices rt Er-slau dropped sharply in
Septemb-r rs hoevy crop bucam-e -pp- rent, but the *'vrr- go for the month
wrs only 11 p.r cent low:r thrrn year :go. September brrloy prices "t
Leipzig were slightly ocsier during Septeombr, but the vve'rge of `'2.00
per 100 pounds w:s about thu. s .m s 1-'st yeOr's rvern.g for thrt month.
There r..- indications th.t in G-rmn-ny hog-r'eod price relationships ry
become inc 'jr.singly unf-vorrble during the next fcv months, -s *' result
of hog prices mr king r..l' tivoly gre: tcr duclincs th'n f-r-d pric-s.

It p,)e:-rs th't hog :-2c2ipts t 11 Gicrm n cities for October nore
not quite, as h:r-.vy -s in Sopt;embe-r. The tot-- of 334,000 hogs for thrt
month w s not only so: sonr.lly larger, but the 1-rgost of rny Feptomber of
the p. st 6 yurrs. Totl- rocipts for tihe y_:r ended September 30, 1930,
however, ve.-o 2.4 p.r cent under those of the prmceding yutr. Hog
slaughter rt 36 points in Germ:ny :Iso -;.-s unusu-lly h, vy for September,
rocching 427,000 h rd. The sl:-uhter figures ru.r- the l-rgest since





A;


-P- 12


October 1928. Indicationsa ae for a contirnL:sd heavy rate of slaughter in
Germany,. but the 1929-30 season closed on Septenber 30, last, with'total"
killings for the season 4 per cent under those of a year earlier. The
tendency toward increased domestic pork production has been discouraging'
imports since last June, with preliminary return's for September'showing an
import of only 992,000 pounds of bacon, largely from the iletherlands.- Total
bacon imports for the year ended September 50, however, were the largest
since 1925-26 and 54.5 per cen.t larger than in 1928-29.

The recent stronger ten.oency in the German lard market accompanying
reduced importss kept the Eat.urg lard market steady during October at 'the
Septe -oer average level of ,,1,3.88 per 100 pounds, an advance of about 53
ce.ts over the October 1929 level. Vegetable oils continue to offer keen
competition to la-d ii- the C-erm.an market. Latest quotations available
indicate .~z. aver:..;,e vwholesale price. for coconut oil in'Hamburg about 60 per
ce-nt under that of refined lard. The reduced lard imports in evidence since
last 'May, largely fro-. the United. States, were carried into September when
less than 1,00000,00 pounds were imported. Imports during that month were
unusually low for Septer.ber a.nd the sji.allest since Decer.ber 1927. In spite
of the su.ller i:.Lports of recent months, however, total figures for the
year ended Sept-ciber 30, 1930, were slightly larger tha.n were imports for
the preceding yea-r. Le.rd i .ports fo- the past three seasons, however, have
been below those of the thruc preceding years, and about the same as in the
pre-war period.

Other countries

September was .. dull month i:- the Belgian market for American pork
products, according to Consul W. S. rLeiILock at Antwerp. There were very
few new coHi'.iit:.'.nts. Holders of lard profited by the advance in price over
the August levels, and there was some increase.in the receipts of Dutch
pure lard. In cured pork, all imports cr- discouraged by good supplies -of
favorably priced Belgian products. In Argentina, hog'niumbers as of Jul"y 1,
1930, are placed at 5,764,000 against 1,437,000 in 1922 and 2,901,000 in
1914. Th'e -ar'-est increase was in the province of Buenos Aires. Pork
production in frcozing aCnd chilling, plants were 12 per cent below a year
ago during the first eight r.onths of 1930, but 28 per cent larger than in
1928. Since 1926 Argentina has been a contributor to the British fresh and
frozen pork rmrket. Londo. Central 'arkct returns iz-dicate that total
receipts of such pork fro:, outside G'-rat Britain aLnd I-cland have been
below a year ago during ;.:ost of 1930. The principal overseas sources are
eNo Zoaland and the United States,


I ,










HP-12 -7-
HOGS .CD PORK FRODUCTS: Irndices of foreign supplies a;id demand


Country
and itemr


: O_____ctobe" Sente:ilber_


: nit : 1909-10 : 1924-.'5 :
:nit
: :tol l3- 14:tol S-39: 1926-2


17-7-28: 1928-2': 152-30


: averae : &avLr.e
UNITED KINGDOi: : :
Production -
-I
Fat pigs, c.r-:
tain n,.r.:ets :1000's: 593 : 504
Supplies,
domestic fish 1000 :
pork, Londo:i :pounds: 54,639
Imp Iorts -
Bacon -
Denmark .... : 246,250 : 502,406
Iris' .State: : : 54,47
United States: : .134,037 : 104,767
Ceanada ......: 42,94E : 76,357
Others ......: 43,800 : 104,3-1
Total ......: : 517,035 : 902,218
Ham, total .... : 96,675 : 127,520
Lard, total.... : 210,237 : 267,075
DEI.I ALRK:
Exports :
Bacon ........: : : 500,948
CANADA:
Slaughter -
Hogs,i.nsoected:100o's: 1,687 2,563

Production -
Hog receipts :
14 cities ...: : 3,215
Hog slaughter
36 centers...: : 4,430 : 4,009
Imnorts : 1000
Bacon, total..:po'.nds: 2,728 : 16,898
Lard, tota.l..: : 198,843 : 217,286
UNIITED STiT.S:
Slaughter -
Hogs,ins ected:1000 s: 31,544 : 46,063
Exports -
Bacon : 1000 :
United :Kin;d.omn-:3ou;ds 130,737 : 64,747
German, .....: 1,497 : 11,278
Cuba ........ 8,13 : 20,385
Tot-l ...... 181,314 : 140,742
Hams,shoulders
United :in-dom: : 140,392 : 140,761
Total ......: : 163,966 : 167,766


Lard :
United Kingdom:
Germany ......:
Cuba .........
. Netherlands...


169,138
137,720
38,426
'Cr Anna


225,342
192,3041
80,361
Ain Aon


0 ,2 E8:


530,234:
45,535:
83,790:
64,792:
206.,63:
931, 011:
106, 633:
255,633:


5536,163:


2,56:




3,332:

3,954:

14,849:
226,42?:


43,0?0:


51,753:
7,763:
21,834:
112,393:

113,273:
154,330:

208,338:
183,136:
79,327:
41.90'1:


6A:

9,996:



60'5, 792:
58,658:
64,558:
39 ,7'1:
224,790:
997, 179:
107,289:
277,756:


600, 98:


2,587:



4,180:

5,183:

8,289:
191,713:


A47, 370


45,007.:
6,740:
18,634:
11 615:

105,949:
128,156:

231,084:
164,022:
62,079:
33,060:


3300 43 59:4317


080:


74,744:


552,272:
61,670:
66,135:
23,234:
229,782:
933,093:
110,257:
277,688:


546,531:


2,361:



3,465:

4,563:

10,932:
201,015:


48,957:


47,484:
3,043:
15,720:
128,357:

95,936:
120,531:

234,7.7:
201,672:
82,220:
43,579:


581


61,109


621,112
43,702
60,383
15,136
227,102
97, 435
11, 558
275, 84?


314,429


2,153




3,379

4,3?6

13,904
203,177


45, 42


48,191
6,120
15,9S7
105,092

100,723
123,107

235,052
133,738
75,532
43,174


___


~u LVV ~V -~C~ J
V L V 1V J


-
. .
-
.






HP-12 8 1111111111111111 11111111111ii
3 1262 O0

HOGS AND PORK PRODUCTS: Foreign.end domestic average prices per
pounds for the month indicated, and stocks at tho.ond'of eachnm


Item


: September
: 1909-1913
:average


: Do


Prices -
Hogs, Chicago,
basis packers' :
and shippers'
quotations .....:
Corn, Chicago,
lNo. 5 yellow ...:


Hogs, heavy,
Berlin, live
weight .........:
Potatoes, Breslau :
feeding .........:
Barley, Leipzig ..
Lard -
Chicago ........:
Liverpool ......:
Hamburg .......:
Cured pork -
Liverpool -
Americrn short
cut green hums:
Americon green
bellies ......
Dunish Wiltshir-e
sides ........:
Canadian green
sides ........


Septcmb;r
1925-1929
average


. : 1,000
S pounds


Stocks -
Liverpool -
Hems, bacon and
shoulders .....:
La.rd, r-fined ..:
United Strtes -
Processed pork d/
Lard in cold
storage .......:

/ One week only. b/
d Dry sult cur.d and
of cure, rnd frozoi


1,000
pounds



: 4,970
9,566

:541,216

: 115,188


Thrcj-yeu:r average
in proqcss of cure;


:September:
: 1929 :


Do


liars : Dollars





8.15 : 11.36

1.23 : 1.67


12.37 : 17.42

.33 : .46
1.73 : 2.16

11.24 : 15.95
12.50 : 15.59
31.14 : 16.33



14.50 : 26.03

S 23.17

16.70 : 26.08

15.69 :b/ 24.70


1,00.(
: pound



: 5,6
11,0(

:600,4V

: 153,69

only.


August
1930


'llars :





9.89 :

1.80


18.60

.36 :
2.00 :

13.81 :
13.38 :
13.97



23.81

18.83 :

24.33 :

24.01 :


: 1,000 .: 1'00
Is : pounds : po
: :,


2 : 4,738 : ,
63 : 3,158 :

?8 : 550,959 : 447,

)0 : 88,868: 59.

c7 Two wooks only.


pickled, cured, and in proC


----------- 0------------





..... ....... ... ,, .:= .. ....... .... *,:,: ,. rh


- ---'------ -- --C


c/


Dollars : I





9.58:

1.77


14.05

.60
2.02

12.44
S12.61:
12.72



22.27

18.36-

a 20.43-

20.05




Full Text


C-63 -1 -

Italy

Conditions in the Itt.li: n cotton textile industry e.ro unchnnred i and
relatively uns: tisf,ctory. ;:ow business of hoth spirning ,nd weav!ng mills
is reported rather poor, .nd unfilled o.'ders considerably ':elow last yo.0r,
while stocks of yarn Ps well tis cotton -,oods are rintericlly al.ove the sPme
time a year ego. Snius have recently continued below' current levels of
production with stocks sh.o-.ins t nden:,c to risu further. The activity
of spinning and weaving, mills is no.-. substantially bclor lrst. y.itr.

Despite the unfavorublu busin :ss outlook, the der1rn.. by Itili n
spinners 't thu bueinninC of S..'ptor:b..r for spot ,nd c.i.f. cotton wes of
fair volume, and some largo purclhsoe of Indian cotton were -m.da toward the
middle of thu nonth. Other gro.-ths ;pp.-rod n.gluctcd.

'ill consumption of ru: cotton in ItLlv ,l.o:.7s a decline for 192Q-30
of about 5 per c:nt, with tho dcclin: in cons'u' tion of -An.riccn cotton more
than Lccounting for the d.cr:aLse in totLl nill cons'umption.

Table 17.-C.otton: Till cois'mnption of .'.mricsn ,nd all growths
in Itt.ly, 1920-21 to 1929-30

Season bcgininiif uG. _1 : J;ncrica.n : .11 rll owths
:1,000 b_-.ls of 5CC lbs. : 0 (0 bcls of 500 Ils.

1920-21 .............. : 562 763
1921-22 ................: 73 : 7C9
1922-23 ............... : 6C1 :65
1923-24 ...............: 547 906
1924-25 .............: u39 963
1925-26 ..............: 712 : 1,004
1926-27 ................: .80 913
1927-28 ............. : 707 : 935
1928-29 ............: 745 1,017
1929-30 ......... ...... : 64 :967

Figures of Internutional Fade-ratior. of Liustcr Cotton Spinn.rs in running
balas converted to bilcs of :,pproximin'tly 5CO pounds gross.


