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UNITED STATES DEPARTMENT OF AGRICULTURE BUREAU OF AGRICULTURAL ECONOMICS MARKET NEWS SERVICE MONTHLY EVAPORATED AND CONDENSED VILK MARKET REPORT TAuGuST 1347 No. 10 WASH I NTON, D.C AAJGU sT 22, 1934 INFORMATION IN THIS MONTH'S ..RPORT IS FURNtISHFED BY ALL FIRMS OF RECORD WHICH MANUFACTURE CASE GOODS EVAPORATED MILK OR CONDEN;:EED MILK, OR BOTH. PRICES PAID PRODUCERS FOR 3.51 M GEOGRAPHIC SECTIONS NEW ENGLAND MIDDLE ATLANTIC** SOUTH ATLANTIC E. NORTH CENTRAL W. NORTH CENTRAL SOUTH CENTRAL NUMBER OF FACTORIES RE.DORTING LK F. 0. 5. FACTORY FOR AUGUST 1934* PRICE PER CWT. RANGE AVERAGE 1. 1 1.20 1- 1.160 1.20 NORTH WESTERN I 1.05 1.05 SOUTH WESTERN I 0.88 0.88 U.S. AUG. 1534 5 .- .-2 1.10 U.S. JULY 1934** 13-, 0.25-1.50 1.09 U.S. AU_ 1_33 83 0.4_-1.30 1.10 **133 ADDITIONAL FACTORIES REPORTED PRICES NOT AVAILABLE AS YCT, OR TO BE BASED IN PART ON THE CURRE:,T MONTH'S WHOLESALE BUTTER OR BUTTER ,rj'D CHEESE QUOTATIONS, 17 OF THESE BEING LOCATED IN N.Y. AND PA. 36 RE:'ORTED PLANT'; CLOSED. NO PRICE INFOR- MATION RECEIVED FROM REMAINING FIF :S. AVERAGE PRICES SHOWN FOR THE UNITED STATES DO NOT INCLUDE ANY OF THE'iE FACTOr- IE. SUBJECT TO REVISION. *** REVISED. PRICES PAID PROD':CERS FCR -3.5 ;ILKLR F B. FACTORY FOR JULY 1934 THE FOLLOWING REVISED PRICES PAID FOR JULY MILK INCLUDE PRICES PUBLISHED LAST MONTH, AND THOSE LATER; REPORTED BY OTHER FIRMS. _______ NUMBER OF FACTORIES PRICE PER CWT. GEOGRAPHIC SECTIONS RPOGEAGE REPORTING RANGE AVERAGE NEW ENGLAND $ $ - MIDDLE ATLANTIC 8 I.16-1.50 1.29 SOUTH ATLANTIC 2 0.98-1.05 1.02 E. NORTH CENTRAL 83 1.03-1.30 1.11 W. NORTH CENTRAL 9 0.98-1.13 1.07 SOUTH CENTRAL 9 0.08-.01 0.99 NORTH WESTERN 10 0.8F-1.03 0.96 SOUTH WESTERN 19 C.85-1.17 1.06 U.S JULY 1934 [RFVISED) 133 0.85- 1.50 1.09 PRICES PAID PRODUCERS ACCORDING TO GEOGRAPHIC SECTIONS OUTLINED IN EVAPORAT- ED MILK MARKETING AGREEMENT. 1 JULY 1934 - I. SECTION I 2 11 p 3 i 4 5 U S _ II. AVER.G U.S. AvER.*G: $ 1 1 1 1.?9 1 .01 0.95 0. :5 S1.09 I. 09 JUNE 1934 $1 12 1.23 1. 03 0. 8 1.03 1.04 1.07 JULY 1933 $1.15 1.30 1.03 G. QI 0.92 1. 