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Title: Agricultural prices
Author: Henry A. Wallace
Release date: May 9, 2025 [eBook #76047]
Language: English
Original publication: Des Moines, Ia: Wallace Publishing Company, 1920
Credits: Richard Tonsing and the Online Distributed Proofreading Team at https://www.pgdp.net (This file was produced from images generously made available by The Internet Archive)
*** START OF THE PROJECT GUTENBERG EBOOK AGRICULTURAL PRICES ***
Agricultural Prices
BY
HENRY A. WALLACE
Associate Editor of Wallaces’ Farmer
[Illustration: [Logo]]
WALLACE PUBLISHING COMPANY
Eleventh and Walnut Sts.
Des Moines, Iowa
Publishers of Wallaces’ Farmer
Copyright 1920
By the Wallace Publishing Company
All Rights Reserved
[Illustration]
PREFACE
This book is written for all those who may be interested in the matter
of prices of agricultural products, but more especially for the farmers
of the corn belt states, students of agricultural colleges, county
agricultural agents, and leaders of farm organizations. Its purpose is
to promote a better understanding of the factors which influence prices
of farm products and stimulate an intelligent interest in statistical
economics.
Aside from a rather small number of specialists at the larger terminal
markets, few of the people who buy or sell farm products have any very
definite ideas concerning the legitimate price-making forces. A better
understanding of such forces by farmers generally should in itself
gradually bring about prices which will approach more nearly cost of
production, and tend to reduce the violent fluctuations above and below
the compensatory average.
A careful study of the facts herein set forth should aid leaders of farm
organizations to avoid costly mistakes which too often result from hasty
and ill-considered action.
While not written primarily for economists, I trust many of them may
find something of practical value in the matter herein. They may,
perhaps, feel that at times I have not been as respectful as they would
like toward many of the ideas of the classical school, but I have no
apologies to offer on this score. In anticipation of possible criticism
of my treatment of cost of production, I shall ask them to remember that
I use “cost of production” as a ratio concept (if need be, a shifting
ratio) and not as a cost-accounting concept. I may say, also, that I
hold to no particular philosophy of economics unless a very firm belief
in the utility of thoro mathematical price studies might be considered
as constituting the basis of a philosophy.
While the book is frankly written from the farmer’s point of view, there
is no bias whatsoever to the mathematics used, and it is believed that
so far as it may influence opinion and practice, the results will in the
long run benefit both farm producer and city consumer.
Students who may take up this book for serious study will get the
greatest good from it by following prices of agricultural products from
day to day and month to month, and noting when the relationship is
normal and when abnormal. In this way they will acquire habits of
intelligent observation of price trends that should prove of very great
value to them when they get into business for themselves.
If this book is used as a college text, it is hoped that it will be by
classes which are especially concerned in applying statistical laws to
agricultural prices. Such classes should have free access to calculating
machines, multiplying tables, etc., and should make a serious effort to
work out various ratios and also to work out supply and demand laws for
various farm products by means of correlation coefficients, lines of
regression, etc. The tables given in the appendix should be of some
value as a source of raw material. For further material, it is suggested
that the Year Books of the United States Department of Agriculture, the
Monthly Crop Reporters of the Bureau of Crop Estimates, and the Reports
of the Chicago Board of Trade be consulted. A good book on correlation
coefficients, etc., is Yule’s Theory of Statistics. The teacher of the
suggested class in agricultural price statistics should simplify the
mathematics to mere method, not concerning himself or his pupils with
the theory back of it all. Wherever possible, the teacher should study
very carefully the January and April, 1919, volumes of The Review of
Economic Statistics, published by the Harvard University Press. The
methods as exemplified in these volumes can very profitably be applied
to the field of agricultural prices.
Acknowledgement is made to Professors J. M. Evvard and E. G. Nourse, of
the Iowa State College, and to Professor F. A. Pearson, of the
University of Illinois, for criticisms and helpful suggestions.
HENRY A. WALLACE.
[Illustration]
TABLE OF CONTENTS
PART I.
Our Present Price-Registering System 7
The Three Price-Making Forces 11
Criticism of Our Price-Making System 15
Supply and Demand 20
Can “Price” Make “Supply and Demand”? 22
Cost of Production 26
Ratio Method of Determining Cost of Producing Hogs 30
Supply and Demand Versus Cost of Production 36
Cattle Prices and the Ratio Method 39
Packer Prices and the Ratio Method 41
Milk Price Determination 44
Cost of Producing Crops 49
Consumers’ Ratios 52
Technique of the Ratio Method 57
Limitations of the Ratio Method 60
Retail and Wholesale Prices 62
Pork Exports the Barometer of Corn Belt Prosperity 64
Corn Belt Land Values and the Cost of Producing Corn 72
Price Stability and Soil Fertility 74
Measuring Total Crop Production 75
PART II.
Mathematical Study of Supply and Demand in the Hog Market 81
Predicting the Future of Hog Prices 98
Limitations of the Mathematical Method 103
Conclusions Based on Ratios and Mathematics of Supply and Demand 106
Appendix 113
OUR PRESENT PRICE-REGISTERING SYSTEM[1]
Prices of corn belt food staples are registered more promptly and more
delicately on the Chicago Board of Trade than anywhere else in the
world. The farmer visitor in Chicago, who has a few minutes to spare,
finds it very interesting to look down from the Chicago Board of Trade
galleries on the corn pit. For several minutes, the pit may be the
dullest thing imaginable, and suddenly news will “break.” Perhaps it is
the month of August, and it has begun to rain in Nebraska. As a result,
certain operators are anxious to dispose of the corn for which they had
contracted. Perhaps it is 9:30 on another August morning, and the
temperature, even this early in the day, is 85 degrees, and the
prospects are for hot winds sweeping Kansas and southwestern Iowa. Men
who have sold corn “short” a few days before, on the strength of local
rains, are now thoroly scared, and rush into the pit to buy back before
the price runs up more than three or four cents.
The farmers sitting in the gallery, watching the speculators buy and
sell “paper” corn, by shaking their fists and nodding their heads, feel
that the Board of Trade is a gambling institution. So firm is this
conviction that several of our largest farmers’ organizations have gone
on record as being opposed to the speculative system as a method for
registering prices of farm products.
So far as the business world is concerned, the system of buying and
selling future contracts employed by the Board of Trade is in the nature
of risk insurance. A feed concern may have sold to farmers twenty
carloads of their feed at a price based on $1.20 corn. They have not
bought this corn as yet, and do not have room to store it. They
therefore buy a contract for future delivery at $1.20, in order to
protect themselves against corn going up in the meantime. This feed
concern is in the manufacturing game; it can not afford to take a risk,
and for that reason buys a future on the Board of Trade. When this feed
concern accepts the actual corn, it sells the contract. It may make or
lose money on the purchase and sale of the contract, but in either event
the net result is that the actual corn cost $1.20 per bushel plus the
commission charge of a fraction of a cent per bushel.
The speculator takes the risk, and the spirit in which he approaches the
game is often the gambling spirit, pure and simple. But, like all shrewd
gamblers, he takes his risks as shrewdly as possible, and after a time
becomes expert in judging the probable effects of weather, political
news, transportation difficulties, etc., on corn prices. And these
factors are more real than some of our agitators would have us believe.
But while speculators perform a real service to society, there is
nothing angelic about them. They are concerned with a profit, not with
service. The professional speculator is generally either “long” or
“short” of the market; that is, he has corn bought or sold for future
delivery. The man who has December corn bought for future delivery at
$1.20 per bushel is hoping with all his energy that the corn crop is
short and price will therefore advance, that transportation difficulties
will materialize, that an unusual demand will spring up from Europe for
foodstuffs, that something will happen to send up the price. He is
favorable to the promulgation of any kind of news which will help him to
sell his corn at a profit. While the Board of Trade has regulations
against the dissemination of false news, nevertheless these men at times
seem to be able to color the crop news very effectively. Situations
develop where most of the professional speculators are on one side of
the market, and where they are apparently able to use propaganda to
force prices very rapidly either up or down, at the expense of the
amateur speculators.
The products most traded in on the Board of Trade are wheat, corn and
oats, and to a lesser extent the cured hog products, rib sides, lard,
and mess pork. The smallest units traded in are 5,000 bushels of grain
and 50,000 pounds of provisions. In the case of the grains, the
contracts most commonly traded in are contracts for delivery in
December, May, July and September. In the case of the pork products, the
contracts most traded in are contracts for delivery in January, May,
July and September. Before the war, trading in December corn customarily
opened in the month of May. The price of December corn as quoted in May
was necessarily based on the supposition that the ensuing crop would be
a normal crop, neither greater nor less than the average. If there was
cold, wet weather in May or June, the price advanced. If the weather was
warm and rather dry, the price declined slightly. However, as a general
proposition, before the war, the price held practically steady during
the months of May and June. During July and August, however, corn values
on the Chicago market oscillated back and forth with rainfall and
drouth, registering the changes in marvelously delicate fashion.
Customarily, before the war, it took an average rainfall, in the seven
great corn states, of about one and a quarter inches during ten days, to
hold the price of December corn futures practically stationary. A
rainfall of as much as one and three-quarters inches in a ten-day period
during July and August would ordinarily depress the price by several
cents a bushel, whereas a ten-day period with no rainfall at all would
customarily advance the price by eight or nine cents a bushel or even
more if the temperature was high.
Anyone who studies these things is surprised at the accuracy with which
the market price before the war actually reflected crop conditions as
they changed from day to day. Since the war, it has been more difficult
to measure the price-making forces. Political conditions in Europe even
during the months of July and August often have had as much influence as
the weather in determining the price of corn.
The Board of Trade has to do with both cash grain and future trading. So
far as prices are concerned, the cash market is supposed to be less
sensitive than the market for futures. The business of the future market
is to register changing conditions as promptly and accurately as
possible. Occasionally, however, artificial situations develop. For
instance, in a year of a very good corn crop, a large number of
speculators may have sold December corn “short” at around $1.20 a
bushel. At the time of the sale, they may have had every reason to
believe that they could eventually buy the actual grain for less than
this price when the month of December finally arrived. Then gradually
transportation difficulties began to grow and bad weather came on, and
altho there might be an enormous crop in the country, there would be
very little corn in Chicago. Then certain other speculators might go to
work buying large quantities of December corn futures, knowing that
other men were “short” a long line of December corn at $1.20. These
speculators might not actually want the corn, but nevertheless, by
playing the technique of the market, might be able to create a “squeeze”
and force the price of corn up to $1.50 a bushel before permitting the
“shorts” to settle. And this might happen in spite of the fact that by
January 2d there might be enough actual corn coming into Chicago to
enable cash corn to be sold as low as $1.20.
The object of this book is neither to praise nor condemn the speculative
system as a method for registering prices of farm products. We are
pointing out the strong points in the present system. Idealistic social
workers, representatives of organized labor, and many farmers, would
like to do away with the speculative system of registering prices. They
would like to substitute therefor price-fixing legislation. These
people, as a rule, are densely ignorant of the legitimate price-making
forces, and it is impossible that they should be able to shape a
price-registering machinery superior to that which we now have.[2]
One reason for the writing of this book is the belief that organized
farmers and organized labor, working in conjunction with certain
idealists, will make an effort to modify our present price-registering
system. We are heartily in sympathy with such an effort, for the
speculative system is far from perfect. But it is such a delicate system
of registering prices that we believe that even the most virulent
opponents should allow the system to run unchecked for a good many years
yet, in order that they may study its functions more carefully. Here is
a great field of research for the economists, who for some unknown
reason have failed to study Board of Trade prices during the past fifty
years as closely as they should.
Improvement on our present system can be made only after a thoroly
scientific and dispassionate study of its strength and weakness.
THREE PRICE-MAKING FORCES
Three forces are prominent in making agricultural prices—cost of
production, supply and demand, and strategic considerations. Farmers and
laborers believe that cost of production should be the chief
consideration. Business men preach “supply and demand” as the great
price-making force, and in addition use strategic propaganda when it is
to their advantage to do so.
Cost of production in the long run is on the average practically
identical with both the supply-and-demand price and the actual price. It
is in the very nature of things that those producers who can not on the
average get cost of production will go out of business. In the case of
the hog business, it takes about three years for the average man to get
in and out. Ten years, which is fully three times the “in and out”
cycle, is “long run” in the hog business. A ten-year average of actual
hog prices should therefore be approximately equal to a ten-year average
of the cost-of-production price of hogs. As a matter of fact, we find
that the cost of production, as shown by the corn-hog ratio, is
practically the same from one decade to the next. Decade after decade,
the corn-hog ratio has remained constant at eleven to twelve bushels of
Chicago corn per hundred pounds of Chicago hog ever since the Civil war.
Farm management investigations indicate that for the average farmer this
ratio represents approximately cost of production. As a matter of fact,
this ratio is “cost of production” in the very truest sense of the term.
This ratio represents the reward necessary to keep enough farmers
producing hogs to satisfy the consuming demand, year in and year out.
Stated thus baldly and simply, we see how the cost of producing a
hundred pounds of hog weight must in the long run average the same as
the “actual” price and also the “supply and demand” price. And yet hogs
may sell for a year or so for the value of fifteen bushels of corn, as
they did in 1866 and 1910, or they may sell for a year or so for the
value of nine bushels of corn, as they did in 1908 and 1917. At any
given time, the cost-of-production price is likely to be decidedly lower
or higher than the actual price or the supply-and-demand price. It is
only on the average that cost of production becomes identical with the
actual price.
Supply-and-demand price departs from the cost-of-production price at any
given time because of such things as unusual weather, accidents, etc.
Dry weather in July and August may cut the corn crop short, and as a
result temporarily increase the number of hogs marketed. Under such
conditions, the packer buyers make no attempt to pay for the hogs the
increased price which the higher price of corn would warrant, but
instead buy as cheaply as they can, quoting in defense, “supply and
demand.”
A business panic may come on, as in October of 1907, and as a result the
demand for meats of all kinds may shrink. Corn prices, the cost of
producing hogs, may stay up, as was the case in 1907–1908, but hog
prices nevertheless are reduced. A study of the hog market for many
years past reveals the fact that the immediate price-making force is
“supply and demand,” and that “cost of production” has no influence
whatever on prices except in the long swings.
The supply-and-demand theory of prices is well understood by nearly
every one. Supposedly, actual prices at any given moment represent an
equilibrium of supply and demand. The next day larger supplies come in,
and the demand remains unchanged; naturally the price declines to a
point where supply and demand are again equal. There is a presumption in
the minds of many people that supply and demand interact with almost
mathematical accuracy to determine prices. In the long run, possibly
this is true. The day-by-day price, however, is as much a matter of
psychology as mathematics.
This brings us to a consideration of those more intangible price forces
which may be grouped together under the head of strategy. In January and
in August of 1919, we had excellent examples of the use of strategy as a
price-making force. In both months, certain powerful interests worked in
conjunction with the newspapers to modify public psychology in the
interests of lower prices. Day after day, the lower price bombardment
was directed against the farmers by the daily press and the politicians.
Prices declined in spite of the fact that the supply was greatly
curtailed and the potential demand was as great as ever. In the corn
market, receipts were exceedingly light at Chicago during both price
raids. Hog receipts in August of 1919, when prices dropped $5 per
hundredweight, were the smallest of the year. But government officials
constantly talked about the vast army supply of bacon. As a matter of
fact, the quantity of pork products put on the market by the government
was not enough to account for much of a drop in hog prices. But the
publicity which went with the government announcements, combined with
determined pressure on the speculative markets in this country and
abroad, sufficed to lower prices tremendously in defiance of any
mathematical expression of supply and demand.
[Illustration:
Solid line shows exports from U. S. Dotted line, ocean freights from
New York to Liverpool. Ocean freights are low in summer when exports
are low, and high in the fall when exports are heavy.
]
There is a strategy to the timing of a determined price drive. All
farmers know that such a drive may be expected in the fall of the year.
A drive in the fall is partly normal as a result of the increased supply
at that time, but oftentimes strategic. In the fall of 1865, following
the Civil war, there was a determined price drive, roughly corresponding
to the price drive initiated in August of 1919. In both cases, strategic
factors were apparently paramount. Certainly, no mathematical
formulation of the law of supply and demand could account for the price
changes which took place in 1865 and 1919.
[Illustration:
Solid line, U. S. exports; dotted line, British exchange in U. S.
Dotted line is inverted to show how heavy exports and weak exchange
go together. Chart
is based on 1903–1913 conditions.
]
Farmers have discovered since 1914 that such disturbances as
foot-and-mouth disease, interrupted railroad service, and falling
foreign exchange may influence prices without changing either potential
supply or potential demand. They have suspected the “interests” of
manipulating foreign exchange in the fall of the year to make lower
price for farm products. They have known that ocean freights have
generally advanced in the fall of the year, to the detriment of farm
product prices in the United States, and they have suspected that part
of this advance in ocean freight rates was due to England trying to get
a large return on her shipping and at the same time buy her food more
cheaply.
The two charts presented herewith indicate the normal seasonal trends,
during the decade preceding the war, of exports from the United States
as related to British exchange, and to ocean freights from New York to
Liverpool. It will be noted that United States prices must necessarily
be weakened in the fall of the year by weak British exchange and high
ocean freights.
The speculative price as set from day to day is sometimes a result of
technical situations altogether apart from supply and demand.
Ordinarily, the speculative price as represented by “futures” and the
cash price move in sympathy, but occasionally a scared “short” finds the
market oversold and bids up prices unduly in an effort to cover, or a
tired “long” finds the market overbought and sends prices down unduly in
an effort to sell. And occasionally there is manipulation—interests
working together to make the price temporarily higher or lower than a
normal working of supply and demand would justify. Sometimes the cash
markets, following the lead of the speculative markets, may get out of
line with ultimate supply-and-demand conditions for several months at a
time.
CRITICISM OF OUR PRICE-MAKING SYSTEM
Prices of corn, hogs, etc., are determined chiefly by supply and demand,
together with the occasional influence of strategic manipulation. The
system as operated by the packers and Board of Trade speculators really
reflected conditions before the war with remarkable accuracy. During the
war, so many extraordinary conditions were at work that it was
impossible to measure supply-and-demand conditions at all accurately,
and it is impossible to say how efficiently the speculators did their
work.
But speculators and packers, in so far as they set prices, are concerned
solely in making a profit for themselves. If, by manipulating the
market, they can make a bigger profit than by trying to express
supply-and-demand conditions with mathematical exactitude, then they may
be expected to manipulate. The violence with which hog prices swing
above and below cost of production would suggest that the packers are
consciously endeavoring to send prices too low for a year or two, in
order later to send them too high. They go into the low-price period
with a small amount of high-priced products on hand, and come out into
the higher level with a large quantity of low-price products. It would
seem that by laying in a stock of hog products at the low point, they
hope to profit later by an advance in price.
It is typical of supply and demand, as it makes prices of standard farm
products, that a small crop sells for more than a large crop. A twenty
per cent decrease in the supply raises the price more than twenty per
cent, possibly thirty per cent, or even fifty per cent. Old Gregory
King, in the latter part of the Seventeenth century, recognized this
principle when he stated:
“We take it a defect in the harvest may raise the price of corn [wheat]
in the following proportions:
Defect. Above the common rate.
1 tenth raises the price 3 tenths
2 tenths raises the price 8 tenths
3 tenths raises the price 16 tenths
4 tenths raises the price 28 tenths
Modern statistical study indicates that this statement of King’s is
somewhat exaggerated, but undeniably the tendency exists among standard
agricultural products for small crops to bring in a greater return than
large crops. In other words, the demand for farm products is inelastic.
The ultimate consumer wants just so much of staple foods, no more, no
less. If farmers raise more than so much, they must accept a
considerable reduction in price; if they raise less, they can command an
advance out of all proportion to the shortage. The law of demand for
staple farm products being inelastic, small crops bring in a greater
return than large crops.[3]
The classical economists, the people of _laissez faire_ persuasion,
accept this condition as natural, as inevitable, and therefore
desirable. But is it desirable? The sharp price rise which comes as a
shortage becomes apparent benefits those lucky producers who have
supplies on hand, and especially those keen speculators who first saw
the oncoming shortage and bought in anticipation. This sharp price rise
may overstimulate production. The high hog prices in 1909–1910
stimulated the production of too many hogs, and when this increased
production reached market, the price was $6.50 instead of the expected
$8 to $10. And the low prices of 1911–1912 in turn begat the high prices
of 1913–1914.
The question comes, Would it not be to the public interest if, in price
making, more emphasis could be placed on cost of production and less on
the short-time working of the law of supply and demand? Prices should
rise with a short crop, but not to such an extent as to make a short
crop more profitable than a normal crop. If a moderate rise in prices
will not sufficiently curtail demand, then the public should be educated
to the fact that there has been a drouth, and that unless they curtail
their demand, there will not be enough to go around. Of course, under
our present _laissez faire_ attitude, every speculative business man
would take such a pronouncement as a “bull” statement, and the demand
would immediately increase instead of decrease. There is danger that any
attempt to make cost of production the guiding factor in price
determination will amount to close government supervision of storage,
speculation and similar market phenomena. The disadvantages of
government supervision are apparent to all who watched the Food
Administration at work during the war. The Food Administration performed
a hard job remarkably well, but farmers found that the officials were
ignorant of agriculture, and that, moreover, agricultural interests
could not expect a square deal except in so far as they were organized
to compel a square deal, or except as the emergency itself compelled a
square deal to insure continued production.
If farmers are to continue under the present _laissez faire_ system with
supply and demand, together with strategic manipulations, as the
price-making force, they must necessarily learn to play the game
themselves. They will find it necessary to practice sabotage in the same
scientific, businesslike way as labor and capital. They will reduce the
size of their crops at strategic moments, because they know that small
crops ordinarily bring in a greater return than large crops. Of course,
if farmers should practice sabotage in the same heartless, efficient way
as labor and capital, our society will be imperiled. The burden of the
sabotage practiced by labor and capital has been borne chiefly by the
farmer. When farmers also practice sabotage, labor and capital will be
forced to come to an agreement with farmers on production and price
matters.
Is there not a possibility that capital, laborers and farmers, by
placing themselves in equally powerful bargaining positions, may come to
see the futility of sabotage as a price-sustaining force? Once farmers
are able to meet the other classes of society on equal terms, all three
classes ought to unite on production as the source of profit, rather
than on clever bargaining. This involves close-knit organizations of
both farmers and laborers under the leadership of men well educated in
general economics, in strategic bargaining, and in production. There
must be men studying the system as a whole, men who perceive the
legitimate physical difficulties which our society faces. The labor
leaders must come to see that there is a point beyond which labor can
not go in raising wages and reducing hours. Farm leaders must come to
see that there is a point beyond which farmers can not go in reducing
acreage and raising prices. Business leaders must come to see that the
common people will not stand for curtailment of production to two-thirds
factory capacity in order to secure abnormal profits, when by running
the factories to full capacity the business will give normal profits.
The best brains of all classes must unite in overcoming legitimate
physical handicaps, not in figuring out ways in which a specific class
may benefit at the expense of other classes. In the meantime, farmers
must learn to use sagacious sabotage as effectively as labor and
capital. Otherwise they will continue to be at the mercy of capital and
labor.
What is the best means of overcoming the food shortage resulting from
drouth? _Laissez faire_ economists and business men say: Let high prices
curtail demand and stimulate production. But this remedy is “locking the
stable after the horse is stolen.” Is it practical to build government
warehouses to store wheat in years when the acre yield is more than
fifteen bushels, and from which wheat may be drawn in years when the
yield is less than thirteen bushels?