Belgium

While : tot5.l mill consumption of cotton in rcgiun in 1929-30 remained
about level 'ith the p-ovious cotton yr r, consumption of ..mnric:n cotton
foll off about 20 per cent.






C-63 _12 -

United States at th:. end of Septehbor this ycar wore the largest on tocord.

Cotton textile activity in the United States during September in-

creased considerably, with mill consumption.42,000 baljs above August com-

pared with a 10-yoar overage increase of about 2,000 bales. Thj weekly

average production of standard cotton cloth in the United States increased

probably less than seasonal, but sales, shipments and unfilled orders in-

"creased materially, resulting in a further reduction in stocks.

The depression in the cotton.textile industry which is more or less

general throughout foreign countries, continued through August and into Sep-

tember. Conditions in Poland, however, were improved with the rate of

cotton consumption in September about 25 per cent higher than two months

earlier. France reported a revival of. demand front the French colonies.

Conditions in the Orient were reported somewhat improved toward the end of

September which should improve the outlook for export trEde of Great Britain

and Japan. Smaller stocks of yarn and cloth in some countries is another

favorable factor.

The 1930 cro) in the United States was forecast at 14,486,000 bales

in October, compared with 14,340,000 bales in September and a production of

14,828,000 bales last year. During the first two weeks in October the

weather hrs been generally favorable for picking and ginning in the Eastern

Bolt while in the Mississippi Valley .nd the section west of the Mississippi

considerable rain and cloudy weather was reported with some co-plaint of

damagos. Innings to October 1 wore considerably above last ycr.r r-nd the

year before. Cotton acreo,ge in countries reporting to drte totals 0.8 per0

cent below last yonr.


-n ;-y--




C-o63 -C-

'.I/HLPAS, present lo., prices of cotton are deplorable; and arc caucing
drastic reductions in the incomes of Aliba.n farr.ers, and are lowering the
standards of living of cotton gro..ers, thereby injuring the agriculture of
the South and business and industry of the whole nation; and

'IHERAS, the present situation requires that the greatest possible
relief be obtained in the s ,ortest possible tir:e; and thtit methods be devel-
oped and put into op, ration to prevent a recurrence uf Luch situations; and

'.HLRLAS, present low prices are largely due to a ,orld--,ide business
depression -.:hich lo'..'rod tuc demand for American cotton, causing consuU.ption
in this country to fall off a nilliun balos in thr pj-st season, .aid the world d
total consumption of American cotton to fall to 13,uOO,j00 bales against
15,LO0,OO0 bales the previous season and a production of 14,bu0,000 bales
last year, lu-iving the carry-over in this country the largest at the begin-
ning of the present season that it his boon sinde; 121, and increasing the
world total carry-over of American cotton by approximately 1,500,000 bales
which carry-over has boon a burden on the rm arkot; and

'.I{LRLAS, present cotton prices are far below average cost of produc-
tion; THEREFORE BE 1'2 RLSOLVLTD:

1. That as an imr.ediate st p farr.:< rs be urged to market their cotton
through the cooperative association .;ihereby they can obtain Y0 per
cent of the market price no-; and profit from any subsequent rises in
the future; and
2. That cotton production be reduced until consumption increases and
stocks are reduced so that cotton can be sold at a profit; and
3. That the reduction in total production be accomplished by the ro-
adjustm nt of acreages so that some lands previously devoted to cotton
be used for other purposes; and
4. That advantage be taken of the fact that r..any crops other than
cotton can be grown at a profit and will yield a ctish incomi ; and
5. That in this proulcM of ruadjuista nt of acrt:L c owe realize that
the pcrctntag( of shifting of cotton acrcL-,( to other crops will vary
..ith tni individual ,Inu th!? section but that the nct result should be
that the (ntir- bolt s'i-ll not plant mor- than forty million acreageo.
Any acr ag-. aoove forty r..illion acrcs planted in 1931 will be dangerous
and a .-:unac( to our econTomic '.i:lfar .
6. That as 1!ogL, cattle, d.iiry products, poultry and Lggs can be pro-
duced at a profit by nany far::ors a.nd readily rariCttcd for cash,
these r enterprises be. e -:c-'ur tg d; and
7. That more feed be produced at }ho:.:c since large; amounts arc purchased
*which can be produced ;.orc cheaply by thi. individual far::er; and
8. That Alabani. far:-.(.rs grow;. rt'cre of their odwn food, th.ere money and improving their st'::dard of living, and tl.-it irmediate steps
be taken to relieve tim present emergency by planting winter let,unes,
fall grains, and fall garden crops; and
9. That land whichc h is too poor, or too rough, or is in areas too small
for profitable production of cultivated cross :ad p-1stures be allowed
to gro.; up to forest, Lthereby removing "r.arginal lands" from the pro-
duction of crops and returning it to the timber area, thus increasing
the production of tir.ber of which h there is a steadily diminisihing





C-63 -1
The following Table gives the cotton consumption figures of the
German cotton industry in 1929-30 as shown in data published by the
Internationcal Federation of ae.sters Cotton Slinners' and lianufacturers'
Ascoci tic.ns, (converted to 3_ss of 500 pounds tross).

Table 13 Cotton: ;ill consu:i-tion of American a;d all growths
in Germeany, 1920-21 to 1929-30

Season beginnin Laerican All growths

:1,OC0 bales of 500 lbs. :1,000 bales of 500 lbs.
1920-21 ........... : 644 860
1921-22 ........... : 11 1,162
1922-23 ........... : 34 1,030
1923-24 ........... : 696. : 946
1924-25 ........... : 916 : 1,189
1925-26 ........... : S4 : 1,125
1926-27 ........... :1,214 : 1,468
1927-28 ........... : 1,276 :1,564
1928-29 .......... : 1,024 : 1,353
1929-30 ........... : 923 1,292


Figures of International Federation of .:aster Cotton Spinners in running
bales converted to bales of approximately 500 pounds gross.
:Te decline in consumption of Amierican cotton was about twice as
large as t-e decline in total mill consumption, in other words, consump-
tion of Indian, EIyptian and exotic cotton showed a substantial increase.
The further neglect of American cotton because of price relationships
early in the sec.son favoring other growths is also evident in official
Germani import statistics for the first half of 1930 which show imports of
.aericzn cotton amountin.c to 67 per cent of the total imports compared
with 75 .er ce.:t during the first half of 1920; 20 per cent for Indian
cotton comparred with 17 per cent, and 8 per cent for Egyptian cotton compared
with 4 per cent during the first half of 1929.
Austria and Czechoslovakia
Reports from Austria and Czechoslovakia are still very pessimistic
and indicate' th:at no improvement has taken place in the last half of AuguSst
and t-ie first three weeks in September. The National Bank of Pragua in its
last report states that the situation of tie textile mills continues one of
the most critical problems of the general economic depression. Private
reports fro. Austria also indicate very unsatisfactory new business as well
as r. low levEl in mill activity, with weavers reporting that business was
impaired by the decline on the raw cotton ..arket. As both the industry and
the trE.de :--ve c.rely covered immediate requirements during the past few
months, -io'-ever, stocks of ;-ara- and goods in both Austria and Czechoslovakia
in the hands of the trade and industry are small. An indication of export
market developments is well shown by the fact that Austrian cotton yarn
exports during the first half of 1930 were 35 per cent less than during the
first half of 1929, with Rumania and Yugoslavia figuring as the most important
customers at present. Exports during July, however, improved considerably.
Yarn exports amounted to 3,909,000 pounds, an increase of 439,000 pounds
over June and 97,000 pounds over July 1929. Total exports for the 1929-30
season amounted to 50.6 million pounds compared with 47.8 million pounds
the previous season. Exports of cotton fabrics during July amounted to
5,569,000 pounds compared with 4,067,000 pounds during June and 6,362,000
pounds during July last year. Cotton fabric exports for the 1929-30 season
totaled 78.9 n.illion pounds against 85.5 million pounds for the season 1928-








0-63 -3-

Stoc :s :.u. r.'ovemenr ts

World visiblc -u.:Av"

T'.e tot.l '.vsible sv..pl.. on 0. toucr 10 a.-cording to the Jo' m u rcir1
and Finaicil Chronicle, almontcd to 7.2 million ru..nil. b-:.cs, oi v-.ic.-
5.4 million b..les or 75.2 per cc.t of this total w:s A-,ericanj cotton.
This co. -r-cs wit:. the tct-.l of r.1 -ir.ds of 5.3 L.illion bales on t..e
corresxou) i:: .,te i.; at .-: r :..l' t.'e tot.:. visible of A.rri aon cotton o:
3.6 million or 87.4 jer cent. I. ot. ?r words A,lerican cotton thiis
year cons tituted a 7.8 :.,er cent gr: t-:r proportion of t..a world Lot-l
than at t:e s;,:e j ;i..! la.t -'epr.

The gr.-.test increase i. t.h- su :. l of kAeric2i cotton wV.s in -ort
stocks in t.ce United States. T.;ese stocks consAituted 42.4 ,er cent of
the totrl th'.is e-c.r con ,.crcd wit'- 30.2 .-'er cent lait :e.ar. The re.-test
chmanse in t.ie visible asuply of foreign cotton was in -.-: stocks in
Ale::candri-., :g'nt and Bomr:', I.ndia, t:-e stocks in Ale::azdria being con-
sidera.bly larger and stoc::s inr. Bci-o co-nsidcrabllr smaller this ear as
compared "wit-: last year.

Table 4. World visible su.;l.)-- of cotton: nerica: a.nd other
growths on October 10, 1223 2:-d '190

~___.~__ ____________ _.^ericpa_______

1'29 1930
Location of stocks : :p. rce. t-: :- cent-
T.tal :rgeo of Total :,;e of
.___toto : : total
S ~:nin., : : R .i. -. :
: .-.les :-er cent: bales : :r ce::t
rer..t Bnritain ................... : 234, 0 : -.4 24, : 3.4
Continental...................... .: 317,030 : 6.0 :44-,0 : .2
Af'lo--t for :.rope................ : 532,0 0 : 10.1 : 5'6,00. : 7.9
Fort stocks.................... :1,59 ,3 4 : 30.2 :3,052,226 : 2.-
Interior su-c.'s ............... : 1, 55 16. :1, 098,.6 : l .7
Exports tod,:y. (Amn. 1)........ : :--- ---_ 400
Tott ierican :c,1,,1,742 : .57.4 :-,409,491 : 5.2
iLest Indian, Brazilicn, etc.

Great Britain .................. : 37,00 : .3 : 465,000 5.
Continent.: ..................... : 90,0' : 1.7 : 116,0 0 : 1.
Indi -i L"j O:.t -or 2-ruo e........ : 10-, : 2.0 : 72, 3 :) 1.0
EGptic.., 3!rE:lian,etc, flot. : 1-9,Oj. : 2.8 : 108,03 : 1.5
Ale::;idrir., _-p pt............. : 240,0., : 4.5 : 51,J 3 : 7.2
Bornb-, L:i-ia ............. ..... : 70 ,0'. 1.. : 514 0 : 7.1
Tot .1 :s; -.ia.,i.rzili.n etc.:1,725,000 : 32.6 :,?92,0.0 : 24.8
Total vsisibl su'. 5 ........... : 5,238,742 : 100.0 :7,201,41 100.0
Compiled -.rc,'. tie Oo2..--.ercia.l aind. financial Chronicle.





C-63 12 -


Continental E.urope 1/


The long prevailing depression in .te continental cotton textile
industry persisted in September over the Continent as a whole, end offered
little promise of early gener 1 improvement even though the situation was
not without a few brighter spots. It was evident th. t spinners were generally
more ready to buy raw material .t current prices, and stocks of goods were
kn6wn to be much reduced, but the persistence of slow distributor and con-
sumer demand, und prospects that business conditions would remain poor this
winter, were causing continued uncertainty and reluctance all along the line.