05 1.09 NET WHOLESALE E SELLING PRICES IN CARLOTS F.O.B. DISTRIB'JTING POINTS JULY 1934 ,CA:SE GOODS THE WHOLESALE E PRICES G I VE" B LOW ARL: 9,\ ED ON THE REPORT MADiE BY MANUFACTURERS COVERING ACTUAL GAL.ES DELI VERED AT ;MANUFACT UE'S 1 DIS:TR IBUT ING POINTS ON 3ASIS OF CPAC '1i- C/UH O' RT T I ./r C r i T EVA''OR/VTED M LK CONDENSED MILK F. 0. 2. (PER CA E or 42 14 oz.. CANS) (PER CASE OF 48 14 OZ. CANS) RANGE AVEc.AGE RANGE AVERAGE BOSTON $2.40- .70 $2.57 $4.75-4.85 $4.82 NEW YORK CITY 2.40-2.70 2.57 4.26-4.90 4.61 PHILADELPHIA 2.40-2.70 2.55 4.75-4.85 4.82 CHICAGO 2.40-2.60 2.47 5.25 5.25 CLEVELAND 2.40-2.60 2.48 ST. Louis 2.40-2.60 2.48 KANSAS CITY 2.40-2.30 2.48 MINNEAPOLIS-ST.PAUL 2.40-2.0 2.48 ATLANTA 2.40-2.60 2.48 - NEW ORLEANS 2.40-2.60 2.49 3.87-5.00 4.06 DENVER 2.40-2.60 2.49 SEATTLE 2.40-2. 0 2.51 - SAN FRANCISCO ?.40-2.60 2.51 4.90 4.90 Los ANGELES 2.40-2.0 2.53 4.90 4.90 AVERAGE WHOLESALE E SELLING PRICES BY GEOGRAPHIC SECTIONS JULY 1934 C UNSWEETENED EVAF'OR-.TED Sw FTENED CONDENSED SWEETENED CONDEMN ED GEOGRAPHIC (PER. CASE OF (PER CASE OF (BULK PER CWT.) SECTIONS 48- 144 OZ. CANS) 4 14 OZ. CANS) UNSKIMMED SKIMMED NEW ENGLAND -- 2.58 $44 $7.15 I 4.40 MIDDLE ATLANTIC 2.55 4.63 7.64 4.32 SOUTH ATLANTIC 2.54 4.93 7.15 4.60 E. N. CENTRAL 2.49 5.25 6.62 4.38 W. N. CENTRAL 2.49 -6.8 4.55 SOUTH CENTRAL 2.50 4.46 7.10 4.60 NORTH WESTERN 2.52 4.30 6.96 4.54 RSOUTHI WcESTERN 2 o52 4.90 8.96 4.54 U. S. AVERAGE Ju111 V 134 $ F. 3 $4. 73 $6.99 JU -- -t$4 7 U. S. AVERAGE JUNE 1934 U. S. AVERAGE JULY 1333 $2.54 _$2. 53 $4.74 $6.99 $4.46 $4.43 $4.94 $7. 15 $4.59 (OVER) AUGUST 1I34 -- . C------L- ---------t----~i~------ --- --- I- uvY "L L "~ .L PAGE 2 STOCKS AND PRODUCTION OF EVAPORATED AND CONDENSED MILK TOTAL STOCKS INCLUDE ALL STOCKS HELD BY MANUFACTURERS REPORTING, WHETHER THEIR WN OR STOCKS OF OTHERS; WHETHER ON THEIR OWN PREMISES, IN STORAGE, OR IN TRANSIT UNSOLD) FOR WAREHOUSE CONSIGNMENT; AND WHETHER 3OL) OR CONTRACTED FOR AND NOT DELIVERED. STOCKS AND PRODUCTION FIGURES FOR THE CURRENT MONTH I "CLUDE REPORTS FROM PRACTICALLY ALL FIRMS MANUFACTURING THE CLASSES OF I. ILK INDICATED. EVAPORATED M LK CONDENSED MI K C9NDEISED MI K S__(CASE GOODS CALE GOODS (SULK GOODS) TOTAL STOdKS ON AUG. I, 1934 NO. OF FIRMS REPORTING* COMPARISON FOR :.AME FIRM: AUGUST I, 1934 JULY I, IS34 o CHANGE DURING MONTH FIRMS IN COMPARISON AUGUCT I 134 AUGUST 1, 1933 o CHANGE FROM PREV. YEAR FIRMS