The Market Reporter Vol. 4, No. 15
Please see the Transcriber’s Notes at the end of this text.
The Market Reporter
Published Weekly by the
United States Department of Agriculture
Bureau of Markets and Crop Estimates
|Washington, D. C.||OCTOBER 8, 1921.||Vol. 4, No. 15|
GROWERS HOLD CLOVER SEEDFOR HIGHER PRICES.
Quality of 1921 Crop About Same as Thatof last Year—Alsike Clover SeedMovement Normal.
The movement of red clover seed fromgrowers’ hands has been below normal, butthat of alsike clover has been fully normal,according to reports received by the Bureauof Markets and Crop Estimates during theweek ending Oct. 1. There is a tendencyon the part of the growers of red clover seedto hold their seed because the crop, whichis now being thrashed in many sections, isnot turning out any better than was expectedat harvest time and as reported inThe Market Reporter for Sept. 10.
Although clover prices on Sept. 27 weremostly 50¢ to $1 per 100 lbs. lower than theywere a month ago, they have shown littleor no change during the past week or tendays. The quality of red and alsike cloveris about equal or slightly inferior to that oflast year’s stock. Rains during the last twoweeks of September have discolored orbleached much of the seed in some sections.
Red Clover.—In a number of importantsections only 5 to 25% of the red clover seedcrop had been sold by growers at the end ofSeptember. This season’s movement, however,has exceeded the belated movementof the 1920 crop, but has been a little slowerthan usual. Growers see evidences of ashort crop in their immediate vicinity, andin view of the fact that prices offered are onan average $2 to $4 per 100 lbs. lower thanlast year, and $25 to $28 lower than two yearsago at a corresponding time, they are notinclined to sell freely. In a few sections,particularly southwestern Ohio and southeasternIowa, the movement has been considerablyabove normal, the growers alreadyhaving sold 45% and 35%, respectively, oftheir crops.
The average prices offered to growers invarious sections on Sept. 27 for clean seed, asshown in the accompanying table, rangedfrom $14.60 per 100 lbs. in southwestern Iowato $17.25 in southwestern Ohio, comparedwith a range of $17.25 to $22 at a correspondingtime last year.
The imports of red clover seed during July,August, and September totaled 1,792,900 lbs.compared with 305,200 lbs. during the samemonths a year ago. These heavy imports ofold seed from Europe and South Americahave tended to depress prices for domesticseed. French, German, and Italian correspondentsstate that large quantities of redclover seed were sold during July and Augustand consequently stocks of old seed havebeen reduced greatly. The 1921 crop inthese and other European countries was reportedto be much below normal because ofthe drought during the summer, and it willbe needed for sowing the acreage there nextspring.
The quality of the seed in this countryvaries considerably in different sections, beingbetter than last year in southern Wisconsin,Ohio, Minnesota, South Dakota, andIdaho and somewhat poorer in central Illinois,and Indiana, Michigan, and parts ofother States.
Alsike Clover.—In practically all of theimportant producing sections a larger percentageof the crop had left growers’ handsby Oct. 1 than on the same date last year.It is estimated that about two-fifths of themarketable surplus had been sold by growersby that date. On Sept. 27 growers were beingoffered $13.05 to $16 per 100 lbs. for cleanseed compared with prices a year ago of $18.40to $24.50 and two years ago of $36.20 to $40.
Most of the reports indicated that thequality of the 1921 crop was approximatelythe same as that of last year; the reports indicatinga difference in quality between the1921 and 1920 crops were about equally divided,some stating that the quality wasbetter and others stating that it was inferior.
