MOVEMENT AT FIVE MARKETS.
[New York, Chicago, Philadelphia, Boston, and San Francisco.]
Week ending July 29.Previous week.Last year.
BUTTER.Pounds.Pounds.Pounds.
Receipts for week16,406,38817,848,85813,737,695
Receipts since Jan. 1406,421,998390,015,610333,511,550
Put into cold storage5,763,1206,227,5744,363,777
Withdrawn from cold storage1,196,5271,090,9112,391,506
Change during week+4,566,593+5,136,663+1,972,271
Total holdings58,529,16953,962,57649,378,903
CHEESE.
Receipts for week4,760,3504,368,7954,034,423
Receipts since Jan. 1113,423,195108,662,845109,844,370
Put into cold storage2,212,8082,824,6382,780,994
Withdrawn from cold storage1,297,9071,185,1071,753,219
Change during week+914,901+1,639,531+1,027,775
Total holdings17,542,27716,627,37615,250,616
DRESSED POULTRY.
Receipts for week3,039,7913,237,7542,455,183
Receipts since Jan. 1107,262,094104,222,30391,359,363
Put into cold storage1,039,9301,211,646745,099
Withdrawn from cold storage2,114,3132,144,5661,518,844
Change during week–1,074,383–932,920–773,745
Total holdings23,316,21124,390,59415,513,172
EGGS.Cases.Cases.Cases.
Receipts for week273,535293,498236,614
Receipts since Jan. 112,471,45612,197,92111,265,592
Put into cold storage76,18874,22245,631
Withdrawn from cold storage34,86329,35270,151
Change during week+41,325+44,870–24,520
Total holdings4,995,1534,953,8283,645,439

CHEESE PRICES LOWER UNDER LIGHT CONSUMPTIVE DEMAND
Speculative Demand Also Lacking—Prices Down a Full Cent at Wisconsin Primary Markets.

The light summer consumptive demand without the support of speculative storage activity has been insufficient to clear the current make of cheese during the past few weeks, and as a consequence a weaker feeling developed. During the week ending July 29 this weakness became more pronounced, and prices at the Wisconsin primary markets were lowered as much as a full cent in an effort to stimulate trading.

Buyers, however, were not eager to take on any more goods than could be readily used to meet daily requirements. Although a few cars of fine cheese were purchased early in the week for storage, the majority of buyers felt that the market was on too high a plane for speculation.

SPECULATIVE DEMAND ABSENT.

The absence of speculative support has probably been the largest factor in the weaker country markets, and the reflection of this weakness in the distributing markets. Moreover, movement into consumptive channels has not been active for some time. As storage demand has been lacking and the primary markets have been showing signs of weakening, most buyers at distributing points adopted the policy of hand-to-mouth buying in anticipation of lower prices. Advices at the end of the week indicated that some dealers do not look for a revival of trade until prices at country points reach 16¢, about 2¢ below present prices. However, this sentiment is not universal, and many dealers think that present prices may not be far from bottom.

Embargoes on railroad shipments of perishable foodstuffs in the southern and southwestern sections of the country have reduced shipments below normal requirements, and until the rail strike is ended but little support is expected from those sections. In fact, many in the trade believe that while the strike may cause higher prices in certain consuming centers where supplies are exhausted, embargoes on shipments will tend to weaken the primary markets because of curtailed outlets.

At the close of the week the tone of the market was barely steady. Holders were free sellers, and in many instances were inclined to make concessions in order to keep stocks as low as possible. Little export or import business was reported, although small shipments of Split Twins were imported from Canada. However, both the export and import business was of small consequence and did not affect the market. With production in excess of consumption and speculators off the market, many in the trade expect an unsettled market accompanied by lower prices.

IMPORTS OF EGGS DURING JUNE, 1922.
[Data from the Department of Commerce.]
Imported from—Eggs in the shellDried and frozen eggs.Egg albumen.
Dozen.Pounds.Pounds.
Denmark2,100
Canada16,95712,800
China72865,000374,140
Hongkong24,3197,636300
Other countries6
Total:
June, 192243,454885,436374,440
June, 192144,941726,596293,948
Jan. to June, 1922632,1894,840,3774,072,171
Jan. to June, 19212,471,1676,198,5621,322,519

CONDENSED AND EVAPORATED MILK MARKETS STILL SLOW
Domestic Products Meeting With More Competition From European Goods—Exports Decrease.