No scheme of this sort can be definitely laid out in advance. But
statistical science will soon reach a point where it should be possible
to meet our physical handicaps in the way of drouth, floods and
accident, in the spirit of doing what is best for society, instead of
utilizing the crisis for individual or class profit.
If we are to continue our present complex society, we must educate our
children very thoroly in social mathematics. Our problems are not only
problems of the spirit, but also of exact measurement. What is the fair
price for bacon? This involves the cost-of-production idea. Is bacon
relatively lower or higher than hogs? Are hogs relatively lower or
higher than corn? Is there a normal supply in the country? If bacon were
lower in price, would the future supply be imperiled? Would an injustice
be done to farmers? If bacon were higher in price, would an undue profit
accrue to the packers, or would the farmers be stimulated to produce too
many hogs a year from now?
Possibly it will be wise for the government to provide funds to finance
a Price Publicity Committee, to be made up of economists appointed by
our state universities and agricultural colleges. The duty of this
commission would be to make public week by week the relevant price
facts. They would point out which products are relatively high and which
are relatively low, and issue index numbers of various kinds, in an
endeavor to educate the public to fundamental price facts. The object of
such a Price Publicity Committee will be to furnish such constant
publicity that it will be difficult for any product to sell for any
length of time either above or below cost of production. And in saying
this we define cost-of-production price as that price which is necessary
in the long run to keep enough producers in the business to satisfy the
demand. It is believed that adequate publicity will favor the prevailing
of the long run cost-of-production price as opposed to the short run
supply-and-demand price.
Men in whom the laborers of the country have faith should have an
intimate, statistical knowledge of the supply and demand forces as they
make prices and as they make for the prosperity of laborers and society
as a whole. Men in whom farmers have faith should have an intimate,
statistical knowledge of labor and business problems in order that they
may know approximately when labor and business are charging fair prices
for their services. Business men already have a fair statistical
knowledge of farming and labor conditions, but they need an even more
intimate knowledge, as well as a change of heart. They must learn to
operate their businesses from the standpoint of greatest service and a
fair profit, not from the standpoint of greatest profit. Those
businesses which do not learn this may expect to be taken over either by
the government, organized labor, or organized farmers, if not in one
way, then in another.
SUPPLY AND DEMAND
Both farmers and city consumers have expressed much dissatisfaction in
recent years with the methods of price determination as used by the
boards of trade and packing houses. The representatives of the boards of
trade and packing houses have answered these complaints with the simple
formula, “supply and demand.”
During the war, many people announced that prices in the United States
were no longer the result of supply and demand. For a period of two and
a half years, wheat prices were held at approximately $2.20 a bushel, in
spite of the fact that both supply and demand conditions were varying
constantly during this period, and in spite of the fact that under
supply-and-demand conditions as they ordinarily work, prices might have
been expected to have gone as high as $4 and as low as $1.50, at
different times during this period of two and one-half years. Social
workers and others of idealistic temperament who have always been pained
with the rather heartless way in which the law of supply and demand has
worked, were much pleased with the stabilized wheat price, and referred
to it as an instance of the repeal of the law of supply and demand.
Of course, the law of supply and demand never has been repealed, and
never will be repealed. Instead of trying to repeal it, we should try to
secure the best type of price-fixing machinery thru which this law may
work. Man has not repealed the law of gravitation, but has devised such
machines as automobiles, airplanes, etc., thru which he accomplishes his
purposes notwithstanding.
Our city friends who favor government attempts to repeal the law of
supply and demand and to fix uniform and relatively cheap prices should
direct their efforts toward the search for a new price-fixing machinery.
For arbitrary interference with this law invariably brings penalties in
the form of conditions which often are more severe than the condition
which it was hoped to improve.
What we should strive for rather is a better understanding of the law of
supply and demand, in the hope that we may be able to modify the
severity of its operation and thus avoid periods of feast and famine,
with their unreasonably low prices and unreasonably high prices.
Thousands of men in the corn belt, especially the leaders of the
organized farmers, should be familiar with the normal, mathematical
working of the law of supply and demand. They should know not only when
prices are lower than warranted by the supply, but just how much too
low. Exact measurement is necessary in order to perceive when unusual
factors are at work. The price indicated by a mathematical
interpretation of supply and demand may be $1.25 for corn, whereas the
actual price, because of a purely speculative drive, may be only $1. It
is wise to measure prices to some extent by purely mathematical
considerations, in order that we may perceive more clearly when
extraordinary forces are at work.
After having arrived at a price based on a mathematical interpretation
of supply and demand, the problem is to determine to what extent
extraordinary forces are at work and to what extent it may be worth
while to combat them by extraordinary measures. If corn is 15 cents a
bushel below the mathematically justified price, will it be advisable
for farmers generally to hold their corn and cause a shortage at the
terminal markets? Will it be advisable to put out newspaper propaganda
showing the public how the market price of corn is below cost of
production, or put on an advertising campaign to increase the demand?
These matters of larger policy are mostly outside the field of
mathematics. They are largely matters of strategy. How much bargaining
force do the farmers represent? To what extent will they follow
directions? At what season of the year is it best to strike?
Generally speaking, a farmers’ drive for higher prices would best begin
about January 1st, and should reach its greatest intensity about March
1st. After March 1st, seasonal scarcity begins, and no further
propaganda is needed. A consumers’ drive for lower prices best begins
about August 15th, and reaches its greatest intensity about October
15th. After October 15th the seasonal surplus, especially of corn and
hogs, begins, and there is no further need for consumers to bring
artificial propaganda to bear. It is interesting to note in this
connection that the “bear” campaign engineered by the governments of the
world in 1919 began in late July and continued until about October 15th,
at which time the weight of the season’s marketings was sufficient to
hold prices down without additional use of newspaper space.
After a mathematical study of prices, the leaders of farm organizations,
in so far as they attempt to influence prices, must consider the state
of the export trade, rate of foreign exchange, ocean freights, world
crop conditions, business conditions at home and abroad, and, in fact,
all the factors which the trained speculators take into account on the
Board of Trade. They must take all of these things into account, and yet
be able on occasion to act decisively. They must learn to play the game
in the same fashion as a skillful whist player. They must not “overbid”
their hand, but bid its full worth, and they must take all the tricks
they can.
To have even a fair chance of success in an effort of this sort, farmers
must set up a very strong statistical organization, in charge of a
highly competent staff of thoroly trustworthy experts. For farmers
themselves have neither the time nor the opportunity to secure the
training necessary to enable them to acquire and assimilate the
information needed.
CAN “PRICE” MAKE “SUPPLY AND DEMAND”?
Dissatisfied farmers and city consumers have been told often that
“supply and demand” makes the price. Economists have backed up the Board
of Trade people and the packers in making this assertion.
But is it not almost equally true to say that “price” makes the “supply
and demand”? Is it not possible to set a price which, as can be
demonstrated mathematically, is out of line with the present supply and
demand, and thru this price to create new and unexpected
supply-and-demand conditions?
It is conceivable, for example, that oleomargarine might be sold for
several years at a price below that warranted by supply and demand and
equally below a price warranted by cost of production. It is conceivable
that the abnormally low price, without reducing the supply, would
increase the demand and result in the formation of the oleomargarine
habit among millions of people. And it is equally conceivable that later
on the price of oleomargarine might be increased more nearly to a parity
with butter, and that the oleomargarine eating public might continue the
oleomargarine, even tho it was underselling butter by only 10 cents a
pound, instead of the 15 cents a pound differential which was existing
when the habit was formed.
A low price may be used to create a demand, which will continue even
after the low price no longer exists. In like manner, a low price may be
used to curtail the supply of the competing article. In the
illustration, an artificially low price for oleomargarine might reduce
the demand for butter, thereby reducing the supply, and increase the
demand for oleomargarine, and this situation of a reduced supply of
butter and an increased supply of oleomargarine might continue, even tho
the price of oleomargarine were later raised to its customary
relationship with butter. Price may act as a cause and “supply and
demand” may be a result.
In open, competitive markets, “supply and demand” generally comes first
and price follows after. Before the war, for instance, the dominating
factor in the corn market was the supply of corn, and during the months
of July and August, when the new corn crop was being made, the price of
corn varied with almost mathematical accuracy with the rainfall and
temperature which were making the new corn crop. The demand for corn was
a fairly constant factor. The supply of corn was the price-making force.
Since the war, corn prices have not been the result of “supply and
demand” in the sense that they were before the war. During 1919, price
often came first in the corn market, and supply and demand followed
afterward. For example, in January and February, 1919, corn prices broke
20 cents a bushel, in spite of the fact that receipts at central markets
were decidedly below their customary level. Influential people had
postulated the theory that the war was over, and that supply and demand,
if given an opportunity, would operate to bring about a lower price
level. They set a lower price level, but supply and demand refused to
operate on the new level. The lower corn prices which prevailed during
the spring of 1919, however, probably had a very material effect on the
acreage planted. At any rate, there was about four per cent less corn
planted in 1919 than in 1918.
According to the customary view, when the supply is smaller than usual,
the price should be greater than usual, and vice versa. In the hog
market this does not necessarily hold true. In November of 1907, hog
prices were dropped with a terrific jerk, as a result of certain unusual
conditions. The drop was so great that farmers refused to market their
hogs, and receipts of hogs in November of 1907 were about one-third
smaller than in the ordinary November. The price of hogs was lower than
customary by about one-fourth, and the supply of hogs marketed was less
by about one-third. A similar situation prevailed in August of 1919.
Prices dropped about $5 per hundredweight, or faster than ever before in
history. Receipts also dropped, and much fewer hogs were received than
in the ordinary August.
In both 1907 and 1919, the packers figured that the business world was
so upset that to be on the safe side they would best buy their hogs
cheaper than they had been buying them. Farmers were slow to realize
just how great the disturbances had been in the business world, and
failed to understand that in a situation of this sort the packers could
put thru their program for lower prices, in spite of reduced hog
receipts for a month or two. It is in the very nature of things that the
packers can outlast the farmers at such a game. The packers know more
accurately than the farmers the supply-and-demand conditions, and they
know that after a hog reaches two hundred pounds, it is only a question
of weeks till the farmer will let him go, no matter what the price. It
will take an extraordinarily able farmers’ organization to beat the
packers at this game, an organization which holds as its trump card
“ultimate supply and demand.”
Prices may make supply and demand, and supply and demand may make
prices. First one has the lead, and then the other; they are constantly
acting and reacting. Before the war, the relationship in some
commodities might be expressed with almost mathematical exactness, but
there were constant little departures. Since the war prices have much
more often taken the initiative than they did before the war. The
result, of course, is a more violently fluctuating condition of both
supply and demand.
The problem which farmers and city consumers should put to the Board of
Trade people and the packers is: What are you doing to place prices at a
point which will result in a more uniform supply and a more uniform
demand?
COST OF PRODUCTION
The common man prefers to approach the question of price not from the
standpoint of supply and demand, but from the standpoint of cost of
production. The laboring man says that he has no quarrel with the
farmer, that in fact he is glad to pay the farmer what it costs him to
produce food. Most people take it for granted that the just price is
cost of production. In July of 1917, President Wilson gave his scholarly
definition of a just price: “By a just price I mean a price which will
sustain the industries concerned in a high state of efficiency, provide
a living for those who conduct them, enable them to pay good wages and
make possible the expansion of their enterprises which will, from time
to time, become necessary, as the stupendous undertaking of this great
war develops.”
The idea of a just price, covering cost of production and reasonable
profit, is considerably different from market price or supply-and-demand
price. The market price typically alternates considerably above and
considerably below the production cost of the bulk of the people engaged
in the enterprise. For instance, when prices go up and profits become
larger, new people are attracted into the business and production is
increased until finally there is more supply than there is demand, and
then prices have to go down and profits become losses, and the people
who can not produce except at the high prices must go out of business.
Both the farming world and the business world are composed of a great
many different men, each of whom is chasing a profit in his own way.
Many of these men are very short-sighted and are lured into an
apparently profitable business just at the wrong time, and in like
manner become discouraged with an apparently unprofitable business at
just the wrong time. Under the competitive regime, it is apparent to any
thoughtful business man that both in business and in farming the market
price or supply-and-demand price is almost never the same as cost of
production, but fluctuates in rather rhythmical manner, now above and
then below cost of production, tending to equal almost exactly, over any
long period of years, true production cost.
Under the market price or supply-and-demand price system as it has
prevailed, the constant tendency is for the wealthier people, both among
farmers and among business men, to increase their wealth at the expense
of the poorer people. Poor people who embark in general business or in
farming, no matter how intelligent, are likely to go into and come out
of any particular enterprise at just the wrong time. The average man who
is moderately well fixed and stays by a particular enterprise year in
and year out, manages to secure for himself just a little better than
ordinary wages. The man who is wealthy and expands his operations just
as prices are starting up, and reduces operations just as prices are
starting down, secures large profits.
The fluctuating price system, which means great profits to a wealthy
few, serious losses and wrecked lives for a few, and a bare livelihood
for many, is the natural result of the _laissez faire_ policy of the old
classical economists. Their idea was to let things alone, on the theory
that, let alone, prices would sooner or later adjust themselves to the
proper point. In practice, prices almost never reach a proper point, but
are constantly moving either above or below cost of production. One
hundred years of _laissez faire_ policy have demonstrated beyond a doubt
that under such a system the wealthy few inevitably become richer,
whereas the bulk of the people get just enough to keep them going.
The _laissez faire_, supply and demand, speculative, or market price
system, is condemned by nearly every one except the business men who run
it and believe they understand its beneficent workings, and the
economists of the classical type who, in their careful reasoning, are
unable to think of any other way of determining satisfactory prices over
any period of time. The common people and the lofty idealists were
greatly elated during 1917 and 1918 at the apparently successful working
of fixed prices established more or less in defiance of the speculative
or _laissez faire_ price system.
Those who have given the most thought to price fixing advocate as a
guide “cost of production plus a reasonable profit.” But what is cost of
production? Even in industries so well controlled by man as coal mining,
where the weather does not enter in, there are some mines that can
produce a ton of coal for two or three dollars, while other mines can
not produce a ton of coal for less than six or seven dollars. The North
Dakota wheat farmer, in a year of rust, may produce wheat at a cost of
four or five dollars a bushel, whereas the Kansas farmer the same year
may produce wheat at a cost of only a dollar or a dollar and a half per
bushel. Shall both the Dakota farmer and the Kansas farmer be paid cost
of production plus a reasonable profit for their wheat? From this
standpoint we see that there is no such thing as a standard cost of
production. A single producer may be able to determine his personal cost
of production of a given quantity under a given set of conditions. But
in the general sense, as it is commonly thought of, cost of production
is a will-o’-the-wisp, a creature that seems to exist but really does
not.
Nevertheless, there is a rough-and-ready method of determining cost of
production or just price as distinguished from _laissez faire_ or
supply-and-demand price. We refer to the ratio method of price
determination. Over a long series of years, cost of production plus a
reasonable profit is roughly expressed by the relationship which exists
between a raw product and the finished product. In rough form it may be
most easily grasped in the case of corn and hogs. Over any long period
of years, hogs sell on the Chicago market at a price per hundredweight
equal to the Chicago price of 11.5 bushels of corn. When hogs have sold
for fourteen bushels of corn, they have sold for more than cost of
production plus a reasonable profit, while, on the other hand, when they
have sold for nine bushels of corn, they have sold for less than cost of
production plus a reasonable profit. All this is not saying that certain
producers have not been able to make a profit when hogs have sold for
nine bushels of corn. Neither is it saying that certain producers may
not have been selling at a loss when hogs sold for as much as fourteen
bushels of corn. It is simply saying that it has required the pulling
power of a price for hogs which is equal to the price of 11.5 bushels of
corn to keep enough men in the hog business year in and year out to
supply the demand of this country for hog products during the past sixty
years. This is what we mean by the ratio method of price determination.
It is the only practical method of determining cost of production in
such a business as farming, where there are millions of producers
working under a variety of conditions.
We have the greatest respect for the old _laissez faire_ or speculative
method of price determination. It worked very nicely under competitive
conditions, such as existed before the war. No one knows as to whether
or not times now are right for adopting a different machinery thru which
the law of supply and demand may work. We offer the ratio method as a
method which is probably better adapted to a thoroly democratized
co-operative society than the old-fashioned _laissez faire_ method,
which was adapted primarily to a competitive society.
The spirit of the ratio method is highly technical. The examples given
in this book must necessarily be simple. But in actual practice, the
ratio method would necessarily become quite technical, requiring for its
administration highly specialized statisticians. At the present time
very few men are available for work of this sort. The ordinary man who
tries to fix prices by the ratio method is biased by either personal or
class interests. A notable example of this was the Chicago Milk
Commission, composed of leading citizens of the state of Illinois, which
sat from December, 1917, to February, 1918, and finally offered as a
method of milk price determination the ratio method. The majority of the
members of this Milk Commission were city people, and on that account,
consciously or unconsciously, they twisted the ratio method so as to
bring about a low price for milk. If the majority of the commission had
been farmers, they could have twisted the ratio method to bring about a
much higher price for milk. But there are now, and in the future will be
more, men properly trained in the weighting of agricultural index
numbers, who can look into matters of this sort with a scientific nicety
and determine prices by the ratio method with the greatest accuracy, by
which we mean the minimum of bias toward either producer or consumer.
It is our intention in this book to indicate ways of securing ratio
prices for various agricultural products. The methods outlined in
succeeding chapters are definite and exact; we grant, however, that they
may be made more comprehensive and be further refined so as to cover
their respective fields in more effective fashion.
RATIO METHOD OF DETERMINING COST OF PRODUCING HOGS
The ratio method of price determination was first publicly recognized in
the United States by the Food Administration, in November of 1917. A
commission of seven swine men had been appointed by the Food
Administration to determine the cost of producing hogs, and in
submitting their report the commission adopted practically without
change the ratio method of price determination as advocated in Wallaces’
Farmer during the summer and fall of 1917. The commission, composed of
expert swine men from all over the United States, after a careful
technical survey of the situation and consideration of the figures
submitted by the author, came to the conclusion that the ratio method
actually expressed cost of production more simply and accurately than
any other method.
In its simplest form, the hog producer of fifty years ago grasped the
ratio idea. Without any statistical investigation, the swine growers of
those days came to the conclusion that they could make money when they
sold their hogs for a value per hundredweight of more than the value of
ten bushels of corn. For a generation or two, hog men looked on a ratio
of ten bushels of corn to one hundred pounds of hog flesh as about
right, altho they felt that such a ratio might not cover risk.
From an exact statistical standpoint, take the ten-year period extending
from 1907 to 1916, inclusive. During that time No. 2 Chicago corn
averaged 66.3 cents a bushel, whereas hogs averaged $7.53 per
hundredweight. The ratio for that particular ten-year period was 11.4
bushels of Chicago No. 2 corn to equal in value one hundred pounds of
Chicago hog flesh. How uniform is this ratio between corn and hogs from
decade to decade may be judged from the following table, which gives the
ratios as they have prevailed year by year for the past sixty years, and
the average by decades. The second column shows the number of bushels of
corn required each year to equal in value one hundred pounds of live
hog:
1858–1867.
1858 8.7
1859 7.1
1860 12.4
1861 14.0
1862 10.0
1863 7.0
1868–1877.
1868 9.5
1869 14.0
1870 11.9
1871 10.2
1872 11.1
1873 12.3
1864 7.3
1865 16.3
1866 16.2
1867 7.2
————
Ten-year average 10.6
1874 8.9
1875 11.8
1876 15.3
1877 11.5
————
Ten-year average 11.7
1878–1887.
1878 9.7
1879 10.3
1880 12.3
1881 12.1
1882 10.9
1883 11.3
1884 10.5
1885 9.7
1886 11.1
1887 12.4
————
Ten-year average 11.0
1888–1897.
1888 12.3
1889 12.5
1890 9.9
1891 7.4
1892 11.8
1893 16.5
1894 11.6
1895 10.8
1896 10.7
1897 14.2
————
Ten-year average 11.8
1898–1907.
1898 14.6
1899 12.0
1900 13.2
1901 11.8
1902 11.6
1903 13.0
1904 10.2
1905 10.4
1906 13.4
1907 11.4
————
Ten-year average 12.2
1908–1917.
1908 8.4
1909 11.3
1910 15.2
1911 11.2
1912 10.9
1913 13.2
1914 11.7
1915 9.6
1916 11.5
1917 9.7
————
Ten-year average 11.3
To refine the method to meet market conditions, we need to know the
ratio between corn and hogs at different seasons of the year. There are
seasonal periods of over-supply and scarcity of both corn and hogs. In
November, for instance, the 1907–1916 price of corn was 67.2 cents and
the price of hogs $7.23, or a ratio of 10.6 bushels to one hundred
pounds of hog flesh, while in March of the ten-year period the average
price of corn was 61.7 cents and the price of hogs $7.66, or a ratio of
12.4 bushels of corn for one hundred pounds of hog flesh. In like
manner, there is a fairly normal ratio for each month of the year and
for each week of the year. All this is on the assumption that hogs are
simply condensed corn. It does not take into account the fact that hogs
have been made out of corn at varying values during a period of about a
year preceding time of marketing. Obviously, then, we must have a
composite corn value. In matters of this sort, statisticians know that
it is absolutely impossible to weight matters so as to represent actual
conditions, but at the same time they know that absolute accuracy is not
at all essential, that in fact a difference in weighting will ordinarily
make very little difference in results.
While the author personally recommended to the commission appointed by
the Food Administration to investigate cost of producing hogs, a
slightly different weighting, yet nevertheless we will use here the
weighting recommended by that committee. The committee assumed that the
corn going into the making of a hog was distributed over twelve months;
that during the first month 2 per cent of this corn went into the hog or
its dam; the second month, 2 per cent; third month, 2 per cent; fourth
month, 3 per cent; fifth month, 4 per cent; sixth month, 6 per cent;
seventh month, 5 per cent; eighth month, 9 per cent; ninth month, 15 per
cent; tenth month, 20 per cent; eleventh month, 17 per cent, and twelfth
month, 15 per cent. Securing composite corn values by this kind of
weighting, we find that as an average of the ten-year period, 1907–1916,
the January ratio was 11 bushels; February, 11.6 bushels; March, 12.4
bushels; April, 12.7 bushels; May, 12.3 bushels; June, 12.1 bushels;
July, 12 bushels; August, 11.8 bushels; September, 11.8 bushels;
October, 11.3 bushels; November, 10.6 bushels, and December, 10.4
bushels.
[Illustration:
Illustrating the departure of actual Chicago hog prices from the
ten-year standard ratio, corrected seasonally.
]
For sake of example, determine cost of producing hogs for the Chicago
market for the month of April, 1918. Corn values month by month,
beginning April, 1917, were as follows: 144.9 cents, 163.9 cents, 170.7
cents, 200 cents, 197.2 cents, 208.6 cents, 199.2 cents, 201 cents,
173.2 cents, 180.6 cents, 174.5 cents, and 172.3 cents. Weighting these
on the basis indicated, we get a composite value of corn of 182.5 cents.
The historical ratio for the month of April is 12.7 bushels of such
composite corn. Multiply 182.5 cents by 12.7, and we secure $23.18 as
the cost of producing hogs for the Chicago market in April of 1918,
under the ten-year ratio method. The actual price was $17.45, or a loss
of $5.73 per hundredweight. The chart which is published herewith
illustrates graphically results secured in the same manner for every
month during the ten-year period beginning 1907.
Ordinarily, Chicago No. 2 corn measures very accurately the changes in
corn value on the farm, the corn out of which hogs are actually made.
