r 



^■^ year, unless consumption is restricted by G-overnment order. The pro- 

 hibition of non-essential building recently announced by the War 

 Production Board will tend to reduce the quantity of paint and varnish 

 oils needed, but this reduction may be about offset by increased use of 

 such oils for ships and armaments, defense housing and possibly for 

 repainting and redecorating purposes. Supplies of the fast-drying 

 oils — tung, oiticia and perilla — will be very small, but abundant 

 supplies of linseed oil are in sight. Prices of fats and oils generally 

 are not expected to change materially in the next few months. 



Dairy products . Prices of butter increased steadily during 

 April to about 3 cents above the G-overnment support level of 36 cents, 

 but in early May lost about half of the gain. Prices of other dairy 

 products, except casein, have been steady. Casein prices continued to 

 decline. Butter prices again declined to the government support level 

 Tuesday at New York. 



The supply of feed grains per animal unit in 19^2-^3 "i^y ^e 

 about 10 per cent smaller than the imusually large supply in 19^1-^2, 

 and feed grain prices probably will be higher. Supplies of high protein 

 feeds, on the other hand, probably will be somev/hat larger and prices 

 may average a little lower. Although dairy product prices are expected 

 to average higher in 19^2-^3 tihan in 19^1-^2; dairy product-feed price 

 ratios probably will continue below the 1920-3^ average for corresponding 

 months. With 3 per cent more cows on farms, however, production of 

 milk and manufactured dairy products in 19^2 is expected to increase 

 sufficiently to permit increa.sed exports under the lend-lease prograjn 

 ^ and a slight increase in domestic consumption. 



Milk production is now increasing seasonally and v;as ^ per 

 cent larger on May 1 than a year earlier. 



Beginning May 27 the A,cT?icultural ^-^arketing Adniinistration 



