ÆäÀÌÁö À̹ÌÁö
PDF
ePub

Mr. Benet, counsel for the association and referred to in the above resolution, states that he was not present at the meeting at which these resolutions were adopted and that no committee was selected to go to Washington. It appears that nothing further was done in this direction. However, the plan had already been adopted by the oil mills in several of the States, and as a result the cut of linters was materially reduced. In this connection attention is directed to Table No. 1 (see p. 5), which shows that the total cut of linters in 1926 was slightly less than in 1925, although the quantity of seed crushed was about 750,000 tons greater than in the previous year. Assuming that the normal cut in 1926 would have been as great as in 1925, viz, 94 pounds per ton of seed, the total linter cut was reduced by about 185,000 bales.

Woodall and Pendleton, of Dallas, Tex., the brokerage firm mentioned on p. 18, maintain a service bureau for the purpose of disseminating information as to cottonseed products. The expenses of this bureau is borne by its subscribers, which consist principally of operators of cottonseed-oil mills in Texas. Circulars containing general information as to market conditions are distributed to its subscribers and to the secretaries of the various associations.

PRICES

During the World War period the price of cottonseed and cottonseed products was fixed by the Government and like other products reached abnormal levels. According to the Bureau of Agricultural Economics of the Department of Agriculture the peak was reached in 1919, the average price obtained by the producers in that year being $67.18 per ton. In the following year, although the cotton crop was not above normal, the average price paid the producer for seed was only $22.92 per ton. Since then the average price has varied somewhat in proportion to seed production, as will be seen by comparing the data presented in Table 1 (see p. 5) with the data presented in the table below. In Table No. 2 is shown the average price received by the producer in the principal cotton-producing States for the years 1921-1926:

TABLE NO. 2.-Yearly average price per ton obtained by producers for cottonseed

[blocks in formation]

Prices in the various States vary, due to the difference in the yield of the more valuable products and to the fact that in the Southeastern group of States there is a greater local demand for cottonseed meal for use in mixing fertilizers and feeds. For example, prices generally are higher in North and South Carolina, Georgia, Alabama, and Mississippi, than in Oklahoma and Texas. By referring again to Table 1 (see p. 5) it will be noted that the seed crop in 1923 and 1924 was below normal and that the average prices for seed were relatively high. In 1925 the crop exceeded that of 1924 by more than 1,000,000 tons, and the average price dropped from $34.16 per ton to $30.88 per ton in 1925. In 1926 the seed crop was almost a million tons larger than in 1925, and the average price of seed fell to the low level of $21.63 per ton. In 1927 the price paid the producer was materially higher, many sales being noted at $40 per ton, it being evident from the estimates that the seed production for the season would be below normal. In this connection it is of interest to note that the estimate for the current cotton crop, as of November 9, 1927, was only 12,842,000 bales as compared with 17,977,374 bales produced last year. On this basis the seed available for crushing probably will not exceed 4,250,000 tons.

The commission secured no price data from the ginner but did secure prices paid by the oil mills in 1925 and 1926. The average price paid by the mills, exclusive of freight, for the last 10 days of September, October, and November for the two seasons was reported. Since the bulk of the seed crushed is purchased during these months it is believed that these prices are representative. In Tables 3 and 4 below are shown the prices reported by several of the mills operating in the principal cotton-producing States:

TABLE 3.-Average price paid by cottonseed-oil mills for cottonseed per ton on the last 10 days September, October, and November, 1925

[blocks in formation]

1234567

1

$40.00 $38.00 $38.00 $35.00 $35.00 $35.00
$40.00 40. 10 40.00 41.00 38.00 38.00 38.00
36.00
35.00 35.00 36.00 36.00 34.00 34.00
40.25 40.00 40.75 40.75 38.75
38.75
40.75 40.75 39.75 38.75 39.50

$35.00 $35.00

34.00 38.60

33.00 33.00

39. 25
38.75

[blocks in formation]

40.75 38.25 38.25! 37.75 39.75 39.00 36.00 36.00
41.75 41.25 41.00 41.50 41.00 40.00 39.75 39.75 40.50
41.00 41.00 39.25 39.00 39.00 39.00 37.50 37.75

38.50 38.75

36.75

36.70

37.25

9

Arkansas..

36.00

1 38.00 39.88
2 37.00

[blocks in formation]

38.00
36.00
37.00 36.00 36.00
3 36.00 36.00 36.00 38.00 38.00 38.00 37.00 38.00
4 40.90 41.21 40.85 40.98 41.70
5 38.75 38.75 37.50
37.25
6 39.50 39.00 39.50 39.00 38.75
7 38.50 38.50 38.50 39.00 38.50

39.00 37.60 36.00
35.00

35.00

38.00

39.85 39.94

39.72

38.50
39.00

37.25 37.75

37.50

37.25

38.50

37.75

38.25 1

36,00

39.75 40.00 38.50 38.25
41.75 41.00 40.50 40.25
40.00 39.50 40.00 39.50

38.50

39.50 38.75

[blocks in formation]

4

38.00 38.00 38.00
39.00 39.70
41.00 40.50 41.25

39.00 39.00

8

9

Louisiana..

41.00 40.50
41.00 40.75 40.45 42.25 40.00 41.50 40.00 41.50
40.50 40.50 40.45 40.50 41.00 40.00 41.00
39.50
40.00 40.00 40.00

41.00
40.50

40.80

40.50

40.25 39.25

39.50

41.50

39.25

[blocks in formation]

34.00

38.55

38.86

38. 10

39.00

34.00 34.00 34.00 35.00 35,00 35.00
37.92
38.90

39.43

38.67

39.02

38, 60

38.20

39.25

TABLE 3.-Average price paid by cottonseed-oil mills for cottonseed per ton on the last 10 days September, October, and November, 1925—Continued

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]

TABLE 3.—Average price paid by cottonseed-oil mills for cottonseed per ton on the last 10 days September, October, and November, 1925-Continued

[ocr errors]
[merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]

TABLE 3.—Average price paid by cottonseed-oil mills for cottonseed per ton on the last 10 days September, October, and November, 1925-Continued

[blocks in formation]
« ÀÌÀü°è¼Ó »