During part of the winter of 1917–1918, Chicago No. 2 corn ceased to be
quite such an accurate measure as usual, for the reason that the quality
of the crop was so poor that only a small amount of corn graded No. 2,
and for the further reason that there were severe transportation
difficulties.
Some people have urged not using Chicago No. 2 corn values, but corn
values on farms as reported to the United States Department of
Agriculture, monthly, by crop reporters. This price is no doubt compiled
with considerable accuracy, but is open to objection for the reason that
it does not represent a uniform grade. In soft corn years, a bushel of
corn as valued by crop reporters on farms is poor stuff. In such years,
there is always a wider spread between the farm value of corn and the
Chicago No. 2 value than in years when the quality is good. It might do
fairly well to take farm values of corn and farm values of hogs if
definite grades could be established. If they can not be, it is probably
best to take Chicago values of No. 2 corn and heavy hogs as a basis,
making allowance occasionally when exceptional conditions arise in the
way of artificial prices temporarily created by transportation
difficulties, and remembering always that the true point at issue is to
apply a ratio between certain grades of actual feed on the one hand and
a certain grade of hogs on the other. This is a technical matter which
really can not be decided by lawyers or business men, however competent
such men may be to run a food administration or a department of
agriculture, or by farmers, however competent such men may be to feed
hogs. It is a matter which must be handled by men who understand markets
and who have had sufficient economic training so that they understand a
little something of the making of index numbers, and who have had
sufficient touch with agricultural conditions so that they understand a
little something of the technique of feeding hogs.
Soon after the report of the commission on cost of producing hogs, the
Food Administration announced among other things that it would do its
best to pay hog producers, for a hundred pounds of hog flesh, the
equivalent of thirteen bushels of the corn which went into these hogs,
the ratio system to apply to hogs farrowed in the spring of 1918. It was
expected that there would be an urgent need for hog products during
1919, and it has generally been regarded that this announcement of the
Food Administration was wise. The thirteen-bushel ratio was 13 per cent
over the historic ratio, and encouraged the transforming of a larger
amount of corn into hogs than usual.
When it came to putting the thirteen-bushel ratio into effect, in the
fall and winter of 1918–1919, the Food Administration did all in its
power to squirm out of living up to its guarantee. First, the effort was
made, in the month of September, 1918, to make it appear that the
thirteen-bushel ratio was based on a ratio between farm corn prices and
Chicago hog prices, in spite of the fact that the pamphlets originally
issued by the Food Administration to farmers of the corn belt in
November of 1917 explained the ratio on a basis of Chicago corn prices
and Chicago hog prices. By using farm corn prices, the Food
Administration secured a figure of about $2.50 per hundredweight lower
than if the thirteen-bushel ratio had been applied literally as
described in the original pamphlets. The Food Administration, however,
claimed that it could not live up to its original guarantee, because the
export prices of pork would not justify it. In this respect, it is
interesting to note that in August of 1918, just before the Food
Administration took up this matter of carrying out its thirteen-bushel
guarantee, Great Britain reduced its maximum price on American bacon by
about $12 per hundredweight. It is also interesting to note that the
British Food Administration was making money on its handling of pork
products, altho it was losing money on its wheat. Those American
producers who were most familiar with the situation believed that there
was a concerted effort by the American and British food administrations
to buy the large American hog crop, which had been secured by the
thirteen-bushel guarantee, as cheaply as possible, avoiding its
guarantee with such chicanery and deceit as an experienced business man
knows how to use in case of emergency.
The committee of some fifteen men, supposedly representing the American
hog producers, which met with the United States Food Administration in
this matter, were not well educated along statistical or economic lines,
and they went down to defeat in September, 1918, scarcely realizing just
what the Food Administration had done to them. Only two members of this
committee had served on the original commission, and it was impossible
for them to give the other members a full comprehension of what the
ratio meant. When the facts became known, widespread indignation among
the farmers of the corn belt compelled the Food Administration to
abandon the hypocritical pretense of living up to the thirteen-bushel
ratio and come out flatly for a $17.50 minimum, which was really a ratio
of 10.8 bushels. The Food Administration was able to thus repudiate in
part its definite obligation to hog producers, because there were no
thoroly organized farmers with leaders trained to think in terms of
statistics and economics.
The author does not care to create a prejudice against the Food
Administration. It probably did its work as efficiently as any branch of
the government during the war. The sole purpose is to point out to
agricultural students the extreme disadvantage under which farmers labor
in bargaining with other classes of society. It is hoped that as farmers
learn to follow the example of keen business men and employ trained
experts to look after their interests, and as farm leaders become better
trained in statistics, economics and business principles, this
disadvantage will disappear.
SUPPLY AND DEMAND VERSUS COST OF PRODUCTION
What makes hour-by-hour and day-by-day prices under _laissez faire_
conditions is not cost of production, but that brute force which we call
“supply and demand.” In its blind groping, this force necessarily
approximates cost of production as an average of any long period of
time. But it never specifically recognizes cost of production as a
factor which should be considered. It approximates cost of production
because it has to, not because it wants to.
An illustration of the strategy of the hog market is a case in point.
Imagine a Monday hog market in early March, at which season of the year
prices are generally rising. Suppose that instead of the accustomed
40,000 Monday hog run, 60,000 have been received. Suppose that, owing to
car shortage or some other reason, eastern shippers are out of the
market. There is a larger supply than usual and a smaller demand, and
prices decline 15 or 20 cents a hundredweight, perhaps very much more.
“Supply and demand,” say the packers and practical economists, with
unction. But at that very time every one may know that the potential
supply in the country is very small, and the potential demand is very
great. At that very time this wider situation may be taken fully into
account by the packers in the prices which they are charging for their
products to the retailers. The hog market may have broken 15 to 20
cents, but the lard, ham and bacon markets may have held steady or even
advanced.
The packers, in the prices which they pay for live hogs and the prices
which they charge for hog products, are governed chiefly by strategic
considerations. Day by day they change their prices to meet the surface
indications of changing supply and demand conditions. They may sometimes
exercise such poor strategy that they will be compelled to manufacture
hog products at a loss for a time. The prime consideration is to buy as
cheaply as possible and to sell as high as possible and yet meet the
competition, which is rather more active than many farmers have
supposed.
Now it is obvious that a ratio system of hog prices is not compatible
with the system employed by the packers, or by any typical business man,
for that matter. Big business enjoys a speculative profit which comes
with fluctuating prices. But a daily fluctuating price is not consistent
with the idea of a just price or a cost-ofproduction price. If the
packing business were a monopoly under government control, stabilized
prices under the ratio system might be paid with some degree of
satisfaction, provided we assume that the governmental authorities have
a real insight into market conditions and a thoro understanding of the
ratio system of price judgment as related to supply and demand. Under
the present regime, however, it is difficult to see much prospect of hog
prices ever being stabilized, for the reason that under a _laissez
faire_ system business profits result from fluctuating prices, those
businesses profiting most which are best organized and most long-lived,
and are able to take strategic positions over long periods of time.
What would happen if cost of production were to be paid in the hog
market day by day, year in and year out? By cost of production is meant
the 11.5-bushel ratio, modified seasonally. Packers can think of many
objections. For instance, they can conceive of periods of a year or two
at a time when the 11.5-bushel ratio would necessitate paying the
farmers more for their hogs than they could get for the meat. Equally,
they can see how it might be that for periods of a year or two at a
time, they would be able to get out of the consumers a price equivalent
to considerably more than the 11.5-bushel ratio. Admittedly, these
objections are sound under present conditions; supply-and-demand price
is the only price adapted to the _laissez faire_ situation.
If farmers as a class are to secure cost of production for their hogs
month after month and year after year, they must organize into powerful
associations to do business co-operatively. They must control the supply
of hogs with an iron hand and an intelligent head. They must be willing
to play fair with the consumers and not charge more for their hogs than
the ratio of the past sixty years. In fact, it is conceivable that they
might be able to sell their hogs at slightly less than the 11.5-bushel
ratio of the past sixty years. If the organization was really powerful
enough to enforce the cost-of-production ratio over any period of time,
the market risk, which has been a very serious factor in the past, would
disappear. This risk has been such a factor that it is quite possible
that farmers would be willing to produce enough hogs to satisfy the
market at an eleven-bushel ratio if the risk no longer existed. The
author estimates that as an average of the past sixty years the
consuming public has been paying at least 50 cents per hundredweight
more than necessary for its hog products. This extra 50 cents has been
in the nature of risk insurance.
It is conceivable that both farmer producers and city consumers might
organize to carry this risk between them, the city consumer co-operative
organizations agreeing in advance to take a certain number of pounds of
hog products, and the farmer producing organizations agreeing to furnish
such a quantity of hog products on the basis of a corn-hog ratio
representing cost of production.
CATTLE PRICES AND THE RATIO METHOD
A ratio between corn and cattle does not represent cost of production
nearly as accurately as a ratio between corn and hogs. However, such a
ratio, when worked out and applied over a long period of years, reveals
the interesting historical fact that the swings in cattle prices above
and below the ratio line are periods of about seven years each way.
A more accurate method is to take into account the fact that fat cattle
as produced in the corn belt and marketed at Chicago are commonly made
out of feeders which were bought a few months previously, taken to the
farm, and finished chiefly on corn, together with a little in the way of
pasture, hay, silage and concentrated feeds, such as cottonseed meal and
oil meal.
As an average of the ten-year period, 1906–1915, ordinary 1,000-pound
feeders on Chicago, in October, cost $51.20. As an average of the
ten-year period, these same 1,000-pound feeders, as ordinary,
well-finished fat steers weighing 1,300 pounds each, sold the following
April for $98.35. During this ten-year period it seemed to take $47.15
to cover the cost of feed, risk, labor, etc., of bringing a 1,000-pound
feeder to 1,300-pound fat condition. Ordinarily, it is substantially
accurate to measure these things in terms of corn only. During the
ten-year period under consideration, the weighted price of corn was 61.5
cents. Dividing $47.15 by 61.5 cents equals 76.7 bushels. As an average
of the ten-year period it has required the value of 76.7 bushels of
weighted corn to make a 1,000-pound feeder, bought in October,
moderately fat for the Chicago market the following April. The corn is
weighted on the theory that the steers consume 8 per cent of it the
month after they are bought, 15 per cent the second month, 20 per cent
the third month, 20 per cent the fourth, 20 per cent the fifth, and 17
per cent the last month. Applying the ten-year ratio to the specific
month of April, 1918, we find that a 1,000-pound feeder in October,
1917, cost $84, and the value of 76.7 bushels of composite corn was
$139.40, making a total cost of the finished 1,300-pound steer, $223.40.
The actual selling price in the month of April, 1918, was $199.55, or a
loss of about $23.85 per steer. Applying the same method month by month,
we get the chart as herewith published. It expresses profits and losses
with a fair degree of accuracy to the ordinary cattleman who buys
feeders at the central market and feeds them for five to seven months,
largely on corn. During the winter of 1917–1918, the chart was not quite
so accurate as usual, for the reason that the other expenses did not
mount at this time as rapidly as corn. While heavy losses were incurred
by cattle feeders, they were not so great as indicated in the chart.
[Illustration:
Illustrating the departure of prices of 1,300-pound native steers at
Chicago from the ten-year ratio.
]
The profits and losses of the big cattlemen of the far-western and
southwestern states are not to be measured by such a chart. Their chief
expenses are labor and the cost of pasture. Weather conditions affect
them directly, whereas weather conditions in the corn belt affect cattle
profits indirectly, thru the price of corn. During 1917 and 1918, the
western cattle men, with the exception possibly of those in certain
sections of the southwest, which suffered from unprecedented drouth in
1917, made unusually good profits. As a class, their profits were
probably not as large as the profits of the grain-growing farmers of the
middle-west, but were far larger than the profits of the cattle feeders
of the middle-west.
PACKER PRICES AND THE RATIO METHOD
The Chicago packers buy hogs as cheaply as they can and sell the pork as
high as they can. Nevertheless, for months at a time they may sell pork
products at a loss. Over any long period of time there is a fairly
constant ratio between the value of one hundred pounds of live hog flesh
and one hundred pounds of lard, ribs or other standard hog products. To
simplify matters, and for purposes of illustration, we will consider
that standard hog product, dry salt ribs, which makes up about 35 per
cent of the live hog.
* * * * *
As an average of the ten years from 1886 to 1895, dry salt ribs
(low-grade bacon) sold for the value of 136 pounds of live hog. During
the ten-year period from 1896 to 1905, ribs sold for the value of 137
pounds of live hog. During the ten-year period from 1906 to 1915, they
sold for the value of 135 pounds of live hog. But while this ratio is
quite constant over any long period of time, it varies considerably
according to the season of the year. As an average of the ten-year
period of 1907–1916, the ratio was 136 pounds in January, 132 pounds in
February, 127 pounds in March, 126 pounds in April, 133 pounds in May,
137 pounds in June, 137 pounds in July, 137 pounds in August, 135 pounds
in September, 136 pounds in October, 140 pounds in November, and 139
pounds in December. In April of 1918, hogs averaged about $17.45 per
hundredweight. Using the standard ratio for the month of April, of 126
pounds of live hog for one hundred pounds of ribs, we would get as the
hog price of ribs $21.97. The actual price was about $23.21, or the
packers got for the dry salt ribs in the month of April, 1918, about
$1.24 more than the customary ratio. The chart tells the story,
extending from 1905 to 1919. The black area above the line might be
called packers’ profits and the black area below the line packers’
losses on the manufacture of ribs. As a matter of fact, the packers’
profits in the latter part of 1917 and early in 1918 were probably
larger than indicated. This method assumes that the packers’
manufacturing charges rise and fall in the same ratio as hog prices rise
and fall. In the rough way, over any long period of time, this is
approximately true, but it was probably not true in late 1917. Hog
prices at that time were over 200 per cent of the ten-year period,
whereas packers’ manufacturing costs were probably not in excess of 170
per cent of the ten-year period.
It is conceivable that as the packing business becomes even more
centralized and further improvements in the use of by-products are
discovered, it may be possible for packers to sell short-ribs, as an
average of a ten-year period, for a price no more than the cost to them
of 133 pounds of hog flesh. Under conditions as they prevail at present,
however, the 135-pound ratio is approximately correct.
[Illustration:
Illustrating when short-rib sides have been above and below their
ten-year average ratio to live hog prices.
]
The ratio method of determining profits and losses in the manufacture of
various packers’ products is not put forward as an aid in any method of
packing house accounting. It is, however, put forward as a method by
which the consumer and the farmer can discover in a rough way when the
packers are absorbing more than their customary share.
A similar chart worked out for lard gives much the same results, altho
at times the profit and loss of the two products do not always coincide
exactly. For instance, in 1914, lard sold for far less than its normal
ratio during the entire year, whereas ribs sold for slightly more than
their normal ratio. In 1919, lard sold far above its normal ratio and
ribs were below. Similar ratios might be worked out for all the various
hog meats, and also for cattle and the various cuts of beef. What
examination we have made of some of these ratios indicates that the
packers, in their buying of live stock and selling of products, regard
each product as a law unto itself. If there is a large amount of stored
lard on the market, on account of the shutting off of the German demand,
lard prices may be reduced, even tho hog prices are such as to warrant
lard selling at a dollar or two more per hundredweight. On the other
hand, if the Allies at the same time are in the market for ribs, the
prices will be advanced, even tho ribs may be made from hogs at a dollar
or two less per hundredweight. The problem of the packers is to buy as
cheaply as possible and sell as high as possible, in the knowledge that
too wide a spread will invite competition. In the case of hog products,
a loss may be withstood on a rapidly rising market, because the
manufacturing loss will be compensated for by the speculative profit.
This was illustrated during a considerable part of the year 1917, when
most hog products sold at considerably less than their normal ratio, but
when the packers actually made splendid profits, owing to the continual
advance of prices and speculative gain on products on hand.
In normal times we regard charts based on principles as stated in this
chapter as approximately accurate in measuring packers’ profits and
losses in the manufacture of given products.
It is conceivable that the normal lard ratios may go lower in the near
future. Corn oil, cocoanut oil, cottonseed oil and other tropical
vegetable fats are being used as lard substitutes, and as a result lard
may sell decidedly below its normal pre-war ratio to hogs. However, in
this case the bacon hog will gain in popularity and the supply of lard
will be curtailed to a point which will justify a ratio almost as great
as existed before the war.
MILK PRICE DETERMINATION
Just what price farmers should get for their milk has been a peculiarly
vexing question. Before the war, farmers selling milk to city dealers
were in an unusually weak bargaining position. When their position
became intolerable, they organized into powerful bargaining
associations, many of which were said to be illegal under strict
interpretation of the law.
One of the earliest formed and most powerful of these producers’
associations has been the Chicago Milk Producers’ Association, numbering
16,000 members and controlling most of the milk that is shipped into
Chicago or manufactured in the district immediately around Chicago.
During the years immediately preceding the entry of the United States
into the great war, this association bargained directly with the Chicago
milk dealers as to what prices the farmer members of the association
could get for their milk. They held a successful strike in April of
1916, and thereafter the Chicago milk dealers seemed to regard the
association with considerable respect. The city press and the city
politicians, however, felt that the farmers were too high-handed in
their disregard of certain laws, and forthwith began agitation which
finally resulted in indictments against the leaders in the Producers’
Association.
In the fall of 1917, the milk producers adopted as their guide in
arriving at milk prices what has been called Pearson’s formula.
According to this formula, the cost of producing a hundred pounds of
milk in the Chicago milk district is equal to the cost of 44 pounds of
grain, plus 188 pounds of silage, plus 50 pounds of hay, plus 39 pounds
of bedding, plus 2.42 man hours of labor. To the valuation thus secured,
certain differentials were to be applied to each month of the year, the
widest differential being 120.3 per cent, in December, and the narrowest
70.6 per cent, in June. This formula was devised by Professor F. A.
Pearson, of the Dairy Economics Division of the University of Illinois,
after several years of actual cost-accounting work in the Chicago milk
district. It really represents actual cost of production on a large
number of farms in certain specific years. Using Pearson’s formula as a
guide, the Chicago milk producers asked the dealers $3.71 per
hundredweight for their milk in November, 1917. The dealers refused, and
a strike was declared. The Food Administration intervened in an
unofficial way and induced the producers to agree to a price of $3.22
per hundredweight, pending an investigation by the federal government as
to a price which should cover cost of production and a reasonable
profit.
The Food Administration appointed as a committee to determine cost of
producing milk plus a reasonable profit, six people of essentially city
interests and three people of essentially agricultural interests. This
committee took testimony during the months of December and January, and
in their report took as a guiding principle in determining the cost of
producing milk the ratio method. Early in December, the author was asked
to present to the commission a profit and loss chart on milk produced in
the Chicago district since January, 1907, the profits and losses being
based on ratios between milk prices per hundredweight on the one hand,
and a composite of corn, oats, bran, cottonseed meal, gluten feed, hay,
and labor prices on the other hand. These latter ingredients were
weighted roughly as in the Pearson formula, but corn was given greater
emphasis. Incidentally, it is interesting to note as corroborative both
of the ratio method and the cost-of-production method as employed by
Professor Pearson, that the two methods give very similar results. Of
course, it is conceivable that if Professor Pearson had made his
cost-accounting investigation in a year either of extremely good pasture
or extremely poor pasture, the two methods would not agree. But taking
as he did fairly average years, the results check very closely.
While the Chicago Milk Commission adopted the principle of the ratio
method, it did so with certain modifications. To illustrate the method
as adopted by the Chicago Milk Commission, we quote from the report as
follows:
“The commission has therefore selected as a base, representing cost of
production and a fair profit, the average sale price per one hundred
(100) pounds over the years 1908 to 1915, inclusive. The result of
course does not represent present value, due to the large advance in
cost of feed and labor since that time. The quantity of feed and labor
per one hundred (100) pounds of milk, however, is the same in both
periods. Considering the eight-year period as a base and distributing
feed and labor on a basis of 100 per cent total, the commission
developed the following ratio: Nineteen per cent home-grown grains, 19
per cent mill-feeds (wheat, bran, wheat middlings, hominy, cottonseed
meal, oil meal, gluten feed, dry salt), 35 per cent hay (including
silage valued at the ratio of three tons of silage to one ton of hay),
27 per cent labor.
“It was agreed by the commission that variations in the prices of those
four units represent with sufficient accuracy, when applied according to
the above ratio, the increase or decrease in the cost of production of
milk. The only criticism made to this base or this plan was by a
minority of the members of the commission, that the price to the
producer during the eight-year period referred to was not satisfactory
to them.
“From the monthly price reports issued by the Department of Agriculture,
the farm prices of home-grown grains and hay are obtainable, and from a
reliable trade journal published in Milwaukee the wholesale prices of
mill-feeds are obtainable. The average over the eight-year period from
these records is as follows: Corn, $1.107 per hundred pounds;
mill-feeds, $1.306 per hundred pounds; hay, 55.7 cents per hundred
pounds.
“It appears fair to the industry that it is entitled to the same
proportionate increase in the price of its product as has occurred in
the elements which make up the product. From the records of the
Department for November, 1917, the beginning of the period under
consideration, the following prices prevailed, obtained from the same
sources: Corn, $3.089 per hundred pounds; mill-feeds, $2.3655 per
hundred pounds; hay, 78 cents per hundred pounds.
“The commission has considered from the evidence and such information as
was obtainable that the price of labor in November represents 50 per
cent advance over the average for the eight-year period. Using the
proportion of feed and labor and prices over the eight-year period, and
comparing with November prices from the same source of information and
on the same products, we find the following ratio of increase:
═══════════╤═══════════╤═══════════╤═══════════╤═══════════╤═══════════
│ Basic │Eight-year │ November, │ Pct. │New Index.
│ Index. │ period │ 1917, │ increase │
│ │ average. │ price. │Nov., 1917,│
│ │ │ │over 8-year│
│ │ │ │ period. │
───────────┼───────────┼───────────┼───────────┼───────────┼───────────
Corn │ 19│ $1.107│ $3.089│ 179│ 53.01
Mill-feeds │ 19│ 1.306│ 2.3655│ 81.1│ 34.41
Hay │ 35│ .557│ .780│ 40│ 49.00
Labor │ 27│ │ │ 50│ 40.50
───────────┼───────────┼───────────┼───────────┼───────────┼───────────
│ 100│ │ │ │ 177
───────────┴───────────┴───────────┴───────────┴───────────┴───────────
“The average price of milk per one hundred (100) pounds for the month of
November, from 1908 to 1915, inclusive, was $1.768. Applying the new
index ratio of 1.77, the November, 1917, price would be, therefore,
$3.13. In the same manner, the price for any month may be determined by
taking the average price over the eight-year period for that month and
multiplying it by the index figure, 1.77. It will be noted that by the
use of this method the _ratio_ of the costs of feed and labor between
the average of the eight-year period and the November, 1917, period, is
used rather than the actual prices of the commodities.
“The average monthly prices of milk per hundred pounds over the
eight-year period were as follows: November, $1.768; December, $1.812;
January, $1.781; February, $1.737; March, $1.60; April, $1.406; May,
$1.15; June, $1.017. Applying this index, 1.77 November price, to these
figures: November, $3.13; December, $3.20; January, $3.15; February,
$3.07; March, $2.83; April, $2.49; May, $2.04; June, $1.80.”
[Illustration:
Illustrating when Chicago milk prices have been above and below their
ten-year average ratio to feed and labor prices.