The imports of alsike clover seed from July1 to Sept. 30 were 1,106,700 lbs., comparedwith 109,700 lbs. for the same period lastyear. The crop in Ontario, Canada, whichcontributes the large bulk of the alsike cloverseed that is annually imported into thiscountry is less than normal and is estimatedto be 60% of the 1920 crop. The decreasedproduction of this seed in the United Statesand Canada has caused prices to remainrather firm since harvest.
|Red Clover Seed Prices and Movement.|
per 100 lbs.,
basis clean seed.
|Percentage of 1921,|
1920, and 1919 crops
sold by growers
|P. ct.||P. ct.||P. ct.|
|Alsike Clover Seed Prices and Movement.|
|P. ct.||P. ct.||P. ct.|
A GLANCE AT THE MARKETS.
Heavy receipts featured the week’s live-stocktrading. The trend of cattle prices was decidedlyirregular. The hog market had a fairly healthytone. Sheep and lamb trade showed some improvement.The fresh meat trade throughoutthe month of September was narrow (pp. 226and 228).
Prices of wheat and corn futures declinedsteadily throughout the week, but cash premiumsstrengthened in all markets excepting Minneapolis(p. 234).
The movement of fruits and vegetables wasnear the peak of the season, and prices declined(p. 230).
Definite information concerning volume ofDanish imports steadied the butter market.Cheese markets were steady under improveddemand (p. 233).
Hay continued in light supply and prices inmost markets were unchanged. General inactivitycontinued in feed markets, wheat millfeeds registering extreme Weakness (p. 236).
Prices of spot and future cotton continuedto advance. Production estimated at only6,537,000 bales (p. 238).
The monthly Wool consumption report appearson page 239.
The monthly table showing carload shipmentsof fruits and vegetables appears on page232.
AUGUST EXPORTS OF EVAPORATEDMILK SHOW INCREASE.
Shipments of Evaporated Milk During August ExceedThose of Condensed—Export Prices Lower.
The movement of unsweetened evaporatedmilk in cases during August was considerablylarger than that of sweetened condensedmilk, and the tone of the market for the formerclass of goods was proportionately better,as shown by a review of the latest availablereports from milk manufacturers. The demandfor bulk goods has decreased materiallywith the approach of cooler weather, especiallythe demand from the ice-cream trade.
Manufacturers’ reports of total stocks onhand Sept. 1 indicate approximately thesame surplus of condensed case goods as onAug. 1, but show a decrease of over 35% inthe quantities of evaporated case goods. Asimilar condition prevailed with regard tounsold stocks, supplies of condensed casegoods being practically the same as on Aug.1, while stocks of unsold evaporated casegoods decreased almost 50%. Stocks of casegoods of both condensed and unsweetenedevaporated milk on Sept. 1 were less thanone-half the quantity reported on handSept. 1, 1920.
The export movement during Augustapparently served to give considerable reliefto the general situation. Exports totaling22,803,000 lbs. of evaporated milk more thandoubled the July exports. Exports of condensedmilk were but 7,557,000 lbs., althoughthis was 2,000,000 lbs., heavier than inJuly. The United Kingdom received theheaviest shipments, 12,716,000 lbs. of evaporatedand 3,232,000 lbs. of condensed goingto that country. France and Germany eachreceived approximately 3,000,000 lbs. ofevaporated milk.
Exports of condensed milk during the firsteight months of 1921 were but 62,000,000lbs., compared with more than 221,000,000lbs. during the same period in 1920, whileexports of 116,000,000 lbs. of evaporatedmilk this year are 5,000,000 lbs. heavierthan the shipments in 1920.
Manufacturers’ selling prices to the domestictrade during August remained practicallythe same as during July, but reductionsoccurred in prices to foreign trade.The largest cuts averaging 34¢ per casewere made in export prices of sweetenedcondensed milk. Unsweetened evaporatedmilk prices to foreign trade were not so generallyreduced, as some manufacturers seemto have advanced export prices slightly, withthe result that the average export price wasbut 4¢ less per case than during the previousmonth.
Wholesale Prices of Condensed and Evaporated Milk.
(To domestic trade.)
|East North Central||6.41||6.48||4.52||4.64|
|West North Central||6.38||6.44||4.76||4.75|
Prices to Producers at Condenseries for 3.5% Milk.
(Per 100 lbs.)