Hay and Feed HAY MARKETS GENERALLY DULL AND LOWER DURING PAST WEEK Local Conditions Were Ruling Factors—Quality of New Hay Shipments Only Fair So Far.
Reading edition
Local conditions were again the principal factors in the hay market situation for the week ending July 29. Eastern markets were experiencing the mid-season dullness, while central western markets were having some difficulty in disposing of the increasing receipts of new hay, much of which was not of desirable quality for shipment. The railroad strike was reported as curtailing shipments in some sections, but generally the effects of the strike were not noticeable in the markets. The average price of hay was lowered slightly during the week, but the larger declines were in the eastern markets, where prices were being worked to a new hay basis.
Receipts were lighter in the East but heavier in the West, as is shown in the following table, which gives receipts in carloads at several important markets for the weeks ending July 22 and July 29, 1922 and July 30, 1921:
City. 1922 1921
July 29. July 22. July 30.
Boston 39 30
New York 173 280 192
Philadelphia 69 41
Pittsburgh 44 29
Cincinnati 188 113 146
Chicago 258 191 228
Minneapolis-St. Paul 208 141 54
St. Louis 121 88
Kansas City 360 330
Los Angeles 48 84 224
San Francisco 138 253
TIMOTHY LOWER IN EAST.
Timothy.—Notwithstanding the light receipts, prices declined $1.50‒$2.50 per ton on No. 1 timothy hay at New York and Boston during the week. Very little good hay was offered and the poorer grades were not wanted. Buyers appeared to prefer to await larger receipts of new hay. The few cars of new hay arriving were mostly No. 3 or lower and some were heating. Light receipts caused firm prices most of the week at Philadelphia and good old hay was in demand at Pittsburgh. New hay, most of which graded No. 2, sold at $5 discount under old No. 1 prices at the latter market.
Good quality old hay and new cool, sweet hay sold readily at Chicago, but the poorer grades, of which there was an oversupply, sold at heavy discounts. Southside yards were congested with off-grade hay. Nearly all the new hay was reported to be overripe and of poor color. Many cars were heating, also.
The timothy market developed an easier tone at both Cincinnati and St. Louis. The local demand was limited and prices were said to be too high to stimulate a shipping demand to the South and Southeast. There was, however, very little inquiry from the southern markets, as Johnson grass and other local hays were on the market in good supply.
ALFALFA MOVEMENT LIGHT.
Alfalfa.—The movement of alfalfa from Kansas and other Southwestern States was comparatively light, as the second crop of alfalfa was much smaller than the first because of the hot, dry weather which recently prevailed in that territory. The shortage of water in some sections will also probably cause a lighter yield of the third crop so that producers are not inclined to sell their stocks at prices unsatisfactory to them. Kansas City reported a more active demand from the cotton belt as well as from the local dairy trade.
Advances in prices for all grades were reported from Los Angeles where receipts were light. Choice rabbit hay sold as high as $25 per ton. Receipts at San Francisco were heavier and prices were much lower than at the southern market.
Prairie.—Prairie hay constituted the bulk of the receipts at Minneapolis and Kansas City. Dealers and consumers who had accumulated large stocks of hay in expectation of a curtailed supply because of the rail strike were not interested and the market ruled dull. The stockyards offered the principal outlet at Minneapolis. Country supplies of prairie were reported heavy and little improvement in the market was expected.
Straw.—Receipts of straw were light but equal to the demand in most markets. Some old rye straw was wanted in eastern markets. There was an oversupply of wheat straw at Chicago. Current quotations were as follows: No. 1 wheat—Boston (old) $19, Baltimore $12, Pittsburgh $13.50, Chicago $9, Cincinnati $10.50, Richmond $12; No. 1 oat—Boston (old) $20, Baltimore $12.50, Pittsburgh $13.50, Chicago $11.50, Cincinnati $10.50; No. 1 rye (straight)—Boston (new) $30, New York (new) $22, Baltimore $30; No. 1 rye (tangled)—Pittsburgh $13.50, Chicago $13, Cincinnati $11.
MILL FEED MARKETS DISPLAYED WEAK TENDENCY DURING WEEK Heavy Production of Wheat Feeds Cause of Rather Large Accumulations—Alfalfa Meal Firm.
The mill feed market was in a weak position during the week ending July 29. Increased production and offerings of the more important feedstuffs with no material improvement in the demand from principal feeding sections resulted in an easier feeling and lower quotations, especially for bran and cottonseed meal.
