UNITED STATES DEPARTMENT OF AGRICULTURE
Bureau of Agricultural Economics
Washington

June 19, 193n
0-59 WORLD COTTON PROSPECTS 1/



ST MMARY

During May and early June there was a general downward trend in cotton

markets both in America and abroad. From May 2 to June 6 American upland

spot cotton declined 73 to 90 points in the United States and 53 American

points in Liverpool. Other important growths at Liverpool declined 51 to 223

points with the greatest drop in Sakellaridis. The American futures markets

during this period dropped 35 to 75 points with July contracts showing the

greatest weakness.

The world visible supply was about 1.2 million bales higher than a

year ago on June 6, about two-thirds of this increase being in stocks of

American cotton. The decrease in the visible supply from May 2 to June 6

was about four-tenths as great this year as last. Exports from the United

States for this period were 133,000 bales lower than last year, and for the

season to June 6 were 1,239,000 bales lower.

The domestic textile industry continued its curtailment through May,

with consumption of raw cotton about 58,000 bales below April and 195,000

bales below May last year. Cotton goods markets are reported quiet and ex-

ports of cotton cloth in the first four months of this year were 75 million

square yards, or one-third below last year. Curtailment in Great Britain is

continuing and sales remain below output. The situation in Continental Europe

Continues unfavorable except in France where both sales and mill operation
L/ Prior to this issue this series had the title Foreign News on Cotton. The
last issue under the old title was F.S. dated May 16, 1930.
C-58

'.'i :".' .





C-59 2 -

are very satisfactory. Japanese mills are contemplating a further restric-

tion of output to offset the decrease in cloth exports caused by the higher

Indian tariff and the low value of silver. The renewal of civil strife in

China has slowed up the market for yarn and the stocks at mills are large

and yarn prices have dropped, but mills are maintaining their level of activ-

ity.

World production of cotton for the season 1929-30 is now estimated

at 26,200,000 bales of 478 pounds net with the United States crop at 57 per

cent of the total. The Egyptian estimate of production has been revised to

1,725,000 bales of 478 pounds net.

The weather throughout the Cotton Belt in May and early June was a

little unfavorable with the ground rather too dry in the "astern belt and

during the last two weeks a little too cool, whereas in the Central and

Western sections there have been some excessive rains with the temperature

from favorable to slightly too cool. Fertilizer tag stles are reported at

about 1 per cent above a year ago during the period December through May.


PRICES


Spot cotton

There was a rather steady downward trend in the American markets dur-
ing the month of May and the first week of June. The average of the ten
markets for middling 7/8 inch for June 6 was 14.59 cents or 73 points below
the quotation of 15.32 cents on Friday May 2. New Orleans declined 90 points
during this period and on June 6 was 15.00 cents. New York middling quota-
tion on June 6 at 15.85 cents was 75 points below the May 2 quotation.

There was little change in the demand for the different grades and
staples during May, the demand for all being rather week.

The trend of prices at Liverpool was also downward during May and
early June. Of the more important growths, Egyptians, especially Sakellaridis,
showed the greatest weakness. The quotation on fully good fair Sakellaridis
on June 6 at the present rate of exchange was 26.66 cents per pound which is
223 points below the quotation of 28.89 cents on May 2. Good Uppers were not




." .








SPOT COTTON: COMPARATIVE PRICES AT LIVERPOOL. 1930


PREMIUM OR DISCOUNT FROM AMERICAN
MIDDUNG
CENTS
PER
-on Mddis/f POUND


3 10 17 24 31 7 14 21 28 7 14 21 28 4 II l8 25 2 9 16 23 30 6 13 20 27 II 18 25
JAN. FEB. MAR. APR. MAY JUNE JULY
STiMATED


J. DEPARTMENT OF AGRICULTURE


BUREAU OF AICmULTmIL ECOIniU


Fig. /









C-59 -

so weak, declining only 64 points to 20.91 cents. American middling declined
53 points to 16.91 cents, and fully gocd Comra No. 1 (Indian cotton) declined
51 points to 10.24 cents. From Firure I it mEy be noted thct in relation to
Amoriccan middling, Sakcll-ridis is non lo,.nr thLn it hl's begun since Jrnuory
3. During Jrnurry, Februr.ry and M:rch both Sakellcridis med Uppers strength-
ened considerably in relation to American as wcs pointed out last month. How-
ever, late roports-indicate that the-condition of the now crop is good, that
the Egyptian Government has incurred a very heavy indebtedness in their futures
operations, and that the current situation is somewhat strained, cll of which
account for the ieak-oned market for Egyptian. The price of Indian Oomra, hrs
shown more weakness than meorican over since the first of the year, and this
accounts in part for the greater relative consumption of Indian cotton than
of Americen.

At Bremen Indian cotton has also become cheaper as 'compared with
Lmorican, largely as a result of a relative de'cl'in 'in the lower grades and
staples, Ocmrc .nd Scind, according to Agricultural Cormissioner L. V. Steere
stationed at Berlin. This decline is in part seasonal, but nevertheless
Indian cotton is now on the lowest level in years in relation to Lmerican.

Prices of Egyptian Uppers at Bremen have risen somewhat compared with
American and are now relatively higher thin a year ago, but much below the
relative prices from 1926 to 1928.' (L. V. Steere)

Futures

The futures markets showed a little strengthening during the middle of
May, but since then there has been an irregular market with a gradual down-
ward trend until the first v~ook in June when there was a rather sharp drop.
The Liverpool end American markets dropped 40 to 70 points from ME.y 29 to
Juno 6. The auotrtions on June 6 were from 35 to 75 points below the quota-
tions on lMy 2. New York July contract closed Juno 6 at 15.75 cents or 75
points below May 2 and October old closed ct 14.50 cents a decline of 38
points from M1-y 2. Liverpool July declined 50 points from May 2 to 15.80
cents and October declined from 15. 0. cents to 15.49 cents or 43 points be-
tween these dates. From Figure II it may be seen that the unusual strength
in alcy and July contracts held throughout the period aerd that the Now York
market hEs been considerably stronger then the Liverpool market for both cay
and July though the relation of Low York and Liverpool Ic.y options was more
nearly non.ial the last days of trading on this contract. It will be of in-
terest to many to know that cl ut 600,000 bales .ere delivered on New York
aey contracts. This was the largest delivery ever made in 'mny one month
in the history of the Cotton Exchange. Though New York July is still much
stronger than Liverpool July, the Now York quotc.tion is no longer above Liver-
pool. On T.E.y 2 New York July was 20 points above Liverpool July and on June
6 Liverpool was 5 points above Now Ycrk. The relation of October contracts
in the New York and Liverpool markets remained fairly steady throughout the
month with Liverpool from 75 to 100 p' ints above New York. July contract on
the New York market has been from 85 to 198 points above the New York October
contract. On May 6 the July contract was 198 points abc7e October and on May
12 only 85 points above, but on June 6 was 125 points above.


__1 _i








C-59 4 -

Mr. Stoero reports thnt rc.ther unusual developments occurred in the.
relationship between Bremen .nd Americr.r futl.,res. While Bremen usually sells
considerably above niirice, it has fallen.materially below since the middle
of March.


Bronen July futures above (+) or below (-) May futures at:


New YorT New Orleans
(Points) (Points)

End of Feb. .............. + 67 +. 82
Middle of Mar. ........... + 79 +100
Middle of Apr. ......... 58 26
Middle of May ........... 62 25



This abnormal decline of Bremen compared with America,. while per-
tially traceable to abnormally high old crop futures in the United States,
is also partly due to the fact that delivery terms in Bremen will be changed
effective with October delivery, 1930. According to the new trading rules.,
July is the last mcnth against-which certain lower qualities (fair staple,
yellow stained good middling and strict middling) can be tendered. As the
stocks at Bremen of fair ste.ple, etc., are relatively large, it is probable
that much low quality cotton will be tendered against futures in July.
Therefore, everyone has been anxious to got rid of July contracts, which de-
pressed July considerably.