]
This report was signed only by the city members of the commission. The
agriculturally-minded members and the Chicago milk producers knew that
the prices secured by the ratio method as advocated by the commission
were not high enough to cover cost of production. The fault was in the
method of application. Hay and labor between them were made to
represent, according to the commission, 62 per cent of the total cost of
producing milk, which is altogether too high a weighting. This bad
weighting was made worse because of the fact that thoroly up-to-date
figures on hay and labor were not available, and the figures which were
taken were far lower than those existing at the time when the report was
actually published. The converting of silage into terms of hay instead
of into terms of corn is a matter open to grave question in view of the
fact that silage production costs are almost identical with corn
production costs, and the alternative market for silage is the corn
market and not the hay market. Several other mistakes were made which
might have been avoided if the method had been applied by a thoroly
impartial body well versed in the technique of dairying as well as the
weighting of agricultural index numbers. The unjust prices secured by
the commission should not be blamed on the ratio method, but on the way
in which it was applied. The finest scales are not dependable in the
hands of an ignorant or a dishonest man.
We present herewith a historical milk chart indicating profits and
losses from January, 1908.
A full description of the derivation of the Pearson formula is to be
found in Bulletin No. 216 of the Illinois Experiment Station.
COST OF PRODUCING CROPS
There are two methods of determining the cost of producing crops—the
cost-accounting method and the ratio method. The common method is the
cost-accounting system, as employed by farm management investigators.
For example, it has been found that the average farmer in the corn belt
puts about twenty hours of man labor and fifty hours of horse labor on
the average acre of corn. This divides up roughly into three hours of
man labor and twelve hours of horse labor for plowing, three hours of
man labor and twelve hours of horse labor for disking and harrowing,
three-fourths of an hour of man labor and one and one-half hours of
horse labor for planting, six hours of man labor and twelve hours of
horse labor for cultivating, six hours of man labor and twelve hours of
horse labor for husking, two hours of man labor and five hours of horse
labor for manuring and miscellaneous. In addition to the man and horse
labor charges are machinery expense, seed, manure or fertilizer,
insurance and depreciation on the general overhead charges, and the rent
of land. With man labor at 35 cents an hour, horse labor at 18 cents an
hour, land rent at $12 an acre, and machinery and miscellaneous expenses
at $4 an acre, the total cost of producing an acre of corn in 1919 was
about $32. On extra good land, the rent was as high as $18 or $20 an
acre, and the cost of an acre was increased accordingly. However, on
extra good land the yield was decidedly above the average. The average
acre yield in Iowa in 1919 was forty bushels, or the cost of producing a
bushel of corn was roughly 80 cents on the farm in the month of
December. The 1919 crop was decidedly above the average; with an average
crop it would have cost the Iowa farmer right around 90 cents a bushel
in such a year as 1919.
The ratio method when applied to corn corroborates the farm management
investigational method. The ratio method is based on the supposition
that the cost of producing corn varies with the cost of man labor, horse
labor and machinery. For the sake of convenience, it is taken that the
cost of horse labor varies with the price of corn, oats and hay, and
that the price of agricultural machinery varies with that part of Dun’s
index known as metals. Roughly, it is figured that of the cost of
producing corn in Iowa, 35 per cent is represented by land charge, 20
per cent by man labor, 15 per cent by corn (used either as seed or fed
to horses), 10 per cent by hay fed to horses, 5 per cent by oats fed to
horses, 10 per cent by Dun’s metals, and 5 per cent by Dun’s
miscellaneous. Dun’s metals are given a lag of two years, and Dun’s
miscellaneous of one year, owing to the fact that machinery and the
miscellaneous overhead expenses entering into the cost of corn
production become felt rather slowly.
Applying the ratio method, we will take as our base the ten-year period
from 1897 to 1906. During this period Iowa land averaged about $50 an
acre; harvest labor, without board, $2 a day; corn, 29.4 cents a bushel;
hay, $5.47 a ton; oats, 23 cents a bushel; Dun’s metals, about $14, and
Dun’s miscellaneous, about $15. The average acre of Iowa corn during
this ten-year period was worth on a December 1st farm basis $10.
Now, in 1919, Iowa land was worth about $192 an acre, or 384 per cent of
the basic ten-year period; man labor, without board, at harvest time was
around $5.20 a day, or approximately 260 per cent of this ten-year basic
period. In like manner, corn was 410 per cent; oats, 280 per cent; hay,
330 per cent; Dun’s metals, 230 per cent, and Dun’s miscellaneous, 230
per cent. If land is allowed a weighting of 35 per cent; man labor, 20
per cent; corn, 15 per cent; hay, 10 per cent; oats, 5 per cent; Dun’s
metals, 10 per cent, and Dun’s miscellaneous, 5 per cent, we arrive at
329 per cent as the cost of producing an acre of corn in 1919, as
compared with 100 per cent for the basic ten-year period. In the basic
ten-year period, an acre of corn actually sold for $10. In 1919, in
order to come as near breaking even as in the basic ten-year period, an
acre of corn should sell for $32.90. The ratio method gives almost
identically the same results as the farm management method. Both
indicate that it cost the average Iowa farmer in 1919 about 80 cents to
produce a bushel of corn on a basis of December 1st farm values.[4]
The ratio method may be applied to other crops by using a somewhat
different weighting of the production factors. In the case of oats in
Iowa, for instance, land may be given a weighting of about 35 per cent;
man labor, 15 per cent; corn, 10 per cent; hay, 10 per cent; oats, 15
per cent; Dun’s metals, 10 per cent, and Dun’s miscellaneous, 5 per
cent. This would indicate that oats in Iowa in 1919 cost about 324 per
cent as much as in the basic ten years. In the basic ten-year period,
the average acre of oats in Iowa sold for $8. We may therefore conclude
that the cost of producing oats in 1919 was 324 per cent of $8, or
$25.92. With an average yield of thirty-three bushels per acre, the cost
per bushel was about 78 cents on a December 1st farm basis.
Manifestly, the weak point in the ratio method of determining cost of
producing crops is the character of the basic period. Did the crops
actually sell during the basic ten-year period for cost of production?
Manifestly, in some years they sold for less, and in some years they
sold for more. As an average of the entire ten-year period, they must
have sold for at least cost of production, or farmers would gradually
have reduced their acreage of the particular crop under consideration,
or else gone out of business entirely. As a matter of fact, in the
ten-year period under consideration, 1897–1906, land values were
constantly advancing. It would seem, on the whole that this particular
ten-year period is a fair one to use, and that as an average of these
ten years crops sold for approximately cost of production, no more, no
less.
It is always conceivable that over long periods of time there might have
occurred changes in supply or demand conditions that would make the
basic ten-year period altogether false for the purpose of comparison.
For example, in the case of oats, it is conceivable that tractors,
trucks and automobiles might so displace horses as to make the city
demand for oats decidedly less than during the ten-year period extending
from 1897 to 1906. The oats acreage might therefore be considerably
decreased, and oats be produced in large quantities only in those
sections especially adapted to growing oats. It is conceivable,
therefore, that the ratio method may possibly give the cost of oats
production at rather too high a figure, a figure impossible of
realization, one year with another. In the case of standard crops,
however, there is remarkably little change in either supply conditions
or demand conditions. Methods of producing corn are pretty well
standardized. The market for corn is almost equally stable. It is
believed that the ratio method of determining cost of corn production
will be approximately accurate for the next fifty years.
CONSUMERS’ RATIOS
During the past fifty years, a number of people have set themselves to
work to measure the shifting economic tides with index numbers. The more
complete of these index numbers really undertake to measure the changing
value of the dollar. In July of 1914, for instance, Dun’s index number
was $119.71, which meant that it required $119.71 to buy a certain given
amount of wheat, corn, oats, pork, beef, butter, eggs, wool, hides, pig
iron, lumber, petroleum, etc. On September 1, 1919, it required $238.34
to buy these same goods. The dollar of July of 1914 had become worth
about 50 cents in September of 1919, in its ability to buy wholesale
products. The consumer, in his buying, has certain choices. The man who
thinks pork is too high in price can shift to beef or mutton; or he can
leave meat altogether out of his ration and secure the needed nutrients
in dairy or poultry products.
The producers’ ratios, as described in preceding chapters, have to do
fundamentally with supply conditions. They deal with the relation
between a raw product and a more finished product. They are concerned,
but not immediately, with demand conditions. The attempt in this chapter
is to develop a ratio which gives more particular weight to demand
conditions. Therefore, ratios are developed between a standard index
number on the one hand and a given commodity on the other. However,
because index numbers include some of the items of expense entering into
the production of any commodity, such a ratio also represents to a
considerable extent a producers’ ratio.
To understand the matter more definitely, we shall look into the ratio
actually prevailing between Dun’s index number and Chicago hog prices.
As an average of the ten-year period, 1907–1916, Dun’s index number in
January has averaged $120.16, whereas hogs during the same period have
averaged $6.99 per hundredweight. In other words, live hogs have sold
per hundredweight for about one-seventeenth of the value of Dun’s index
number. On this basis, in January of 1907, the index price of hogs was
$6.24, whereas the actual price was $6.60, or 36 cents higher. In
January of 1908, the index price of hogs was $6.59, whereas the actual
price was $4.45, or $2.14 lower. And so it goes. For the period of a
year or two, hogs will sell proportionately higher than other
commodities, and then for a like length of time they will sell lower.
This is graphically illustrated in the accompanying chart. This chart,
it will be noted, is very similar in appearance to the corn-hog ratio
chart. The chief point of difference is in 1917 and 1918, during which
time hogs sold relatively higher than an average of other commodities,
as indicated by Dun’s index number, whereas they were relatively lower
than corn. War conditions, creating an unprecedented demand for
breadstuffs, raised grain prices out of all proportion to other
commodities. On studying this chart closely, it will be noticed that
there is a tendency, generally speaking, for hogs to sell relatively
cheap to other commodities a few months in advance of the time that they
sell relatively cheap to corn, and vice versa. In other words, the
variations shown on the chart as given in this chapter are often two or
three months ahead of the chart as given in the chapter on corn-hog
ratios.
[Illustration:
Illustrating the departure of Chicago hog prices from the ten-year
ratio between hog prices and Dun’s index number.
]
A historical study of the ratio between index numbers and Chicago steer
prices indicates that steer prices swing first above and then below
their index number value in periods of from five to nine years each way,
with an average of around seven years.
The 1907–1916 ratio between Dun’s index number and wholesale prices of
certain farm products is given in the following table:
═════════╤══════════════╤═══════════════╤══════════════╤═══════════════
│Heavy hogs at │ 1,200 to │Butter extras │ No. 2 corn at
│ Chicago, per │ 1,500-lb. │ at Elgin, │Chicago, cents
│ cwt. │ steers at │ cents per │ per bushel.
│ │ Chicago per │ pound. │
│ │ cwt. │ │
─────────┼──────────────┼───────────────┼──────────────┼───────────────
January │ .0583│ .0597│ .263│ .499
February │ .0604│ .0593│ .255│ .503
March │ .0638│ .0620│ .251│ .514
April │ .0652│ .0631│ .241│ .537
May │ .0631│ .0636│ .215│ .555
June │ .0632│ .0655│ .212│ .551
July │ .0638│ .0659│ .212│ .572
August │ .0638│ .0670│ .219│ .602
September│ .0642│ .0665│ .233│ .582
October │ .0620│ .0656│ .242│ .559
November │ .0578│ .0634│ .254│ .537
December │ .0568│ .0621│ .264│ .518
─────────┴──────────────┴───────────────┴──────────────┴───────────────
With Dun’s index number at $245 for December of 1919, the method of
finding the index price of hogs is to multiply $245 by .0568, which
gives $13.92.
It is not claimed that the ratio between Dun’s index number and hogs,
for instance, is as constant as the ratio between hogs and corn. In the
decade of the ’60’s, hogs sold for one-third lower in relation to Dun’s
index number than in the decade ending in 1916. There has been a
constant tendency for farm products to sell constantly higher in
relation to Dun’s index number. And this tendency doubtless will
continue until population becomes stationary, altho there may be several
years at a time when the tendency is apparently halted because of
improvements in agricultural efficiency. In the main, the possibility of
improvements in industrial efficiency is so much greater than in
agriculture that we may expect that agricultural prices will stand in
constantly higher ratio to other prices, until finally the increase in
population is checked.
Working out ratios between Dun’s index number and retail prices as
reported by the Bureau of Labor Statistics, we find that as an average
of the 1907–1916 period, .183 of Dun’s index number represented the
price of sirloin steak in cents per pound. For other commodities sold at
retail the ratio factors were:
TABLE 1.
Round steak, per pound $.159
Rib roast, per pound .148
Pork chops, per pound .157
Bacon, per pound .206
Ham, per pound .199
Lard, per pound .122
Hens, per pound .165
Eggs, per dozen .267
Butter, per pound .294
Milk, per quart .071
Flour, per bag of 24.5 pounds .722
Corn meal, per pound .023
Potatoes, per peck .243
Sugar, per pound .051
It is interesting to note that in September of 1919, when there was a
universal outcry against retail prices, an outcry vigorously encouraged
by notoriety-seeking politicians, that retail prices were about as might
have been expected from Dun’s index number. Dun’s index number was
$238.34 on September 1, 1919, and the first column of Table 2 gives the
retail price which we might expect by applying the standard ratios. The
second column gives actual prices on September 15th, as reported by the
Bureau of Labor Statistics:
TABLE 2.
Sirloin steak, per pound $.436 $.409
Round steak, per pound .379 .379
Rib roast, per pound .352 .312
Pork chops, per pound .374 .460
Bacon, per pound .490 .556
Ham, per pound .474 .552
Lard, per pound .291 .382
Hens, per pound .393 .414
Eggs, per dozen .636 .632
Butter, per pound .701 .657
Milk, per quart .169 .157
Flour, per bag of 24.5 pounds 1.721 1.790
Corn meal, per pound .055 .067
Potatoes, per peck .579 .645
Sugar, per pound .122 .110
The factors as worked out in Table 1 are ratios between yearly average
retail prices and yearly average Dun’s index numbers. Even retail
prices, however, have some seasonal swing. For instance, meats tend to
be cheaper in the winter than in the summer, whereas butter and eggs
tend to be cheaper in the summer than in the winter. Because of the
seasonal swing, the first column of Table 2 is not absolutely accurate.
For instance, the retail price of sirloin steak in September is usually
about 2 per cent higher than the yearly average, and, corrected for the
month of September, the price should have been 44.5 cents, instead of
43.6 cents. On the same basis, the seasonally corrected price for butter
for September, 1919, was 68.6 cents, instead of 70.1 cents.
In the main, however, Table 2 is fairly accurate as it stands. It will
be noted that with the exception of hog products, wheat and potatoes,
retail prices in September of 1919 tended to be lower than their normal
ratio to Dun’s index number.
Possibly a consumers’ attack on the price of pork products, wheat and
potatoes was warranted in September of 1919. It must be remembered,
however, that there was supposedly a world need for hog products and
wheat at that time, and that potatoes were unduly high on account of a
short crop.
Consumers should be educated in the use of index numbers and to an
understanding of normal ratios between index numbers and the various
commodities which they buy. In times of violent price fluctuations they
should know just what is the index price of the commodities whose prices
are acting in a questionable way. At the same time they should realize
that the index price is not necessarily the just price. However, the
index price gives a basis upon which the consumer may work. He may then
inquire why it is that the actual price departs from the index price. In
May of 1918, for instance, the index price of corn in Chicago was $1.25,
whereas the actual price was $1.60. The actual price was above the index
price partly because of a poor quality corn crop in 1917, but
particularly because of an unprecedented demand for breadstuffs.
Nevertheless, everything considered, the consumer may have had some
basis for resentment against the high price of corn and corn products,
whereas if he had studied the milk and butter situation, he would have
seen that the dairy products were being sold at a real bargain. Strange
to say, consumers kicked vigorously against milk prices, but had nothing
to say about corn prices. Consumers are always concerned with
superficial appearances, never with fundamental causes. And this
characteristic of city consumers, combined with an unscrupulous,
ignorant city press, is a grave menace to our civilization.
TECHNIQUE OF THE RATIO METHOD
The fundamental idea of the ratio method is that the price of every
product is determined in the long run by the price of some other product
or products. The price of hogs is determined in the long run by the
price of corn. The price of corn is determined in the long run by the
price of land, labor, farm machinery and horse feed.[5]
In its simplest form, the ratio method deals with only two products, as
for example, with hogs and corn. As an average of the ten Januarys
extending from 1907 to 1916, No. 2 corn on the Chicago market sold for
59.9 cents a bushel, and heavy hogs on the same market sold for $7 per
hundredweight. In other words, as an average of this ten-year period, it
has required the value of 11.7 bushels of corn to equal in value one
hundred pounds of heavy hog flesh. In the specific month of January,
1907, corn was 41.6 cents per bushel. The corn price of hogs was 11.7
times 41.6 cents, or $4.87. The actual price of hogs in January, 1907,
was $6.60. Actual hogs sold for $1.73 above the customary corn-hog
ratio. In January of 1908, with corn at 58.5 cents a bushel, the corn
price of hogs would be 11.7 times 58.5, or $6.84. The actual price was
$4.45, or $2.39 below the ratio price. The ratio for February is
different from the ratio for January, but once a set of ratios is
secured for each of the twelve months of the year, it is easily possible
to work out charts showing month by month the periods of time when hogs
were selling relatively higher than their customary ratio to corn, and
when they were selling relatively lower.
It is absolutely necessary to work ratios month by month, or week by
week, in the case of all products which have a seasonal swing. Nearly
all agricultural products are cheap in the fall of the year. Some
products begin weakening sooner than others; for instance, oats and
wheat weaken sooner than corn or hogs.
A genuinely scientific method of applying the ratio method to hog prices
would also take into consideration that hogs are to some extent made out
of tankage, pasture and labor, as well as corn. Of course, these things
vary in value in a rough way, in just about the same way as corn prices,
and for practical purposes, the ratio between hogs and corn is probably
exact enough.
As an example of a more complex application of the ratio method, assume
that after thoro investigation by the farm management people, it is
found that on typical farms 70 per cent of the cost of producing hogs is
represented by corn, 5 per cent by tankage, 3 per cent by oats, 3 per
cent by pasture, 2 per cent by middlings, 6 per cent by man labor, and
11 per cent by miscellaneous items, such as risk, interest, etc., all of
which vary in about the same ratio as the other items already
enumerated. Spreading the 11 per cent of miscellaneous items over the
other items, we find that of the cost of producing hogs, 78 per cent is
represented by corn, 3 per cent by oats, 6 per cent by tankage, 4 per
cent by pasture, 2 per cent by middlings, and 7 per cent by man labor.
Now, as an average of the ten-year period, 1907 to 1916, the value in
the month of January, at Chicago, was 59.9 cents for corn and 43.4 cents
for oats. The value of middlings on a Milwaukee basis was $22.77 per
ton. The value of tankage (this is a rough estimate) was $46 per ton;
the value of pasture land, $66 per acre, and the value of an hour of man
labor 14.6 cents. Hogs averaged $7 per hundredweight.
According to the ratio theory, this ten-year average price of $7 per
hundredweight for hogs must represent approximately cost of production.
Seventy-eight per cent of $7 gives $5.46 as the share of corn in the
production cost, and in like manner 21 cents is the value of the oats,
42 cents the value of the tankage, 28 cents the value of the pasture, 14
cents the value of the middlings, and 49 cents the value of the man
labor. With corn at 79.9 cents a bushel, as it was during this ten-year
period, and other feeds at prices as mentioned in the foregoing, it is
obvious that it required, to equal one hundred pounds of hog weight, the
value of 9.1 bushels of corn, one-half bushel of oats, one-two hundred
and fiftieth of the value of an acre of ordinary rough pasture land,
twelve pounds of middlings, eighteen pounds of tankage, and 3.4 hours of
man labor. In the specific month of January, 1907, corn was worth 41.6
cents; oats, 35.4 cents; middlings, $18.37; ordinary rough pasture land,
$51 per acre; tankage, $40 a ton, and man labor, 13 cents an hour. Nine
bushels of corn at 41.6 cents gives $3.78; half a bushel of oats at 35.4
cents gives 18 cents; twelve pounds of middlings at $18.37 per ton gives
10 cents; one-two hundred and fiftieth of the value of an acre of
ordinary pasture land, at $51 per acre, gives 20 cents; eighteen pounds
of tankage at $40 per ton gives 36 cents, and 3.4 hours of man labor at
13 cents gives 44 cents. Adding, we get $5.06 as the cost of producing
hogs in January, 1907. In January, 1908, with corn at 58.5 cents per
bushel, oats at 49.9 cents, middlings at $22.62 per ton, tankage at $40
per ton, pasture at $51 per acre, and man labor at 13 cents an hour, we
find, by applying the same formula, that the cost of producing one
hundred pounds of hogs was $6.69. The straight corn ratio method gave
$4.87 for January of 1907, and $6.84 for January of 1908, departing from
the more complex ratio on the minus side by 19 cents in 1907 and on the
plus side by 15 cents in 1908. The results are so nearly alike that in
the case of hogs we think that it is ordinarily satisfactory to depend
on corn ratios alone, altho in the case of such products as milk and
butter it is well to include feeds other than corn and to use a method
similar to that just outlined.
In order to allow the general public to judge of the merits of wage
increases, strikes and price advances, it would be well if the ratio
method might be applied to manufacturing and mining industries; for
instance, in the case of coal, it might be shown (these figures are
purely illustrative and possibly are wide of the facts) that 40 per cent
of the cost of producing coal is labor, 20 per cent machinery charge,
and 40 per cent risk, interest on investment and similar factors, which
vary in just about the same ratio as the other two factors already
mentioned. Distributing this 40 per cent miscellaneous charge, we get 67
per cent of the cost of producing coal represented by labor and 33 per
cent by machinery charge. Now, assume that, in 1920 the labor charge has
advanced over the ten-year base by 90 per cent, and the machinery charge
by 110 per cent. Multiplying 67 by 190 and 33 by 210 and adding, we find
that on this basis coal in 1920 should be about 94 per cent above the
ten-year base. If the ten-year base is $3.50 per ton, the proper price
for coal in 1920 should evidently be somewhere around $6.80 per ton.
Of course, it is obvious that anyone applying the ratio method must be
thoroly familiar with the industry under consideration. There should be,
however, competent experts in whom the public has confidence, to express
for the benefit of the public, in ratio form, the cost-of-production
price of all staple products, and possibly labor as well.
Our grade schools and our high schools should train their students to
have an appreciation of the ratio method of determining prices. An
appreciation of this sort developed in the minds of the bulk of our
people would do much to stabilize the price system, preventing undue
excesses, and yet allowing prices which cover in a fair way cost of
production.
LIMITATIONS OF THE RATIO METHOD
The ratio method, while astonishingly accurate as a method for
ascertaining production costs, is not infallible. In the case of hogs
and corn, for example, the ratio has remained constant, decade by
decade, for sixty years. It is always conceivable, however, that a
change in production methods will come which will enable farmers to
produce hogs for less than the 11.5-bushel ratio. It is also conceivable
that as population increases, there will be a smaller premium put on
meat and a greater premium put on grain, with the result that the
standard ratio will fall below eleven bushels. But in any event the
change will be slow, and in all probability the ratio of the fifty years
from 1925 to 1975 will not fall below 11 bushels.
In the case of such products as butter, where improvements in method
count for more than in the case of hogs, there is more likelihood of the
standard ratio changing as time goes on. In the case of such standard
crops as corn and wheat, there is small probability of great change in
the standard ratios. Any undue and prolonged profit will be promptly
absorbed by land values and labor wages.
