The market for undergrades was somewhat more active. The heavy supply of
last week showed but little if any reduction, and current receipts
consisted largely of undergrade butter. The quality of receipts
generally was reported considerably better during the week and this no
doubt was largely the cause of the improved market in undergrades. More
interest was shown in undergrades by buyers who bought for immediate
needs or who got such price concessions as to make their purchases
bargains, but as a rule dealers found it impossible to move all their
undergrades even at large price reductions.
Receipts for the week show but little change from previous weeks. It was
generally expected that production would gradually decrease in spite of
the fact that conditions for a good fall production have been favorable.
Hence, the latest available report from the American Association of
Creamery Butter Manufacturers showing an increase of 9.8% over last year
and an increase of 0.44% over the previous week came as a surprise. The
storage holdings for the four markets showed a marked decrease during
the week. The decrease was most pronounced at Chicago, indicating a
movement of storage butter from there to other markets.
The S. S. _Frederick VIII_ arrived during the week, carrying a cargo of
1,250 casks of Danish butter, which did not become available until
Friday. Part of this butter was reported sold at prices ranging from
44³⁄₄¢ to 45¹⁄₂¢, depending upon the size of the lot. The S. S.
_Heligolav_ and _Drottingholm_ now afloat with combined cargoes
estimated at between 3,000 and 4,000 casks. The _Oscar II_, which sailed
from Copenhagen on Sept. 30, is also expected to carry some butter. The
effect of the Danish butter on the markets has been largely sentimental,
causing operators to act somewhat more conservatively.
=WHOLESALE PRICES OF BUTTER AND CHEESE FOR WEEK ENDING OCT. 1.=
[Cents per pound.]
----------------+-----------+-----------+---------+--------+--------
CREAMERY | New | Chicago. |Philadel-| Boston.| San
BUTTER | York. | | phia. | |Francis-
(92 score). | | | | | co.
----------------+-----------+-----------+---------+--------+--------
Monday | 44 | 43 | 45 | 44 | 44¹⁄₂
Tuesday | 44 | 43 | 45 | 44 | 44³⁄₄
Wednesday | 44 | 43 | 45 | 45 | 44³⁄₄
Thursday | 44 | 43³⁄₄ | 45 | 45 | 45
Friday | 44 | 44 | 45 | 45 | 45¹⁄₄
Saturday | 44¹⁄₂ | 44 | 45 | 45 | 45
+-----------+-----------+---------+--------+--------
Average for week| 44.08 | 43.46 | 45.00 | 44.67 | 44.87
Previous week | 44.00 | 42.50 | 44.58 | 44.33 | 43.71
Corresponding | | | | |
week last year| 60.91 | 58.50 | 60.83 | 60.58 | 63.04
================+===========+===========+=========+========+========
AMERICAN | New | Chicago. | Boston. | San | Wiscon-
CHEESE. | York. | | |Francis-| sin.
(No. 1 fresh | | | | co.[1] |
twins.) | | | | |
----------------+-----------+-----------+---------+--------+--------
Monday |20¹⁄₂-21¹⁄₂|19³⁄₄-20¹⁄₂| 22-23 | 21¹⁄₄ | 19¹⁄₂
Tuesday |20¹⁄₂-21¹⁄₂|19³⁄₄-20¹⁄₂| 22-23 | 20³⁄₄ | 20¹⁄₂
Wednesday |20¹⁄₂-21¹⁄₂|19³⁄₄-20¹⁄₂| 22-22¹⁄₂| 20³⁄₄ | 19³⁄₄
Thursday |20¹⁄₂-21¹⁄₂|19³⁄₄-20¹⁄₂| 22-22¹⁄₂| 20³⁄₄ | 19³⁄₄
Friday |20¹⁄₂-21¹⁄₂|19³⁄₄-20¹⁄₂| 22-22¹⁄₂| 20³⁄₄ | 19⁵⁄₈
Saturday |20¹⁄₂-21¹⁄₂|19³⁄₄-20¹⁄₂| 22-22¹⁄₂| 20³⁄₄ | 20
+-----------+-----------+---------+--------+--------
Average for week| 21.00 | 20.13 | 22.33 | 20.83 | 19.85
Previous week | 20.87 | 20.00 | 21.42 | 21.29 | 19.58
Corresponding | | | | |
week last year | 27.63 | 26.56 | 29.91 | 33.25 | 26.46
----------------+-----------+-----------+---------+--------+--------
[1] Flats.
=Wholesale Prices of Centralized Butter (90 score) at Chicago.=
[Cents per pound.]
Monday 37
Tuesday 37³⁄₄
Wednesday 37³⁄₄
Thursday 38¹⁄₄
Friday 38¹⁄₂
Saturday 38¹⁄₂