IN COMPARISON* COMPARISON FOR SAME FIRM,: JULY, 1934 JUNE, 1934 C CHANGE DURING MONTH FIRMS IN COMPARISON* JULY, 1934 JULY, 1933 o CHANGE FROM PREV. YEAR FIRMS IN COMPARISON* 203,885,419 LPS. 37 203,885,419 LBS. 153,149,361 LBS. +33.13o 37 199,214,504 LSS. 131,980,000 LeS. +50.94, 34 I10,477,337 LBS. 17,557,019 LeS. .65"P 35 176,972,41, LBS. 1 7,274,434 LRS. + 5..80 32 TOTAL STOCKS 17,155,688 LBS. 8 17,155,688 LSs. 13,912,453 LsS. +23.31 8 17,155,638 LES. 16,932,426 LBS. + 1.32% 8 PRODUCT I ON 5,752,397 LaS. 5,933,404 L3S. 3.05% 7 5,752,397 LBS. 4,803,220 LBS. +19.76S 7 9,238,134 LBS. 28 9,238,134 LSS. 9,254,527 LoS. 0.18e 28 7,922,775 LBS. 11,771,248 LBS. -32.69% 23 9,416,109 LBS. 12,392,847 LBS. -24.02% 29 8,100,252 LBS. 7,209,690 LBS. +12.35, 24 FINAL REVISIONS FOR LAST MONTH: TOTAL STOCKS ON JULY 1, 1934 153,149,361 LES. 13,912,453 LBS. ESTIMATED TOTAL PRODUCTION JULY 1334 190,039,000 LBS. 5,374,000 LBS. *FIRMS, NOT FACTORIES. SOME FIRMS OPERATE MORE THAN ONE FACTORY. AVERAGE DAILY PURCHASES PER PRODUCER* 10,105,115 LBS. 11,123,000 LBS. 19 34 JULY 91 933 1934 JUNE 1933 TOTAL PURCHASES 384,056,168 LBS 34-8,902,893 LaS 398,732,209 LBS 391,945,951 LBS NUMBER OF PRODUCERS 92,297 83,819 91,726 84,687 AVERAGE DAILY PURCHASES PER PRODUCER 134.23 LSS 134.24 LBs 144.90 LBs 154.27 LBS PERCENTAGE CHANGES IN 1934 COMPARED WITH 1933 PERCENTAGE PERCENTAGE - 0.01 CHANGE IN JULY 1934 CHANCE IN JULY 1933 6.07 COMPARED WITH JUNE 1934 7.36 COMPARED WITH JUNE 1933 -12.98 THESE FIGURES INCLUDE I LK PURCHASED PRIMARILY FOR THE MANUFACTURE OF EVAPORATED AND CONDENSED MILK. STOCKS OF EVAPRATED MILK BELOW AVERAGE MARKETING AGREEMENT PRICES UNCHANGED STOCKS OF EVAPORATED MILK IN THE HANDS OF MANUFACTURERS ON AUGU-sT I, AS REPORTED TO THE U.S. BUREAU OF AGRIC'IL- TURAL ECONOMICS, WERE CONSIDERABLY BELOW AVERAGE, BUT THERE WAS AN INCREASE IN STOCKS OVER THO::E OF JULY I WHICH AMOUNT- ED TO 50,000,000 POUNDS, COMPARED WITH AN AVERAGE INCREASE OF SUT 26,000,000 POUNDS, OFFsETTINC THIS, HOWEVER, IS THE FACT THAT THE AUGUST I STOCKS TOTALING 203,835,000 POUNDS, WERE 31,000,000 POUNDS LESS THAN THE AUGUST I FIVE-YEAR AVERAGE. THIS RELATIONSHIP, TOGETHER WITH PRODUCTION THIS SEASON RUNNING MATERIALLY DELOW LAST YEAR, PARTLY ACCOUNT; FOR THE STEADY TO FIRM MARKET