The volume of now business booked by spinning and weaving establish-
ments into September was generally restricted for the Continent as a whole,
although FrLnce reported a good flow of business and a rising tendency from
previous lo' levels develoDed in Poland. Germany, Czechoslovakia and
Austria continued to be the center of the depression, but sales conditions
in Italy woeru also very difficult with export business declining and domestic
market prospects impaired by increasing business depression. Following the
resumption of work in the textile strike centers in Franco, a good volume
of both yarn and cloth sales i.s reported, increasing cloth trade with the
colonial murkjts being especially noted.

Mill activity for Europe as a \.hole shored little change from pre-
vious levels, during August and the first half of September, notwithstanding
some seasonal inprovemcnt in ccrt, in places. Generally speaking, activity
remained much curtailed in Central a.nd Southern Europe, despite small
seasonal pick-ups, but continued relatively high in France. The July
figures recently available for Germany show an upturn af.tqr a considerable
decline in previous months.

Continental spinner d-mmnd for rr.w cotton in r.Qc.Qnt weekss offers
one of the few encouragements to be found in a situation of genorcl .do-
pression. In spit- of relatively unsatisfoatory tendencies in mill activity.
c.ad sales of mill output,- the inquiry' for ran- mrtcrir.l b.y spinners .racontly
has been good in most of -the import-nt c.ontincnt:-l spinning centers,. but -
particul-rly G-rmrny 'nd France. Spinners rppcer to reg.rd. proasnt lovols
of rnrv cotton .:s .n attractive opportunity to buy c.nd tho.r. is son.m ten-
dency evident to cover future requirements, even for the more dist-nt
months of the ncw cotton ye.r, though the volume of purchases r.s yet has
not .ssuncd the proportions of 1926. Cotton morchrnts hnve also made a
feir volume of c.i.f. import purchases in recent rooks, doubtless a direct
result of the f.ct th:-t th- tr de h:s boon better satisfied with raw cotton

j/ Based on report drted September 22, 1930 from Agricultural Conmissioner
L. V. Steoro rt Perlin, supplemented by cr.ble October 2.






... .. ...










C-63 l-


16. T.: t ,r... ru, b:-r.:-cr-, : '. *'reU.:-.nts in ot -r c t'-to, pro'.u.ci.g.
St.tes bL. :v.:'. stei. to c o: t a-:.- ** '.iU:c .ractic-1 ;.1.i.. 1.iion f- t'..r.c
pri.ci .~a. in. ori.r t:.t tIc ecoi.o::'.c ..:. social strict-r::-: of- t.e
antirc so.t.: .. c be placc. on a :o-.ui. ,.d safe basis. All could
reco-nI"ze :._1 .."cd t~.:- f.2ct t:-ft t'.c cotton acrcT,,; a.j-lutaent ru-,l-r
present co..dltioi.ns should be ric:. greater thlin u-;d.-. nor;i.? co:.:iitio3.s.
In doi.Tcg -..is fa-."ers will a 'pl;- a principle of successful 1.L:i;ufactu:.--rs,
nc;-el:., t-;. r.': action of .'rol -ucioz to t:c cer; -'.i of corns' '~ ,tion1.
Unless ,.rlT.zr : io- tiis t -c.- '.ill enlar:c.u t-.. r own' bj.rier. cl ? pi osto:.."
corrt.:tisin cf t.:c present distress situation.

Ar.ie.id',;c .t to the e".'ect that n;' acraj.-c above 40,Oi',;C)C -.res
for the cotto: belt 3.s a wl-ol wo:r-., be d:.- -, ero'.s.


------0-----




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. A .


0-63 -6-

Exports of Ai,.ericrn cotton:

ErZorts of domestic cotton during September, 1930 amounted to
903,000 rx.r.in br-.les compared with 723,000 bales during, Septenber last
year aL. 310,000 bales in Septe-.fer 1928 :-nd were the largest for the
month of Sept-:.iber since 1913, according to the Buraeau of the Census.
Exports during; Septeimber t.lis year to Frarnce, Germrny, and Japan were
above last year, whereas exports to the United Kinadom, Italy and other
uroneo n countries were below' Septer.nber last year. T:.ese large exports
indicate t-:-.t i.ost foreign spinners .re taking advant0,e of the present
low rrice of A-,ierici n cotton and are obtaining supplies for future need.

Table 5 Cotton: Exports from tae United States during September
by countries, 1925-1930


er United: nce Ita Oter : :All otzer Total
Yet-r r z: 1i c Gee ta, ..an. J-- To tal
:TKi ngd- .arope : countries :
1,000 00 1,000 1,000 ,0 1,000 1,000 1 : 1,000
r.iing:~runing: rur.ning -: running: r.naing: running: running : running
:bDles miles : bales : bales : bales : bales ales bales

1925 : 183 64 : 47 :248: 128 65: 15 750
1926 : 181 69 : 50 266 :126 : 76: 21 :789
1927 : 64 : 79: 27 : 255 105: 77: 13 :620
1928 : 90 : 84: 68 : 249 :150 140: 29 :810
1929 : 139 : 3 : 84 : 204: 92: 87: 27 : 726
1930 : 125 i53 48 316 87 : 133 41 903

Compiled ..ro..i reports of the Bireau of the Census.

Imports of foreign cotton

Imports, of foreign cotton during Septea.,ber aiountted to about 3,000
balcs i 500 pounds gross, compared with_ imports during Septefmber 1929
of about 24,000 bales, 19,000 biles in 1928 and 28,000 bales in 1927,
according. ; to th-e Bureau of t-e Census. The greatest decrease in imports
this :rear was in 3-2-ptian cotton. While 16,000 boles were imported during
September last :-er there were no imports from Egypt during September
this :c.rr. This decline in imports from &rpt is of course due to the
tariff on lo:1;: staple cotton.

Into si :.t, -Jort recei:-ts, mill talhiais, etc

T'-e into sight movei.ent during Se.tember, 1930 eCno-unted to 2.4
million rt..Aing bales and with the e:.ception of l.st -yerx was the largest
for ti, mnonto since before 1920, according to the iew Orleans Cotton
Exchange. T.le total into sight movement during August and Se)tenber this
year ljno-.nted to 3,274,000 bales comroared with 3,253,000 bales during










C-63 -8-

Textile situation

United States

Dor.iestic consumption of row cotton during September showed a
significant increase as compared with the low rate of activity
during Aujast. Consumption of raw cotton during September amounted
to 394,000 running bales compared with 352,000 bales during August
and 379,000 bales during July according to the Bureau of the Census.
This increase in consumption during September over August was
more than th-e average annual increase. During the 10-year period
1920-21 to 1929-30 the average anual increase of September over
August a;nmanted to abcut 2,000 bales. This compares with the in-
crease this ear of 42,000 bales. ConsumLption during- August and
September l.st ;.-ear amounted to 559,000 bales ind 546,000 bales respective-
ly. or montrilr consumption of raw cotton ir. the United States see
accoir.,nmc-ing Tables.

LTe weekly: average production of standard cotton cloth in
September amounted to 45.6 million yards which was an increase of 1.8
million ards over the weekly average during August, according to tie
Association of Cotton Textile :erchants of ITc-w York. During the two
previous -'ears for which comparable records are available the weekly
average increase in production of cotton cloth during September over
August was about 6.5 million -ards. This indicates that the increas-
ed production during September was probably less than- seasonal. This
curtailed production together with a weekly average increase of 25.9
million -; rds in scles Mnd 11.9 million yards in shipments resulted
in a ratio of sales to production during_ September of 160.1 per cent
and a ratio of shipments to production of 127.7 per cent. The ratio
of sales to production is the largest since October 1928. The ratio
of shipments to production is the l,.rcest on record of comparable data
extending, back as far as October 1927. Stocrks of standard cotton
cloth decreased more than 50.0 million yards or 11.4 per cent during
September. This decrease in stocks is the.largest for anz month on
record. Unfilled orders increased 26.1 per cent during September and.
were the largest since the end of April.
















"I






C-63


Prices

Spot

Prices of middling 7/8 inch cotton in the ten mnrk-ets during, the Itlst
half of Septenboir and the first h:~lf of October declined.boout 0,-'8 cents per
pound. For the week ended September 20, the prices in the ten mrirkts av',r-
aged 10.23 cents per pound. For the week ended October 18 prices averaged
9.55 cents per pound. In Mew Orleans,:niddling 7/8 inch:averaged 10.C8 cents
per pound durinC the week ended Se)terber 20. and 10.15 cents per pound for the
week ended October 18. The decline in TIew York prices was about the sane
with an average of 10.94 cents and 10.30 cents respectively for these tvr
weeks.

In Liverpool, prices of Lll of the more important growths of cotton
declined. The greatest decline occurred in Eg;yptiznn, both Sckelleridis and
Uppers, and the smallest decline -.'as in Peruvian. The declines from t
September 19 to October 17 uoer as follows: Egyptian Sakcllaridis, 1.93 cents
per pound; EGyptinn Uppers, 3.2e cents; Americ-.n riddling 1.07 cents; Indian
Oomra No. 1, 0.41 conts; Frazilicn Ceara, 0.57 cents; and Peruvi:an smooth,
0.06 cents.

Competition of non-American growths 1/ The competitive position of
American cotton as agLinst Indirn and Egyptian in continental rncrkets during
September improved considerably over August. Indir.n cotton has been reported
as favor-d in purchases h- Italian spinners recently, but this has boen in
thu face of a distinct risc in th3 price of Indian in relation to AmJi,,ricn
since the beginning of i.ugust. -.s -. result of the fall in thc imrictn mc.rkot
and, thor"-fork, doos not so,;m significant. Th% r:lativo prico of Tndi:n in
comparison with 'mcricvn n: s higher -in ScptDnmb'r thrn it .:s boon since
Fobrurary, 1929. ''gypti n Uppers havi. also b .comj rolativoly donr.r ns a
result of th.2 doclino in .imcric n cotton, -:nd in Scptombr r 'ere r-lJtively
the highest since Jun., 1928.
1T Bcsod on report d-t,-d S'ptc.mb.-r 22, 1930 from .'.gricultur'1 Comnissionor
L. V. Stc-r. rt Burlin, su-p.iln~mntcd by cablo Octob r 2.

Tnble 1.-Br.nen prices of Indi.n cotton in porcentrg of .'.mric n 1/
Season : Nov. D'c.c : Jn. : F t : I~. :r.: '.pr.: T. y :Juno :July :.'.ug. :S-.pt.
: .r : P r : Pr : Pr : Per *: Per r: Per : Per :Per :Per
: cont: c.nt: c.nt: c .nt: cent: c.nt: coat: cOnt: c nt: .nt:c nt

1925-26 : 89 : 84 : 80 : 74 : 77 : 78 : 75 : 81 : 82 : 92 : 90
1926-27 : 10E : 108: A6 : 92 91 8: : 87: 0 :87 : 84 : 73
1927-28 : 82 : 84: : 87 : 87: 82 : 81: 82: 78 : 80: 77
1926-29 : 79: 78: 7 : 7 : '74: 73 : 72: 70: 68 :72 : 7
1929-30 : 73 : 72 : 72 : 70 : 72 : 68 ; 67 : 70 : 64 : 64 : 76

1/ Average of -remen quotations for line rgd. Scindh; fine mgd. Oomra Po. 2,
f. st., Fine mgd. Eroech, lmnerican Seed !1o. 1 (Punjab).