About the only technological improvement which would throw the standard
ratios altogether out of line would be the discovery of how to make food
out of air and water by manufacturing processes.
The ratio method, when used in price fixing, rather than in price
judging, is open to several objections. Under a _laissez faire_ system
it may be necessary for months at a time to cater to the consumers by
selling food at below the ratio or cost-of-production price. And again
it is possible for months at a time to gouge the consumer by selling
food above the ratio or cost-of-production price. It is only as farmers,
consumers and business men become educated to the desirability of prices
more nearly approximating cost of production that the ratio system can
be used extensively in actual price fixing. When it is so used, there
will be less likelihood of over-production on the one hand and
under-production on the other hand.
Wherever the ratio system comes to be used in actual price fixing, it
will be open to the criticism that prices will start pyramiding. For
example, in the case of hogs and corn, a guaranteed ratio may increase
the price of corn, and this in turn the price of hogs, and so on in a
never-ending climb. The reverse is also imaginable. In the case of
fixing crop prices by ratio, it is imaginable that land values would
constantly increase, and this would increase the price of crops, which
again will be reflected back into land, and so on in a never-ending
cycle. Economists like to dwell on situations of this kind. They are to
a large extent purely imaginary. To stop a vicious rise under the ratio
system, a rise which would bring about an over-production, all that
would be necessary would be to very slightly lower the standard ratio.
In the case of hogs, for example, it might be necessary to lower the
ratio from 11.5 bushels to 11.2 bushels.
However, in all that is said concerning the ratio method of judging
prices, there is no intention to prescribe any definite method of using
the system. The chief function of ratios will doubtless continue to be
educational. It is hoped that a knowledge of standard ratios by large
numbers of people will suffice to stabilize prices at more nearly cost
of production and to stabilize production at a point more nearly
identical with normal demand.
RETAIL AND WHOLESALE PRICES
There has been much outcry in recent years against the retailer.
Unquestionably, the retailer is working under a cumbersome distributive
system which burdens the consumer with prices fully 20 per cent too
high. It is commonly recognized that this extra 20 per cent does not
represent retailers’ profits, but that it is used simply to perpetuate a
system which will cater most effectively to the whims of indolent
housewives. The cure for the system is for consumers to organize
themselves into co-operative buying associations. When consumers are
willing to band themselves together in such associations, to anticipate
their needs of staple products by ordering ahead, it will be possible to
furnish such products at very little above wholesale prices. In fact, it
is conceivable that under such a regime co-operative consumers might buy
of co-operative producers. All this, however, involves infinitely more
foresight than the average citizen or his wife cares to exercise. Also
it involves putting a vast number of small grocerymen out of business.
In the long run, this will be a good thing for every one, but the
immediate effect will be a great outcry against interfering with
legitimate business, and the issue will be obscured by the customary
smoke screen used by scared business men.
As long as we cling to our present retail system, it is worth while to
know the standard differential between retail prices on the one hand and
wholesale prices and farmers’ prices on the other hand. For instance, in
1913, ham quite customarily retailed at around 26 or 27 cents a pound,
whereas the wholesale price at the same time was around 16 or 17 cents a
pound, and farmers were selling their hogs at around 8 cents a pound. It
was a fairly normal state of affairs, previous to the war, for ham to
sell retail at 10 cents a pound above the wholesale price, or 18 cents
or 19 cents a pound above the price of hogs. Just what the normal
differential will be, now that the war is over, can not be foretold with
accuracy. As long as we are on a price level twice as high as in 1914,
it is obvious that the differential between retail and wholesale prices
will be just about twice as great. The retailer may not pay quite twice
as much to his labor, and he may not pay quite twice as much rent, but
he will have to have twice as much operating capital, and his bad debts
will probably be twice as great. At this writing, early in 1920, it
seems obvious that the retailers should be allowed to have a
differential fully 80 per cent larger than before the war, if they are
to fare as well as most other classes. As a matter of fact, the
retailers now seem to be selling ham at a differential of about 18 cents
a pound over the wholesale price and about 36 cents a pound over the
price of hogs. In the case of ham, the retailers began demanding an
increased margin in May of 1917, the month after the war broke out. They
kept increasing the margin as opportunity presented itself, but not till
the summer of 1919 were the retailers able to widen out the differential
between retail and wholesale prices sufficiently to cover the cost of
doing business on a price level twice as high as in 1914.
[Illustration:
Illustrating how the differential between farmers’ price and wholesale
and retail price widens in proportion to the higher price level.
]
The facts concerning the retail price of ham, wholesale price of ham,
and price of hogs, are presented in the accompanying chart. Other retail
prices are given in the appendix, and it is possible from the figures
there presented to work out normal differentials for such products as
wheat and wheat flour, corn and corn meal, sirloin steak and cattle,
etc.
PORK EXPORTS THE BAROMETER OF CORN BELT PROSPERITY
For years we have exported from the United States more corn in the form
of pork than in the form of shelled corn or corn meal. In recent years
we have been exporting an average of about 40,000,000 bushels of corn in
the form of corn and corn meal, whereas we have been exporting the
equivalent of about 130,000,000 bushels of corn in the form of pork
products. And for the year 1919 we exported the equivalent of about
350,000,000 bushels of corn in the form of pork.
There is an extraordinary sympathy between the corn and hog industries.
True it is that we feed almost as much corn to our horses as we do to
our hogs, but the corn which we feed to horses is for the purpose of
keeping the farm plant running. The corn fed to horses does not bring in
direct cash returns in the same way as the corn fed to hogs. Nearly
one-third of all our corn is fed to hogs, and from the standpoint of
market strategy, this third which is fed to hogs counts more than the
other two-thirds. The demand for the other two-thirds by horses and
cattle and by the grist mills of the towns and cities is practically
stationary from one year to the next. It is the corn which is fed to
hogs that varies so greatly from one year to the next.
For the first ten months of 1919, the value of the pork products
exported from the United States was $778,000,000, or about one-eighth of
the value of all the exports from the United States for this period. The
only other product of practically equal magnitude with pork products was
cotton, with a total value of $775,000,000 for the first ten months of
1919. Wheat and wheat flour, which most people think rank decidedly
above the value of pork products, totaled during this period
$556,000,000. Corn and corn meal exports during this period were worth
an insignificant $15,000,000. Of course we are now exporting more pork
products than ever before in history, but even before the war the corn
belt expressed itself in international trade pre-eminently thru its
exports of pork products. The ham, bacon and lard of the corn belt are
comparable with the wheat of the northwest and the cotton of the south.
Before the war, we exported every year the equivalent of about five or
six million hogs. Last year we exported the equivalent of thirteen or
fourteen million hogs, nearly one-fifth of our total production. Exports
dropped off during September, October and November, but this is a
customary seasonal occurrence, and there is now the prospect of a
resumption of a tremendous exportation of hog products during the winter
and early summer.
The two charts printed herewith indicate the very close connection
between pork exports and profits in corn raising. The chart giving the
profits and losses on the average acre of corn for the past forty-five
years is re-published from Wallaces’ Farmer of May 17, 1918, the profits
for the years 1918 and 1919 having been added since. It will be noted
that the other chart gives the exports of hog products in pounds from
the United States year by year. The exports are in fiscal years, ending
on June 30th. It will be noted that in a broad, general way, there is a
considerable relationship between the two charts. When pork exports have
been less than normal for a year or two, there is a decided tendency for
corn to become unprofitable, and vice versa. Note how the big hog
exports, starting in 1877 and continuing thru 1881, were accompanied by
a period of unusual corn profits. Note how the falling off in hog
exports, starting with 1882 and continuing until 1890, was also
accompanied by unprofitable corn crops. Then there was a temporary turn
for the better in both corn and hog exports in 1890 and 1891, and a sag
in both until 1897, when hog exports picked up and continued to pick up
to a very marked degree for several years, the change in hog exports
being slowly reflected in corn profits. Generally speaking, pork exports
seem to lead the way, and corn tags along behind. During the war years,
however, corn seemed to move just about as fast as hog exports. The
first year of really heavy hog exports was the year ending June 30,
1916, and the first corn crop to sell unusually high was that harvested
in the fall of 1916. The corn crops of 1916, 1917, 1918 and 1919 have
all been extraordinarily profitable, and the pork exports during these
same years have been unusually heavy. Unquestionably, there is a very
close relationship between hog exports and the general level of corn
prices. We do not mean to say that there is a month-by-month
relationship, or even a year-by-year relationship. We do mean to say,
however, that it is impossible for the United States to export an
unusual volume of hog products without sooner or later raising corn
prices. It may take a year or two for the effect to be felt by corn, but
sooner or later the influence seems to be inevitable.
[Illustration:
Curved line indicates the normal trend of pork exports from the United
States. When the irregular line is above the curved line, pork
exports are unusually large. Large pork exports beginning with 1877
caused the corn belt prosperity beginning with 1879. Large pork
exports beginning with 1898 initiated the corn belt prosperity
beginning with 1920. The 1920 figure is a preliminary estimate.
]
Heavy hog exports make for higher corn prices, and higher corn prices
make for higher values in corn belt farm land. Without much question,
the fundamental cause of corn land rising so much more rapidly than land
in other sections is the unusual volume of pork products starting with
the year 1916. It would have been impossible for the corn market to have
reached or sustained its high altitude without the prop of such
tremendous hog exports. In view of the evidence presented, we make bold
to say that hog exports furnish a most delicate barometer of corn belt
prosperity. The huge volume of pork exports during the past three years
is the explanation of corn belt land rising faster than in other
sections. Iowa raises twice as many hogs as any other state, and this
doubtless is the reason why land in Iowa has risen faster than in any
other state.
[Illustration:
Corn profits and losses in the twelve north central states, as
determined by the ratio method described in the chapter on “Cost of
Producing Crops.”
]
What of the future? Is there any chance that pork exports will maintain
their present volume? We may as well face the issue squarely and come to
the conclusion that in all probability pork exports, within three or
four years, will decline to about one-third their present volume. For
four or five years previous to the war, the tendency of pork exports was
somewhat downward. It is reported that at that time Great Britain was
buying less and less of her hog products from the United States, and
that she was thinking of buying more and more of her coarser quality of
hog products from China. At the present time there is considerable
Chinese bacon on the English market. It is also worth while to note in
this connection that the English consumption of meat is now 1,200,000
tons, which is 600,000 tons less than her pre-war consumption of meat.
If England has cut down on her meat consumption one-third, the
probabilities are that the continent of Europe has cut down on its meat
consumption one-half. Probably never again will the world eat as much
meat per capita as it did before the war. Whether we like it or not, we
may as well face the probability that our pork exports are on the
decline, and will not stop declining until they are down to about
one-third of the 1919 volume.
And we may expect that this decline in pork exports will have some
influence on corn prices, and therefore on corn land prices. The future
situation is of course considerably different than that which has
existed at any time during the past forty-five years. The volume of
money in circulation may be such that there will be no actual decline in
corn prices or in corn land prices. Just the same, we may expect that
the unusually favorable position which has been enjoyed by the corn belt
during the past three years will disappear with the decline in pork
exports.
Previous to the war, Great Britain and Germany absorbed more of our pork
exports than any other nations. Great Britain took 73 per cent of our
pork exports, 86 per cent of our exports of hams and shoulders, and 36
per cent of our lard exports. Germany took 30 per cent of our lard
exports and practically nothing in the way of bacon, hams or shoulders.
Cuba, Holland and Belgium were the other large importers of American hog
products, but these three nations together required only about one-tenth
as much as Great Britain. If Great Britain cuts down her consumption of
meat to two-thirds what it was before the war, she will be much more
nearly self-supporting from a meat standpoint than she is now, and
probably will not import from the United States more than one-half as
much meat as she did before the war. Great Britain owes considerable
money to the United States, and, moreover, in the future she will not
get from the United States in such large measure ocean freight charges
on the British merchant marine. In the old days, Great Britain had a
considerable credit balance coming to her every year from the United
States, and she took a large part of this in the form of pork products.
Now that the situation is reversed, it is difficult to see how Great
Britain can import as much in the way of hog products from the United
States as she did before the war. True it is that for the year 1919 she
has imported about three times as much from the United States as before
the war, but once the present emergency is past, it seems obvious that
Great Britain will cut her pork imports down to the minimum.
In the case of Germany, the situation is even worse. Germany, which
normally took 150,000,000 pounds of lard from us every year before the
war, must now pay the allied nations an indemnity every year of at least
$600,000,000. In order to pay this huge sum, Germany must cut her
imports down to the absolute minimum, and become extraordinarily
efficient in exporting. For the next two or three years, Germany may
perhaps import more lard from us than she did before the war, but, as
rapidly as possible, Germany will re-establish her swine industry and
reduce the imports of American lard.
We may be painting the situation too black, but we can not see how our
pork exports, by the year 1925, can total to more than 800,000,000 or
possibly 900,000,000 pounds, which is less than one-third the 1919
volume of exports. Of course, another war may break out in the meantime,
or some other extraordinary thing may happen, but in the ordinary course
of events, it would seem that our pork exports must inevitably decrease
until they are considerably less than the pre-war normal. And it would
seem that this decrease in pork exports will have a very considerable
bearing on corn prices, which will in turn have a bearing on corn land
prices. Again, we wish to say, however, that we do not necessarily
believe that corn land in 1925 or 1930 will be selling cheaper than it
is today. Prices of all kinds doubtless will continue to be high in 1925
and 1930, for the simple reason that inflated currency the world over
will still continue. The point we are trying to make is that once hog
exports decline to the pre-war normal, or less, corn belt farming will
cease to enjoy the unusual advantage which it had during the war. It may
for a time be relatively less profitable than farming in certain other
sections of the United States.
There are many curious paradoxes in the hog export trade in the United
States. While a heavy export of hog products sooner or later means high
corn prices, high hog prices and corn belt prosperity generally, yet as
a usual proposition, heavy hog exports do not start except in times of
unusually low hog prices. The heavy exports of 1877–1881 did not start
till hogs had declined below $5 a hundred, and reached their height
while hogs were $3 to $4 a hundred. In 1882, when hog prices climbed to
over $8 per hundred on the Chicago market, hog exports promptly fell
off, and did not climb again until hog prices again went below $4 a
hundred, in 1890. In early 1893, when hog prices on the Chicago market
climbed up to nearly $8 a hundred again, hog exports dropped off very
suddenly. They did not pick up at once in 1896, when hog prices went
under $4 again, but did pick up very rapidly in 1897 and 1898, during
both of which years hog prices on the Chicago market were under $4 a
hundred most of the time. In 1902, there were heavy exports, in spite of
the fact that hog prices were relatively high, but by 1903 the British
apparently had had enough of buying high-priced pork on the American
market, and they curtailed their importations very decidedly. Again, in
1910, the exceedingly high prices stopped the export demand. During the
past three years there have been unprecedented exports in spite of
unusually high prices. But as a matter of fact, hog prices in the United
States have been cheaper during the past three years than any place else
in the world. We have been selling hogs at a great bargain, or Great
Britain would not have bought such tremendous quantities from us.
A thoro study of the exports of the United States month by month from
January, 1903, thru the year 1914, indicates that there is a continual
tendency for hog exports to be large when hog prices are low, and vice
versa. The correlation coefficient between hog prices and hog exports is
minus .52. There seems to be a closer correlation between hog exports
and hog prices than between receipts of hogs at central markets and hog
prices. The tendency has been for hog exports to be 40 per cent above
normal when hog prices are 15 per cent below normal; for hog exports to
be 20 per cent above normal when hog prices are 8 per cent below normal,
etc. In November of 1919, when hog exports were about 40 per cent above
normal, it would have appeared, therefore, that hog prices were about 15
per cent below normal. This is a long-swing tendency, and of course
there are occasional exceptions. This part of the problem may be summed
up to the effect that big exports start in times of low hog prices, and
that these exports after a time stimulate both corn and hog prices, with
the result that after a time both corn and hogs become so high in price
that exports dry up, and then corn and hog prices weaken, and the whole
thing starts over again. There was a continuous series of these cycles
previous to the war, and it is to be expected, now that the war is over,
that the phenomena will repeat themselves, altho with some added
variations.
One thing we must remember is that very possibly the export trade of the
United States will not count so big in the future as it has in the past.
The United States has loaned something like $10,000,000,000 to foreign
countries, and every year she will have hundreds of millions of dollars
in interest coming her way, instead of owing hundreds of millions of
dollars to countries across the water, as was the case before the war.
And as long as the United States has so much money coming to her in
interest charges, we must expect that eventually the United States must
import more goods than she exports. This does not necessarily mean the
destruction of the hog industry in the corn belt, but it may mean that
it will have to shift onto a somewhat different basis. It may be that in
the future we must plan on growing enough hogs only to satisfy the needs
of the United States, carefully avoiding a glut which will make it
essential to export any large quantity. Or it may be that the American
farmer is so exceedingly efficient in the business of producing hogs
that the United States will always export large quantities of pork
products, even tho the balance of trade otherwise is against the United
States. If we approach the problem from the standpoint of going after a
large trade in hog products with foreign countries, we must put
ourselves in position to produce with the utmost economy possible.
“Price” talks in the export business, and we shall export large
quantities of hog products whenever we are selling hogs decidedly
cheaper than the rest of the world.
Just what kind of a whistle do we want, and what price are we willing to
pay for it? Here is a problem which we commend to the earnest study of
the research department which the National Farm Bureau Federation may
some day possess.
CORN BELT LAND VALUES IN RELATION TO COST OF PRODUCING CORN
Rent or interest on the money invested in land is a legitimate item in
cost of production—so far as the individual farmer is concerned. But
society is likely to reach a time when it will assert the right to
object to paying a price for corn which will permit of paying a very
high rent, which in turn is used to support very high land values.
Society may say, in effect: Your high land values are just as vicious as
watered railway stock, and you have no more right to expect a five per
cent return on the inflated value than the railroads have to expect such
a return on their watered stock.
Society may be expected to pay a price for corn which is established by
competition between farmers in this country and in the Argentine, and by
the need of Europe for our pork products. This price doubtless will bear
much the same relation to the general price level as before the war. It
may be high enough to permit of corn belt land values as they existed in
1920, or even higher values. Or it may be low enough to compel a
reduction in corn belt values and farm-hand wages.
In the case of a severe drop in corn prices, it is conceivable but not
probable that corn belt farmers will organize sufficiently to compel the
return to a price high enough to maintain 1920 land values and farm-hand
wages.
It is believed that under conditions of free competition it will be
necessary for corn to sell for about 85 cents a bushel, on a basis of
December 1st farm valuations in the corn belt in the ordinary crop year,
in order to maintain land values as they existed in 1920. This means
that prices might go as low as 70 cents a bushel in years of big crops,
or as high as $1 in years of small crops. It is also assumed that labor
at harvest, without board, will settle down to about $4.25 a day, which
was the 1918 level. If labor at harvest, without board, continues at $5
a day, which was the 1919 level, it will be necessary for corn to sell
for about 88 cents a bushel, on a December 1st farm basis, in order to
maintain the 1920 level of land values and farm-hand wages.
It is recognized that this prediction may be wide of the mark in case
farmers are able to organize themselves for selfish purposes as
effectively as capital and union labor. For forty years preceding the
war, the farmer paid his regular monthly labor a sweated wage, and, in
effect, sold his own labor just as cheaply. During the war, the farmer
had a taste of a higher standard of living, and, having had this taste,
he will be loath to let farm product prices slip back to a point where
he will be reduced to his former state or even lower.
It is suggested as the only effective way out of the difficulty that
farmers organize into powerful bargaining organizations, which, on
occasion, can practice sabotage as skillfully as capital or union labor.
But, in addition, and above all, it is absolutely necessary to become
extraordinarily efficient. We must continue to apply our best brains to
production problems, perfecting methods which will enable us to produce
corn 10 cents a bushel cheaper in Iowa than in Argentina.
PRICE STABILITY AND SOIL FERTILITY
One of the strongest arguments for more stable prices is the effect on
soil fertility. While the best farmers will try to maintain the
fertility of their land, no matter what may be the economic outlook, the
bulk of our farming population will not make any serious efforts along
this line as long as the price outlook is uncertain. When prices are
advancing, the tendency is for millions of acres of farm land to find
their way into the hands of speculators and investors, who hold for a
rise, and who take no interest whatever in the application of lime and
phosphate or the growing of clover. When prices are tending downward,
there is a tendency to economize to the limit. Even those farmers who
normally use fertilizers are likely to postpone purchases until next
year or the year after, in the hope of lower prices. It is only under a
system of relatively stable prices that we may expect really effective
attention to be given to soil fertility problems by the bulk of our
farmers. The quicker we can get onto a stable price level, the more
effectively will the fertility of our soil be conserved.
It is common observation that live stock farming maintains the fertility
of the soil more effectively than grain farming. In the corn belt, live
stock farms ordinarily produce five bushels more corn per acre than
grain farms. Two great obstacles to live stock farming are tenancy and
price uncertainty. The man of small means who has been farming for
himself for only a few years can not afford to take a chance. He does
not know whether or not hogs will be at a price next year which will
furnish a good market for corn, and he therefore plays safe by breeding
only three or four sows, instead of the five or six which he might very
well handle. Unquestionably, the farmers in the corn belt would be
justified in keeping more live stock if the price of live stock should
represent cost of production day by day and month by month. In fact,
corn belt farmers, as an average of a five-year period, could probably
afford to produce both hogs and cattle at lower relative prices than
were customary before the war, if only prices were more nearly stable,
if they could feel reasonably sure of getting a price more nearly
representing production cost.
The maintenance of the fertility of our soil is a matter of national
concern. In the long run, it is of more vital interest to the people of
the cities than to the farmer. Men engaged in industrial enterprises
should do what they can to favor such adjustment of prices as will make
it to the advantage of the farmer to keep his land in good heart,
because that will make for larger production and more economical
production.
MEASURING TOTAL CROP PRODUCTION
This chapter does not follow the same line of thought as the other
chapters. It has an indirect bearing, however, and we believe the
suggested method of measuring total crop production to be of some value.
Small crops ordinarily bring the farming class more money than large
crops. Nevertheless, in the long run big crops mean prosperity to the
country as a whole. To judge just when crops as a whole are large and
when they are small, a method has been devised, which may be illustrated
as follows:
In 1918, the United States produced 2,582,814,000 bushels of corn,
917,100,000 bushels of wheat, 89,833,000 tons of hay, 11,700,000 bales
of cotton, etc. Now, to ascertain total crop production, it is obviously
impossible to add together bushels, tons, bales, etc. We can add
together the value of the crops, but the price level shifts from year to
year, and this method is not satisfactory.
Now, the 1907–1916 ten-year average price of corn was 61 cents, of wheat
96.2 cents, of hay $11.49 a ton, of cotton $59 a bale, etc. A ten-year
average illustrates the relative economic emphasis. These prices are
therefore used as constant factors, applicable to any crop year.
The 1918 corn crop of 2,582,814,000 bushels, converted into economic
crop units by multiplying by 61, equals 157,500,000,000. The 1918 wheat
crop of 917,100,000 bushels, multiplied by 96.2, equals 63,600,000,000.
The same thing done with the thirteen leading crops gives
559,900,000,000 crop units produced by the United States in 1918, or
5,270 crop units per capita.
