Page:Rice - annual market summary, 1959 (IA riceannualmarket27unit 0).pdf/7

 a long-grain rice produced and sold largely in Texas. -- found slow demand and prices for No. 2 grade averaged $9.10 per cwt., f.o.b. Houston mills. This was 70₵ less than the 1957-58 average and the lowest average price in five years, Rexoro and Texas Patna, other important long-grain varieties, averaged $10.70 per cwt., f.o.b. Southwest Louisiana mills, or 40^ less than a year earlier. Declines for Rexoro and Texas Patna were not as marked as for other long-grain varieties. Supplies were short, reflecting the longer growing season and limited market outlets at the higher price level.

Broken rice, including both long- and short-grain second heads, screenings and brewers' rice, showed only minor month-to-month fluctuations during the 1958-59 season. Annual average prices, f.o.b. New Orleans mills, stood at $5.90 per cwt. for long-grain second heads and $5.70 for short-grain second These averages were 15 and 20₵, respectively, lower than in 1957-58. heads. Rice screenings, at $5.30 per cwt., bagged, were 25₵ under the year before. Brewers' rice, now priced on a bulk basis, was off 30₵ per cwt. and averaged $4.70 in New Orleans.

Rice bran, influenced by good domestic and export demand for smaller supplies, reversed the 1957-58 trend and advanced nearly $5.00 per ton in 1958-59. Prices climbed steadily from August through January, reached the season's high in February, and tapered off slightly each month for the balance of the season to average $35.95 per ton, bagged, Southwest Louisiana mills. Rice polish followed the same seasonal price pattern as rice bran, but month-to-month changes were not nearly as pronounced as those for bran. Polish averaged $41.50 per ton, bagged in Southwest Louisiana. This was 55₵ per ton above the previous season and $5.65 above prices at Houston mills.

California

Rough rice brought California growers an average price of $4.10 per cwt, for 1958-59, or about 35₵ less than in 1957-58. Prices were the lowest since 1949, reflecting lower support prices, somewhat larger supplies and relatively poor quality as indicated by the outturn of milled head rice.

California milled rice sold lower along with rough rice. No. 2 California Pearl milled head rice ranged from a low of $7.40 to a high of $8.15 for an annual average of $7.55 per cwt., San Francisco docks basis. This was 40₵ below the 1957-58 price and $1.50 under the 10-year average. A few large sales of milled rice were made to cereal manufacturers at prices below published quotations. Prices for No. 1 Calrose ranged from $7.75 to $8.75 and averaged $8.00 per cwt. for 1958-59. No. 2 grade was quoted 5-10₵ per cwt. below No. 1 rice; No. 3 grade, 25₵ less.

Broken rice production was larger in California during 1958-59 and prices suffered greater declines than those for head rice. Second head prices ranged from a low of $4.75 per cwt. early in the crop year to a high of $6.00 toward the close of the season. The annual average of $5.80 per cwt. was $1.35 under the 1957-58 average. Brewers' rice took a sharper drop in California than it did in the South. Bulk quotations at California mills averaged $4.75 per cwt. or about $1.45 less than in 1957-58. - 5 -