WHICH CONTINUES TO PREVAIL. REGARDLESS OF A GENERAL FALLING OFF OF DAIRY PRO- DUCTION, EVAPORATED MILK DID SHOW AN INCREASE IN JULY OF 102I MILLION POUNDS OVER A YEAR EARLIER, FUT IN ALL OTHER MONTHS OF 1934, THE YEAR TO YEAR COMPARI- SONS SHOWED DECREASES, WITH THE RESULT THAT FOR THE CALENDAR YEAR TO AUGUST I, 1934 PRODUCTION WAS 98 MILLION POUNDS LESS THAN THE CORRESPONDING PERIOD OF 1933. THLRE WAS A DECREASE OF 242 MILLION POUNDS UNDER 1933 PRODUCTION DURING THE FLUSH PRODUCTION PERIOD ALONE, MAY, JUNE, AND JULY. TRADE OUTPUT OF EVAPORATED MILK EXCEEDED THAT OF 1933 EARLY IN THE YEAR, AND AGAIN IN JUNE, SUT DURING ALLOTHER MONTHS WA; LESS THAN LAST YEAR. FOR THE PERIOD, JANUARY TO JULY, INCLUSIVE1 THERE WAS AN ESTIMATED DECREASE IN 1934 OF 60 MILLION POUNDS UNDER THE FIRST SIX MONTHS OF 133. SOME OF THE SIGNIFICANCE AUGUST 99L6 'LC80 Z9ZgL SII N H IIIIIIIIIIIII 111111111 ii 1111111111 11111111111 llllll II OF THIS COMPA.IS-N IS REMOVED, HOWEVER, WHEN IT IS RECOGNIZED THAT ESTIMATES OF MONTHLY TRADE OUTPUT DO NOT TAKE INTO ACCOUNT STOCKS HELD BY WHOLESALE GROCERS, BECAUSE OF A LACK OF DATA. THE LAST QUARTERLY REPORT OR;F WHOLESALE GROCERS' STOCKS, WHICH APF'LIES TO JUNE 30, SHOWS THAT ON THAT DATE IN 1933, THIS CLASS OF DISTRIBUTORS WERE CARRYING STOCKS ALMOST DODULE THE AMOUNTS USUALLY HELD, AND ALMOST DOUBLE THE STOCKS HELD DN JUNE 30 THIS YEAR, THE AMOUNTS THIS YEAR DEING ASOUT AVERAGE. THUS, A LIGHTER TRADE OUTPUT IN 1934 MAY DE PARTLY ACCOUNTED FOR DY LIGHTER STOCKS CARRIED DY. WHOLE- SALE GROCERS THIS YEAR. IT IS POSSIBLE THAT THE HEAVY MOVEMENT OF EVAPORATED MILK FROM MANUFACTURERS HANDS IN JUNE THIS YEAR MAY HAVE DEEN DUE TO WHOLESALE GROCERS STOCKING UP IN ANTICIPATION OF A PRICE INCREASE, SINCE ADOUT THAT TIME THERE WAS A PROPOSAL TO AMEND THE EVAPORATED MILK MARKETING AGREEMENT-AND REMOVE THE EXISTING MAXIMUM WHOLESALE SELLING PRICE PROVISION. THIS AMENDMENT IS STILL PENDING. AVERAGE WHOLESALE SELLING PRICES OF EVAPORATED CASE IN JULY WERE PRACTICALLY THE SAME AS IN JUNE. SOME PFICE SHADING WAS SAID TO HAVE TAKEN PLACE, OUT THE VOLUME OF -USINESS ON SUCH A BASIS WAS PROOADLY NOT LARGE IN RELATION TO TOTAL SALES. UNIV. rL FL LM. 1934 --l U.S. DEPOOITOffY ~___ |
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