- 3 -







0-63


these two ..on .ts le,.: .'car. This w,'s a.- inc. acci of 21 ,000 bo'i s .u.r-
ing t.io, first two :1ont.is t:is season over 1, st sc.so.n and conioares
with aI inc-Ocase i-n .i,,:-in s for t.',c:e two mno-nts of aboo'.1 402,000 j'.les
over last 'ear. -iis sceens to i;.dicatc t.at ticre is considerable
holding on the p ,. t of tChe iarn.ers t. is :ce.r. :ort rece.its duri-;
September rAo',o.tG. to 1.7 million b:les coin ,:rcd wit-I 1.3 mill-on b-.L-s
in Se.jte fiber 19.'" atd were tihe 1.rgce- for t6.e month of Se.)tc..'-ibr cince
prior to 1920. rT'e overland irovem-,et l;ad k Aneric.; i.dl.1 t:in_,s in
September this year were below t.nse for September 1920. Stocks at
ports and i-.terior towns art the end of Se)tea.iber were estimated by t-.e
New Orlean.s -Z:c-iaSe to be about 3.8 million bales or about 1.7 million
bales more t.:cn at the end of Se-.,te..ber last -Lear, and were th-e 1:rest
on record for this time of year.

Table 6 Cotton: '.ove;nc.t nln stocks in t'ie Unite2l States
for Se-:te:::ber, 1920-1930


In si:l:t


Ru-ni;ng
-cles

771,590
1,145,158
1,359,011
1,457,208
1,845,Oc9
2,332,263
2,125,08
1,9%3,710
2,026,530
2,130,363
2,40S,730


:Port receipts
*~ *


Running
tales

443,149
667,845
803,185
929,134
1,166,007
1,373,757
1,510,337
1,416,582
1,309,675
1,339,682
1,372,445


: :Stocks at ports
AO erican -w
Overland : Anerca interior towns
: : at e-.d or.
.c^ .-^t


Running
boles

17,324
106,343
40,- 2
29,402
36,247
54,507
67,795
42,800
29,831
94,133
43,881


RSJnZ i ng
b le3

254,460
447 ,1C
50 3, 854
-42,511
453, 37
473,,861
561,683
475,481
437,922
529,098
383,253


Rl..ing
br. es


1,607,502
2,331,359
1,260, -93
1,052,65s
1,164,333
1,765,945
1,779,951
1,289,004
1,782,765
2,148,508
3,799,382


Compiled from reports of the ITew Orleans Cotton E:xc.,~:e.


Year:
.*


1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930


~~






C-63 24 -


Production, createe and crop condition reports


United States

Production estimate The Crop Reporting Board of the Bureau of Agri-
cultural Economics from the conditions of the cotton crop on October 1 fore-
cast the 193C crop at 14,486,000 bales of 500 pounds gross. This was
146,000 bales or 1 per cent above the forecast of a nonth earlier and
approximately 342,0CO bales below production last yeur. -Crop prospects dur-
ing September declined in Texas, Mississippi, Tennesseb c-nd Virginia, but
this was mo e than offset by increases in other States, particularly Georgia,
North Carolina and ',labar.. (See accompanying Table).


Table 22.- 1930 United States cotton crop: Indicated production
by condition on October 1 with comparisons l/

: : 1930 crop 1930 crop
State 1929 crop 2/ indicrtcd by indicated by
: :conditions Sept. 1:conditions Oct. 1
: 1,CO bales : 100 b 1,000 bales

Va. ..............: 48 : 40 : 34
IN. C. .. ......... : 747 819 870
S. C. ...........: 830 :997 : 1,010
Ga. ..............: 1,343 1,500 1,580
Flu. .............: 29 : 36 : 44

'o. .............. : 220 : 148 : 1 0
Term. ............: 515 : 437 420
Ala. .............: 1,342 : 1,358 : 1,400
Miss. ... ......: 1,915 1,685 1,660
La. ..............: 809 649 665
Tex. ............: 3,940 : 4,321 : 4,275

Okla. ............: 1,143 925 925
Ark. ............: 1,435 940 :960
N. IY' ex. ..........: 90 :97 : 100
Ariz............. : 153 159 :165
Calif. ...........: 260 224 224
Others ...........: 9 5 : 4

U. S. ............: 14,828 : 14,340 14,486

1/ In bales of 500 pounds gross weight.
2/ allowances .,..de for cross Stete ginnings.











Table 19.-Cotton: I.'ill consumption of nAmeric:n and r.11 growths
in Poland, 1920-21 to 1929-30

Season bee;iinnini Aun-. 1 _: hcricn :___ All lrowt__hs-
: 1,_CCO bales oi' 50C lbs. 1:,OC0 bales of 500 ilb:.

1920-21 ................: 7 : 129
1921-22 ....... ......: 170 210
1922-3 ................: 17 21'J
195.-24 ................: 12 :P 173
1224-Z5 ................ : 1 4 : 203
1925-26 ................: 158 186
1926-27 ................: 271 317
1927-28 ................: 318 : 358
1928-. ................:. 210 : 254
1929-30 ...............: 154 222
Figures of Intei'nationAl erderation of ;:bster Cotton Spinners in runr.ing
bales converted to bLles of ?pproxii.ately 500 pounds gross.

Japan

Tie textile situation in Japan was soTr.vhat brighter toward the end
of September because of the decrease in stocks of yarn and cloth, according
to a report fror Cons..l Dic":over Lt Kobe. This report also states that
large orders for cloth have been .rceived froji China and Indie. Output of
yarn in ,ugust :mounted to only 72.4 trillion pounds, but it is feared that
production will incre:.se vitli the brighter prospects. This is the result of
this fear on the purt of the mill owners. They have agreed to a curtailment
of output of 7 per cc.nt front October 1 to the end of the year. Ilonincl cur-
tailment will then be 24 per cent, but actunl curtailment will be about 30
per cent and monthly production about 76.0 million pounds. As a result of
the decrease in stocks pricess of yarn have risen .nd. by this curtailment in
production the mills hope to m; int;iin these high prices. -Cloth production
in i.ugust amounted to C'5 million yP.rds vhich '"as a decrease from previous
months. Exports of cloth during --ugust increased.

The cable front the .'jerican Conul::r's Office st Kobe on October 22,
reported that the Jopnnese mill situation was less buoy,.nt during the pre-
vious 30 days. Dumand, ho."ovar, vrLs reported fairly steady due principally
to orders for !hor- co:sunption. The curt-.iled production reported in the
S:eptember cable has gol.u into off ct and the nills are apparently comfort-
ably fixed in this respect until the cn' of the cur:-nt calendar yorr.
Prices of )ioca goods Lnd ry;rn are nov -oororh .A t hirgh.r tnd -'ill yield a
fair margin of p-ofit to the .-ills. During the first of October prices of
spool yarns for irm'-diiut delivery :we-5 17 per cent high,-e than for i.pril
delivery duu to scarcity or stocks. The monthly production of ynrn vhich
is running belovw 0 million pounds is probLbly insufficient for Jcpanose
roquiroment. Y-:rn production during Si.-tomb.'r amounted to 78 million pounds.


J I










Consumption figures for Czechoslovakia and Austria reveal the un-
satisfactory conditions during the past cotton year very clearly, :'ith both
countrirn also turnintr fror Amrericr-n to Ilon- Arericin frowths.

T-ble 14.-Cotton: I.ill consuntion of Americzn ,rnd l11 rowths
in Czechoslovakia, 1920-21 to 1929-30

Season beginning u,. 1 : Aneric: n : All growths
: ,CO bsles of 500 Ibs.: 1,000 brlec of 500C lbs.

1920-21 ..................: 2C8 : 2.4
1921-22 ................. : 309 : 3r6
1922-23 ..................: 178 :244
1923-24 ............ ......: 267 : 329
1924-25 ................. : 342 : 467
1925-26 ................ : 353 : 466
1926-27 ..................: 408 : 500
1927-28 .................. 434 : 42
1928-29 .................. : 377 : 437
1929-30 ..................: 321 : 444
Figures of Intern':tioncl Federt tion of ic ster Cotton Spinners in running
bales converted to bules of -pproximately 500 pounds gross.

Table 1L.-Cotton: ':ill consumption of jAericn and all growths
in ..ustria, 1920-21 to 1929-30

Season beginning .ug. 1 ,meerican : ell growths
S1,000 bcles of 500 lbs.: 1 ,00 bEles of 500 lbs.

1920-21 ................: 54 85
1921-22 ................: 86 : 109
1922-23 ................: 61 : 8
1923-24 ................: 5 : 117
1924-25 ................ 85 :128
1925-26 ................: 104 : 151
1926-27 ................: 113 :144
1927-28 ................: 122 : 1 0
1928-29 ............... 103 : 143
1929-30 ...... .......... : 74 : 111
Figures of Internationu.l Fedcrction of IEster Cotton Spinne:.'s in running
bcles converted to bales of :.pproxim;.tely XCO pounds gross.

Hungary

Hung-.ry continues to report relatively frvorable-business conditions
for both spinning and renving mills, rs well &-s sctif- ctory levels of mill
activity.








C-63 25 -


;'atlter since uctobo: 1 ior the week ended October 7 the dry, cool
weather w-s unusu'.l1y 1' vc-.'0' le for pickiir- nrd iinninf' cotton over pr.:cti-
cally all sections i'.iat o: the T ississipli :ivur uccordinc to the ':.ether
Bureau. est of t: e Iissis.ippi iickin;-s i nd ginrings m.-do enood edvrnce
the first h1.l: of the wci.:, but raine stopped fielo Taork the letter purt,
and picking \::s at -a St:.aldstill in most pl. ces. The follorin7, reek condi-
tions we-o still fivorib le in the TW- stern belt, except for showers nerr its
close and iickin., n: de very good pror3ess. In the iississippi V': 1y :nd
to the vnstwu d ts.c:'d WLs so:,e coi:pl int of rr.ins :nd etncss beating do'n
cotton .-nd stiinin;- st:.plu.. Th.a western -; rt of th:. Cotton 'elt reJorted
considor.bl. r:.i::'. 11 nd cloudy -.:Cthc- thiie first purt of the ';cek whichh
retarded pickiniL .-nd _;inning.

GiLnniinr.s f.ror: .u- .t 1, to Septmbear 30 according g to reports of the
Bu-rcLu o- t:.e 7n::; is cinninCs froi ..UA t- 1 to ?eptoe.b-r 30 this ye: r wero
6,305,C00 running b L.-s co .-).rd with 5,' C3,0CCO bac.ls -innod during the
s-nc pu..7iod I s: y~..r ;:nC -,7C ,CO bclos during 192C. Frorm the accomnn ny-
inc Tabl: it n-y bu s.ni that vbile the sinnin-s in T'c::7s nd OklLhor. are
unusu: lly adv..ncud, in .lc.':umO nd lississippi the pur cent of tho crop
giinncd to Octob-.r 1 is loss t"..:n usu 1. Th: p-r cent of tho c-,op i nn d in
otLhr s actions is bout *.v-:'. for this date.


TablLe 23.-Cotton: ,3innir7 b:y It t.s fom August 1 to Octobor 1,
1 2E -19 30

.: ..uu'-'st 1 to Octobor 1 __
FTtr. t.