During the early part of the week the market held steady, but as soon as production figures became more generally known buyers turned resellers and endeavored to realize profits on their long contracts. During the last few days of the week trading was practically at a standstill, with sellers anxious to dispose of nearby shipment stuff. Stocks in hands of interior dealers were thought to be fairly good for this season of the year and advices indicate that they are being disposed of only slowly. The movement was fair.
Wheat mill feeds.—Bran was easily the weakest of the wheat mill feeds and on heavy offerings declined to $14 in the Minneapolis market. Standard middlings and the heavy wheat feeds held slightly better, flour middlings and reddog of ordinary quality commanding $24.50 and $29.50, respectively, in that market. Production in southwestern and northwestern mills increased substantially and an easier market prevailed. Most of the markets quoted bran $1‒$2 lower than last week. The movement
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CARLOAD PRICES OF HAY AND FEED AT IMPORTANT MARKETS, JULY 29, 1922.
[In dollars per ton.]
Boston.[31] New York.[31] Philadelphia.[31] Pittsburgh.[31] Cincinnati.[31] Atlanta. Jacksonville. Memphis.[31] Buffalo. Chicago.[31] Minneapolis.[31] St. Louis.[31] Kansas City.[31] Los Angeles.[31] San Francisco.[31]
HAY.
Timothy and clover:
No. 1 timothy 30.00 30.00 25.00 [32]24.00 17.00 24.00 24.00 21.00 19.00 21.00 17.50 14.50
Standard timothy 29.00 24.00 22.00 19.00 16.50 16.50 13.00
No. 2 timothy 26.00 27.50 23.50 19.00 16.00 22.50 20.00 18.50 17.50 16.00 16.00 15.00 11.00
No. 1 light clover, mixed 28.00 23.50 19.50 15.50 22.50 23.00 18.50 [32]16.00 14.25
No. 1 clover, mixed 23.00 24.00 17.00 14.50 22.00 12.00 [32]15.50 12.00
Alfalfa:
No. 1 alfalfa 17.00 25.00 24.00 22.50 20.00 [32]18.00 16.00 19.00 16.00
Standard alfalfa 16.00 23.50 19.50 17.00 [32]16.00 14.00 15.00
No. 2 alfalfa 14.00 22.00 17.00 15.00 [32]13.00 12.00 12.00
Prairie:
No. 1 upland 19.00 16.00 11.25
No. 2 upland 17.00 15.00 9.50
No. 1 midland 16.00 12.50
Grain:
No. 1 wheat 19.00
No. 1 oat 21.00 18.00
FEED (bagged).
Wheat bran:
Spring 23.25 23.25 22.25 22.00 21.00 24.00 24.00 18.50 20.50 17.25 14.00
Soft winter 25.00 23.25 24.00 23.50 21.50 24.00 21.50 14.50 40.00 37.00
Hard winter 22.50 22.50 21.00 24.00 20.50 17.00 16.75 14.25 36.00
Wheat middlings:
Spring (standard) 26.50 25.50 25.50 24.50 24.50 29.00 26.00 21.50 20.00 17.00
Soft winter 32.00 29.50 28.00 32.50 30.00 24.00 22.00 46.00
Hard winter 30.50 28.00 23.00 21.50
Hard winter wheat shorts 29.00 28.00 25.00 23.00 23.50 19.50
Wheat millrun 26.00 18.00 36.00
Rye middlings 26.00 25.00 23.00 20.50 15.50
High protein meals:
Linseed 49.00 48.00 48.00 [32]48.50 47.10 54.50 44.50 46.50 45.00 50.00 58.00
Cottonseed (41%) 44.50 43.50 43.00 44.00 44.50 50.00 47.00 44.50 48.00 49.00
Cottonseed (36%) 42.50 41.50 41.00 42.00 41.00 38.00 42.00 36.00 41.50 46.50 43.00
Peanut (36%) 31.00 49.00
No. 1 alfalfa meal (medium) 25.00 30.00 22.50 23.25 22.00 18.50 26.00
Velvet-bean meal 32.00
Gluten feed 35.20 35.35 34.95 33.75 32.00 38.55 33.75 28.85
White hominy feed 32.00 31.00 30.50 28.50 29.00 29.00 29.50 26.00 25.00 22.00
Yellow hominy feed 31.50 30.50 30.00 28.50 28.50 29.00 25.00 21.00
Ground barley 33.00 31.50
Dried beet pulp 51.00 33.00 53.00 48.00 36.00
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