The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1905-02-15
ENGLISH EXPERTS VIEWS
ON The HOP MARKET
A. P. Hides Says the Prices are Fifty
Per Cent Below What the Situa-
ton Justifies.

So quiet is the local hop narket-or
rather the conditions with regard to
hons, for there cannot be said to be
market for hops here now-that
stranger in the town would scarce sus-
pect that hops were raised and sold here
in any quantity. The severe cold
weather of the past few days in the east
has had marked effect upon the gen
eral market, also, and the demand has
been light; it is reported to be incrcas-
ing now. Growers and speculator- holders
seem to nave the best of the situation,
and it is said that the brewers will soon
be compelled to purchase at the prices
demanded by the holders.
A. p. Hides, the English hop expert.
writes to the Mark Lane Express and
Agricultural journal. under date of Jan
uary 18th, regarding the hop situation
as follows:
"1hc present position Of the hop trade
is. Judging from the statistics and the
state of the market. one which is hardly
realized by the consumers or growers.
That the law of supply and demand
can be overyddcn by careful tactics has
never been more clearly demonstrated
tnan during the present season.
"For the third year in succession the
English crop has been partial failure,
and the crop in 1904 was not only one
Of the smallest on record. but one of the
most costly to produce, yet prices have
been quite 50 per cent below what the
circumstances justified. This may be due
in some measure (a) to the diminished
consumption, owing to the falling off in
the brewing trade; tb) to economy in
the use of hops; tc) the use of hop sub
stitutes; td) heavy importations. The
chief cause, however, is the position
taken up by some of the principal
brewers followed by the smaller oncs),
VINO, anxious to keep down the cost of
materials, and therefore unwilling that
The growers should reap the advantage
Of their unique position, have sought to
wear them out by neglccting the Eng
lish market and confning their attcn-
ton principally to foreign hops, which
they know they must buy sooner or
later. The result has been OD that
those growers who thaye incurred heavy
liabilities i'll order TO secure their
crops were in want of money have mad
TO accept the low prices offered; (2) that
the imports of foreign hops have been
exceptionally heavy from September TO
December inclusive. From a compar-
son, however, of the estimates formed
in the early part of the season with the
actual quantities imported, it is clear
that we have received from abroad all
the hops we are likely to get this sta
son, and in further proof of this the
Austrian4, having oversoId themselves.
are buying in the German markets From
September | to December 81, 1904, we
received from the United States 1Ol lao
swt., against an estimate of $4,000 cwt..
10 o., 900 cwt., and from the Continent
l0S,24j cwt,; against an estimate of So
600 cwt.
"A careful study of the board of trade
returns for the ten years ending De-
sembcr 81, 1904, shows that, after taking
the imports and exports into consdera
tion, there are not sufficient hops in this
country for the requirements of 1905,
even after making a liberal allowance
for the decreased consumption On the
past three years alone there is de
feiency of about 100000 cwts. If. there
fore, the holders of the few remaining
hops will only release their very strong
position, and are able to hold their hons
they will not part with them Mt any
thing like current quotations. We have
Che following facts to remember: ~
That the crop of 1904 was not only the
third small crop in succession, but was
tine smallest for fifteen years; (2) that
Che country has been swept of all old
hops and rubbish, much of the latter
1nding its way last season To the Con
hnent at prices which showed that