Bronen December futures above (+) or below (-) October futures at:


Iew York New Crleans
(Points) (Points)

End of Feb. ............... + 9z + 115
Middle of Mar. ............. + 100 + 117
Middle of Apr. ............. + 80 + 104
Middle of May ............ .+ 91 + 123














... ii..i ii...... .








COTTON FUTURES PRICES AT NEW YORK AND LIVERPOOL, MAY. JULY,
AND OCTOBER CONTRACTS. FRIDAY CLOSING QUOTATIONS, 1930
CENTS
PER
POUND


19



















17 Liverpool, July
Moy





18
1
I
w Y, rool, October



New YorYk,
July

17
3 10 17 2 31 7 21 28 7 1 21 28 18 25 2 9 16 23 3Lerpoo0 6 13 20 27 4 J 18











ICU
I
I
















if i

I
6 NeI York,_ My



I'









JAN. FEB. MAR. APR. MAY JUNE JULY
a When the exchanges are closed on Friday the Thursday quootatons are used
U.S. DEPARTMENT OF AGRICULTURE F, BIIIUAU OF AGnCRUtLTUIL ECOIR


MICS


-31P~;;~~







C-59


- 5-


STOCKS 2 D !!0VN-.'1hT


World visible supply


The Corncrcir.l and Financial Chronicle gives the world's visible
supply on Friday night Juno 6, with comparisons fcr scra date in 1929 as
fcllcns:

jierican cotton


Itn 1929 1930

: Running bales Running bales

Groat Britain stocks . . . . 627,000 : 360,000
Continental stocks . . . . 607,000 : 683,000
American afloat for Eurcpe . . .. 173,000 : 91,000
United States port stocks . . . : / 1,011,075 : 1,723,353
United States interior stocks . . : / 381,208 : 740,002
United States experts today (Friday) 141 : 761

Total Anerican . . . . 2,799,424 : 3,598,116


Ec.st *Indian, -Brazil, etc.




Great Britain stocks . . . . 393,000 : 507,000
Continental stocks . . . . 81,000 : 97,000
Indian afloat fcr Europe . . . : 146,000 : 184,000
Egypt, Brazil, etc. afloct . .. 106,000 : 82,000
Stocks in Lloxcndria, Egypt . .. 333,000 : 521,000
Stocks in Bonbay, India . . 1,178,000 : 1,256,000
Total East Indian, Brezil, etc. : 2,237,000 : 2,647,000
Total American .. . . .. 2,799,424 : 3,598,116

Total visible supply . : 5,036,424 6,245,116

L/ Includes Houstcn stocks.


The total visible supply is 1,.208,692 bales more than a yerr ago. Of
this increase 798,692 bEles were Amorican and 410,000 bales foreign. It is
significant .to note that the tctl visible supply on June 6 was 6,245,116
bales whercas it was 6,659,166 cn T.ay 2, making a decrease for this pcricd of
414,050 bales against a decrease for the corresponding period last year of
1,016,382 bales.

."e



Ik.,j,. d .,,: ..:






C-59 6 -

The New Orleans Cotton Exchange reports that American mill takings
for May ecre 251.5 thousand bales belcw April and 181.0 thcusend bales below
May last year. (See following.Table-)....St.cks. at ports and interior towns
et the end of May showed a decrease of 149.7 thousand since the last of- pril
whereas last year there was a decrease cf 541.7 thousand bales.
Cotton: Movement in the United States, reported by the
New Orleans Cctton Exchange, 1928-29 and 1929-30

: : Stocks at port
Lno ri can
: .: and interior
In sight Fort receipts : Overland mill : tns at end
*. towns at end
cMnth: : : : takings of month

1928-29 1929-30 1928-29:1929-30 1928-2919-30 1928-29 1929-30 1928-29 1929-30
S 5 4 6


:1,000 : 1,000 : 1,000 : 1,000 :
: bales : bales : bales : beles :

Aug. : 50866: 823.4: 273.8: 462.4:
Sept.:2,026.5:2,430.71l,309.7:1,339.7t
Oct. :3,927.5:4,183.8'2,510.0:2,393.0O
Ncv. :2,901.7:2,681.9:1,676.0:1,529.68
Dec. :2,342.8:2,104.8 i/ :1,157.1:
Jan. :1,112.3: 840.5: 791.2: 534.6:
Feb. : 631.2: .417.0: 447.4: 304.7:
Mar. : 736.0: 465.8: 434.2: 240.7:
Apr. : 555.4: 456.8: 271.7: 225.7:
May : 327.7: 343.2: 159.8: 257.4:


1,000 : 1,000
bales : bales

34.3 : 72.8
29.9 : 94.1
163.2 :-1960
175.3 :.168.2
1/ : 155.1
211.0 : 139.8
163.5.: 93.3
156.9 : 92.1
119.1 : 70.7
94.8 : 56.4


: 1,000 : 1,000 : 1,000 : 1,000
: bales : bales : bales a bales
* *
: 398.8: 461.1: 802.2: -908.
: 437.9: 529.1:1,782.8;B,148.5
:901.3:1,041.13 ,525 .a'4,154.6
:1,106.9:1,144.2:4,011.53i4,585.
: / :1,015.3: I 4 :4,673.9
:721.5: 577.7:3,655.9:4,877.
: 538.0: 360.9:3,145.5:3,,884 .
: 654.2: 531.3:2,714.1:3,350.7
:645.3; 583.5:2,145.0:2,870.,
: 513.0: 332.0:1,603.5:2,921.


_/ The figures for December 1928 missing.

.Exprrts of Lrorican cotton

Experts of ilericn.n ccttcr. continue to be very low. The follofvng
Table sn exports wu.s tcken from the New York Cotton Exchange reports:

Exports of Ancrican cotton


Aug. 1 Mai 2 Aug. 1 June 6 May 2 June 6
Exported
S to 1928-29 : 192,-30 1928-29 1929-30 1928-29 1929-30

: unniing :: unning : Running : Running : Running
: bales :bales : bals bales : bales :bales
: : ': :
Great Britain .....:1,760,481:1,199,096:1,812,668:1,239,316: 52,187 40,880
France ...........: 755,861: 785,859: 780,704: 810,094: 34 945 24,235
Continent, etc.....:3,491,164:3,-130,661:3,710,735:3,264,235: 219,571 : 13-,574
lexico ............: 25,082: 14,586: 2 5,814: 16,840: 732 : 2,P54
Japan & China .....:1,348,487:1,145,354:1,424,194i1,185,017: 75,707 : 39,63
Total .........:7,381,072:6,275;556:7,754,115:6,515,502: 373,043 : 239-,94


. *








C-59

The total exports for the season'up to June 6 were 1,238,613 bales
below the sane date last year. The greatest drop was in exports to Great
Britain, a decrease of.573,352 bales. .Exports to the Continent were
446,500 bales below last year and the exports to Japan and China were 239,177
--bales below a year ago. Exports to France were ?<9,394 bales above last year,
but the exports to France for the period May 2 to June 6 were less than the
corresponding period a year ago. Total exports from May 2 to June 6 were
239,948 or 133,097 bales below the corresponding-period a year-apo.

Exports of American cotton during May were 208,796 bales, the lowest
for the month since 1923, and 104,207 bales below May last year, according
to the Department of Commerce. Exports for the ten months August through
NMy were 6,329,322 bales or 1,177,623 bales below the same period a year
ago.

Takings of American compared vith other growths

According to Consul Dickover at Kobe, total imports into Japan for
the season up through March as reported by the Japan Cotton Merchant's
Union of Osaka showed a decrease of 9 per cent as compared with the previous
year and the imports of Indian cotton were only 2.5 per cent less while im-
ports of American were 24 per cent less.

Trade Commissioner Elizabeth Humes makes the observation that for
the five-year period 1909-1913 imports of American cotton into Italy
accounted for 70 per cent of the total, Indian 23 per cent and Egyptian 5
per cent, whereas during 1929, 68 per cent of the total was American, 19
per cent Indian and 10 per cent Egyptian.

