: Weather Crops and Markets. Vol. 2 No. 6 by Anonymous - Agriculture United States Statistics Periodicals; Agriculture Statistics Periodicals; Crops and climate United States Periodicals; Farm produce United States Marketing Statistics Periodicals

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WEATHER CROPS ^ MARKETS

Published Weekly by the United States Department of Agriculture

??????????????????????????????????????????????????????????????????????? WASHINGTON, D. C. AUGUST 5, 1922. VOL. 2, NO. 6 ???????????????????????????????????????????????????????????????????????

EXPORT BUTTER DEMAND CAUSES MUCH INTEREST Sales to United Kingdom Strengthened Early Summer Market--Shift in England's Supply Sources.

A demand for American butter by English buyers had a materially strengthening effect on the early summer market in the United States. This generally unexpected export demand has called forth various explanations in the attempt to determine the probability of continued demand from that source.

An analysis of the international butter trade of the past 10 years indicates that a change not yet generally realized has taken place in the seasonal trend of imports of butter into the United Kingdom, which largely accounts for this demand in anticipation of an autumn shortage. This change is due to the shift that took place during the war in the sources of supply of that greatest of all butter-importing countries.

SUPPLY WAS UNIFORM.

Prior to the war the United Kingdom obtained its butter supply from such widely scattered sources in both the Northern and the Southern Hemispheres that the supply was remarkably uniform from month to month throughout the year. During the war, when supplies available from continental Europe and Russia were reduced, Australia, New Zealand, and Argentina were encouraged to expand their dairy industry, and have together since that time continued as the most important sources of supply of butter on the British markets.

As the flush of production in Australia, New Zealand, and Argentina occurs during the fall and winter months when production is lightest in North America and Europe, England now receives an average of two-thirds of the total supply of foreign butter during the winter and spring, whereas formerly but one-half was received during this period.

Although consumption does not necessarily follow the same seasonal trend as the imports, it is a fact, according to reports of London dealers, that butter stocks are now lower than at the same time last year, when at least 50,000,000 lbs. of Government stocks still remained unsold in England. With comparatively light stocks and the certainty that imports into England after July can not be as heavy as during the first six months, a speculative demand has been stimulated in that country in anticipation of an expected autumn shortage.

Although butter production since the war has recovered rapidly in practically all of the important dairy countries, Russia is still out of the world's market. The cutting off of the Russian exports to England, which amounted to 150,000,000 lbs. annually from 1909 to 1913, was the greatest single factor in bringing about, this change in the seasonal supply of the latter country.

The present statistical position of the United States is, therefore, somewhat misleading, unless due consideration is given to

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