Domestic demand in England is reported as somewhat heavier, but American
manufacturers have as competitors an increasing number of European
factories which are able to lay down the goods at a lower cost. In fact,
foreign demand is not expected to absorb very large quantities of
American-made goods in the very near future. Latest export figures are
for the month of June and indicate a slight decrease under May and a
very large decrease under June, 1921.
Condenseries, however, have had at least one favorable condition during
the past few months which has helped considerably to offset the dull
demand for canned milk. Prices of both butter and cheese have been at
levels that made it possible to divert surplus milk into one or the
other of these products, and as a result the production of condensed and
evaporated goods has been held as low as was consistent with good
business practice. These outlets have been fortunate not only because of
the lighter demand which has featured both condensed and evaporated milk
markets, but because of the upward tendency of costs of manufacturing as
well. Seasonal advances in prices of raw milk are almost at hand, and in
the case of condensed milk, sugar is over one-third higher in cost than
it was in the spring. The latter has been of considerable influence in
diverting trade demand to evaporated milk on account of the lower prices
at which this class of goods could be sold.
The summer demand from the domestic trade for condensed and evaporated
milk has not been up to expectations. The icecream trade especially has
taken much smaller quantities of goods than condensing firms had
anticipated. This is explained partly by the fact that powdered milk is
being more widely used in the manufacture of ice cream, and partly by
the relatively cool weather in various consuming sections of the
country.
Summarized figures from manufacturers indicate that condensing
operations have been carried on conservatively and that due
consideration has been given to the anticipated and actual dull summer
demand from all classes of trade. Although total stocks on July 1, as
indicated in the accompanying tables, reveal a moderately heavy increase
over June 1, it must be borne in mind that the heavy producing season
has just passed. It is to be noted also that while total stocks on July
1 were heavier than on the first of the previous month unsold stocks
were lighter. Furthermore, a comparison of total stocks on July 1 this
year and last shows a decrease of approximately 26%. Therefore, from the
statistical standpoint, markets were, perhaps, in better shape on July 1
than they were June 1.
Stocks and Exports of Condensed and Evaporated Milk.
[In thousands of pounds; i. e., 000 omitted].
───────────────────────┬───────────────┬───────────────┬───────────────
Stocks. │ │ June 1, │
│ July 1, 1922. │ 1922.[11] │ July 1, 1921.
───────────────────────┼───────┬───────┼───────┬───────┼───────┬───────
│ Case │ Bulk │ Case │ Bulk │ Case │ Bulk
│goods. │goods. │goods. │goods. │goods. │goods.
───────────────────────┼───────┼───────┼───────┼───────┼───────┼───────
CONDENSED. │ │ │ │ │ │
Total stocks │ 21,706│ 22,078│ 25,032│ 12,520│ 33,670│ 27,981
Total unsold stocks │ 16,325│ 16,215│ 21,775│ 9,360│ 28,577│ 21,567
Total unfilled orders │ 183│ 229│ │ 422│ 460│
│ │ │ │ │ │
EVAPORATED. │ │ │ │ │ │
Total stocks │141,380│ 499│135,895│ 370│169,576│ 1,331
Total unsold stocks │ 84,234│ 351│109,238│ 362│142,215│ 1,318
Total unfilled orders │ 1,196│ │ 1,315│ │ 2,342│
═══════════════════════╪═══════╧═══════╪═══════╧═══════╪═══════╧═══════
Exports. │ June, 1922. │ May, 1922. │ June, 1921.
───────────────────────┼───────────────┼───────────────┼───────────────
Condensed milk │ 4,817│ 6,678│ 8,060
Evaporated milk │ 10,890│ 9,032│ 13,640
───────────────────────┼───────────────┼───────────────┼───────────────
Total │ 15,707│ 15,710│ 21,700
───────────────────────┴───────────────┴───────────────┴───────────────
Prices to Producers at Condenseries for 3.5% Milk.
[Per 100 pounds.]
───────────────────┬─────────────────────────┬─────────────────────────
Geographic section.│By manufacturers of case │By manufacturers of bulk
│ and bulk goods. │ goods only.
───────────────────┼────────────┬────────────┼────────────┬────────────
│ July. │ June. │ July. │ June.
───────────────────┼────────────┼────────────┼────────────┼────────────
New England │ $1.73│ $1.53│ │
Middle Atlantic │ 1.83│ 1.85│ $1.76│ $1.62
South Atlantic │ 1.69│ 1.64│ 1.45│ 1.45
East North Central │ 1.58│ 1.42│ 1.71│ 1.62
West North Central │ 1.59│ 1.53│ 1.56│ 1.56
Western (North) │ 1.65│ 1.56│ 1.71│ 1.54
Western (South) │ 4.61│ 1.42│ │
───────────────────┼────────────┼────────────┼────────────┼────────────
United States │ 1.60│ 1.45│ 1.72│ 1.61
───────────────────┴────────────┴────────────┴────────────┴────────────
Wholesale Prices of Condensed and Evaporated Milk.
[To domestic trade.]
───────────────────┬─────────────────────────┬─────────────────────────
Geographic section.│Sweetened condensed. Case│ Unsweetened evaporated.
│ of 14‒oz. cans. │ Case of 16‒oz. cans.
───────────────────┼────────────┬────────────┼────────────┬────────────
│ June. │ May. │ June. │ May.
───────────────────┼────────────┼────────────┼────────────┼────────────
New England │ $5.12│ $5.10│ $3.91│ $3.89
Middle Atlantic │ 5.18│ 5.03│ 3.87│ 3.87
South Atlantic │ 5.27│ 5.25│ 3.91│ 3.95
East North Central │ 5.34│ 5.26│ 3.75│ 3.73
West North Central │ 5.20│ 5.13│ 3.79│ 3.76
South Central │ 5.45│ 5.41│ 3.95│ 3.95
Western (North │ │ 4.70│ 4.03│ 3.89
Western (South │ │ │ 4.06│ 4.00
───────────────────┼────────────┼────────────┼────────────┼────────────
United States │ 5.24│ 5.17│ 3.89│ 3.86
═══════════════════╧════════════╧════════════╧════════════╧════════════