A report from Consul Egmont C. von Tresckow at Rotterdam, Netherlands
points out that receipts of American cotton during 1929 were 37 per cent
less than the previous year, Egyptian cotton remained about the same and
receipts of Indian showed a gain of 37.1 per cent and the receipts of all
others increased 90 per cent.

Continental spinners' takings 1_/.

Spinners' takings of American cotton on the Continent reached an
unusually low level in May and early June following a steady decline
since November. Demand and price fixing in France, however, during the last
half of May has improved with the trade purchasing rather large quantities
of the new crop. The Easter holidays doubtless helped to reduce the ab-
solute volume of takings, but the rate, nevertheless, was unusually low.
Total takings by continental spinners of American cotton from the beginning
of the season (August 1) to d"te are 13 per cent below takings in the same
period lust season and 19 per cent lo7er than those in the season before
last.

I/ From report dated May 21 from Agricultural Commissioner L. V. Steere
at Berlin.
.







-8-


Continental spinners' takings of American cotton
during specified periods


Four weeks ending 1927-28


S 1928-29 1929-30
f
__ *_ _____ *___-_______


: 1,000- ilus 1/1,000 bales 1/: 1,000 bales /.

Nov. 29 . .. . : 443 424 434
Dec. 27 . . . . : 457 436 415
Jan. 24 . . . : 465 454 406
Feb. 21 .... . : 397 361 380
.Mar. 21. . . . : 412 :477 364
Apr. 18 . . . : 376 332 304
May 16 . . . : 404 337 256
/ Bales of 478 pounds net.

Takings August to May 16, 1927-28 were 4,332,000 bales; 1928-29,
4,048,000; 1929-30, 3,526,000 bales.

Movement in the United States

The Commercial -ind Financial Chronicle reports the Southernlmill
consumption for the season to June 6 it 4,630,000 bales against 5,021,000
bales last year and the Northern mill takings for the season to June 6 at
1,129,270 bales compared to 1,325,694 bAles a year ago.

TEXTILE SITUATION

United States

The cotton goods markets have been rather quiet and curtailment in
the cotton textile industry has continued through lay. The Department of
Commerce reports that exports of cotton cloth during the first four months
of this year amounted to 145 million square yards valued at 19 million
dollars compared with 220 million square yards valued at 31 million dollars
for the corresponding period last year. Consumption of raw cotton in the
United States during May, according to the Bureau of the Census, was 473,917
bales a decrease of 58,465 balos from April and 194,733 bales below May 1929.
This is the lowest consumption for the month of May since 1924.

Activity in the cotton cloth industry, based on the report of the
Association of Cotton Textile Merchants of New York, witnessed a further
decline during May (see following table). The rate of cloth production
during May, when adjusted for the number of weeks, was the lowest recorded,
January 1928 being the first month for which comparable records are avail-
able. Even though the May report was for five weekss the sales were below
any month during this period from January 1928 to date. The ratio of sales
to production for May was 66.9 per cent in spite of the low level of
production. Unfilled orders decreased 23.9 per cent from April 30 to' ay 31
and are now'lower than at any time during the past 29 months. The total
production, sales and shipments of cloth for the first five months this year






; 9 -


are considerably below those of a yoer ago. Unfilled orders at the end of the
month averaged for the first five months about 92 million yards less than last
year and stocks have averaged considerably higher this year than last.

Cotton Cloth: Production, sales, shipments, and stocks and unfilled
orders at end of month in the United States, Ja:,uury-IIay,
1929-1930

:Ratio : :Ratio :
.: of :: of : Stocks :Unfilled
Month and number: Produc- : Sales :sales :Shinments:ship- : at : orders
of weeks :tion : to ::ments : end of : end of
produce : :to pro: month : month
St: : tion : :duction::
: 1,000 : 1,0O : Per : 1,000 : Per : 1,00C : 1,000
yardr ds ds : cent : yards : cent : yards :yards

Jan.1929(5 weeks): 342,8C6: 317,078: 92.5: 345,354: 100.7: 389,195: 440,585
Jan.1930(5 ): 323,287: 292,034: 90.3: 331,481: 102.5: 452,819: 391,571
Feb.1929(4 ): 292,873: 340,709: 116.3: 309,118: 105.5: 372,950: 472,176
Feb.1930(4 ): 266,849: 243,861: 91.4: 274,543: 102.9: 445,125: 360,889
Mar.1929(4 ): 297,994: 358,333: 120.2: 325,633: 109.3: 345,311: 504,876
Mar.1930(4 ): 261,403: 292,249: 111.8: 265,675: 101.6: 440,853: 387,463
Apr.1929(4 ) 283,878: 202,520: 71.3: 277,098: 97.6: 352,091: 430,298
Apr.1950(4 ) 257,243: 223,225: 86.8: 253,360: 98.5: 444,736: 357,328
May 1929( ) 341,370: 278,335: 81.5: 326,121: 95.5: 367,340: 382,512
May 19305 ): 275,801: 184,473: 66.9: 270,056: 97.9: 450,481: 271,745
5 mo.1929(22 ):1,558,921:1,4.6,975: 96.0:1,583,324: 101.6:1/365,377:/445,929
5 mo.1930(22 ):1,384,583:1,235,842: 89.3:1,395,115: 100.8:1/446,803:1/353,799
Compiled from reports of thu Association of Cotton Textile Merchants of New York.
1/ Average.

Great Britain

Cables received during May and the first week in June report the British
market for both yarn and cloth as dull. Reports during the later part of the
period give the condition as depressed with sales less than output. Exports of
yarns and piece goods during May, however, were somewhat above those during April
but were lowest for the month since 1926 in the case of piece goods and since
1921 in the case of yarns. Mill curtailment is taking place and some mills are
offering their cotton for resale. The situation in India is having a very
depressing effect.

Continental Europe 1/

Conditions in the continental cotton textile industry continued to vary
greatly during April and May, with the situation on the whole slightly less
favorable than in March. French mills maintained their previous highly satis-
factory level of operations, though business has been quieter, but in Central
lurope mill activity and new business remained unsatisfactory and even declined
little. Italy also indicated no turn from the slower tendency recently
recalling.
SBased on report dated May 21 from Agricultural Coniissioner L. V. Steere
at Berlin, supplemented by cable May 31.







C-59


- 10 -


About the only reports of a favorble character during the past'May
aside from those on he-vy consumption of cotton in France, came from the
wholescale.and retail textile trades, wihre an increased demand for fabrics
is indicated. With trade stocks of gcc:'s very moderate, particularly in
Central Europe, this is considered a favorable symptom.for the future, though
mill sales of fabrics have remained very unsatisfactory in Central Europe
during May and were quieter in Itrly end even in France. The character of
business booked by the cloth mills was reflected in corresponding orders....
plr.ced with spinners, who had very poor sales in the Central European countries,
,rather unsatisfactory-bookings in Italy and a smaller, yet ru.ther important,
volume of orders in FrCnceo..

As a result of disappointing new business in March, mills showed no
seasonal pick-up in spinning and weaving activity during April, in fact,.a
slight decline in operations is .thought to have .occurred in C(ntral European
countries. With France maintaining the high rate of activity of previous
months, however, there appcured to be no significant change in the rate of
mill activity for the Continent as a wholo, .though some further decline may'-
occur if recent dull business persists.

Spinrner demand for raw cotton hrs varied considerably in different
countries in recent weeks, but taking the Continent as a whole, has been of
very moderate character. The purchases of French spinners have been quite
satisfactory, a reflection of the good situation of the French industry, but
Centrcl European spinners have continued hesitant, buying only for the most
immedirte requirements. Price fixing has also been of moderate volume, and
dealors have shown interest in c.i.f.. iport business only to the extent of
bargain lots. Spot trade has remained snall in practically all of the con-
tinental markets during the past month.

Germany

The cotton situation in Germany, despite short-lived, scattered
betterment, remained unfavorable throughout April and MEy, with new business
very slow and mill activity declining slightly.

