LITTLE FOREIGN DEMAND EXPECTED.
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. | July 1, 1922. | June 1, 1922.[[11]] | July 1, 1921. | |||
| Case goods. | Bulk goods. | Case goods. | Bulk goods. | Case goods. | Bulk 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 and bulk goods. | By manufacturers of bulk 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 of 14–oz. cans. | Unsweetened evaporated. 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 |