: i.nn b..1,s_ L_ 1/ ; Runnin b-1.:s 1/ : Running brl3s_1
:


.c. ..............
.;riz. ............. :
'rk. ..............:
Cclif. ..... ........
Fla. .............. .
Ga. ....... ....... ;
Lc. ............... :
I'iss. ............ :
Mo. ............... :
N. 173x ...........
N. C .. ........... .:
OklL. ............. :
S. C. ............. :
Tonn. ............. :
Tox. .. ...........
V 9.. ..... ........
Jll otl. *Strt s ..t:


335,969
27,185
361,775
LO, 280
1112265
3CS, "'c

560, 7,J

6,12:'.
60,08C,
2 B, 081
120,670
64,757
>,430,e8f;


United. St:t-s ....: 4,.C61,360
RIport of :'u -'.t of- t-h C--nsus.
1/ Counting round r s h. If b-.1s nd


: 578,128 5E8,561
18,439 ; 23,500
: 535,038 :264,814
: 13,524 : 15,473
: 24,868 : 9,.86
5: 78,23 : 841,96
: 542,428 : 399,-.5
: 05,3LI : 532,096
:23,073 : 2,f02
:8,31 : 16,050
:50,19 : 198,454
: 5,092 26,966
:162,599 : 377,688
: 71,476 87,492
2:,12,587 : 2,.84,806
: 3.-4 7,F 9
: 499 3:1,97

: 5,903,265 : 6,504,608


excluding lint rs.








0-63 COITEUITS P- e

1 World prospects . . -
2 Prices . . -
3 Stocks :ov e ts . .
4 Textile situation . . . -
5- Europe ... .. .. .. ... .. -2.
6 Ti e Orient . . . .21-23
7 :ro:.'c:tioni, r.cruc~. ciA.d crop con-dition reports ... .24-27
8 .iscell;_-Lous news. . . .27-31

T..L S
1 Bremen prices of Indian .cotton in percentvego of American. 3
2 Prices of j ypticn Uppers at Liverpool in -rrccntpae of
.u:.ericc'. at Bremen. .. . . "
3 "B..is" for :ew crop, points on Deceibcr, :Tow York delivery
October to Dece..,er, f.o.b. Brc aen. . -
4 '.Vrli visible supplJ of cotton: A-acrican &.dL other growths
on October 10, 19239 .; 1930. . .
5 Cotton: x-ports fro;;.- the lUite Stv.tcs d-:ri-ng Seotember
b-o countries, 1925-1530 . ... 6
6 Cotton: movement t and stocks in th.e United St tes for
September, 1920-1930. .. . 7
7 Cotton, all kinds: Cons-wum;tion in Unil&de Sc.tes 1912-13
to 1-"30-31 . . . .
8 Cotton, Am-erican: Cons-aotwio. in United St.tcs 1912-13
to 1930-31. . . ... .. ... 10
9 Cotton: ..ill cons:m.sctio.- of Aam.rican a-i' all gro:vt-s in
Great Britain, 1920-21 to 1-29-30 . .. 11
10 Cotton: 'ill coasumn-ction of American r~ca. all growtns on
:te Continent of Europe, 1926-27 to 1929-30 1
11 Coton: 3ontinentail inill cons -,iI.t ion of vcrlous growths of
cotton '::aressc. rs erccnt_.o of t:e total, 1926-27
to 1 29-30 . . .
12 Cotton: "ill cons-un]ption i. continental countries, 1927-28
to 1929-30 . . ... 1-
13 Cotton: : .il cons-.urtion of A-;n-ericr: %ln. all growths in
rrr- ', 120-21 to 19 .1-30. . . 1
14 Cotton: :: li cons;.Lztion ct A. fr'ica- -L ..IK 1 a.lrowt-s in
Czcc'-oslovaL:ia, 1920-21 tj 19?2-30 .. ....... 17
15 Cot"on-: "'.ill consul-tion of Amnerican ra2d ail gro;.'ths in
Alstria, 1120-21 to 1929-30. . . 17
16 Cotton-: :.,ill conswr; tion of .j.cric-1 i ." i11 growt'-s in
F r ice, 1920-21 to 152-30 S
17 Cotto': :.ili consr..ition of Arica row.s in
Ital 1920-21 Lo 1 .2S -30 . . .
18 Cotton: .:ill consEtu,;:tio:. of nrici n ,d 1 -l tgrowtL. in
zelj.:iuw n, 1920-21 to 19 -3 . .. .. .


(ov, r)






- 11 -


Great Pritain

The textile situation in C,-eat Britain during September continued
unsatisfactory with exports of cotton piece goods rnountin- to 142.7
million square yards compared with 1,58.0 million square yards during August
Fnd 237.5 million square yards during Septomber lust yerr. This was 2.9
million square yards below the previous pro-v.ar low which w7s made in ~ay,
1921. Exports of cotton yarns during Septer.;br totaled 9.1 million pounds,
1.1 million pounds below August .Ind 1.1 million pounds below Ceptember, 1929
and were the lowest since July 1921. Cabled reports of the first three
weeks in October indicate a situation slightly improved. A cable from I.n-
chester on October 17 st tes thA.t there is L more active denornd for yarn
rnd cloth due to larger buying for IndiU Lnd China.

Consumption of all kinds of cotton in greatt Britain for the 1929-30
season amounted to 2,445,000 br.les of approxi.ntely 500 pounds, which com-
pares rith 2, 52,000 bLles during the previous seLson und was the lowest
since the 1920-21 season. Cons'r.ption of Junoric-n cotton in Great Prit*.in
during the 'st season ai:ounted to 1,474,000 running bales compared vith
1,910,000 during tho'1928-29 scatson Lnd V:as 204,000 bilos lo-:er than the
1920-21 sccson.

Tuble 9.-Cotton: TIill consumption of Anoriccn nd l gronths
in Great Britrin, 1920-21 to 1929-30

Season binnin Aug 1 : Am:.ric!n : All growths
: 1,000 bales of 500 lbs. :1,000 bLles of 500 lbs.

1920-21 .................: 1,678 : 2,112
1921-22 ................. : 2,275 2,964
1922-23 ................. : 912,850
1923-24 .................: 1,6 5 : 2,15
1924-25 .................: 2,344 3,536
1925-26. ,................: 2,093 3,84
1926-27 .................: 2,077 : 3,051
1927-28 .................: 1,94 : 2,933
1928-29 .................: 1,910 :2,852
1929-30 ............ .......: 1,474 : 2,445

Figures of Int'rnatioall Fedor.tion of ::st,.r Cotton Spinners in running
biles converted to belos of .pproxirrmtcly 500 pounds gross.





C-63 CONi,.lTS (continued)
UNIVERSITY OF FLORIDA

T lll II ll liI IIII lllllI illlilt il lll 111
3 1262 08863 1121

19 Cotton: ill 'cons-nmption of American ajm.-all growths in
?olaid, 1920-21 -to 1929-30 .. .
20 C.tton: Lill consum2rtion-of American and all growths in :
Japan, 1E20-21 to 1929-30. .. ... .
21 Cotton: .i1l. consu-itition of Ain.rican ani all growths in '
China., 1920-21 to 1929-30 . ... -;
22 1930 United Szates cotton crop: Indicat.L production b;y
condition on October 1 with' comparisons. .. "i
23 Cotton: &-in:.ing by States from Augu'st 1 to October 1, .
1 2 3-1930 . . .
24 Cotton: Acreage and production in countries reporting for ':
13G- 31, wit h comari so ,. s 9*


U.:.
DEPO -SITO
arm go


U.S. D1!:.:





C-33


Table 11 Cotton: Continental mill consumption of various growths
of cotton expressed as a percentage of the totel,
1926-27 to 1929-30


i e .:'.I .; : ":L
e.-.r c... ,eric an Indian Egyptian : Sundries Total
A-j.fg. 1

Ser cent : Per cent : Per cent : Per cent : Per cent
ifl 3 3 100
192-27 ....... : 77 : 12 3 100
1927-28 ....... : 76 : 13 : : 3 : 100
192 -29 ....... : 73 : 16 :3 : 3 : 100
1929-30 ....... : 67 : 18 : 10 : : 100


ContinentU.l r.ill cons'ti.ption of cotton 1'.29-30

TP1e cotton c r 1929-30 brought a further decrease in mill consu-irtion
on the Co-tin.L-iet ;c restrictedd mill activit-. Some of ;he smaller countries
showed Mo .rl'cte increases, for exa-.ple, 3elgiuai, Hollcnd., Spain a-id the group
co:norisi.:i : "auir7 the Scan'cdinavian cou-tries, FinlaId nd Portugal, but
important declines occurred in all of the lec.ding me.T"fcct-aring countries.
The couiIries reporting some increase in r'.ill consumption and hence -ill
activity -.verj .ene-'allr those where economic conditions clring 1929-30 were
still rel.tivcl- good. T.is is substantiation of -he fact tt at the 1929-30
depression in .e cotton trade is characterized by unusu-al weight from the
demsand side. Cur're;nt low levels of -'eneral business were not anticipated nine
or ten mont.:s aeo.

Table 12 C tton: Mill ccnaun.tion in continental countries,
1927-23 to 1929-30


C.ntrv : 1927-23 : 19C-29 1929-30
:


Germany .................
Fran .ce ..................
Italy ...................
Czechoslovakia ...........
Belgium .................
Spain ...................
Poland .................
Switzerloy.d .............
Holland ..................
Austria .................
Sweden, Portugal ........
Finland, Dennark,
Ilorwayv, Hungary .........
Total 16
Countries ...............


1,000 ra:mning
S bales
1,5S5
1,180
: 954
546
424
: 413
: 360
: 116
: 183
164


: 307


1,0QO- running
bales
1,378
1,227
1,042
495
452
404
251
105
190
149


237


1,000 running
bales
1,323
1,171
1,001
451
461
412
225
101
206
117


302


: 5,780


__


-14-


5,980


G,232








C-63 -15-

Ger.;:

DiL ic-.'.it conditions confti-.LCu in the .I.-.'.1j.. cotton t:tile
industry t..:rj .h -ug,:st :ad Irl Se: tenmbr, :ith orders rciri.ini on
an uncsat r. .'2 t level .I occ-.x..tion only slit 1.7 bov" the low
point in '. :cl first Ll.f of th: ye._r.

Siinni:-.~ i-ills i-'arin- A-.1.ust report'l no rec.' betc n.::cnt in ..rw
sales, nftw7ithst-.ii 'dii, a s.:all revival at the end '-f the" .:-ntl. end,
earl'- in Se te.^ber in sou'.icern G-Or..: -riny -n'" I arts of Sa;:on-, *In' the
te::tile c:.:-ters of western CG.:r-n.an, fuirtler declines in new .tj-siness
occurred. Unfilled orlors are quite generally on a very low level -s
a res-..lt of t-.ese conditio.ic. T. level of spi-m.:; mill activity lso
remained low t'.-ou.:. t-here was -. 7onsidrz_.ble pice:-up) ih July following,
the sx.arrp ro., i. Ju .e.

D:ri-.g A:.-t cloth I,: ilis also re orted 'unfzvorble sales, a
situation w'hic.n wvas a grav-ted by., saso..-l ca-:tion cf buy ers. Unf-lled
orders are :1no0 i..ateriall:; below last .ea"r L.:.i below th'e worst months
of 1328. It is generally .dainttainci by J.-r,.'1n weavers that the decline
in raw cottoni added to other difficulties in t.:e sale of fabrics. W.Z.:.ving
mill activity is now also lowv 'ut registered a seasonal improvement in
July to a level somew-hat above the se.;c month l a .ea-r ajo,

I.- r.o-ts of cotton yarns i:Lrin A..,aust amounted to 4,949,000 p?u-.ds
compared wit> ',;,344 ,000 po-.u s iri:: Jul;- a id ,533,0': poJin-Z ,-inis_
Auaust las;. ye.r. Imports of woven cotton materials during Auj-Iust
declined 203,000 po'.uids as coin:.aredFi with July, but were only 24,000
pounds below -g.ist 192.3 ThusZ t-, situation in to..c cotton te::Lile
industr-y in .;Jrn.'a is still ver: -:-f vo;rable, .?'.tou 2,-;o-..: for
encouragement exists. Stocks of yarn : 'n goods wit:' the industry and
in the hnads of tLre trade remain ve-- low, unldoubtedl;-. ner a minimum
from an operating strcnduoi.t. ?Prth er-.ore, stocks with- the retail trade
are sr.:all, a fact proved by de-.ands for tihe shortest possible delivery
dates on t._e .irt of retailers en,--:ei in purchases. In addition, the
turnover i: .::e teitile. retail trpie 'has rec'ent.fly shown a sli- .t rise
in places.

o.rt.:er ground for optimisim- is also to be found' in the fact that
spinner bying of raw cotton in 3re,,.e:: lhas continued rather active through
August j.;d e.rl.-- Septe..iber, wit.: soin..ers calling freely on declines.
The present rw cotton price level is considered attractive by G-eIrmn
spinners, .i spot and. c.i.fi. inport purcases of the. dealers hc.ve also
been of fai- volume in recent weeks.