Spinners report that demand for yarns became even worse during April,
and also that deliveries on old contracts 'oere accepted very slowly. The
net result was a further decline in unfillc', orders. Prices obtained were
still complained of, with reports indicating that cheap foreign offers
contributed to the depression of the domestic price level. As a result
slight declines in mill activity again occurred, following a decline of 4
per cent from February to March.








C-59


11 -

Germany: Cotton yarr. and cloth prices 1/


: *______, ,1930
Item : Unit : Jan. : Feb. : Mar. : Apr. : Apr. : May : My
: : 15 : 19 : 19 : 2 : 16 : 7 : 21
:Cents :Cents :Conts :Cents :Cents :Cunts :Cents :Cents
Cotton yarn : : :
No. 20 .......: : 30 : '30 : 29: 29 : 29 : 29: 29
30 ......: : 35: : 34: 34 : 34 : 34
36 .......: 36 : 36 : 35: 35 : 35 : 34: 34
42 ....... 38 : 37 : 36 : 37 : 36 : 36 : 36
Cretonnes : : :
88 cm. ...: yd. : 11.25: 10.70: 10.42: 10.52: 10.52: 10.24: 10.24
Renforces : : : :
88 cm. ...: : 10.L: 9.83: 9.65: 9.74: 9.74: 9.46: 9.46
Kattunc Croises :::
92 cm. ...: : 8.60: 8.32: 8.14: 8.23: 8.23: 7.96: 7.96

Exchange Reports, Stuttgart.
L/ German prices of the Stuttgart Industry and Trade Exchange.


Germany: Indexes of Germah cotton yarn production
(Monthly average July 1924-June 1926 = 100) i/


Month : 1925-26 : 1926-27 : 1927-28 : 1928-29 : 1929-30


Aug . . . . 108 85 119 101 94
Sept. . .. ..: 118 99 126 101 95
Oct. ... .. ..: 117 106 122 90 104
Nov.. .. . . .: 116 : 112 : 125 : 110 : 106
Dec. . . .: 119 : 117 : 120 : 102 : 109
Jan. ..... . .: 102 115 123 107 108
Feb. . . . . . 94 : 118 : 125 : 102 : 109
Mar.. ...... ...: 85 122 121 99 105
Apr. ......... .: 76 120 116 105 :/ 104
May . . .: 69 123 113 90
June ..... . 74 : 112 : 102: 93:
July . . . ....: 70: 118: 99: 77
Average .-....... .: 96 112 118 98


German Institute for Economic Reset
l/ Revised figures.
/ Estimated, subject to revision.


arch, Berlin.








C-59


- 12 -


Weavers reported mixed.developments. The seasonal improvement of
colored cloths fell off, aund n'wt orders were generally scarce, particularly
for wash goods. Business of the grey goods mills was good during the first
half of April, but turned quiet following Easter. April *weaving mill
activity remained about on March levels, estimated -at around 72 per cent.


Germany:


Cotton weaving mill activity 1/-


Month : 1925-26 : 1926-27 :1927-28 .: 1928-29 :1929-30

: Per cent :Per cent :Per cent Per cent Per cent
.
aug. ....... -- 73..9 : 92.8 85.9 : 66.2
Sept. ......: -- 77.4 : 95.4 : 86.3 :69.5
Oct. ....... -- :82.1 : 93.4 :87.2 :72.1
Nov. .......: -- : 84.7 : 931 85.3 : 75.6
Dec. ......: -- 86.5 : 93.3 85.6 :/ 72.8
Jan. ......: 88.6 : 87.4 :93.1 :71.3 2/ 71.6
Feb. .......: 85.5 :89.3 92.6 :71.5 2/ 72.2
Iar. .......: 83.3 : 1.2 : 923 : 70.6 :2 72.0
Apr. .......: 78.7 :91.4 : 91.1 :70.8 :/ 72.0
May ........: 77.0 : 93.5 90.4 61.0 :
June .......: 73.3 : 92.9 :88.7 :64.3
July .......: 71.7 : 92.5 88.3 : 61.7

German Institute for Economic Research, Berlin.
1/ Up to December 1928, active looms in percentage of total looms in place;
since January 1929, activity in percentage of 9.hours shift capacity.
/ Estimated, subject to revision.


TImports of cotton yarn for April were 679,000 pounds below March and
922,,000 pounds below February. Yarn imports for both March and April were
the longest for the respective months since 1926. Imports of woven cotton
materials were also low during April, being 192,000 pounds below March,
287,000 pounds below April last year and below the corresponding month
since 1926.


'C.* *. .









C-59


- 13 -


Cermany: Imports of cotton yarn and woven materials.

: Cotton yarn 1 : Woven cotton 'materials 2/
Monthll925- :1926- :1927- :'1928- :1929- :1925- :1926- :1927- :1928- :1329-
:-26 : 27 : 28 : 29 : 30 : 26 : 27 : 28. : 29 : 30
:1,00.0 :1,000 :1,000 :l,u00 :1,000 :1,000 :1,000 :1,000 :1,OCO :'1,000
:punds: pounds :pounds :p6unds:poundspounds:pounds:pounds:pounds:pounds
,
OuI *~ ~ *d *pun *~


Aug. :
Sept.:
Oct.
Nov. :
Dec. :
Jan.
Feb :
Mar.
Apr. :
-May :
June
July :


--:
--: .

5,772:
5,154:
4,899:
4,140:
3,554:
4,638:
3,988:


3,962:
4,500:
4,599:
5,657:
5,617:
6,931:
8,400:
10,384:
13,488:
12,509:.-
13,294:
12.328:


14,240:
13,962:-
13,514:
12,840:
12,879:
13,252:
11,409:
10,657:
10,154:
8,823:
8,093:
7.502:


7,046:
7,286r
7,842.'
8,082:
6,676:'
8,027:
6,303:
7,147:
6,327:
6,259:
5,271:
5,780:


6,583:
4,921:
5,210:
5,600:
5,410:
5,666:
6,354:
6,111:
5,432:


3,333:
2,846:
1,984:
1,351:
1,142:
1,142:
787:


Total: :101,669:137,325:82,046: .

Official Foreign Trade Statistics.
j/ No. 440 No. 444 of the German Duty Register.
2/ No. 453a- No. 457d2.


787:
794:
1,380:
990:
1,063:
1,594:
2,943:
3,671:-
3,995:'
4,687:
4,824:
4.694:


4,277:
5,355:
5,620:
5,758:
5,373:
5,959:
4,363:
4';403:-
3,530:
2,650:
2,092:
2,255:


1,455.~
1,534:
2,015:-
1,728:
1,576:
2,097.i
1,728:
1,757:
1,755:
1,499:
1,534:
1,356:


1,358:


:31,422:51,635:20,034:
* : : :


Conditions in the wholesale anrd retail trade were not particularly
good during April, and the increase in :.arch sales was maintained only to a
limited extent. However, the very moderate size of stocks in converters and
distributors hands, as well as easy noney conditions are regarded as favor-
able factors for the future. Financial conditions in the textile trades are
still unsatisfactory, with a considerable number of trade failures and
individual difficulties of mills still being reported, but the worst is
considered past.