The per capita production of crop units since 1880 has been as follows:
══════════════════════╤═══════════╤═══════════╤═══════════
1880 5,360│1890 4,720│1900 5,820│1910 5,320
1881 4,280│1891 5,820│1901 4,470│1911 4,850
1882 5,330│1892 4,840│1902 5,480│1912 5,690
1883 5,120│1893 4,710│1903 4,930│1913 4,950
1884 5,560│1894 4,030│1904 5,220│1914 5,410
1885 5,250│1895 4,980│1905 5,200│1915 5,770
1886 4,970│1896 5,170│1906 5,560│1916 4,940
1887 4,690│1897 5,070│1907 4,940│1917 5,530
1888 5,240│1898 5,360│1908 5,220│1918 5,270
1889 5,910│1899 5,760│1909 5,100│1919 5,400
──────────────────────┼───────────┼───────────┼───────────
Decade Averages, 5,171│ 5,046│ 5,194│ 5,313
──────────────────────┴───────────┴───────────┴───────────
Note how constant has been the productive power of the United States in
economic crop units per capita, decade by decade, since 1880. Note that
since 1910 crop production has more than kept pace with the increase in
population.
In the ’80’s we exported the equivalent of about 650 economic crop units
per capita (in this we convert pork exports into corn), which left,
roughly, 4,500 economic crop units per capita for home consumption. In
the fiscal year ending June 30, 1919, we exported about 750 economic
crop units per capita, which left, roughly, 4,500 economic crop units of
the 1918 crop for home consumption. During the decade ending 1919 there
has been an average of about 4,800 economic crop units per capita left
for home consumption. It was probably necessary to retain more economic
crop units per capita at home during the last decade than during the
’80’s, because of the smaller live stock production per capita.
From the standpoint of production per farm, there has been a tremendous
increase every decade. As an average of 1880–1889, the production per
farm was 66,420 units, as compared with 67,990 units for the 1890–1899
decade, 71,600 units for the 1900–1909 decade, and 81,000 units for the
1910–1919 decade. In response to the higher price level, the
productivity of the average farm has constantly been increasing. If both
the general price level and the price of farm crops had been the same in
the 1910–1919 decade as in the 1900–1909 decade, the probabilities are
that the average production per farm would have been about 73,000
economic crop units instead of 81,000. If by the 1940–1949 decade we
have a population of 150,000,000, and if Dun’s index number at that time
is $170, it will be necessary to pay at Chicago an average of about
$1.80 for wheat, $1.15 for corn, and 65 cents for oats, in order to call
forth as much production per capita as was called forth by the prices
paid during the past forty years. When Dun’s index number is as low as
$170 (at this writing, in early 1920, it is $244), $1.80 for wheat,
etc., will be very high relatively. Rather than pay such a high relative
price, the consumers of the United States will probably turn to
Argentina and other countries where farmers produce food cheaply by
living on a lower standard. The position of the United States, rising
out of the world war, whereby she is the creditor nation of the world,
will favor food importations.
It is a commonplace among business men that good crops mean good
business. The effect, however, is not as close as they imagine. The
short crop of 1901 did not affect the business world till 1903 and 1904.
The short crops of 1892, 1893 and 1894 did not have full effect till
1895 and 1896. A single crop year which is only slightly below average
may have no effect whatever on business. But when three crop years
average below normal, there is almost certain to be some effect on
business. From 1903 to 1919, the correlation between crops and the price
of securities on the stock exchange was about .53. Professor H. L.
Moore, in his book on “Economic Cycles,” finds between crop yields per
acre and pig iron production a correlation coefficient of .72, pig iron
production lagging about a year behind crops.
Big crops do mean good business, altho they mean prosperity to the
farming class chiefly in an indirect way. A small crop generally brings
farmers more money than a large crop, but small crops over a period of
two or three years cause business depression and this reacts on farmers.
The problem of both business men and farmers is to devise some means of
giving farmers as a class a financial interest in producing big crops
rather than small crops.
Part II
MATHEMATICAL STUDY OF SUPPLY AND DEMAND IN THE HOG MARKET
Mathematical formulation of price-making factors is necessary in order
to know when extraordinary or strategic considerations are influencing
the market. The mathematical methods are highly technical, and in order
to explain most clearly we shall follow a specific problem thru from
beginning to end.
The problem is to determine the price of hogs from hog receipts (supply)
and from business conditions (demand). To represent business conditions,
we are using bank clearings outside of New York City. The actual figures
for heavy hog prices at Chicago are given in the Appendix. Hog receipts
at Chicago and bank clearings outside of New York City are given on
pages 81 and 82. The problem is to evolve from these figures the law of
hog prices.
The first step is to determine the secular or long-time trend of these
figures. Find, for example, the secular trend of such a series as:
1901 2
1902 3
1903 2
1904 5
1905 2
1906 6
1907 4
1908 6
1909 6
From looking at these figures, we know that the secular trend slopes
upward, starting with about 2 in 1901, reaching 3 or 4 by 1905, and 5 or
6 by 1909. To express the matter with mathematical accuracy, the method
as applied to this series is as follows: First add all the figures
together. Answer in this case, 36. Then divide by the number of
figures—in this case 9. Thirty-six divided by 9 gives 4, which is the
value of the secular trend for 1905, which is the central year.
The year 1904 is the −1 year, 1903 the −2 year, 1902 the −3 year, 1901
the −4 year, and in like manner 1906 is the +1 year, 1907 the +2 year,
1908 the +3 year and 1909 the +4 year. Multiply the minus years by their
respective values: −1 by 5, −2 by 2, −3 by 3 and −4 by 2, and also the
plus years, +1 by 6, +2 by 4, +3 by 6 and +4 by 6. The totals are −26
and +56, or a net of +30. Now the sum of the squares of −1, −2, −3, −4,
+1, +2, +3 and +4 is 60. Sixty divided into 30 gives .5, which is the
rate of movement of the secular trend each year, or if, as we found, 4
is the secular trend value for 1905, then 3.5 is the value for 1904, 3.0
for 1903, 2.5 for 1902, and 2.0 for 1901, and in like manner 4.5 for
1906, 5.0 for 1907, 5.5 for 1908 and 6 for 1909. The secular trend is a
straight line, and the actual goes above and below the secular trend in
more or less wave-like fashion. In Chart I, the straight line is the
secular trend of heavy hog prices at Chicago for 1903–1916, and the
irregular line fluctuating above and below is the actual price of heavy
hogs.
BANK CLEARINGS OF THE UNITED STATES OUTSIDE NEW YORK CITY.
(7 ciphers omitted)
══════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1903.│1904.│1905.│1906.│1907.│1908.│1909.│1910.│1911.│1912.
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
Jan. │ 390│ 376│ 411│ 510│ 542│ 463│ 516│ 591│ 597│ 623
Feb. │ 323│ 330│ 353│ 415│ 449│ 388│ 437│ 498│ 497│ 566
Mar. │ 358│ 359│ 419│ 463│ 510│ 430│ 513│ 600│ 585│ 604
Apr. │ 364│ 353│ 405│ 436│ 499│ 430│ 507│ 570│ 543│ 614
May │ 354│ 339│ 418│ 444│ 507│ 421│ 491│ 537│ 557│ 604
June │ 368│ 350│ 408│ 443│ 479│ 419│ 504│ 548│ 562│ 567
July │ 379│ 348│ 403│ 440│ 506│ 448│ 515│ 543│ 555│ 602
Aug. │ 326│ 336│ 392│ 432│ 467│ 404│ 482│ 508│ 528│ 572
Sep. │ 338│ 350│ 403│ 420│ 454│ 434│ 506│ 516│ 542│ 564
Oct. │ 394│ 405│ 460│ 521│ 561│ 491│ 582│ 592│ 606│ 701
Nov. │ 356│ 418│ 461│ 505│ 418│ 480│ 572│ 582│ 603│ 655
Dec. │ 380│ 430│ 476│ 504│ 406│ 512│ 594│ 591│ 609│ 655
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals│ 4330│ 4394│ 5009│ 5533│ 5798│ 5320│ 6219│ 6676│ 6784│ 7327
──────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
══════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1913.│1914.│1915.│1916.│1917.│1918.│1919.│1920.│1921.│1922.
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
Jan. │ 693│ 683│ 620│ 781│ 1051│ 1182│ 1456│ │ │
Feb. │ 584│ 563│ 543│ 719│ 884│ 1000│ 1160│ │ │
Mar. │ 628│ 640│ 628│ 820│ 1056│ 1224│ 1359│ │ │
Apr. │ 626│ 635│ 620│ 775│ 1036│ 1239│ 1326│ │ │
May │ 618│ 593│ 599│ 816│ 1073│ 1271│ 1428│ │ │
June │ 598│ 610│ 610│ 810│ 1064│ 1246│ 1449│ │ │
July │ 621│ 631│ 623│ 799│ 1048│ 1324│ 1562│ │ │
Aug. │ 563│ 535│ 573│ 805│ 1041│ 1320│ 1516│ │ │
Sep. │ 599│ 540│ 614│ 850│ 1015│ 1271│ 1598│ │ │
Oct. │ 703│ 613│ 741│ 1002│ 1254│ 1516│ 1809│ │ │
Nov. │ 631│ 568│ 756│ 1016│ 1239│ 1375│ 1672│ │ │
Dec. │ 668│ 611│ 797│ 1036│ 1192│ 1415│ 1576│ │ │
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals│ 7532│ 7222│ 7724│10229│12953│15383│17909│ │ │
──────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
RECEIPTS OF HOGS AT CHICAGO IN MILLIONS OF POUNDS.
(000,000 omitted)
══════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1903.│1904.│1905.│1906.│1907.│1908.│1909.│1910.│1911.│1912.
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Jan. │ 170│ 179│ 198│ 195│ 180│ 239│ 166│ 119│ 115│ 187
Feb. │ 144│ 174│ 152│ 158│ 151│ 184│ 141│ 122│ 150│ 172
Mar. │ 112│ 126│ 143│ 135│ 132│ 153│ 152│ 86│ 168│ 143
Apr. │ 117│ 116│ 121│ 111│ 136│ 108│ 102│ 74│ 125│ 129
May │ 130│ 124│ 143│ 127│ 152│ 132│ 123│ 110│ 154│ 146
June │ 156│ 128│ 139│ 141│ 139│ 136│ 113│ 120│ 132│ 128
July │ 128│ 79│ 115│ 135│ 147│ 118│ 101│ 96│ 118│ 125
Aug. │ 133│ 120│ 115│ 138│ 128│ 105│ 92│ 112│ 116│ 103
Sep. │ 120│ 87│ 115│ 113│ 121│ 83│ 82│ 92│ 99│ 95
Oct. │ 109│ 110│ 135│ 121│ 104│ 131│ 91│ 107│ 124│ 118
Nov. │ 145│ 164│ 162│ 127│ 99│ 174│ 127│ 127│ 144│ 127
Dec. │ 194│ 184│ 178│ 148│ 172│ 184│ 138│ 136│ 145│ 147
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals│1,658│1,591│1,716│1,649│1,661│1,747│1,428│1,301│1,590│1,620
──────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
══════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1913.│1914.│1915.│1916.│1917.│1918.│1919.│1920.│1921.│1922.
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Jan. │ 182│ 157│ 200│ 239│ 224│ 157│ 256│ │ │
Feb. │ 149│ 145│ 166│ 193│ 162│ 212│ 212│ │ │
Mar. │ 141│ 127│ 149│ 157│ 131│ 232│ 155│ │ │
Apr. │ 129│ 103│ 109│ 119│ 116│ 190│ 147│ │ │
May │ 133│ 110│ 132│ 135│ 127│ 157│ 163│ │ │
June │ 149│ 139│ 130│ 128│ 114│ 121│ 182│ │ │
July │ 126│ 112│ 122│ 122│ 110│ 153│ 146│ │ │
Aug. │ 132│ 102│ 109│ 136│ 79│ 105│ 96│ │ │
Sep. │ 131│ 90│ 97│ 106│ 58│ 98│ 110│ │ │
Oct. │ 134│ 119│ 85│ 164│ 92│ 159│ 135│ │ │
Nov. │ 133│ 95│ 152│ 207│ 146│ 202│ 182│ │ │
Dec. │ 189│ 226│ 223│ 218│ 168│ 223│ 234│ │ │
──────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals│1,728│1,525│1,674│1,924│1,527│2,009│2,018│ │ │
──────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
The next problem is to eliminate the normal seasonal variation. For
example, hog prices have a normal tendency to go down in the fall of the
year, whereas bank clearings have an equally normal tendency to go up.
Obviously, seasonal trends must be eliminated if such series as hog
prices and bank clearings are to be compared.
As an average of the fourteen years from 1903 to 1916, inclusive, heavy
hog prices at Chicago averaged in January, $6.54; February, $6.83;
March, $7.22; April, $7.30; May, $7.10; June, $7.10; July, $7.18;
August, $7.14; September, $7.29; October, $7.08; November, $6.65;
December, $6.55; average for the entire year, $7. On this basis, January
is 93 per cent of the yearly average; February, 98 per cent; March, 103
per cent; April, 104 per cent; May, 101 per cent; June, 101 per cent;
July, 103 per cent; August, 102 per cent; September, 104 per cent;
October, 101 per cent; November, 95 per cent, and December, 94 per cent.
The December average for 1902–1915 is $6.30, or 90 per cent. Obviously,
the seasonal variation as just stated in percentages is affected to some
extent by the secular trend, for the Decembers of 1902–1915 average 90
per cent, and those of 1903–1916 average 94 per cent. Taking the secular
trend out of our seasonal, or adding 2 points to the early months of the
year and subtracting 2 points from the last months of the year, we get
approximately: January, 95; February, 99; March, 104; April, 105; May,
102; June, 101; July, 103; August, 102; September, 103; October, 100;
November, 94, and December, 92.[6]
Hog receipts at Chicago, in the same manner, have a modified seasonal
factor of January, 132 per cent; February, 117 per cent; March, 102 per
cent; April, 85 per cent; May, 99 per cent; June, 99 per cent; July, 87
per cent; August, 87 per cent; September, 74 per cent; October, 86 per
cent; November, 103 per cent; December, 129 per cent.
For bank clearings outside of New York City, the modified seasonal
factors are: January, 109; February, 93; March, 104; April, 100; May,
99; June, 97; July, 98; August, 90; September, 93; October, 108;
November, 103, and December, 106.
After securing normal seasonal variation, the next step is to modify
secular trend for seasonal variation. Secular trend of hog prices, as
modified seasonally, is portrayed in Chart II. The secular trend price
of hogs in January, 1903, is $5.19, which sum, multiplied by the
seasonal factor 96, gives $4.98 as the secular price of hogs modified
seasonally for January, 1903. The actual price was $6.60, or $1.62 above
the secular modified seasonally, or 31 per cent greater than the secular
price of $5.19. In this way the percentage of departure for each month
from 1903 thru 1916 may be figured. This has been done for hog prices,
hog receipts and bank clearings outside of New York City.[7]
Now, as it happens, hog receipts are a much more violently fluctuating
series than bank clearings outside of New York City. To put the series
on an even footing, resort is made to what is known as the standard
deviation. To secure the standard deviation of hog price percentage
departures, add up the squares of these departures. The total for the
168 months from 1903 thru 1916 is 31,894, or, dividing by 168, we get
190. The square root of 190 is 13.8, which is the standard deviation of
hog prices. Standard deviation means that the probabilities are that on
the average not more than one out of three of the series of figures
under consideration will exceed the standard deviation. Standard
deviation for hog receipts is 15, and for bank clearings 8.7. This
indicates that hog receipts depart from the secular trend as modified
seasonally with nearly twice as great violence as do bank clearings.
To put all three series on the same footing, we divide the percentage
departures by the standard deviation, 13.8 in the case of hog prices, 15
in the case of hog receipts, and 8.7 in the case of bank clearings. In
January of 1903, for example, hog prices were greater than the secular
modified seasonally by 2.3 times the standard deviation; hog receipts
were less by .3 of the standard deviation, and bank clearings were over
by .9 of the standard deviation. The cycles of the hog prices, hog
receipts and bank clearings, as secured in this way by reducing for
standard deviation, are comparable. The results are charted in Charts
III, IV, V.
[Illustration:
Chart I—Irregular line represents actual Chicago hog prices. Straight
line represents secular trend.
]
[Illustration:
Chart II is identical with Chart I except that the dotted line has
been added, which represents the secular trend as corrected
seasonally.
]
It may be seen from examining these charts that hog prices seem to be
related directly to bank clearings and inversely to hog receipts. The
problem is: Blend hog receipts and bank clearings together in such a way
as to secure hog prices. The mathematical method of approach is by
correlation coefficients and lines of regression.
First, a simple illustration of the method of securing correlation
coefficients:
Take the two series, A and B, which deviate from their respective means
by the amounts stated in Columns 2 and 3. In Column 1 is the year, which
has nothing to do with the mathematics of the case. Column 4 is A
squared, Column 5 is B squared, and Column 6 is A multiplied by B.
═════════╤═════════╤═════════╤═════════╤═════════╤═════════
1 │ 2 │ 3 │ 4 │ 5 │ 6
─────────┼─────────┼─────────┼─────────┼─────────┼─────────
│ A │ B │A squared│B squared│A times B
─────────┼─────────┼─────────┼─────────┼─────────┼─────────
1901 │ −3│ −5│ 9│ 25│ +15
1902 │ −1│ +1│ 1│ 1│ −1
1903 │ +2│ +3│ 4│ 9│ +6
1904 │ +2│ +1│ 4│ 1│ +2
Sum │ │ │ 18│ 36│ +22
─────────┴─────────┴─────────┴─────────┴─────────┴─────────
The standard deviation of A is the square root of the sum of the A
squares, or 18, divided by 4. The square root of 18 divided by 4 is 2.1.
Standard deviation of B, in like manner, is 3. The sum of AB divided by
4, or +22 divided by 4, equals +5.5. The correlation coefficient is +5.5
divided by the standard deviation of A multiplied by the standard
deviation of B, or 5.5 divided by 6.3, which gives +.87. A correlation
coefficient of .87 is very high, perfect correlation being 1.
Correlation over .5 is considered fairly good, especially if there is a
long list (fifty or more) of figures in each series.
The formula for determining A in terms of B is:
A equals r((σ_{a})/(σ_{b}))B
In this formula, r is the correlation coefficient and σa is the standard
deviation of A, and σb is the standard deviation of B. Substituting for
the specific problem, we get:
A equals .87((2.1)/(3.0))B or
A equals .609 B
When B is −5 we would expect A to be 3.05; when B is +1 we would expect
A to be +.609; when B is +3, we would expect A to be 1.827.
Suppose now, in addition, that there are three series: A, B and C, and
that the object is to determine A in terms of B and C. The three series
stand:
════╤════════════╤════════════╤════════════
│ A │ B │ C
────┼────────────┼────────────┼────────────
1901│ −3│ −5│ +2
1902│ −1│ +1│ +3
1903│ +2│ +3│ −3
1904│ +2│ +1│ −2
────┴────────────┴────────────┴────────────
We already know that the standard deviation of A is 2.1, and of B is
3.0, and that the correlation coefficient between A and B is +.87. Using
the customary method, we find that the standard deviation of C is 2.55
and that the correlation coefficient of A and C is −.89, and of B and C
−.59. To find A in terms of B and C, we use the following formula:
A equals ((r_{ab} − r_{ac}r_{bc})/(1 − r^2_{bc}))((σ_{a})/(σ_{b}))B
+ ((r_{ac} − r_{ab}r_{bc})/(1 − r^2_{bc}))((σ_{a})/(σ_{c}))C
In this formula r_{ab} means correlation coefficient between A and B,
etc.; σ_{a} means standard deviation of A.
Substituting, we get:
A equals ((+.87 − .53)/(.65))((2.1)/(3.0))B − ((−.89 +
.51)/(.65))((2.1)/(2.55))C
or, A equals .37B − .49C
[Illustration:
Chart III. Cycles of hog prices secured by dividing the percentage
deviation of actual prices from the secular corrected seasonally, by
the standard deviation.
]
[Illustration:
Chart IV—Cycles of hog receipts, secured by dividing the percentage
deviation from secular trend corrected seasonally, by the standard
deviation.
]
[Illustration:
Chart V—Cycles of bank clearings outside of New York City, secured by
dividing the percentage deviation from the secular trend corrected
seasonally, by the standard deviation.
]
Applying this formula, we find that when C is +2 and B is −5, as in the
year 1901, we would expect A to be −2.83, and when C is +3 and B is +1,
as in 1902, we would expect A to be −1.1. In like manner, in 1903, we
would expect A to be +2.60 and in 1904 +1.35.
The results expressed in a table are:
════╤════════╤══════════════════════════════════════
│Actual A│A as predicted by formula from B and C
────┼────────┼──────────────────────────────────────
1901│ −3│ −2.83
1902│ −1│ −1.10
1903│ +2│ +2.60
1904│ +2│ +1.35
────┴────────┴──────────────────────────────────────
The practical problem is to express hog prices in terms of hog receipts
and bank clearings. Practically the same method is used with the 168
months from 1903 thru 1916, as with the four years which have just been
used for illustration.
The standard deviations are 10.1 for hog receipts, 10.5 for hog prices
and 9.8 for bank clearings. The correlation coefficients are +.39
between hog prices and bank clearings, +.26 between hog receipts and
bank clearings, and −.4 between hog receipts and hog prices.
Using the formula:
A equals r((σ_{a})/(σ_{b}))B
and allowing A to represent hog prices and B to represent bank
clearings, we get:
Hog prices equal .39((10.5)/(0.8)) bank clearings, or
Hog prices equal .417 bank clearings
This formula is converted back into percentage departures from secular
trend modified seasonally, and finally into hog prices as affected by
bank clearings. The demand, or bank clearing, price, of hogs as compared
with the actual is shown in Chart VI.
In like manner we get:
Hog prices equal −.4((10.5)/(10.1)) hog receipts, or
Hog prices equal −.426 hog receipts
This formula is converted back into percentage departures from the
secular trend modified seasonally, and finally into hog prices as
affected by hog receipts. The supply price of hogs as compared with the
actual is shown in Chart VII.
[Illustration:
Chart VI—Dotted line is the demand price of hogs, based on bank
clearings. Irregular solid line is actual price, and straight line
is secular trend.
]
[Illustration:
Chart VII—Dotted line is supply price of hogs, based on receipts at
Chicago. Irregular solid line is actual price, and straight line is
secular trend.
]
[Illustration:
Chart VIII—Dotted line is supply-and-demand price of hogs, based on
bank clearings and hog receipts. Irregular solid line is actual
price.
]
Using the longer formula on page 89, we get: Hog prices equal .56 bank
clearings minus .56 hog receipts. Or converted into percentage
departures from the secular trend corrected seasonally: .90 of bank
clearings in percentage departures minus .51 of hog receipts in
percentage departures equals the percentage which hog prices depart from
their secular corrected seasonally. For instance, in January, 1903, bank
clearings were 8 per cent above the secular corrected seasonally, and
hog receipts were 5 per cent below. Eight times .90 plus 5 times .51
gives 9.7 as the percentage which we would expect hog prices to be over
their secular corrected seasonally. The secular for January, 1903, was
$5.19; 9.7 per cent of $5.19 gives 50 cents. The secular corrected
seasonally for January, 1903, is $4.98. Add 50 cents to $4.98 and we get
$5.48 as the price which we would have expected heavy hogs to sell at
Chicago in January, 1903, on the basis of good business and small hog
receipts. Actually, hogs sold for $6.60, or $1.12 over the price
predicted by formula.
This is done for all the months from 1903 to 1916, and the
supply-and-demand price of hogs, as derived from hog receipts at Chicago
and bank clearings outside of New York is charted in Chart VIII, in
comparison with the actual prices.
