29 
States reached in 1918 a value of $3,611,500, while those from 
other countries sank to $466,106. This market was formerly 
supplied almost solely by Swiss condensed milk. Similarly 
has the situation changed in Latin American countries. Brazil 
and Chile alone imported each about 1200 to 1300 tons of 
condensed milk annually. The larger portion of this was of 
Swiss origin before the war. But lately the amounts of United 
States milk shipped to South America have greatly increased, 
as the following figures show: 
Condensed milk shipped to South America from the United 
- States (in pounds) 
13 1915 1917 1918 - 
792,373 1,643,123 4,442,675 9,216,275 
The great boom, however, was checked early in 1918 on 
account of lack of transatlantic ship room and vast stores ac- 
cumulated. Orders were reduced while the output vastly in- 
creased and high prices had been contracted for fresh milk. 
Condensaries begun under war stimulation had neglected to 
provide domestic outlets. Some of these were forced through 
financial stringencies to sell at disastrous prices; this demoral- 
ized the market generally and caused some factories to shut 
down. The temporary embarrassment was relieved when bet- 
ter shipping facilities were re-established. The export con- 
--tinued large to the present time and prices kept fairly high. 
The stocks, however, because of the large production, were 
never entirely exhausted and have again been accumulating in 
the first months of this year. The total stocks of condensed 
and evaporated milk in the United States were, according to 
the U.S. Market Reporter, on March 1,. 1919, 49,226,760 
pounds, on March 1, 1920, 186,529,752 pounds, and on June 1, 
1920, 212,697,402 pounds. This indicates that the situation is 
none too bright at present. There would no doubt be a much 
larger demand in Europe if conditions were more settled and 
the exchange rates not so prohibitive to the most needy Euro- 
pean consumers. The following are some of the more recent 
prices quoted in the U.S. Market Reporter as the averages for 
the United States: 
Prices paid by Condensaries for 3.5% Milk 
1919 1920 
Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June 
3.82 3.45 3.51 8.59 8.48 38.17 2.82 2.77 2.80 