Czechoslovakia

Czechoslovakian cotton reports continued unsatisfactory during Lpril
and much the same as in March. Unfavorable prices for cotton goods, unsatis-
factory new bookings and declining activity of the industry, still make the
immediate outlook rather unpromising. However, it may be seen from the
following table that while the exports of both yarn and fabrics during the
first quarter of 1930 are considerably below the last quarter of 1929 there
was some improvement during February and March and exports of yarn since
January compare very favorably with a like period a year ago.

fI


1,164
1,254
1,484
1,581
1,358
1,371
1,530
1,660
1,468


qL






C-59 -14-


Czechoslovakia: Exports of cotton yarn and cotton fabrics

Cotton yarn,unbleached ./ -: Cotton fabrics of all kinds 2/
Month:1925- :1926- :1927-.:1928- :19F9- :19.I2.5- .:1926-. :1927- :1928 -:1929-
: 26 27 : 28 : 29 .: ... 2:- *. 27 .: 28 : 29 : 30
:1,000 :1,000 :1,000 :1,000 :,oo000 ,000 :1,000 :1,000 :1,000 :1,000
:pound s:pounds: pounds: pounds .pQunds .pounxs: pounds; pounds: pounds:pounds

Aug. --: 3,252: 5,373: 3,569: 4' 198; --: 6,903: 9,105: 7,476: 8,342
Sept.:: --: 3,038: 5,262:-3,435:3,865:- --: 7,374:11,087: 9,553: 8,247
Oct. :; --: 3'3009 4,687:'4,261:-4, 173: --: 7,571: 9,224: 8,655: 8,763
Nov. : ....-:-3,576: 4,797:;3 9E6::4,462: --: 6,971: 8,150: 6,656: 6,997
Dec, : .-:;3,311: 5,165: .4,872: 5,062: -- 6,508: 8,437: 7,612: 7,474
Jan. : 2,92: 3,624: 4,200: 4,105: 3,926: 6,164: 6,382: 6,508: 5,776: 5,743
Feb. :2,619: 4,850:.4,453::3,095: 4,200: 6,812::7,498: 7,127: 5,582: 5,851
Mar. ::2,835: 5,604: 5,441:-4,374:'4,883: 8,247:"8,232: 8,638: 7,515: 6,537
Apr. :-2,440::5,736: 3,801: 4,837: / : 6,076: 7,743: 6,047: 7,829: 3/
May : 2,286: 5,64: 3,761: :3,560: : 4-43: 6,479: 5,787: 6,325:
June :.2,041: 6,345: 3,812: .4,015: :.4,747: 7,496: 5,240: 6,173:
July : 2,560: 5,1342: 3,351: :3,812: ;-5,579:-6,552: 6,312: 6,362:
Total: :53,651:53,103:47,831: 1 : :85,709:91,662:85,514:
: :
Official Foreign Trade Statistics.
l/ No. 501 504 of the Czechoslovakian Duty Register.
2/ No. 527 577 "
3/ Estimated to be about the same as March.

January is the last month for which official reports have been received
on spinning mill activity, but trade reports for February indicated some
decline, while subsequent reports have indicated little change. It is
significant to note that throughout most of the season 1929-30 the spinning
mill activity has been below similar periods for the two preceding seasons.






C-59 15 -



Czechoslovakia: Cotton spinning nill. activity
(In percentage of single shift capacity)

Basis spindle hours. Basis active spindles.Activity of active spindles
Month: 1926-:1927- :1928-:1929- :1926-:1927-:1928-:1929-:1926-:1927-:1928-41929-
: 27 : 28 : 29 : 30: 27 : 28 : 29 30 : 27 28 : 29 :30
: Per : Per : Per : Per : Per: erPer er : Per : Per : Per : Per : Per
: cent. cent: cent: cent: cent: cent: cent: cent: cent: cent: cent: cent
S: : : : : : :
Aug : 63 : 107 : 87:j/ 88: 75 94: 89:/ 85: 83: 134: 98:1/104
Sept.: 70 115 : 93:2/ 90: 76: 95: 90:2/ 85: 91: 121: 103:2/106
Oct. : 80 : 114 : 98:3/ 89: 80: 95: 91:3/ 85: 101: 120: 108:3/104
Nov. : 90 :111 : 107:4/ 95: 86: 96: 91:4/ 87: 105: 116: 117:4/110
Dec. : 97 : 111 : 104:5 94: 87:: 96: 92:5/ 87: 110: 116: 113:5/109
Jan. : 98 : 110 : 101:6/ 94: 87: 96: 91:6/ 87: 113: 115: 111:6/108
Feb. : 101 : 109 : 100:/ 93: 90: 95: 91:7/ 86: 112: 115: 110:7/107
Mar. : 105 : 108 : 99:2/ 93: 91: 94: 90:7/ 86: 115: 114: 110:7/107
Apr. : 108 : 105 : 100:2/ 93: 93: 93: 90:7/ 86: 116: 112: 110:_/107
May : 110 : 100 : 95: : 93: 95: 88: : 118: 105: 108:
June : 110 : 95 : 94: : 94: 90: 88: : 118: 105: 107:
: (8/ 81 : : :(8/87: : : :(8/93
July : 103 : 80 :(9/89: : 93: 9u:(/87: : 111: 89:(9/102

Compiled from reports of the Genman General Textile Association.
/ August 10 September 7. 5 December 2 December 28.
_/ September 8 October 5. / December 29 January 25.
/ October 6 November 2. 7/ Estimated: subject to revision.
4/ November 3 November 30. 8/ June 15 July 7.
9/ July 14 -ugust 10.

Austria

Conditions in the L-ustrian cotton textile industry have remained rather
unfavorable since February, the last uonth for which actual figures on spinning
mill occupation are available. However, sales of spinners and weavers have
recently shown a slight tendency to improve and the general feeling is now
better, largely because of a more promising outlook for general economic
developments in the country. The government, in addition, plans increases
in the import duties for fabrics in order to develop the weaving branch of the
industry, a measure from which the spinning branch will profit in the long run.
From the following table it may be seen that the activity in the spinning mills
for this season through April has been below both the 1927-28 and the 1928-29
seasons and that the estimates for March and April are below the corresponding
months for all years since 1923-24.






- 16 -


Austria: Cotton spinning mill activity
(Percentage of "full capacity") 1/


Month :1922-23:1923-24:1924-25:1925-26:1926-27:1927-28:1928-29:1929-30

: Per : Per : Per : Per : Per : Per: Per : Per.
: cent :. neit : cent : cent : cent: 'cent : cent : cent

Aug. .........: -- : 59: 57: 76: 57: 90: 76: 73
Sept. ......: : 63: 68: 79:. 60: 85: 75:. 76
Oct. .......: : 63: 70: 83: 65: 85: 79: 76
Nov. .......: -- : 64: 69: 91:. 76: 83: 74: 77
Dec. .......: -- 66: .78: 87:. 75: 82: 80: 78
Jan, ......: 55: 70: 77: 81: 75: 83: 82: 81
Feb. .......: 57: 70: 80: 85: 79: 81: 83: 75
Mar. .......: 59 74.: 75: 79: 82: 81: 84:2/ 73
Apr. .......: 59: 72: 75: 75: 86: 78: 84:-/ 7,
May ........ 58: 67: 70: 67: 85: 73: 80:
June .......: 62: 64: 76: 62: 82: 76: 74:
July .......: 59: 66: 79: 72: 87: 73: 73:
_:o l .trcmr::"o:t:o


uompiled.from reports of
l/ "Full capacity" means
2/ Estimated, subject to


the Austrian Institute for Economic Research.
about 125 per cent of post-war single shift capacity.
revision.


The accompanying table shows considerable improvement in the exports of
yarn to Gerrm-r.y during the first four months of 1930 though the total for the
season up tr.-.yugh May is about 413,000 pounds below the same period last season
and much further below the same period in the seasons 1926-27 "nd 1927-28.

Austria: Exports of cotton yarn to Germany l/

Month : 1925-26 :1926-27 : 1927-28 : 1928-29 :1929-30
a a
:1,000 pounds :1,000 pounds :1,000 pounds :1,000 pounds :1000 pounds

Aug. .......: : 139 551 201 73
Sept. ......: : 165 : 317 176 : 37
Oct, .......: 132 : 245 :157 29
Nov. .......: :148. :240 : 134 95
Dec .......: : 159 :223 :214 :66
Jan. ,......: 664 :243 : 163 101 :84
Feb. .......: 494 : 476 : 260 88 104
Mar. ...... 331 :558 : 220 73 : 128
Apr. .......: 331 :694 :203 :106 : 121
May ........: 243 : 624 : 340 :84
June ......: 203 : 456 243 : 40
July .......: 194 355 : 293 : 112
Total ...: 4,149 : 3,298 : 1,486
Compiled from official foreign trade statistics.