PREDICTING THE FUTURE OF HOG PRICES
We assume that at the present time, and probably for some time to come,
we are on a basis of 90 per cent above 1913 for hog prices, and 100 per
cent over 1913 in bank clearings. This conclusion is based to some
extent on the reasoning presented in the June monthly supplement of the
Harvard Review of Economic Statistics for the year 1919.
On this basis, the secular trend of heavy hog prices at Chicago,
modified seasonally, should be roughly as follows for the several years
beginning with 1919: January, $14.35; February, $15.07; March, $15.82;
April, $15.67; May, $15.22; June, $15.22; July, $15.52; August, $15.22;
September, $15.52; October, $15.07; November, $14.16, and December,
$13.86.[8] This is on the assumption that hog prices and prices
generally will have for their normal mean a level 90 per cent above the
1913 level. It is expected that in a rough way hog prices will depart
from this level according to the size of hog receipts and the condition
of general business as expressed by bank clearings. (During 1920, and
possibly 1921, heavy exports will doubtless have influence.)
The secular trend of bank clearings outside New York, modified
seasonally, for the year beginning with 1919, is taken as: January,
$13,952,000,000; February, $11,648,000,000; March, $13,056,000,000;
April, $12,800,000,000; May, $12,416,000,000; June, $12,416,000,000;
July, $12,544,000,000; August, $11,648,000,000; September, $12,032,000;
October, $13,824,000,000; November, $13,440,000,000, and December,
$13,824,000,000.
The secular trend of hog receipts at Chicago in millions of pounds,
modified seasonally, for the period beginning with 1919, is taken as:
January, 184; February, 163; March, 143; April, 118; May, 139; June,
139; July, 121; August, 121; September, 103; October, 120; November,
144, and December, 180.
Based on the formula as secured in the preceding chapter (hog price
equals .56 bank clearings minus .56 hog receipts), we would expect the
following scale of hog prices in January, when receipts follow the
secular trend (184,000,000 pounds at Chicago), but bank clearings are
variable:
Bank Clearings in January. Heavy Hog Prices.
$11,000,000,000 $11.35
11,500,000,000 11.85
16,500,000,000 16.85
In like manner, tables may be made up for each month of the year, the
idea being that for each $500,000,000 the bank clearings outside of New
York are above or below the secular trend seasonally modified, fifty
cents is added to or subtracted from the secular trend hog price
seasonally modified. Thus for April the tables would be:
Bank Clearings in April. Heavy Hog Prices.
$ 9,800,000,000 $12.67
12,800,000,000 15.67
15,800,000,000 18.67
Taking the tables as worked out for bank clearings and hog prices, we
next modify for hog receipts. An excess of 33,000,000 pounds of hog
receipts at Chicago in a month means on the average $1.80 lower prices,
and vice versa. Thus, in January, with bank clearings at
$13,952,000,000, we would expect the following prices with various sizes
of hog receipts:
Hog Receipts (in Pounds). Heavy Hog Prices.
162,000,000 $15.55
184,000,000 14.35
195,000,000 13.75
206,000,000 13.15
228,000,000 11.95
The tables herewith give this problem worked out in detail for the
various months. It is realized that at this writing, in early 1920,
financial matters are still so deranged by the great war that our
secular trend for bank clearings may be wide of the mark. This is the
best prediction we can offer at this writing, and we are offering it
fully aware of its weakness, but fully believing that predictions of
this sort will stimulate more thoro research. It is believed that better
measures of demand may eventually be found than bank clearings outside
of New York City, and that better measures of supply may be found than
receipts at Chicago. Also there is a possibility that the varying size
of exports of hog products should be taken into account.
PRICE OF HEAVY HOGS PER HUNDREDWEIGHT, AS PREDICTED FROM HOG RECEIPTS
AND BANK CLEARINGS OUTSIDE OF NEW YORK CITY.
JANUARY.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 162 │ 173 │ 184 │ 195 │ 206 │ 217 │ 228 │ 239
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$13,000,000,000│$14.55│$13.95│$13.35│$12.75│$12.15│$11.55│$10.95│$10.35
13,500,000,000│ 15.05│ 14.45│ 13.85│ 13.25│ 12.65│ 12.05│ 11.45│ 10.85
14,000,000,000│ 15.55│ 14.95│ 14.35│ 13.75│ 13.15│ 12.55│ 11.95│ 11.35
14,500,000,000│ 16.05│ 15.45│ 14.85│ 14.25│ 13.65│ 13.05│ 12.45│ 11.85
15,000,000,000│ 16.55│ 15.95│ 15.35│ 14.75│ 14.15│ 13.55│ 12.95│ 12.35
15,500,000,000│ 17.05│ 16.45│ 15.85│ 15.25│ 14.65│ 14.05│ 13.45│ 12.85
16,000,000,000│ 17.55│ 16.95│ 16.35│ 15.75│ 15.15│ 14.55│ 13.95│ 13.35
16,500,000,000│ 18.05│ 17.45│ 16.85│ 16.25│ 15.65│ 15.05│ 14.45│ 13.85
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
FEBRUARY.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 141 │ 152 │ 163 │ 174 │ 185 │ 196 │ 207 │ 218
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$10,600,000,000│$15.27│$13.67│$14.07│$13.47│$11.87│$12.27│$11.67│$11.07
11,100,000,000│ 15.77│ 14.17│ 14.57│ 13.97│ 12.37│ 12.77│ 12.17│ 11.57
11,600,000,000│ 16.27│ 14.67│ 15.07│ 14.47│ 12.87│ 13.27│ 12.67│ 12.07
12,100,000,000│ 16.77│ 15.17│ 15.57│ 14.97│ 13.37│ 13.77│ 13.17│ 12.57
12,600,000,000│ 17.27│ 15.67│ 16.07│ 15.47│ 13.87│ 14.27│ 13.67│ 13.07
13,100,000,000│ 17.77│ 16.17│ 15.57│ 15.97│ 14.37│ 14.77│ 14.17│ 13.57
13,600,000,000│ 18.27│ 16.67│ 17.07│ 16.47│ 14.87│ 15.27│ 14.67│ 14.07
14,100,000,000│ 18.77│ 17.17│ 17.57│ 16.97│ 15.37│ 15.77│ 15.17│ 14.57
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MARCH.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 121 │ 132 │ 143 │ 154 │ 165 │ 176 │ 187 │ 198
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$12,100,000,000│$16.02│$15.42│$14.82│$14.22│$13.62│$13.02│$12.42│$11.82
12,600,000,000│ 16.52│ 15.92│ 14.32│ 14.72│ 14.12│ 13.52│ 12.92│ 12.32
13,100,000,000│ 17.02│ 16.42│ 15.82│ 15.22│ 14.62│ 14.02│ 13.42│ 12.82
13,600,000,000│ 17.52│ 16.92│ 16.32│ 15.72│ 15.12│ 14.52│ 13.92│ 13.32
14,100,000,000│ 18.02│ 17.42│ 16.82│ 16.22│ 15.62│ 15.02│ 14.42│ 13.82
14,600,000,000│ 18.52│ 17.92│ 17.32│ 16.72│ 16.12│ 15.52│ 14.92│ 14.32
15,100,000,000│ 19.02│ 18.42│ 17.72│ 17.22│ 16.62│ 16.02│ 15.42│ 14.82
15,600,000,000│ 19.52│ 18.92│ 18.32│ 17.72│ 17.12│ 16.52│ 15.92│ 15.32
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
APRIL.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 96 │ 107 │ 118 │ 129 │ 140 │ 151 │ 162 │ 173
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$11,800,000,000│$15.87│$15.27│$14.67│$14.07│$13.47│$12.87│$12.27│$11.67
12,300,000,000│ 16.37│ 15.77│ 15.17│ 14.57│ 13.97│ 13.37│ 12.77│ 12.17
12,800,000,000│ 16.87│ 16.27│ 15.67│ 15.07│ 14.47│ 13.87│ 13.27│ 12.67
13,300,000,000│ 17.37│ 16.77│ 16.17│ 15.57│ 14.97│ 14.37│ 13.77│ 13.17
13,800,000,000│ 17.87│ 17.27│ 16.67│ 16.07│ 15.47│ 14.87│ 14.27│ 13.67
14,300,000,000│ 18.37│ 17.77│ 17.17│ 16.57│ 15.97│ 15.37│ 14.77│ 14.17
14,800,000,000│ 18.87│ 18.27│ 17.67│ 17.07│ 16.47│ 15.87│ 15.27│ 14.67
15,300,000,000│ 19.37│ 18.77│ 18.17│ 17.57│ 16.97│ 16.37│ 15.77│ 15.17
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MAY.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 117 │ 128 │ 139 │ 150 │ 161 │ 172 │ 183 │ 194
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$11,400,000,000│$15.42│$14.82│$14.22│$13.62│$13.02│$12.42│$11.82│$11.22
11,900,000,000│ 15.92│ 15.32│ 14.72│ 14.12│ 13.52│ 12.92│ 12.32│ 11.72
12,400,000,000│ 16.42│ 15.82│ 15.22│ 14.62│ 14.02│ 13.42│ 12.82│ 12.22
12,900,000,000│ 16.92│ 16.32│ 15.72│ 15.12│ 14.52│ 13.92│ 13.32│ 12.72
13,400,000,000│ 17.42│ 16.82│ 16.22│ 15.62│ 15.02│ 14.42│ 13.82│ 13.22
13,900,000,000│ 17.92│ 17.32│ 16.72│ 16.12│ 15.52│ 14.92│ 14.32│ 13.72
14,400,000,000│ 18.42│ 17.82│ 17.22│ 16.62│ 16.02│ 15.42│ 14.82│ 14.22
14,900,000,000│ 18.92│ 18.32│ 17.72│ 17.12│ 16.52│ 15.92│ 15.32│ 14.72
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
JUNE.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 117 │ 128 │ 139 │ 150 │ 161 │ 172 │ 183 │ 194
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$11,400,000,000│$15.42│$14.82│$14.22│$13.62│$13.02│$12.42│$11.82│$11.22
11,900,000,000│ 15.92│ 15.32│ 14.72│ 14.12│ 13.52│ 12.92│ 12.32│ 11.72
12,400,000,000│ 16.42│ 15.82│ 15.22│ 14.62│ 14.02│ 13.42│ 12.82│ 12.22
12,900,000,000│ 16.92│ 16.32│ 15.72│ 15.12│ 14.52│ 13.92│ 13.32│ 12.72
13,400,000,000│ 17.42│ 16.82│ 16.22│ 15.62│ 15.02│ 14.42│ 13.82│ 13.22
13,900,000,000│ 17.92│ 17.32│ 16.72│ 16.12│ 15.52│ 14.92│ 14.32│ 13.72
14,400,000,000│ 18.42│ 17.82│ 17.22│ 16.62│ 16.02│ 15.42│ 14.82│ 14.22
14,900,000,000│ 18.92│ 18.32│ 17.72│ 17.12│ 16.52│ 15.92│ 15.32│ 14.72
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
JULY.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 99 │ 110 │ 121 │ 132 │ 143 │ 154 │ 165 │ 176
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$11,500,000,000│$15.72│$15.12│$14.52│$13.92│$13.32│$12.72│$12.12│$11.52
12,000,000,000│ 16.22│ 15.62│ 15.02│ 14.42│ 13.82│ 13.22│ 12.62│ 12.02
12,500,000,000│ 16.72│ 16.12│ 15.52│ 14.92│ 14.32│ 13.72│ 13.12│ 12.52
13,000,000,000│ 17.22│ 16.62│ 16.02│ 15.42│ 14.82│ 14.22│ 13.62│ 13.02
13,500,000,000│ 17.72│ 17.12│ 16.52│ 15.92│ 15.32│ 14.72│ 14.12│ 13.52
14,000,000,000│ 18.22│ 17.62│ 17.02│ 16.42│ 15.82│ 15.22│ 14.62│ 14.02
14,500,000,000│ 18.72│ 18.12│ 17.52│ 16.92│ 16.32│ 15.72│ 15.12│ 14.52
15,000,000,000│ 19.22│ 18.62│ 18.02│ 17.42│ 16.82│ 16.22│ 15.62│ 15.02
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AUGUST.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 99 │ 110 │ 121 │ 132 │ 143 │ 154 │ 165 │ 176
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$10,600,000,000│$15.42│$14.82│$14.22│$13.62│$13.02│$12.42│$11.82│$11.22
11,100,000,000│ 15.92│ 15.32│ 14.72│ 14.12│ 13.52│ 12.92│ 12.32│ 11.72
11,600,000,000│ 16.42│ 15.82│ 15.22│ 14.62│ 14.02│ 13.42│ 12.82│ 12.22
12,100,000,000│ 16.92│ 16.32│ 15.72│ 15.12│ 14.52│ 13.92│ 13.32│ 12.72
12,600,000,000│ 17.42│ 16.82│ 16.22│ 15.62│ 15.02│ 14.42│ 13.82│ 13.22
13,100,000,000│ 17.92│ 17.32│ 16.72│ 16.12│ 15.52│ 14.92│ 14.32│ 13.72
13,600,000,000│ 18.42│ 17.82│ 17.22│ 16.62│ 16.02│ 15.42│ 14.82│ 14.22
14,100,000,000│ 18.92│ 18.32│ 17.72│ 17.12│ 16.52│ 15.92│ 15.32│ 14.72
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
SEPTEMBER.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 81 │ 92 │ 103 │ 114 │ 125 │ 136 │ 147 │ 158
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$11,000,000,000│$15.72│$15.12│$14.52│$13.92│$13.32│$12.72│$12.12│$11.52
11,500,000,000│ 16.22│ 15.62│ 15.02│ 14.42│ 13.82│ 13.22│ 12.62│ 12.02
12,000,000,000│ 16.72│ 16.12│ 15.52│ 14.92│ 14.32│ 13.72│ 13.12│ 12.52
12,500,000,000│ 17.22│ 16.62│ 16.02│ 15.42│ 14.82│ 14.22│ 13.62│ 13.02
13,000,000,000│ 17.72│ 17.12│ 16.52│ 15.92│ 15.32│ 14.72│ 14.12│ 13.52
13,500,000,000│ 18.22│ 17.62│ 17.02│ 16.42│ 15.82│ 15.22│ 14.62│ 14.02
14,000,000,000│ 18.72│ 18.12│ 17.52│ 16.92│ 16.32│ 15.72│ 15.12│ 14.52
14,500,000,000│ 19.22│ 18.62│ 18.02│ 17.42│ 16.82│ 16.22│ 15.62│ 15.02
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
OCTOBER.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 98 │ 109 │ 120 │ 131 │ 142 │ 153 │ 164 │ 175
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$12,800,000,000│$15.27│$14.67│$14.07│$13.47│$12.87│$12.27│$11.67│$11.07
13,300,000,000│ 15.77│ 15.17│ 14.57│ 13.97│ 13.37│ 12.77│ 12.17│ 11.57
13,800,000,000│ 16.27│ 15.67│ 15.07│ 14.47│ 13.87│ 13.27│ 12.67│ 12.07
14,300,000,000│ 16.77│ 16.17│ 15.57│ 14.97│ 14.37│ 13.77│ 13.17│ 12.57
14,800,000,000│ 17.27│ 16.67│ 16.07│ 15.47│ 14.87│ 14.27│ 13.67│ 13.07
15,300,000,000│ 17.77│ 17.17│ 16.57│ 15.97│ 15.37│ 14.77│ 14.17│ 13.57
15,800,000,000│ 18.27│ 17.67│ 17.07│ 16.47│ 15.87│ 15.27│ 14.67│ 14.07
16,300,000,000│ 18.77│ 18.17│ 17.57│ 16.97│ 16.37│ 15.77│ 15.17│ 14.57
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
NOVEMBER.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 122 │ 133 │ 144 │ 155 │ 166 │ 177 │ 188 │ 199
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$12,400,000,000│$14.36│$13.76│$13.16│$12.56│$11.96│$11.36│$10.76│$10.16
12,900,000,000│ 14.86│ 14.26│ 13.66│ 13.06│ 12.46│ 11.86│ 11.26│ 10.66
13,400,000,000│ 15.36│ 14.76│ 14.16│ 13.56│ 12.96│ 12.36│ 11.76│ 11.16
13,900,000,000│ 15.86│ 15.26│ 14.66│ 14.06│ 13.46│ 12.86│ 12.26│ 11.66
14,400,000,000│ 16.36│ 15.76│ 15.16│ 14.56│ 13.96│ 13.36│ 12.76│ 12.16
14,900,000,000│ 16.86│ 16.26│ 15.66│ 15.06│ 14.46│ 13.86│ 13.26│ 12.66
15,400,000,000│ 17.36│ 16.76│ 16.16│ 15.56│ 14.96│ 14.36│ 13.76│ 13.16
15,900,000,000│ 17.86│ 17.26│ 16.66│ 16.06│ 15.46│ 14.86│ 14.26│ 13.66
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
DECEMBER.
═══════════════╤═══════════════════════════════════════════════════════
Bank Clearings │ Hog Receipts at Chicago, in Millions of Pounds.
Outside New │
York. │
───────────────┼──────┬──────┬──────┬──────┬──────┬──────┬──────┬──────
„ │ 158 │ 169 │ 180 │ 191 │ 202 │ 213 │ 224 │ 235
───────────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
$12,800,000,000│$14.06│$13.46│$12.86│$12.26│$11.66│$11.06│$10.46│$ 9.86
13,300,000,000│ 14.56│ 13.96│ 13.36│ 12.76│ 12.16│ 11.56│ 10.96│ 10.36
13,800,000,000│ 15.06│ 14.46│ 13.86│ 13.26│ 12.66│ 12.06│ 11.46│ 10.86
14,300,000,000│ 15.56│ 14.96│ 14.36│ 13.76│ 13.16│ 12.56│ 11.96│ 11.36
14,800,000,000│ 16.06│ 15.46│ 14.86│ 14.26│ 13.66│ 13.06│ 12.46│ 11.86
15,300,000,000│ 16.56│ 15.96│ 15.36│ 14.76│ 14.16│ 13.56│ 12.96│ 12.36
15,800,000,000│ 17.06│ 16.46│ 15.86│ 15.26│ 14.66│ 14.06│ 13.46│ 12.86
16,300,000,000│ 17.56│ 16.96│ 16.36│ 15.76│ 15.16│ 14.56│ 13.96│ 13.36
───────────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
LIMITATIONS OF THE MATHEMATICAL METHOD
Such a mathematical formula as: Hog prices equal .56 bank clearings—.56
hog receipts must always be applied with common sense. In November of
1914, for instance, hog receipts at Chicago were abnormally small on
account of foot-and-mouth disease, and in December of the same year they
were abnormally large for the same reason. Judging from receipts, we
might have expected heavy hogs to sell for $8.83 in November and $6.44
in December. As a matter of fact, the actual price was $7.50 in November
and $7.10 in December. It was commonly recognized by the trade that hog
receipts at Chicago in November and December of 1914 were abnormal, and
not representative of the potential supply in the country at large.
Occasionally, as in November of 1907, falling prices act to curtail
receipts. The small receipts in November, 1907, would have indicated a
price of $6.75, whereas the actual price was $4.90. As a matter of fact,
there was a large number of hogs that year, and the actual price
reflected the potential supply rather than the temporary supply.
It is possible to refine the method considerably. For instance, it may
be worth while to proceed on the assumption that the relation between
hog prices and hog receipts is best expressed by an equation
representative of a hyperbola or skew curve instead of a straight line.
The straight line equation, based on the years 1903 to 1915, inclusive,
is:
Hog prices equal −.8 −.56 hog receipts.
The hyperbola equation for these years is:
Hog prices equal −1.24 −.55 hog receipts
+.0046 hog receipts
squared.
The skew or cubic curve equation is:
Hog prices equal −1.18 −.24 hog receipts
+.0027 hog receipts squared
−.00079 hog receipts cubed.
Using these more complex mathematical methods, it is often possible to
express the relationships more exactly. But no method, however far
refined, will take the place of common sense market judgment.
Nevertheless, it may be decidedly helpful to a better understanding of
the normal working of supply and demand to use both hyperbolas and cubic
curves on occasion.
[Illustration:
Chart illustrating the straight line as compared with the skew curve,
for purposes of expressing the relation between hog receipts at
Chicago and hog prices at Chicago. On the basis of the curve when
the receipts are 45 per cent less than the secular trend corrected
seasonally, the price should be 38 per cent over, and when the
receipts are 42 per cent over the secular trend corrected
seasonally, the price should be 33 per cent under.
]
Other refinements of the mathematical study of hog prices may consist in
working out the correlation coefficients between hog prices and receipts
at six markets or eleven markets instead of using Chicago receipts
alone. Work may be done looking into the relation between hog prices and
potential supply as contrasted with the temporary or month-by-month
supply. So far as the relation between hog prices and business
conditions is concerned, it should be worth while to work out
correlation coefficients between hog prices and the amount of new
building, or hog prices and Dun’s index number. In fact, there are a
great many measures of business activities which may possibly measure
the demand for hogs better than bank clearings outside of New York
City.[9]
Some people may think it advisable to work out a correlation and line of
regression illustrating the relation between hog prices and corn prices.
This has been attempted, but it has been found that after the secular
and seasonal trends are taken out of both corn prices and hog prices
there is practically no relation between them. It is a curious
commentary on our present marketing systems that corn prices and hog
prices, while very closely related decade by decade, have very little
influence on each other month by month. In other words, changing costs
of production can have practically nothing to do with the month-by-month
changes in the market price under our present economic system. Unusually
high corn prices today are more likely to influence the hog prices of
next year than the hog prices of today.
After everything has been done which can be done by mathematical method,
there will still be room for common sense judgment. But such judgment is
best applied by men wise in market lore, men familiar with the technique
of production, and who also are familiar with such mathematical methods
as are here described.
CONCLUSIONS BASED ON RATIOS AND MATHEMATICS OF SUPPLY AND DEMAND
By means of corn-hog ratios, it is possible to determine with great
accuracy month by month the production cost of one hundred pounds of hog
flesh. The actual price, however, has been quite different from the
cost-of-production price, except as an average of long periods of time.
This is indicated by the profit and loss chart on page 32, the black
areas above and below the zero line indicating the departure of the
actual price from the ratio or cost of production price.
The actual price heretofore has been determined chiefly by the action of
supply and demand and not by cost of production. The close agreement
between actual price and the supply-and-demand price as based on a
formula derived from bank clearings and hog receipts is shown on page
96. In the chart on page 107 are presented the cost-of-production price
based on ratios and the supply-and-demand price as based on bank
clearings and hog receipts.
The ratio or cost-of-production price is much steadier than the
supply-and-demand price. If the farmers could arrange with the packers
for a price more nearly representing the cost-of-production or ratio
price, it is obvious that the supply of hogs might be considerably
steadied. Once farmers realize that neither excessive profits nor
excessive losses are to be expected in the hog business, they will
steady down to producing about the same number of hogs each year, and
they will send them to market in a uniform stream, instead of in
irregular spurts.
Of course, there are always uncertainties in the way of weather,
disease, etc. Hot, dry weather in July and August may curtail the corn
crop and shoot up the price of corn and the cost of producing hogs. Such
hot, dry weather immediately increases the cost of producing hogs. The
packers, heretofore, have been either unable or unwilling to pay a price
for hogs sufficient to cover the increased cost of production caused by
the hot, dry weather, and as a result they have been compelled to pay
more than cost of production a year or so later. Why shouldn’t the
packers and farmers constantly educate the public to pay the
cost-of-production price? Tell the public that the drouth and high corn
prices have increased the cost of producing hogs, and the price must be
increased to prevent a shortage next year. Why shouldn’t the farmers try
to find a way to regulate the supply with an iron hand, in an endeavor
to maintain approximately the cost-of-production price at all times?
