The record-union., 1895-10-26
CONDITION OF TEE HOP MARKET.
The Crop is 100000 Bales Short of
Consumption.
But There Is About That Much Of
Surplus Now in the English
Market.

Thomas & Short, London factors of
American hops, in their circular Of
the LIST of October, say:
The near completion of the ingather-
| Ing of the English crop enables us to
put bfore our American friends reliable
information respecting the quantity and
quality of the new seasons growth.
Although the bine sufferd from long
continued drought, which at one time
threatened disaster, the change to CO.
piouS rains came in time to save the
! bulk Of the plantations from failure,
and hot forcing weather during the
past month has wrought wonders in
developing and ripening the hops, and
providing the best possible conditions
for harvesting them. The later hops de-
rived the greatest benefit, the change
coming, in some cases, too late for the
! earlier sorts.
The quantity is now generally con-
! sidered to be about one-fourth less than
last years crop, which, according to
J the official statistics, was 636, SIG cwtS,
| edual, at $50 pounds to the bale, to
nearly 100000 bales. The present Eng
| lish crop may therefore be reckoned at
about 3O0,0 600 bales. The Continental
| crop is estimated at about one-fifth
| less than last years yield. The crop in
America is also reported to be from
one-fourth to one-fffth under that of
last season, but this will probably be
much reduced by growths left unpicked.
| The yield for the whole world is COM
puted at some $1,000 tons, or zoos, 900
bales, being about % per cent. less than
! last year.
! Although the quality of the English
| crop has, under the late favorable
weather conditions, improved greatly
| beyond anticipatiOns, still the mischief
done by drought and mildew has left
| its mark in some districts; and the
earlier pickingS were less matured and
! inferior to the later hops. Vermin has
| not in the result affected the crop to any
| extent. On the whole, the quality is
varied, and the output may be roughly
estimated at 80 per cent of choice to
medium, 40 per cent medium to COM
mon, and 80 per cent. common and low.
The importatiOns into the United
! Kingdom during last season We're:
From the United States, 800; from
the Continent, 25,S00 Total, III, 800
! bales.
| Adding the home crop to the above
we have a grand total of oil 800 bales,
which were thrown on the English mar
ket during the season, while the con-
sumption of the United Kingdom is
usually computed at only about 400,
While it must be admitted that a
great many hops were picked in Eng
| land in 1894 which were too poor for
use and did not find a market, yet it is
obvious that the above figures tell
| tale of over production, and show very
good reasons for the low prices which
! have prevailed, and the impossibility OF
! finding purchasers for all the parcels OF
| even good quality hops which have
| been on offer here.
! 1t will, however, be seen that the pres
| ent crop being 100, 900 bales less than
! the annual consumption, there will be
room in this market in the coming sea-
] son for considerable quantities of Amer
| lean hops of good quality and it is to re
| hoped that shippers will refrain from
| sending inferior qualities, there being,
| besides this seasons percentage, large
stocks Of common grades of last years
| hops still on hand, and as brewers are
well stocked they will be independent
and critical buyers.
Prices for American hops opened last
season at about u cents per pound,
for good quality, and gradu
ally declined to about IA cents
of the season, when a great many poor
Californians were sold at about "a
| cents. Very few States were re-
ceived here. The quality of these and
of Pacifics was generally disappoint-
ing.
AS regards the probable prices for the
coming season, the market for English
hops has not yet settled, and therefore
the prices for American hops can only
be assumed, but we regret that the out
look affords no prospects of anything
but very moderate values, and we think
that opening prices for American hops
will be from ~ to Il cents per pound,
for qualities ranging from medium TO
choicest
We must here refer to new depress-
ing element which has arisen during
the past year. Some American dealers
have come over from the United States
! of America and have been trying the eX-
! pertinent of selling American hops di-
rect to English brewers, and their
/ easy quotations to the trade being made
handle of by all brewers against the
/ English hop merchants, the latter have
/ been compelled to retaliate on the mar
! ket by bearing down prices still lower
! in order to compete, and in some cases
! even to undercut their new opponents.
| The English merchants have at present
/ the brewers trade entirely in their own
! hands, both for home and foreign
/ hops, and declare their intention of
retaining it, come what may. Mean
! while the hops which are thus made a
| bone of contention cannot but suffer Sc
riously both in matter of value as well
as Of position, in the market.
1t is strongly cOntended in the Bor-
ough that the few American hops which
have been sold to brewers direct would
/ have fetched more in the open market
in the absence of the competition which
they have provoked and that this be-
comes a very serious consideration when
| its effects extend to the bulk of similar
! produce on the market. It is also
! pointed out that those who engage in
the business of providing for the re-
/ Quirements of brewers must of necessity
/ act in the interest of the consumer;
and, as no man can serve two masters,
so, it is argued, the diverse interests of
producer and user cannot be efficiently
! handled together. 1t is to be hoped, on
behalf Of the already impoverished hop
growers that this fight over their pro-
duce may not be continued.
We remind our friends that our bust
ness in hops is confined to the handling
Of the American crop, and while we
much regret the present depressed con-
dition of the trade trying alike to sell
ers and producers, we hope better times
may be near at hand. Our best services
are at the disposal of our friends, as
| hitherto.
ROARS OF LAUGHTER