1/ Five representative positions, i.
register.


e. sections 440 a-e


of the German duty


C-59









- 17 -r


Hungary

Conditions in Hungary remain unfavorable, Yarn business during
April and the first half of May 'ws r..ther quiet, following an active period
in March, but now sales of fabrics continued very.good,. The occup-tion of
the mills is very satisfactory *,nd developments in raw cotton prices recently
caused spinners to make commitments in raw cotton for some months theud.
The outlook remains promising.

France

April and first half of :iay reports from the French cotton industry
indicate maintenance of previous high levels of spinning and weaving activity,
though current business was reported rather quiet and hesitant, owing to
uncertainty on the raw cotton market.

New sales of cotton yarn w-ere unsatisfactory at Roubaix-Tourcoing, where
an unchanged level of production resulted in a slight increase of yarn stocks
in spinners' hands. A sounder situation existed in the Norman yarn market,
where busi-ndss was likewise reduced.

Business in fabrics w'as calm during the second half of April, but
improved at the end of the r.onth and early in May as a result of better
wholesaler demand from Paris and western districts of France. Some interest
in fabrics has been shown also by the export trade for business with Morocco
and Algeria.

Spinner buying of raw cotton proved quite satisfactory throughout
the past month aith some price-fixing registered.

Italy

The continued depressed condition in the European cotton industry
outside of France is also being felt i- Italy, where orders aro coming in
slowly and mill activity tending to slackcn somewha.t, and sales activity
continued to recede through May. The following table indicates that ran
cotton consumption is still proceeding at a relatively high rate, however,
and improvement is expected as soon as more certainty develops in the raw
cotton market. January is the list month for which official figures on mill
activity have been received, but reports since then have indicated that there
has been a little slackening up rith March and April about the same.


C-59






C-59


18 -


Italy: Cotton spinning and weaving mill activity


:. Spinning mill activity 1/ Weaving mill activity /
Month :
:1927-28 : 1928-29 : 1929-30 : 1927-28 1928-29 1929-30
: Per cent : Per cent : Per cent : Per cent : Per cent : Per cent

Aug......: -- 90.9 : 93.1 : -- : 85.6 88.6
Sept. ....: -- 92.7 : 94.2 :- 86,2 89.8
Oct.......: -- 94.5 : 95.3 : 87.9 89.8
Nov. .....: -- 95.5 :/ 95.0 90.7 :/ 89.5
Dec. ....: --: 96.6 : 95.5 : 92.3 : 90.6
Jan. .....: -- : 95.9 : 93.4 : -- 91.5 : 89.1
Feb. .....: 93.0 : 95.8 :3/ 93.0 : 89.3 : 91.2 :3 88,8
Mar. .....: 91.8 : 96.3 :/ 92.5 : 89.1 : 91.9 :/ 88.5
Apr. .....: 92.5 : 95.2 :3/ 92.5 : 89.0 : 92.5 :/ 88.5
May ......: 94.7 : 96.2 : : 88.6 92.0
June .....: 91.7 94.3 : : 85.4 91.0
July .....: 91.1 : 92.6 : : 85.1 90.7
: :


Compiled from Bolletino Mensile


di Statistics del Regno d'Italia.


1/ Spinning activity in perce~tuge of full capacity, basis spindle hours.
2/ Weaving activity in per~o3tg of full c-pacity, basis loon houre...
/ Estimated, subject to revision.

Belgium

Reports from Belgium indicate that yarn stocks in the hands of spinners
are showing a tendency to increase, as a result of slow sales, both domestic
and for export. The situation in the weaving section is similarly unsatis-
factory.

Poland

Reports from Poland continue to indicate that the peak of the crisis in
theacotton industry was reached during the first quarter of 1930, with indica-
tions that some improvement may be expected in the near future, as a result of
the reorganization of production and the approaching season for summer goods.
It is apparent that production of mills has now boon brought more into line
with sales possibilities. Recent reports indicate further substantial
organized curtailment of output following reductions during 1929, as is shown
by the figures given below.


I






C-59 19 -


Activity of Polish cotton spinning industry,
1929

Week ended Million spindle hours

Jan. 20 ........... ............ 105
Feb. 17 .. ................ .... 101
1,4r. 17 ........ ............... 95
Apr. 21 ................... ... 91
IMay 19 ....... ........ S....... 74
June 16 ....................... 61
July 14 ....................... 56
Aug. 18 .......... ............. 65
Sept. 15 ....................... '75
Oct. 27 ................... 74
Nov. 17 ........ ............ 70
Dec. 22 ...................... 68

First quarter, 1930 substantially lower

The financial position of the Polish cotton textile industry still
remains very much strained, however, as the number of failures aInd receiver-
ships, continues high. .'While uncontrolled over-production was probably the
principal ciuse of tVe rt;cunt crisis, it is evident that shortage of working
capital in nost of the Polish mills, as well as heavy investment in plants
in the past two or three years, have had an important part in the difficulties
of the industry. The recent grant of 15 million Zloty ($1,681,000) to members
of the newly formed Yarn Cartel by the Bank of Poland is expected to be a big
help to the industry, which seems to be making a genuine effort to effect some
organization of output. The hosiery manufacturing branch of the industry
has now been organized.

Reports of cheap Russian fabrics on the Lodz market continue, but
these are regarded as more of an annoyance than as really dangerous competition.

Japan

The cotton situation in Japan shows no considerable improvement although
production of yarn and consumption of American cotton increased in April accord-
ing to a cable dated May 22 received from Consul Dickover at Kobe. Yarn
production for April was 227,000 bales, an increase of 8,000 over March. The
prices of yarn are weak and mills are trying to reach an agreement on further
restriction of output by 5 per cent. Cloth production in mills is maintained
at abcut 130,000,000 yards monthly but exports in "pril dropped to 131,000,000
square yards due to the higher Indian tariff and the low value of silver in
China. Imports of jLerican cotton during April amounted to about 110,000 bales.
Imports so far this cotton year are 223,000 bales under the previous cotton year,
but mills have produced 173,000 bales more yarn the first eight months of this
cotton year than in the same period last cotton year, indicating that stocks
of American cotton are very low. At the same time mills claim to have stocks
of American cotton in Japan or afl.r4it iiffjicjint to carry them until the latter
half of August while merNh:Nntr.t have stocks of about 125,000 bales. Japanese





C-59 20 -


mill consumption is running at about 90,000 bales northly. If merchants
and mills decide to carry their'usual stocks further, purchases this cotton
year should be around 300,000 bales, Cheaper grade of Lnerican cotton mostly
under 7/8" staple is demanded.at this time by mills. The strikes in some
of the Kanega Fuchi mills hve -been settled, but in others. they still
continue. The Japanese Cotton Trading Company's Financial condition is
being adjusted and it will continue business but probably on a smaller scale
and more conservatively. ..

China *

According to cabled inf6ihatibn from Agricultural Commissioner Nyhus,
stationed at Shanghai, the renbiil of civil strife together with widespread
banditry and'insecurity in the Ihterior has slowed- up- the market for cotton
yarn. Stocks in Chinese nill's are' lgrge but mill owners do not feel that
the situation warrants a reduct'ioh in mill operations.. Yarn prices have
dropped to levels in relation t"c "th'e pTice of raw cotton which will hardly
permit an operating profit, but mill' o'wn'es express confidence in an early
victory by the Nanking government which will restore distribution and
improve yarn prices. Native cottio prices are .56 cents per pound higher
than last season while yarn quotations are $3.73 per bale lower than in May
last year. The local cotton market continues quiet with mills generally
well supplied with native and Indian staple. Anple rainfall in April at
the present time has enabled the local cotton crop to get an early start.
Considerable cotton was planted broadcast in wheat fields before the wheat was
harvested and good stands are reported in the vicinity of Shanghai.

Business in American cotton is temporarily quiet but the Japanese
section of the industry continues to be heavy users. Japanese mills are
sold out up to LAugust. _american new crop quotations are materially less
than current prices and mills will buy as sparingly as possible but since
local stocks of American cotton are very low it is expected that Japanese
mills must soon resume buying for June and July shipments.