C-63


Agriculture, Department of Cor:.erct, and Cotton Textile institute, was
presented at a meeting of the Committee in V/achiington, D. C., S.ptemboe 30.

I.Iost promising developments v;er reported in proi.oting the retail
packaging of potatoes and oranges in cotton mesh bgs, and in the use of
cotton fabric as a binder for roadways, Sov.ral South and South-western
States wore reported as exporinmnti]L with the fabric in road construction.
Preliminary research indicates that the fabric prevonts splitting, of the
edges.of roads, and it is believed. that the goods has a similar value in
constructing shoulders to roads.

Among the many now and extended uses for cotton, reports were sub-
mittod on products such as tarpaulins for athletic fields, style fabrics,
posters and billboards, cotton letterhecads, fireproof fabrics, play tents,
model yachts, white cotton sleeves for traffic officers, and a proposed
rubberized cotton device to prevent the formation of ice on airplane viings
and struts. A campaign is to be w-aged looking toward the promotion of
cotton goods'during the coming Christnan holidays.

The use of cotton bagging instead o'f ute as a cotton bale Cover
has been the subject of Qonsiderable research by the Comrittee. Sufficient
technological work has boon donr in this connection, it was brought out at
the meeting, to make practicable the use of cotton bagging if and when cot-
ton is sold on a net weight basis.

Cotton improvement program

The Bureau of -Plant Industry in cooperation' with tho Bureau of
Agricultural Economics and the State agricultural colleges and experiment stsa
tions has begun a field study of cotton production in organized communities
in the Southeastern States, with special attention to the economic and
sociological puascs. The object of the study is to determine the advin-
tages to cotton gro:.ers from "cne-varicty cor.r.unitics", and to develop
methods of adapting this system of.production to sections of thi Cotton Belt
*in ,vhich local conditions vary.

Cotton improvement .on a community basis .as initiated in California
and Arizona several years ago and the feasibility of the plan in the south-
v;estcrn corirunitios has bueei demonstrated. Uniformity of staple is the most
important factor in detcrminin, the quality of cotton and'to have uniform
crops of cotton the seed must b( kept purr-. Expvricncr has shov.n that uni-
formity of fiber can not be maintained unless conmunitics grow only one
variety. In cormnunitics producing several varieties of cotton, the seed
became nixed at the gin, the varieties cross-pollinatcd in the fields, and
the seed stocks rapidly deteriorated.

Alabam. adopt farm rrograr fcr St.ate

A conference of agricultural work rs, farmers, bankers, and mor-
chants was held at Eontgornery, Alabama, October 6, at the invitation of
Governor Graves, to develop a program.of action in dealing with the present
cotton situation. The conference passed the-follow--ing resolutions:


- i-







Table ton, eria 1/: Consp ion ir United States 191.2-13 to 1930-31 *

Season A: Ag. : Sept, : Oct4 : Nov. : Dec. : Ja : JFebM..ar,. r..ia June s July : Total 2/
begin- 1,000 : 1,000 : 1,000 1: ,000 : 1,000 : 1,000 : 1,000 :1,000 :1000: 1,000 :1,000 : 1,000 1,000
ni3g : am:nine aUn2i: g: ius:ii:x^ng:- ;unnining:2i3nm.ng: rromi Ia- iinangarunng :iing: inning. : running: running : 'lgun.ing
Au :bales.bales 31bales a bales 34Mles. bales .aig :4bales:bales &:/ :bg le gag / -.


191-14: 419 428 494 : 443 : 443: 502 : 442: 475 389: 447 : 429 : 431: 5343
1914-15: 369 : 401: 436 : 407 : 434: 450 : 444: 503 : 491 472 : 492: 475 : 5375
1915-16.: 442 : 475 : 475 : 488 : 525 : 513 514 : 582 : 507: 549: 5144 : 466 : 6081.
1916-17: 532: 503: 522 : 554 : 511 : 571 : 521 : 575 : 528 .587 : 550' : .5186 : 6470
1917-18: 548 :, 504.: .566 : 571 : 501 : 509 : 496 : 557 : 532 : 56.2 504 : 530 : 6383
191&819: 524 : *479 430 445 :. 459 : 539 : 48-- 418 : 48-- 47: .457..: .491.. 5589I-i
.919-.2: 476 : 468 : 527. 464 : 479 : 555 : 484 : 535 : 522 ; 500 : 509 : 485 .. 6003
1920-21: 451.: 432.: 383: .319 285 : 355: 383 : 424 : 393 : 421: 441: 390 4677 .
1921-2,. 442 : :44 .470 : 498 : 481 : 500 : 447 : 494i 421 : 472 486 : 438 5613
1922-23:504 : 4776 51 : 552 : .502: 577: 534. : 589 : 542 : 583 : 5153 : 437: '6322
192-24: 467 : 462. 514 : 505 : 436 : 545 : 477 : 454 : 448 : 389 : 329 :- 327 : 553-'3
1924-5: 339 418 : 511 z. 478 : 511 : 568 : 526 : 559 571 508 : 470 460 : 5917
1925-26. -429 .457 : .519 525: .554 : 557 : 540,: 607: 554: 494: 4-97': 442 :6178
1926-27: 478.: 542. 541 562 : 582 : 580 587 : 665 : 593 : 590.' : 626 5: 'Z : '6880
1927-28: 5: 801: 587 600: 514: 559 546 557 : 502 : 555 : 48:6 4206 i35
1926-29z, 502 .470 .589: .588: 511 :639 : 569 604: 6042 639 : 544: 519 :.:6778
19293; .530 519 : 1610: 1 516k 428: 519. 4-69 -183 504 4-49 565 : ',0 5803

CoIt1 ile I o n to 0'. ic)Pro:.uc':ion ai-d DistributionYU iso7-db-y ti2e uea-o': t-" 0-o -0Su
/ealadixg lPintera. : / Su-:'L o othly figures may not checl to the total because both the'
totals and tlhe monthly figures were-roundeedto thousands.
4 hunaing bales-counting round bales asjhalf bales.

.. .. .
*j-~ A--;~~~~~~4.~:~~~~~







C-63


India

The area planted to cotton in lidia up to AuLust 1 wavL esti--.ated
to be 14,875,uu0 acres, as compared with ib,ob5,uuu acres planted to
the same date last year according tu infori.atini received fr, r:. he
Department of Conr:ercial Intelliijence ond Itatistics at Calcutta. Dur-
infg the last 15 years tie estir.:ite of the .rea plantcd to cotton in Iindia
up to August 1 has averaged 54.2.per cent of the final estir.Ate, the
range being from r7.5 per cent to 66.7 per cent of the final ,:stir.:ute.
The first estir.ate of Indian production is e;; :cted about Dece:iber 15.



It is estir.ated that 2,162,0900 Acres vwori planted to cotton in
Egypt this season, according to tth Inter atiJnal.Institute of kricul-
ture at Rome. rlic is an irlcrase of 250,000 acres or 13.1 per cent
over last season's acr'-La. T}. first cstir.ate of productioil this -car
however, of 1,743,0Oj0 balus of 478 pounds Let is an incr-aso of only
18,000 bales or 1.0 rpr cent of thit final stir...,tL of. last year's crolp.
Thc estirmatcd Lproduction of Sakcllaridos is 480,000 ,b.,loe tais y-ar
compared with 530,0'JO b,-lcs last y:'r orr a d cruaso of 9.2 ix r cont.

Russia

The latest esti-.atcs indicate that the 1930 russian cotton acre-
agt has fallen considerable b,.lovw t.xj stations. 2h: re.rca is !. rtiported
at 3,708,000 acres curr.parud .,ith th- pr lir.:iLary fi1urc of tih Int. rational
Institute of Lgriculture of 4,366,uuO acres reported at t.ie end of july
and 2,560,000 acres planted in 1929, according to Ai.ricultur-l Cor:missiuner
Steere'at Berlin. Thlis indicates an increase of 1,2u8,000 acres or 47
per cent whereas the earlier report had indicated an acreage increase of
about 70 per cent. Decent estir.ates for t'ie new crop,, according to ,.r.
Steere indicate a production of about 1,700,000 bales of 478 pounds cor.-
pared with a production last :;ear of 1,1U1,U00 bAles, an inc.'ease of
around 26 p)er cent. It appears, ho.,over, that since a cuns ide.rable share
of this .-ear's acrcauC vas plaitcd rather lAte t.,c wtatcor conditions at
the cnd of Septurnber and t::ruu.;huut ri~ost of October will be of 'great
importance. Cor:.missioner Stoe re mort: recently cabled t.;at the indications
wore for a crop somewhat lrzri r t:iin is rE(portcd nere,

"'itlh the harvesting of the nc-r;' crop, churt-i`c of sto-agz, transpor-
tation and pickin- facilities are cx.ccted to be serious problorms. bhort-
age of labor for tii- hiirv sting of tic crop: will. be the r.uot pressing,
ad last ye:ri considerable quantities of cottUon 1r.ailin. d in thi fields
because of thr labor problem.

L.iscellanoous nc-.Is

"NHew used for cotton" corz.mittoe r:. ports sjre'rLss

A surn-ary of th -.;ork of tnle last true rLars of thP .:'v Uses for
CottUn Cor.mnittcc, which ic co:nmoscd of reir: sentLtivus of tue pLrtP;.uL t of






C-63 J 30-

su:.:ly while prices, over a long period of ;-ears, have been adlvr-nc-
ing; and
10. Th'r.t production costs of cotton and all bther products be reduced
to a mirnimruli by improving the condition and fertility of the soil
by terracing, and growing legwues, ;.nd proper use of coinercial ferti-
lizer, 3nd by using enough machinery and power for efficiency, by
piCnting seed of the best varieties, by having livestock of good breed-
ing and by practicing the best methods of planting, cultivating and
hnrvesting crops, and of feeding and managing animals; and
11. T.L.t t.:e quality a-nd staple of cotton produced be improved by
planting seed of only the varieties which produce staples wanted by
spinners, and which will bring a higher per acre income as these varie-
ties are known and can be recoiriended by the experiment station of the
Alabar.ia Pol-technic Institute and this will reduce the production of
unte-nderable cotton, which is now being sold by farmers at discounted
prices, and which will probably be even more difficult to market in
the future, and
12. Tnat for assistance in production as well as in marketing we endorse
the work of the Federal Farm Bo3ard, the American Cotton Cooperative
Association, and the Alaba~ a Farn Bureau in its various lines of work
and call upon bankers and business mnen as well as farmers to give the
Federal Form Board and the Farm Bureau their hearty cooperation; 'c~d
13. That the Experiment Station, the Extension Service, and the Depart-
ment of General Economics of the Alabana Polytechnic Institute, the
FeCeral Farm Board, the Bureau of Agricultural Economics of the United
States Department of Agriculture and t.ie State Department of Agricul-
ture end Industries be requested to assemble ;-nd furnish facts about
prices, acreage, production, and business conditions and outlook'so
that planners ma; .have this information for consideration in making their
plas.s for adjusting production; and thal-t the "agricultural outlook"
infonmction furnished by t.ie Bureau of AgriculturJl Economics of the
United St..tes Deoart.-Ien't of Agriculture should be given local inter-.
pretation and dissemination by Scate agencies so ta..r-t the individual
fanner ccn determine which crops --e can most reasonably ex-pect to grow
at a profit on his own farm; and
14. That brzikers, merchants, civic clubs, ani other organizations, and
individuals interested vork together for promoting these reco.-i.e:ndations
throughout Alabama to the end that the -griculture of t-e State ma. be
placed upon a sound basis, which will avoid pe-riodic distresses and
give to the efficient farmer a profit eaca year on hi.s investments and
expenditures and for his efforts; and
15. That we request the Alabama Extension Scrvice, the Alabamap Firm
Bureau, tne Alabaina Bankers Association, the Division of Vocational
Education of the State Department of Education, and the State Department
of Agriculture and Industries to conduct district, county and local
meetings throughout the State to acquaint farmers and the general pub-
lic W'ith the situation and impress upon them the importance of pLtting
these recommendations into practice, and




Table 7.-Cotton, all .Xinds I/: Consu~irtion in United S'.ates 1912-13 to 1930-31


Season : Aug. : Sept.: Ot. :_ Nov. : Dec. : Jin. : Feb. : : J : r. a Ju.e J ly total 2/
begin- : 1,000 : 1,000 : 1,000 : 1,000 : 1,000 : 1,000 : 1,000 : 1,000 : 1,000 : 1,0 : 1,000 : 1,000 ,C000
ning : running: rum rt ng: run: ing: riuminng: rtumini : running : running: ruining: ru-ning: rumi : nin: ruling : running: running
1uf. 1 :bales :bales 3/bales 3 /bales bales :bales 3 bales 3:bals es 3/.bales ':bales :bules Abales 3/


1912-13:
1913-14:
1914-15:
1915-16:
1916-17:
1917-18:
1918-19:
1919-20:
1920-21:
1921- 2:
1922-23:
1983-24:
192-4-2 5:
1925-26 :
1926-27 :
1927-28:
1928-29:
1929-30:
1930-31:


432
384
464
558
569
535
497
484
1-67
526
492
357
451
500

526
559
352


412
442
415
499
528
522
490
491
458
485
494
486
438
483
571
628
492
546
39.1.


484
512
432
501
551
565
4:40
556
4-1l
494
534
543

544
568
614
616
640


449
456
421
515
58
590
456
1-91
333
5z8
579
533

543
354
627
611
541


423
4-56
451
555
557
516
47 3
512
295
511
529
4164

J76
603

533
453


510 :
517 :
468 :
542 :
601 :
524 :
557 :
592

527 ::
610 :
578 :
594 t
582 :v
603 :
:C6 :-
668 :
576 :


448 :
455 :
463 :
341 :
547 :
510 :
435 :
516 :
395 3
*172 r
567 :
509 :
551 ::
565 :.
590 :
573 :
595 :
1.94


* 9


Copi.led from "Cotton Production and Distribution'
/ -:cludiing linters. / SUn of I.untl
the .iont~hly fi"uies were rounded to thousands,
cotton in 500 pd.md bales.


issue .


by *ie


462
-95 :
525 :
614 :
604 :
571 :
473 ::
576 :
'-*l :0
520 :
624 :
486 :
383 :-

693 :

6:2
1.J1 :
ol2 :.
508 :

3.. eau of


479
5CC.
514
512
552
544
4 76
567
-09

577
.'79
597
578
618
525
652
532


482
467
494.
576
615
576
4188
541
-141
495
521
414

313
600
577
669
473


441
446
515
571
574,
516
474
555
462
509
542
350

519
660
510
.369
405


462
4-8E
4,97
490
536
5411
510
525
410
450
g:- IC,

463
3-17
/.---
-462
5370

547
379


5051
5626
5597
6398
6789
6566
5766
5420
4893
5910
6666
5681
6193
6-156
7190

7091
S106


;te Census.


. fi-ares :.'a not cieci L o the total
..ii;ares ,, 1 Cl I i


b.Jcauso both totals ind


2/ iliuini; bales couiltin, round bales as ;l. f blues, foeign


0
c


- ~-----


--


I





0-63 -13-


sales in recent w.:ck- t.-.c it :.as f 'r .i -n:" r.. nt:-st: ...- i::'-r .., .ud. interest
apparent in r:w ,.:c.teri-l or. t.e .'.0 o-' 0 ..- :'..-' ccrarr ; .C. t.-e tri d is
based, :how--v r, not onl. onI cu.-re; t 1.i *vor..'ble v'ri.ccr, b.t also '-.1on
general c;: ect:tion of re l iinrove.:cat in -arin ... clot.. s.lcs in co,:i-.,
months as a result of t':e rcdiced leve..s of cotton r:. ,A:d goods ctoc's
in the i; i.,ortiu.t textii.c coitl rs ;sai.i i:n tle .!cin:l of t..e .is'ributin
trade. T.lis more lib'cr: b-j-in.; pdlic- uLlidobtdl; -.-lso anticipctes a
stimulus to t .0 dii i.iid 'or -o.ods from in'i;'ovc. ecc-.lo..i' co:.ditio..s l...tcr
on. Genr .i' s-e.-:-.cing, the sit-,-:.tion be-s c.inilrale rese:ce
to that of 19.26, '.when, eA3ied b,', u.unsual-.. lo'.v prices, :.e conti.ental
cotton inda.sti: w:.s one of t..e first to sow activity ollowin, tco
business depression in previous :.ionths.

The cor.,:.ctitio: o- foreign -.rovwts wit.1 .Ameri-:n cotton develo-)-
ed stril:inal.- for teo sensor. 1C'2-30 as ti:cre w 3 a furt..-r shift in
consun 'tioi from An:.ericx-; to ot-.h.r :;rowt-s. -.s decli.-. in :.iill con-
sumptio.i o-0 -LLriceac cotton : w:-s gre:-.ter thaii ti-e fall in total :iill con-
suinptio;-, total consinur3tion of raw cotton diro :,tin, from '5, -24,000 bJiles
in 1923-29 to 5,5.5,000 in 19.9-30 or 250,000 b.lcs of 500 pounds 1;ross,
while i-.iil co-nsr-n. tion o0f uniericpn cotton showed a decline of 470,000
bales. S._Irics increaserl 10,C00, IL.iir. 90,000, .-d :l .-ptian 30,000
bales of 500 po'unds gross. T.is is a continu.-tion of t; c te.:dency,
evident since 1927-28 a.d the strilkid fi;ares this -'e-r cea be attributed
directly: to t'-. : -usually low levels of prices prevaili: for foreign
cottons.

Table 10 Cotton: '.'ill consu.nr-tion of Aincriccn a02d .ll growths
on t::c Continent ,f Europe, 1923-27 to 1922-3'-



Season beginningi A rica Indi ELrptic S.u-iries. Total
Aug. 1

:1,' i bales:l1,0'0 '.:Is: 1,C0CJ cles:1,C'j bales:1,:C. -ales
:of 500 lbs.:o0 300 lbs.:oa "., .C_ .:ox 53C lbs.:of 500 1's.

1926-27 ........ 4,407 : 684 48 : 132 : 5,738
1927-28 ....... : 650 : 770 : 473 : 183 : 6,083
1928-29 ....... : 4,239 : 924 : 506 : 175 5,345
1929-30 ........ : 3,772 : ',00 : 53 : 273 : 5,95


Figures of tae interna-tiond-l ?Tel rc.tio.n i- ri.-:ing b-aes convyrt-dd into
476 pounds -,.at or 500 pou:.s gross b-l-s on b-asis t.:c followi., co-
efficients: 1 India:: bale = .E A-iercica,. b:..les; 1 -2pti.- bale 1.--8
America b 1.is; 1 "Se-:dries' b:.le = .72 A.:erir...- ba._ls.







C-63 -18-


France

The outlook in France has been somewhat improved recently by'the
termination of the textile strikes "as well as a revivwil of demand for
cotton goods from the French colonies. This means that a relatively
favorable situation still prevails in the French industry, because unfilled
orders as well as mill activity were previously on satisfactory levels
though somewhat reduced as a result of the extensive strikes.

Following the settlement of the labor troubles in the Lille region
during the second half of August, strikes at Roubaix-Tourcoing and other
regions came to an end around the midCdle of September, and the general
feeling of the trade is nord som.ehat mo.'e optimistic.- A good current -of
yarn business was registered at Rouen, Epinal and Mulhouse during the
latter part of ..ugust and early in September, ihen Roubaix-Tcrurcoing was
still cor.plaining of an accumulation of yarn stocks -end -the possibility
of a reduction in working hours. Later, the stiuation improved at Roubaix
Then quite important sales were effected. At the sarie time, leavingg mills
reported a good volume of now business with grey as well as colored goods'
out of stocks involved in the new sales which extended to the end of the
year and even into 1931. 'Recently improved demand for cotton goods at
Epinal and Roubaix on the part of Algeria has been favorably commented upon
in the outlook for future developments.

Spinner demand for raw cotton, while some'-:hat quiet lato in August,
showed a revival early in Soptember, %:hen prico fixing '-.as E.lso important.
It is rumored that spinner interest extended as far as I.1ay 1931.

Despite ro ivcly favorable conditions in the French cotton textile
industry, the year 1929-30 also brought a decline in total raw cotton con-
sumption, with a shift from' merican to other cottons, as in other countries,
French consumption of Egyptian staples has slumped however, in the last
half of the season.

Table 1.-Cotton: Mfll consumption of .mericrn rnd all growths
in FrLnce, 1920-21 to 1929-30

Season bIg..innin.u-. L'_: .meeri cn n 1 All growths -
: 1,000 bales of 500 lbs. : 1,000 bales of 500 lbs.

1920-21 ................: 83 : 722
1921-22 ................: 799 : 1,035
1922-23 ................: 790 :1,154
1923-24 ...............; 700 :1,056
1924-25 ..............: 806 : 1,127
1925-26 ................: 835 : 1,176
1926-27 ...............: 825 : 1,170
1927-28 ................: 829 : 1,169
1928-29 ................; 824 : 1,212
1929-30 .......... ...,: 728 1,155
Figures of International Feduratiou. of Master C itton Spinners in running
bales converted to bales of appromxinatoly 500 pounds gross.


*i








C-63 -22


Table 20.-Cotton: IFill consultation of :'aericnn and all growths
in Japan, 1920-21 to 1939-30

Season beginning k.ug. 1 : Amrican .. : All growths
S _QOC bales of ICO lbs. : 1,OCO bales of 500 1bs.

1920-21 ...............: 622 1,847
1921-22 ................: 796 : 2',088
1922-23 ................ 723 2,247
1923-24 ................: 57 2',043
1924-25 .. ...............: G9 : 2,182'
192i -2G ...............: 882 2,479
1926-27 ................: 1,132 2,562
1927-28 ................: 1,078 .. 2,312
1928-29 ................: 1,1CO 2,487
1929-30 ....... ........ 1,092 2,678
Figures of' International Federation of Master Cotton Spinners in running
bales converted to b&iles of approximately 500 pounds gross.

In Japan the consumption of all kinds of cotton in the 1929-30 season
amounted to 2,' 78,000 bales of opproxit.tely 5C00 pounds. This '"Ps an in-
crease of 191,000 bales over the previous season. Consumption of American
cotton in Jpr:,n during the past season, "however, was slightly below that for
the 1928-29 season amounting to 1,092,00 running bales.