Troubles in the interior and still lower levels in the silver exchange
have added to the difficulties of the foreign piece goods market. Business
in general is very slow. The following are quotations for Mly 20, cotton
Hankow standard cotton June delivery 9.84 cents per pound, American middling
7/8' inch May shipment cost, insurance and freight 15.10 cents per pound,
standard sixteen count yarn June delivery $56.75 per bale.

PRODUCTION, ACREAGE iATD CROP CONDITION REPORTS

World production

The following table shows the revised estimated world production of
cotton, for the past 30 years, the production in the principal cotton-
producing.countries for as many years as comparable figures are obtainable
together with the estimated commercial ciop in the world since 1909-10:







- 21 -


COTTON: World production of lint, 1900-01 to 1929-30

:Estimut-: Estimit-: Principal producing countries :Estimat-
:od world:ed world: : : :ed world
Year : total, : total, :United': India :Egypt :China :Brazil:Russia:total com-
: excl. : incl. :States : : : (si- :morcial
: China : China : : : : : :atic) :crop 2/
: 1,000 : 1,000 : 1,000 : 1,000 :1,000 :1,000 :1,000 :1,000 :1,000
:b:lees /:bales /:bales 3/bulus3: bales3: ba1les3: bales3: bales3:bales4/
1900-01 ..: 14,800 : : 10,123: 2,471 : 1,126: : : :
1901-02 ..: 14,200 : : 9,510: 2,97 : 1,320: :197 :
1902-03 ..: 15,900 : : 10,631: 2,818 : 1,210: 315 :
1903-04 ... 15,100 : : 9,851: 2,645 : 1,349: 294 :
1904-05 ..: 19,300 : : 13,438: 3,172 : 1,308: : 324
1905-06 ..: 16,100 : : 10,575; 2,859 : 1,235: 438 :
1906-07 ..: 20,300 : : 13,274: 4,129 : 1,440: 418
1907-08 ..: 16,500 : : 11,107: 2,613 : 1,499: : 277 : :5/16,512
1908-09 ..: 19,100 : : 13,22: 3,090 : 1,399: : 318 : :19,698
1909-10 ..: 16,900 : : 10,005: 3,998 : 1,036: : 324 : :/16,241
1910-11 .. 18,400 : : 11,609: 3,254 : 1,555: : 357 : :/18,027
1911-12 ..: 21,900 : : 15,693: 2,730 : 1,530: : 360 : :/21,269
1912-13 ..: 21,100 : : 13,703: 3,702 : 1,554: : 418 : :/20,976
1913-14 .: 22,200 : : 14,156: 4,239 : 1,588: : 477 : :/21,618
1914-15 ..: 24,200 : : 16,135: 4,359 : 1,337: :465 : 1,270:5/23,768
1915-16 ..: 17,800 : : 11,192: 3,128 : 989: : 339 : 1,512:j/17,649
1916-17 ..: 18,366 : 19,900 : 11,450: 3,759 : 1,048:1,534 : 337 : 1,199:j/18,092
1917-18 ..: 17,608 : 19,700 : 11,302: 3,393 : 1,304:2,092 : 414 : 634:5/18,140
1918-19 ..: 17,841 : 20,900 : 12,041: 3,328 : 999:3,059 : 406 : 161:t/18,755
1919-20 ..: 18,782 : 21,300 : 11,421: 4,853 : 1,155:2,518 : 461 : 81:/20,220
1920-21 ..: 19,217 : 21,100 : 13,440: 3,013 : 1,251:1,883 : 476 : 58:3/19,665
1921-22 ..: 13,886 : 15,400 : 7,954: 3,753 : 902:1,514 : 504 : 43:3/15,334
1922-23 ..: 16,982 : 19,300 : 9,755: 4,247 : 1,391:2,318 : 553 : 55: 17,926
1923-24 ..: 17,707 : 19,700 : 10,140: 4,320 : 1,353:1,993 : 576 : 196: 19,036
1924-25 ..: 22,622 : 24,800 : 13,168: 5,095 : 1,507:2,178 : 605 : 453: 23,836
1925-26 ..: 25,798 : 27,900 : 16,104: 5,201 : 1,629:2,192 : 602 : 782: 26,678
1926-27 ..: 26,658 : 28,400 : 17,977: 4,205 : 1,586:1,742 : 512 : 773: 27,812
1927-28 ..: 22,125 : 24,000 : 12,955: 4,990 : 1,261:1,875 : 505 : 994: 23,370
1928-29 ..: 24,256 : 26,100 : 14,478: 4,747 : 1,672:1,844 : 553 : 1,135: 25,611
1929-30 6/: : 26,200 : 14,828: 4,402 : 1,725: : 1,351:
Division of Statistical and Historical Research. Compiled from official sources
and International Institute of Agriculture unless otherwise stated. Data for crop
year as given are for crops harvested between i.ug. 1 and July 31 of the following
year. For the United States pri)r to 1914 the figures apply to the year begirming
September 1,
1/ Chinese Cotton Mill Owners' Association. Figures represent the crop in the
most important cotton-producing provinces where the commercial crop is growm.
Most of the cotton produced in other provinces is used for home hand-loom
consumption. 2/ Figures as reported by the United States Bureau of the Census,
including the cotton destined to enter connercial channels for factory purposes.
Estimates of the commercial crop in China are included. 3/ Bales of 478 pounds net.
4/ American in running bles and foreign cotton in bales of 478 pounds net.
V/ Bales of 500 pounds net. / PrLllnin&ry.
b*- *;_ .;.i .






C0-59 22 .


The crop for the 1929-30 season is now estimated to be 26,200,000
bales of 478 pounds net for all countries including Chinh. See page 566,
Foreign, Crops arid Markets- issue of February. 14 for production by countries.
This world totJ.l exceeds-last season's crop by 100,000 bales, but is smaller
than the 1925-26 and 1926-27 crops by 1,700,"-00 bales and 2,200,000 bales
respectively. -The United States produced about 57 per cent of the entire
'crop for all countries including China for the past season.

In 1900-01 the United States crop was 68-per cent of the warld total,
excluding China, the same average .s for the five-year period 1900-01 to
1904-05. This average production decreased to 62 per cent of the total
for all countries excluding Chint for the five-year period 1924-25 to 1928-29,
the crop being only 59 per cent of the total in 1927-28 and-60 per cent in
1928-29.

.India produced 17 per cent of the entire crop, excluding China, fto
the 5-year period 1900-01 to 1904-05 the same percentage of the total crop .
as in 1900-01. The'Indian crop ranged from 12 to 24 per cent of the total
for the following 6 years; 12 per cent in 1911-12; 20 per cent in 1916-17;
26 per. cent in 1919-20 and 27 per cent-in 1921-22. The production.for-the
five years 1924-25 to 1928-29 was only 20 per cent.of the total produced in
all countries (excluding China) this low average being caused partially by-
a decrease of almost a million bales in its own crop and the increase in the
United States crop. The Egyptian crop has remained from 6 per cent to 9
per cent of the total for all countries, excluding China for the past 29 years.