C-ina

S'.ocl:s of Chinese yarn have increased with the exception of a few
mills due to d:ay and night operations, according to a cable from A.-ricultural
Commissioner NTv.u :; :t Shanghai on September 25. As a result of these larger
stocks and of political conditions, the trend of yarn prices have been
somewhat dovnwinrd. Military and political 1 events are speculative factors in
the market outlook:, but mill owners are confident that if the country could
ha-e reasonably peoiceful conditions for a tine yarn would move quickly into
thu inter-ior ;and improve the gen3rul situation. During the week prior to
September 25 the demnd for' yu rns improved and prices advanced considerably
as a result of improved socit.l conditions in Northern China rith exchange
somewhat better. Piece goods prices are moving closer to current replacement
costs and the market is considered in a healthier condition than formerly.
In the Japanese mills the production for many months chead hns already been
sold.

















































il


















'I






C-63 -23-
':orld sa:-y of acreage ?e d production.


Cotton acire.-.e in countries rep-orti:ng to date totals 0.8 per cent below
last y-ea. T-e decreases were in the United States Id- I:dia. Of the
foreign countries, Russia is the r-ost si-gnificat producer having reported
production to edate. Following a 47 per cent increase in t.creage, the Russian
crop is forec.-.st at 26 per cent above last y-eE.r. Recent reports from
Agricultural Co'.mmnissioner Steere .t Berlin i -dicate that final figures may
show the increase in the Russian crop to be somewhat greater than now forecast.

Table 24 Cotton: Acreage and production in countries reporting
for 1930-31, with comparisons


l e,.. es.a country,



ACJZZAGE
United St :.es
India /J
Russia (Asiatic)
.gy/pt
Alaouite
(Syria end Leba:non)
Chosen
Total above countries

Estimated world. tot.l
excludit;^ C..ina


: Average : : : : ercent-ge
:1903-10 to: 1928-29 : 1929-30 : 1930-31 :1930-31 is
1: 913-14 : : :of 1929-30
S1,00'0 : 1,000 : 1,0)0 :1,000 : Per
acres : acres :acres :acres : cent

34,152 :45,341 : 5,793 : 44,791 : 97.8
S12,833 : 15,196 : 15,3 5 : 14,675 : 93,6
S 1,569 : 2,261 : 2,560 : 3,768 : 147.2
S 1,743 1,805 : 1,912 : 2,162 : 113.1

9 : 17 : 37 : 217.6
146 : 503: 459: 463 : 100.9
: 50,4'8 : 5,115 : 66,623 :66,096 : 99.2


: 62.500 : 82.400 :


81.970 :


?.JDU-CIIO: 2/

United States
Russia
Algeria
Greece
Union of South Africa
Total above countries
Estimated world d total
including China


1,000 : 1,330
: ?les : cales

S13,033 :14,478 :
905 1,137 :
: 1 6 :
S 13 : 15
: : 10.:
: : 15,646 :

:: 25,100':


1,0 0 : 1,000 : Per
bales : bales :cent

14,828 : 14,486 : 97.7
1,351 :3/ 1,700 : 125.8
8 : 6 : 75.0
35 : 40 : 114.3
8 : 12 : 150.0
16,230 : 16,244 : 100.1

26,200


Official sources and International' Institute of
from i:form;,tion received uo to October 23.


Agriculture except as noted


1/ First estimate which includes onl e- area ol;.te u to iug'ost 1.
2/ In bales of 478 pcu'.ds net.
3/ Estimate of t-e Soviet Gover-nment as reported by Agricultureal Cornmisssioner
Steere of Berlin.


34


6 500 : 240,





- -''- -'--





C-63 -4 L

Table 2.-Prices of Egyptian Uppers at Li-erpool in percentage
of American at ':roerei l/
Season i Nov.: Dec.: Jn. Feb.: :Iar; :Apr.: 'ay :June : July: Aug.: Sept.
Per: Per : Per : Per : Per : Per : Per : Per : Per : Per : Per
:cent: cent: cent: cent: cent: cent: cent: cent: cent: cent: cent

1925-26 : 127 : 127 : 117 : 108 : 109 : 105 : 113.: 112 : 107 : 107 : 118
1926-27 : 130 : 114 : 119 : 113 : 117 : 113 : 122 : 127 : 126 : 128 : 118
1927-28 : 120 : 115 : .117 : 115 : 119 : 124 : 120 : 114 : 106 : 105 : 104
1928-29 : 102 : 103 : 103 : 105 : 104 : 100 : 100 : 96 : 96 : 94 : 100
1929-30 : 98 : 97 : 98 : 104 : 104 : 100 : 103 : 101 : 111 : 108 : 116
1/ Bremen quotation for strict middling American, 1 1/16".


"Basis" At Bremen 1/ lIotations of tie "basis" for new cro-o cotton
have experienced considerable recession during recent months. The decline
was especially important from mid-August to rid-September and notably for
15/16" cotton of good middling und strict middling grades and for 1 1/32" and
above in middling cotton. (From coble) From September 15 to October 1 the
"basis" improved considerably in all qu:lities except middling 15/16 inch
which continued to decline.

Table 3.-"Basis" for now crop, points on December, New York
delivery October to Decembor, f. o. b. 9romon 1/

: May Juno : July July ? Aug. Sept. Oct.
Grade : Staple : 26 23 14 26 19 15 1


Good middling ....: 15/16 : 240 : 225 : 225 : 210 : 195 : 165 :182
S1/16 :490 : '435 ; 440 : 420 : 360 : 340 : 377
Strict middling ..: 15/16 : 210 : 190 : 200 : 180 : 165 : 135 :177
:1 1/16 : 460 : 370 : 410 : 365 : 345 : 320 : 347
Middling .........: 15/16 : 170 : 145 : 160 : 140 : 145 : 125 : 117
:1 1/32 : 285 : 245 : 260 : 215 : 215 : 185 : 197
:1 1/16 400 : 310 : 350 325 : 290: 260 :272
Strict low mid- : : : : : : :
dling ..........: 15/16 90: 65: 75: 75: 60: 45 : 57
:1 1/16 : : -: 10: 150 220 -
./ From Agricultural Commissioner Stooro's report.

Futures

Cotton futures prices in Now York from Septomber 19 to.October 17 de-
clined 0.55 to 0.72 cents per pound with the greatest decline in th3 October
contract. In How Orleans and Liverpool the futures prices were very much in
line with the New York market and from September 19 to October 17 declined
0.61 to 0.74 cents and 0.65 to 0.77 cents per pound respectively. Tn all
three of these markets the near months were somewhat weaker than the more
distant months.







- 23 -


The decline in yrrn prices continued into Octobur according to cable
from Comnissioner !'yhus on October 21. This 'vc ti disppointment to mn.ny
in the trade who expected a substantial improvement with '.he improvement
in the civil conditions in Forthern China. Deliveries of yrrn, on the
other hand, have beon quite sotisfLctor:r ,nd mills are running al8.ost to
capacity without stocks becor'ing excessive. Deliveriies in some lines of
piece goods have been good and the market is steadily improving. The ex-
change rates have brought about incroesud prices of piece goods rnd the
weaving industry in Chip~ lih-s had a very flourishing period. As a result,
several r.ills arc adding nor looms.


Table 21.-Cotton: I!ill consumption of American tnd all growths
in China, 1920-21 to 1929-30

S-eason beginnin.r up. 1 : Anmeicin .: A growths ___
:1,0CO bclcs of 50_C lbs. : 1,000 bnlas of 500 Ibs.

1920- 1 ............. .. : : 502
1921-22 .................: 132 : 1,420
1922-23 .................: 110 : 1,540
192S-24 .................: 78 : 1,505
1924-25 ........... ....: 71 : 1,542
1925-26 .................: 120 : 1,657
1926-27 ............. : 274 : .1,828.
1927-28 ................: 297 : : 1, 54
1928-29 ................: 279 : : 1,877
1920-3Q ..............: .*3 : 2,205

Figures of Iiternatioaol Federa'tion of L:.stcr Cotton Spinners in running
bales converted to balas of approximo-.tly 5CC pounds gross.


The tot:.l consumption of ll kinds 01 cotton in Chin,,. during the
1929-30 season ;.noint-d to ',205,0CO btlus of tipproxinLtcly 500 pounds com-
pared with 1,877,000 the previous setsori. Consumtt.on of .nerican ootton
the past season amounted to 2'2,OCC btlds comp:.rod with 27?,000 bales -dur-
ing the 1928-20 season and 2'.7,000 during thu 1927-28 s,,sdn,


C-63





C-63 -20-

Table 18.-Cotton: Mill consim.tion of American and all growths
in Belgium, 1920-21 to 1929-30

Sea son b beginning Aug._ _1: kAmerican : All growths
: i0OCO bales of 500 lbs. : 1,000 bales of 500 lbs.

1920-21 ................ : 113 : 192
1921-22 ................: 136 : 234
1922-23 ........ .......: 129 :245
1923-24 ................: 121 :265
1924-25 ............... 149 : 274
1925-26 ................: 177 : 319
1926-27 .................: 207 : 333
1927-28 .............. : 215 : 380
1928-29 ...............: 219 :405
1929-30 ...............: 180 : 402
Figures of International Federation of Laster Cotton Spinners in running
bales converted to bales of approximately 500 pounds gross.

Poland

The slight improvement in the cotton textile situation' reported for
Poland during the last two months has continued and activity has shown further
increase due to seasonal tendencies. However, the price raising policy of
the yarn cartel has found strong opposition front yarn consuming manufacturers
because it has impaired the competitive strength of Polish cotton fabrics.
in foreign markets. Following the recent increase in spinning activity from
46 to 51 working hours per week, another increase from. 51 to 58 hours has
taken place. In other words the rate of cotton consumption has been advanced
about 25 per cent.

Both the weaving mills and the yarn trade are now in opposition to the
spinners' cartel ,nd are discussing a cartel of the weaving mills, at the
same time urging the government to grant a duty-free yarn import contingent
in order to relieve the weaving mills from the conditions brought about by
the price policy of the ya--n cartel. Czechoslo'rakian and Austrian banks
are said to have offered easy credit terms to Polish weavers for purchases
of cotton yarn in these countries. Recently, however, spinners and weavers
seem to have reached a somewhat better understanding of their mutual interests.
In general it seems that the cotton textile situation in Polrnd has somewhat
further improved. The heavy decline in mill consumption of cotton which
occurred in Poland during 1929-30 all fell to American cotton.





UNITED STATES DEPARTMENT OF ACRIGUITURE
Bureau of Agricultural Economics
Washington

C-63 W TORLD COTTON PROSPECTS October 27, 1930


SUIJLRY

Cdtton prices generally weakened between mid-Septenber and mid-October*

Prices of middling 7/8 inch cotton in the ten markets declined 0.69 cents per

pound from September 19'to October 17. The decline in few York end New Orleans

was about the same vhile in Liverpool American spots declined 1.07 cents.

In the futures markets for American cotton the net decline amounted to 0.55

to 0.77 cents per pound with'the near months somewhat weaker than the more

distant months. At Liverpool the net decline in spot prices for the more

important foreign growths ranged from 0.06 to 3.28 cents per pound.. The

greatest declines occurred in Egyptian cottons, especially Uppers, and the

smallest in Peruvian and Brazilian. The spread between f.o.b. Bremen prices

for fall delivery and New York December futures, which had declined from

July into early September, increased in the latter part of September.

The world visible supply of all cotton on October 10, 1930 amounted

to 7.2 million bales or 1.9 million bal3s greater than at the same time

last year. AmDrican cotton constituted 75.2 per cent of the total this year

whereas ldst year American cotton constituted 67.4 per cent of the total.

Stocks of Indian cotton in Bombcy on October 10 decreased from 13.3 per cent

S of the total visible supply last year to 7.1 per cant this year.
Exports of American cotton during September amounted to 903,000 bales,

177',000 bales more than during September last yc-..r and wcru the largest

since 1913. Exports during August and S-ptembcr this year wvar 317,000 bales

above the same period last year. Stocks at ports Lnd interior towns in the






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