United States


The Crop Reporting Board of the United .States Department of Agriculture,
from the reports and data furnished by crop correspondents, field statistiaians,
cooperating State Boards (or Departments) of Agriculture Lnd .Agricultural.
Colleges, and Census reported innings makes the following revised estimates
of the COTTON CROP of 1929.
'*


: i





C-59


23 -


Revised estimates of the cotton crop of lt99, by States


: Yield of : :innings
: Area in : Area :lint cot- :Production:1929 crop as
State :cultivation: picked :ton picked: 1929 1/ :reported by
: July 1, :1920 : per acro : :Census May
: 1929 : 1929 : 1, 1930
: Acres : Acrus Pounds :B.les(500 :Bals (500
: : : :lbs.gross):lbs. gross)

Virginia .........: 89,000 : 88,000 : 258 : 48,000 : 47,527
N. Carolina ......: 1,916,000 : 1,878,000 : 190 : 717,000 : 747,208
S. Carolina ......: 2,273,000 : 2,216,000 : 179 : 830,000 : 830,055
Georgia ..........: 3,818,000 : 3,753,000 : 171 :1,343,000 1,342,643
Florida ..........: 96,000 : 94,000 : 145 : 29,000 : 28,578

Missouri .........: 348,000 : 341,000 : 308 : 220,000 : 219,932
Tennessee ........: 1,147,000 : 1,136,000 : 217 : 515,000 : 515,774
Alabama ..........: 3,727,000 : 3,690,000 : 174 :1,342,000 : 1,341,550
Mississippi ......: 4,229,000 : 4,166,000 : 220 :1,915,000 : 1,915,430
Louisiana ........: 2,135,000 : 2,114,000 : 183 : 809,000 : 808,825
Texas ............:18,229,000 :17,500,000 : 108 :3,910,000 : 3,941,626

Oklahoma ........: 4,430,000 : 4,275,000 i 128 :1,13,000 : 1,142;666
Arkansas .........: 3,933,000 : 3,858,000 : 178 :1,435,000 : 1,434,660
New Mexico .......: 132,000 : 130,000 : 333 : 90,000 : 88,450
Arizona ..........: 227,000 :/ 226,000 2/ 324 :/153,000 : 152,839
California .......: 319,000 : 309,000 : 402 : 260,000 : 259,647
All other .......: 19,000 : 19,000 227 : 9,000 : 8,539

United States : : :
total .........:47,067,000 :45,793,000 : 155.0 :1z,828,000:14,825,949
Lower California : : : :
(Old Mexico) j .: 151,000 : 147,000 : 244 75,0004/ 75,056
*
_ urn .. ______ _


L Bales rounded to thousands, allowances nmde
assed for United States total.


for cross State innings ana


_/ Including Pima long staple, 67,000 acres, yield 211 pounds per acre, pro-
duction 30,000 bales.
/ Not included in California figures, NOR in United States total.
/ Innings 73,763 running bales, js enumerated by California Cooperative
Crop Reporting Service.

The following is a condensed statement of the weather conditions in
the cotton belt during May .An the first three days in June as reported by
the Weather Bureau of the Department of agriculture.

The western part of the belt during the first half of the period was
generally a little too wet with the week cnded Mby 20 very unfavorable on account
of excessive rains. The moisture during the lust two weeks of the period unded
June 3 aas favorable with the tieapurature a little too low for good growth.





C-59 k4 ` ":

Except for the first two weeks which were rather favorable, the
central part of the belt has been generally slightly too wet with the
temperature favorable.

The eastern belt.-was .considerably too dry throughout this period
except for the week ended May.27 during which helpful showers were reported
in most sections". The temperature was fairly favorable the first half of
the period, but little too cool the last half.

Fertilizer tag sales in the nine important cotton producing States
;.as reported by thd National Fertilizer Association from December through
jeay show an increase of about 1 per cent above the corresponding period a
year ago and were about the same as.for this period two years ago. The
total for the six months ended I.ay i930 *as 4.,315,137 short tons,'sac e period
-a year ago 4,284,747 tons and two years ago 4,337,099 tors. '



The production of ginned cotton in Egypt for the socsoh 1929-30 is
Estimated at 1,725,000 beles of 478'pounds net according to ripblts' received
;from the International Institute of Agriculture at Rome. Of thit 558,000
-bales are of the Sakellaridis variety while the'remaining 1,167,000 bales are
of other varieties. At the same time last season the crop was'estimated to
;be 1,628,000 bales of 478 pounds net, 526,000 bales of Sakell&riais and
,1,102,000 bales of other varieties.. The final estimate of the Egyptian Depart-
,ment of Agriculture for the 1929-30 crop'was 1,672,000 bales bf 478 pounds net, !

-Soviet Russia'/ /
-C

The Soviet press is showing distinct signs of anxiety in consequence
of the slow development of the cotton planting campaign. According to an
official report, only about 50 per cent of the "planned" area was sown to
.cotton by Tay' 10 and sowing should have been nearly completed by that time.
Later information-indicated that the rate of planting in Central Asia improved
'greatly during the second ten days of the month,. Local organizations haveT
, complained that unfavorable weather conditions hampered planting.

Extreme shortage of feedstuffs, neglect of the individual cotton grower s
.-poor preparatory work and poor distribution of wheat are given as the chief
.causes for the slow rate of planting. The rich peasants are reported to be
making strenuous efforts to bring about a reduction-of the acreage under cotton
and are hampering cotton growers in th.3 execution ot their plans.

It will be remembered that the Government plans for the 1930 cotton cre
age called for an increase of 50 per cent and an increase of the commercial
,outturn of.75 per cent, according to Government plans. The crop-is now
admitted to have been rather poor last year. Even if the recently announced
..tax alleviations and strenuous efforts of the Government should bring about
Ca 100 per cent execution of the plan, the late plantings run the risk of
early frost damage and unfavorable maturing conditions. Even if this-.year's
plans are not fully executed the 1930 acreage under cotton may still Ibe
.Ij Mr. Steere's report.


~r---







- 25 -


considerably above that of the previous year. The Inturn-tional Institute
of Agriculture at Rome gives the latest acruzigo for Russia for the season
1929-30 as 2,560,000 icres.

Sudan

Cotton production in Anglo-Egyptin Sudan is noJ estimated to be
137,359 bales of 478 pounds not, according to a cable ruccived from the
International Institute of Agriculture -t Rome. This is a decrease of
4,388 balus under last season's crop of 141,747 bales.

Uganda

The present crop in Uganda is noai estim-ted to be 100,412 bles of
478 pounds not according to the Intern-tional Institute. The crop last
year w'vs estimated to be 164,000 bales.

Nigeria

In Nigeria the crop is estimated .t 53,-69 bales of 478 pounds net
as compared with 28,452 bales last season.

MI'CELL.MEOUS NEITS

The Cotton advisory Co:nmittee has met and -ftur a thorough study re-
ported to the Federal Farm Board that there is c-n emergency in the J.mericun
cotton market requiring a stabilization oper-tion such as is contemplated in
section 9, paragraph (d) of the Agricultural ..urketing Act. The committee
suggested that this function should be perform-ed by corporation other than
the ismericdn Cotton Cooperative .scoci..tion. Accor'iingly, the cotton co-
operatives have taken stcns to set up a new nonstick corpor-tion to be known
as the Cotton Stabilizat <4 Corporatinn. .rticlus of incorporation were
filed in Delaware.

A bill, H. R. 12167, by Representative Vinson of Georgia, to amend the
United States Cotton Futures A'-ct. of ,u;ust 11, 1916, as amended, to provide
for the prevention and removal of obstructions and burdens upon interstate
cornerce in cotton by further regulating tr-ns.ctions on cotton-futures ex-
changes and for other purposes, was referred to the committee on Agriculture
and ordered to be printed IMy 5.

A joint resolution, L. J. Ros. 2bx by reprc:suatative Larsen of Georgia
to authorize and direct the Secretary of Agriculture to provide LdditionUl
facilities for the classification of cotton under thu United States Cotton
Standards Act, <.nd for the dissemination of m r:et nuv.s inforamLtion was
referred to the Cor.nittec on Agriculture and ordered to be printed IMy 28.


C-59




UNIVERSITY OF FLORIDA
.. 1111 rhII IIII II lllrII ll lilHll111 11111 1
3 1262 08863 1287


Announcement hap recently been mn & that a new variety of i|
been developed at the United States field station, Sacaton Arizona ,
crossing Pima, the long-staple variety of Egyptian type grovm in A.i W
Sakel, the best of the varieties gro;m extensively in Egypt .. t hU b
abundantly demonstrated, both in Arizona ind in Egypt, that PX1a is bef
than Sakel in type of plant, productivity, size of bolls, at -le gth'of..
but Sakel is believed to be. bmewhat superior in strength of the l~it:
the manufactured yarn. Evidently, a combination of the best. fat.
both varieties would give a very desirable cotton.







U.S. DEPOSIT .:
U.S. DEPOSIT(


:.. i
:,: .. E:


t.:."


. ...; ; .. ... .
*lX|
"'%


I;.

L iE:


:


r
':


:



.I-,