This means willingness to lower the price of hogs in years when the corn
crop is large, as well as ability to raise the price in years of a short
corn crop.
[Illustration:
Dotted line represents the supply-and-demand price of hogs as derived
from bank clearings and hog receipts. Solid line represents cost of
producing hogs, based on corn-hog ratios.
]
Unquestionably there are vagaries in the consuming demand for pork which
might make the payment of a cost-of-production price difficult for a
time. It is believed, however, that powerful corn belt farmers’
organizations working in co-operation with the packers should be able to
educate consumers to the cost-of-production idea, and so far as seasonal
vagaries in the demand are concerned, the farmers and packers should be
able to come to an agreement providing for paying rather more than the
demand price for hogs in times of poor demand and rather less than the
demand price for hogs in times of good demand, in an effort to make
price meet cost of production rather than temporary demand
idiosyncrasies.
It is realized that the difficulties in the way of paying cost of
production at all times are even greater than here indicated. The idea,
in fact, runs counter to the _laissez faire_, competitive price system
under which business is conducted today. It is believed, however, that
in the future more and more attention must be paid to production and
less and less to price manipulation. To this end, products must be sold
at all times as nearly as possible at the cost-of-production price.
There must be no prospect of unusual profit or unusual loss in the
production of staple products. We are now referring to industries as a
whole. It is inevitable, of course, that certain individuals will make
great profits and others will incur losses, even in years when the
cost-of-production or ratio price is paid. Full consideration must
always be given to the physical facts and to special emergencies as they
arise. Standard ratios representing cost of production for an industry
may suddenly be rendered out-of-date by a new invention. New situations
must be recognized frankly, but at all times the guiding motive should
be to pay the cost-of-production price, in order that supply and demand
may operate more smoothly.
To give the cost of production price broader sway in our price system
does not necessarily involve governmental control. The first step is
education in price judging. Even in the grade schools and country
schools, ratio methods of price judgment should be taught. In high
schools the matter may be carried farther, and it is suggested that not
only should the ratio method of price judging be taught in high school,
but also the practical use of correlation coefficients and lines of
regression in determining prices from business conditions and the
supply. In college (and the colleges have been most neglectful in this
matter) specific problems should be worked out in great detail. Students
in such classes should have access to adding machines, calculating
machines, rechentaffels, and other modern devices for making
calculations easy and accurate. But the most important thing of all just
now is adequate research by colleges, by experiment stations, and by
governmental departments. The government and market agencies must
continue to improve their statistical records, and research students
must study these records with all the refinements of statistical method.
An excellent start along this line has been made by the Harvard
University Committee on Economic Research. This committee seems to be
concerned altogether with the industrial world. It is essential that the
agricultural world be given similar service.
The object of it all is to discover the best possible kind of machinery
thru which the law of supply and demand may work to the end that violent
fluctuations in supply and demand may be reduced to the lowest possible
point consistent with changing weather and unforeseeable accidents. The
present price system is not perfect; it can be improved. But before
improvements can be made, the present system must be studied with the
greatest thoroness. The great weakness of the present price system is
that the men who operate it are concerned chiefly with making the
greatest possible profit, and not at all with making the law of supply
and demand operate smoothly on a price level roughly equivalent to cost
of production.
The highest purpose of our price system should be to tell producers
truthfully what to do in the future, instead of capitalizing a temporary
supply and demand situation to the advantage of certain bright
speculators. The $4.50 price for hogs in January of 1908 was a lie so
far as it guided the future action of hog producers. So also was the $11
price in March of 1910. Both prices told the approximate truth about a
temporary supply-and-demand situation. But both were fundamentally lies.
Our whole _laissez faire_ system is full of lies of this sort. Surely we
have enough in the way of legitimate physical handicaps such as weather
and pests so that we should be willing to run our price system more
truthfully.
So far as farmers are concerned, the object of studies of this kind is,
first, to play the price game as well as capital and labor; and, second,
to co-operate with capital and labor to enforce prices roughly
equivalent to cost of production, to the end that supply and demand may
operate more smoothly.
It is anticipated that greater emphasis on “cost-of-production price”
and less emphasis on “supply-and-demand price” will result in gradually
replacing most business men with production engineers and statistical
economists. Business men have had profit as their sole motive. What we
need is production engineers whose chief concern is production methods,
and statistical economists who are able to understand the delicate
inter-relations of different industries. It is believed that there is in
most men a desire to do their work well, and that this desire will find
more complete expression, to the benefit of the bulk of the people,
under the guidance of men whose supreme motive is not profit but
technical understanding and love of the work to be done. All this
concerns the farmer, to the extent that when the industrial world shifts
to this kind of basis, he may be more certain of a stable price for his
products.
Substituting production engineers and statistical economists for
business men means doing away with the chance of excessive gains and
excessive losses. And this is proper so far as production of and trade
in staple products is concerned.
The only place where the commercial imagination of the old-fashioned
risk-taking business men has legitimate place is in working with things
which are not staple, such as theaters, luxuries, newspapers, etc.
APPENDIX
SUGGESTIONS CONCERNING THE TABLES IN THE APPENDIX
The man who studies the figures as to receipts, prices, etc., as they
unroll day by day and month by month in the great central markets
gradually develops market judgment. Of course, there is more in the
market than figures, but a thoro understanding of statistical
relationships, of normal seasonal trends, etc., is necessary before one
can fully appreciate the extraordinary or strategical considerations
which are occasionally involved.
It is suggested that those who are really interested in prices should
fill in month by month in the blank tables the figures as they become
available. Sources of current figures are the Market Reporter, published
weekly by the United States Department of Agriculture; the daily live
stock papers published at the great central markets; the Monthly Crop
Reporters, published by the United States Department of Agriculture,
and, so far as retail prices are concerned, the monthly publications of
the Bureau of Labor Statistics. It is hoped that eventually the Bureau
of Markets of the United States Department of Agriculture will have
available exceedingly valuable figures. At present, however, the Bureau
of Markets figures are practically worthless because they have not been
continued long enough to have sufficient background to enable anyone to
judge them properly.
The effort has been made in the prices here collected to cover the
period immediately preceding the war quite thoroly, in order that those
who are interested may work out normal pre-war relationships.
In all price questions, the problem of grade is involved. Gradually the
grade classifications have been made more and more scientific, but even
to this day there is haziness in certain products, notably cattle. It is
believed, therefore, that the cattle prices are more unreliable than any
other. Scientific grading of cattle is possible, and will be adopted as
soon as the producers are in position to demand it.
Market figures furnish the laboratory of economics. It is believed that
it is as essential for students at agricultural colleges to do
laboratory work in economics as it is for them to spend such a large
part of their time in the chemical, zoological or botanical
laboratories. When the agricultural students judge marketable live
stock, it is suggested that they be required to estimate the weight,
grade, dressing percentage and probable Chicago price. An ingenious
teacher, who is familiar with economics and market grades of grain and
live stock, can think of many devices to bring home to his students the
fact that the market is a living thing, yet subject to certain laws
which are almost as exact as Mendel’s law of inheritance.
The author will appreciate being informed of any mistakes in the
figures. Great pains have been taken to make them accurate, but it is
inevitable that a few mistakes will creep in.
* * * * *
The following gives a description of grades and sources of information
for some of the products for which figures are given in the tables of
the Appendix:
HEAVY HOG PRICES AT CHICAGO.
From 1896 to date, heavy hog prices, as compiled by Chas. A. S.
McCracken for the Chicago Drovers’ Journal Year Book, have been used.
From 1881 to 1895, inclusive, the average of the range of Chicago hog
prices, as compiled by the Cincinnati Price Current, has been used.
Properly speaking, these prices refer more nearly to average hogs than
to heavy hogs. Previous to 1881, prices have been compiled from the
Chicago Board of Trade Reports, the grade known as heavy packers and
shippers being used so far as possible.
* * * * *
CORN PRICES AT CHICAGO.
No. 2 mixed has been used thruout. From 1880 to 1916, inclusive, the
average of the high and low for the month has been taken. Since
January, 1917, each day of the month has been averaged. Previous to
1880, averages were taken either weekly or semi-monthly. All figures
are derived either from the Howard-Bartels Red Book or the Chicago
Board of Trade Reports. The two sources generally agree.
* * * * *
OATS PRICES AT CHICAGO.
Previous to 1876, the grade known as No. 1 was chiefly used. Since
1876, No. 2, Standard or Contract oats has been used. Previous to
1881, averages were taken weekly or semi-monthly. Since 1881, the high
and low for the month have been averaged. Previous to 1881, Chicago
Board of Trade Reports were used. Since 1881, the Howard-Bartels Red
Books have been used, which quote practically the same figures as the
Board of Trade.
* * * * *
WHEAT PRICES AT CHICAGO.
Previous to 1883, the grade known as No. 2 Spring was used, weekly or
semi-monthly averages being taken from the Chicago Board of Trade
Reports. From 1883 to 1903, inclusive, there is a slight confusion in
grades, but the No. 2 Spring is used chiefly, averages of high and low
for the month being taken from the Howard-Bartels Red Book.
From 1904 to 1913, inclusive, prices are based on No. 2 Red and No. 1
Northern, the high of the one and the low of the other being used.
From 1914 on, prices are based on No. 2 Red, No. 2 Hard and No. 1
Northern, the highest of the highest-priced grade and the lowest of
the lowest-priced grade being averaged.
* * * * *
LIVE STOCK PRICES AND RECEIPTS.
Practically all of the live stock figures since 1903 have been
compiled from the Chicago Drovers’ Journal Year Books. Mr. Chas. A. S.
McCracken has compiled the price figures from actual transactions day
by day in the stockyards for the past thirty years, and is still with
the Drovers’ Journal. The original source for live stock receipts is
the stock yards companies, but we have used the reports of the
Drovers’ Journal. For the years 1903, 1904 and 1905, for receipts at
six markets, we have used figures furnished by Mr. M. F. Horine,
statistician for the Chicago Union Stock Yards. These figures seem to
be comparable with the figures for the later years, except in the case
of cattle, where there is evidently some confusion in the counting of
calves. The cattle receipts at six markets, as published by 1903, 1904
and 1905 reports, are about 8 per cent too large to be truly
comparable with the later years.
* * * * *
RETAIL PRICES.
Retail price figures are taken from the publications of the Bureau of
Labor Statistics. Concerning the significance of these figures, the
following statement of Royal Meeker, Commissioner of Labor Statistics,
is of value: “We secure retail prices of 44 articles of food from 50
cities on the 15th of each month. The stores selected are those
patronized by wage-earners. The goods carried are standard grades and
brands. The Bureau requests that these grades and brands be uniform
thruout the year, as nearly as possible. Some of these stores are
‘cash-and-carry,’ and some of them deliver, depending on the locality
in which they are situated. The Bureau makes every effort to have each
city represented by a sufficient number of stores so the prices
published for that city will represent the average prices charged to
the wage-earner. Of course, the chances are that there will be
differences, as we do not carry either the high-class stores or the
cut-rate stores.”
CHICAGO HEAVY HOG PRICES.
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1860.│1861.│1862.│1863.│1864.│1865.│1866.│1867.│1868.│1869.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 4.85│ 5.05│ 2.35│ 3.60│ 5.90│11.15│ 9.30│ 6.10│ 6.60│10.15│ 6.51
February │ 5.25│ 5.00│ 2.50│ 4.05│ 6.35│11.30│ 9.45│ 6.50│ 7.75│10.35│ 6.85
March │ 5.05│ 4.75│ 3.00│ 4.15│ 6.55│11.15│ 9.40│ 6.60│ 8.65│ 9.85│ 6.92
April │ 4.90│ 4.55│ 2.90│ 4.25│ 6.95│ 9.50│ 8.55│ 6.80│ 8.55│ 9.75│ 6.67
May │ 4.80│ 3.85│ 2.50│ 3.75│ 6.45│ 7.80│ 8.95│ 5.90│ 7.65│ 8.75│ 6.08
July │ 5.20│ 2.70│ 2.55│ 4.25│ 8.55│ 9.25│ 9.40│ 6.05│ 8.35│ 8.95│ 6.53
August │ 5.35│ 2.75│ 2.60│ 3.80│ 8.90│10.85│ 9.85│ 6.35│ 9.15│ 9.20│ 6.88
September│ 5.30│ 2.80│ 2.90│ 4.20│ 9.50│11.70│ 9.30│ 6.15│ 8.70│ 9.25│ 6.98
October │ 5.30│ 2.80│ 2.90│ 4.10│ 8.65│12.20│ 8.65│ 5.85│ 7.50│ 9.30│ 6.73
November │ 5.30│ 2.65│ 3.45│ 4.50│ 9.75│11.15│ 6.95│ 5.75│ 7.00│ 9.10│ 6.56
December │ 4.60│ 2.45│ 3.80│ 5.05│10.05│ 9.05│ 5.85│ 6.60│ 8.35│ 9.80│ 6.56
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 5.06│ 3.54│ 2.83│ 4.16│ 7.91│10.23│ 8.69│ 6.24│ 8.04│ 9.44│ 6.61
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1870.│1871.│1872.│1873.│1874.│1875.│1876.│1877.│1878.│1879.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 9.05│ 6.60│ 4.35│ 3.85│ 5.20│ 6.60│ 7.15│ 6.45│ 4.05│ 2.90│ 5.62
February │ 9.00│ 7.30│ 4.45│ 4.20│ 5.35│ 6.95│ 7.95│ 6.15│ 3.90│ 3.70│ 5.90
March │ 8.55│ 6.75│ 4.45│ 4.95│ 5.30│ 7.50│ 8.55│ 5.50│ 3.70│ 3.95│ 5.92
April │ 8.80│ 5.60│ 4.25│ 5.40│ 5.50│ 8.25│ 8.05│ 5.55│ 3.55│ 3.70│ 5.87
May │ 8.75│ 4.55│ 4.05│ 4.90│ 5.50│ 7.90│ 7.15│ 5.30│ 3.30│ 3.50│ 5.49
June │ 8.60│ 3.80│ 3.90│ 4.45│ 5.55│ 7.00│ 6.05│ 4.85│ 3.50│ 3.75│ 5.15
July │ 9.00│ 4.40│ 4.05│ 4.55│ 6.05│ 7.05│ 7.00│ 4.95│ 4.10│ 3.60│ 5.48
August │ 9.50│ 4.40│ 4.65│ 4.60│ 6.90│ 7.75│ 6.15│ 5.05│ 4.25│ 3.40│ 5.67
September│ 9.30│ 4.45│ 4.90│ 4.50│ 7.25│ 8.00│ 6.00│ 5.30│ 3.95│ 3.45│ 5.71
October │ 7.90│ 4.30│ 4.60│ 4.30│ 6.00│ 7.95│ 5.90│ 5.35│ 3.45│ 3.60│ 5.34
November │ 6.85│ 4.00│ 4.25│ 3.85│ 6.50│ 7.30│ 5.75│ 4.70│ 2.95│ 3.85│ 5.00
December │ 6.15│ 4.15│ 3.75│ 4.70│ 6.85│ 6.95│ 5.95│ 4.25│ 2.70│ 4.55│ 5.00
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 8.46│ 5.03│ 4.31│ 4.53│ 6.00│ 7.44│ 6.81│ 5.29│ 3.62│ 3.67│ 5.51
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1880.│1881.│1882.│1883.│1884.│1885.│1886.│1887.│1888.│1889.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 4.60│ 5.15│ 6.60│ 6.35│ 5.85│ 4.60│ 3.85│ 4.45│ 5.40│ 5.00│ 5.19
February │ 4.45│ 5.90│ 6.80│ 6.90│ 6.70│ 4.60│ 4.05│ 5.20│ 5.35│ 4.70│ 5.47
March │ 4.45│ 5.90│ 6.80│ 7.25│ 6.50│ 4.55│ 4.15│ 5.30│ 5.45│ 4.75│ 5.51
April │ 4.50│ 5.95│ 7.10│ 7.50│ 5.95│ 4.55│ 4.00│ 5.00│ 5.50│ 4.75│ 5.48
May │ 4.30│ 6.05│ 7.70│ 7.30│ 5.55│ 4.05│ 4.00│ 4.60│ 5.55│ 4.50│ 5.36
June │ 4.30│ 5.90│ 7.90│ 6.50│ 5.20│ 4.00│ 4.15│ 4.55│ 5.55│ 4.35│ 5.24
July │ 4.55│ 6.40│ 8.20│ 5.65│ 5.25│ 4.55│ 4.60│ 5.30│ 6.10│ 4.40│ 5.50
August │ 4.95│ 6.50│ 8.45│ 5.50│ 5.70│ 4.55│ 4.45│ 4.75│ 6.20│ 4.15│ 5.52
September│ 5.25│ 6.75│ 8.40│ 5.20│ 5.20│ 4.10│ 4.35│ 5.00│ 6.20│ 4.20│ 5.47
October │ 4.85│ 6.60│ 7.65│ 4.70│ 4.70│ 3.80│ 4.10│ 4.50│ 6.05│ 4.25│ 5.12
November │ 4.75│ 6.20│ 6.75│ 4.75│ 4.45│ 3.50│ 3.75│ 4.85│ 5.95│ 3.85│ 4.88
December │ 4.75│ 6.15│ 6.20│ 5.20│ 4.20│ 3.65│ 4.25│ 5.20│ 5.20│ 3.60│ 4.84
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 4.64│ 6.13│ 7.38│ 6.07│ 5.44│ 4.21│ 4.14│ 4.89│ 5.71│ 4.38│ 5.30
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1890.│1891.│1892.│1893.│1894.│1895.│1896.│1897.│1898.│1899.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 3.70│ 3.55│ 4.25│ 7.45│ 5.30│ 4.25│ 3.95│ 3.35│ 3.65│ 3.75│ 4.32
February │ 3.95│ 3.50│ 4.60│ 7.95│ 5.10│ 4.15│ 4.10│ 3.35│ 4.00│ 3.80│ 4.45
March │ 4.10│ 4.20│ 4.55│ 7.55│ 4.75│ 4.60│ 3.90│ 3.85│ 3.90│ 3.80│ 4.52
April │ 4.25│ 4.80│ 4.50│ 7.05│ 5.00│ 4.90│ 3.55│ 4.05│ 3.90│ 3.85│ 4.59
May │ 4.05│ 4.65│ 4.55│ 7.40│ 4.90│ 4.55│ 3.30│ 3.75│ 4.35│ 3.90│ 4.54
June │ 3.75│ 4.50│ 5.00│ 6.65│ 4.75│ 4.65│ 3.15│ 3.40│ 4.10│ 3.80│ 4.38
July │ 3.75│ 5.10│ 5.65│ 5.60│ 5.30│ 5.10│ 3.05│ 3.50│ 3.95│ 4.25│ 4.53
August │ 3.80│ 5.10│ 5.40│ 5.05│ 5.35│ 4.65│ 3.05│ 3.90│ 3.90│ 4.55│ 4.48
September│ 4.35│ 4.90│ 5.15│ 6.00│ 5.85│ 4.10│ 2.90│ 4.00│ 3.85│ 4.40│ 4.55
October │ 4.05│ 4.50│ 5.35│ 6.40│ 5.15│ 3.85│ 3.25│ 3.75│ 3.70│ 4.30│ 4.43
November │ 3.80│ 3.85│ 5.50│ 5.70│ 4.35│ 3.55│ 3.25│ 3.40│ 3.45│ 3.90│ 4.08
December │ 3.40│ 3.65│ 6.15│ 5.65│ 4.35│ 3.50│ 3.25│ 3.35│ 3.40│ 4.05│ 4.08
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 3.92│ 4.36│ 5.06│ 6.54│ 5.02│ 4.33│ 3.39│ 3.64│ 3.85│ 4.03│ 4.41
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1900.│1901.│1902.│1903.│1904.│1905.│1906.│1907.│1908.│1909.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 4.55│ 5.25│ 6.40│ 6.60│ 4.95│ 4.70│ 5.40│ 6.60│ 4.45│ 6.20│ 5.51
February │ 4.90│ 5.40│ 6.30│ 7.00│ 5.25│ 4.90│ 6.00│ 7.05│ 4.50│ 6.45│ 5.78
March │ 5.00│ 5.90│ 6.50│ 7.45│ 5.50│ 5.20│ 6.30│ 6.65│ 5.05│ 6.80│ 6.04
April │ 5.55│ 5.85│ 7.10│ 7.30│ 5.15│ 5.45│ 6.50│ 6.60│ 5.85│ 7.30│ 6.27
May │ 5.30│ 5.80│ 7.00│ 6.60│ 4.75│ 5.40│ 6.45│ 6.35│ 5.50│ 7.40│ 6.06
June │ 5.20│ 6.00│ 7.50│ 6.05│ 5.05│ 5.30│ 6.55│ 6.05│ 5.80│ 7.80│ 6.13
July │ 5.25│ 5.90│ 7.80│ 5.45│ 5.35│ 5.60│ 6.60│ 5.90│ 6.55│ 7.90│ 6.23
August │ 5.20│ 5.95│ 7.25│ 5.30│ 5.25│ 5.90│ 6.15│ 5.90│ 6.60│ 7.60│ 6.11
September│ 5.25│ 6.65│ 7.55│ 5.75│ 5.70│ 5.40│ 6.15│ 5.80│ 6.90│ 8.10│ 6.33
October │ 4.80│ 6.10│ 7.00│ 5.40│ 5.35│ 5.10│ 6.40│ 6.05│ 6.05│ 7.85│ 6.01
November │ 4.80│ 5.70│ 6.35│ 4.60│ 4.80│ 4.80│ 6.20│ 4.90│ 5.90│ 8.10│ 5.62
December │ 4.75│ 6.20│ 6.35│ 4.50│ 4.50│ 4.90│ 6.25│ 4.65│ 5.75│ 8.45│ 5.63
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 5.05│ 5.89│ 6.93│ 6.00│ 5.14│ 5.23│ 6.25│ 6.04│ 5.74│ 7.50│ 5.97
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 8.70│ 7.85│ 6.30│ 7.40│ 8.35│ 6.80│ 7.30│11.00│16.40│17.60│ 9.77
February │ 9.20│ 7.25│ 6.25│ 8.05│ 8.55│ 6.70│ 8.30│12.50│16.70│17.65│ 10.12
March │10.65│ 6.70│ 7.10│ 8.75│ 8.60│ 6.65│ 9.60│14.90│17.00│19.00│ 10.91
April │10.00│ 6.15│ 7.85│ 8.80│ 8.50│ 7.05│ 9.70│15.80│17.40│20.30│ 11.16
May │ 9.50│ 5.85│ 7.70│ 8.40│ 8.30│ 7.40│ 9.85│16.00│17.45│20.60│ 11.11
June │ 9.35│ 6.15│ 7.50│ 8.50│ 8.15│ 7.35│ 9.75│15.65│16.50│20.30│ 10.92
July │ 8.60│ 6.65│ 7.60│ 8.95│ 8.60│ 6.95│ 9.75│15.20│17.70│21.65│ 11.17
August │ 8.25│ 7.15│ 8.05│ 8.10│ 8.75│ 6.70│10.20│17.00│18.90│19.75│ 11.29
September│ 8.70│ 6.75│ 8.30│ 8.10│ 8.60│ 7.20│10.55│18.30│19.55│17.25│ 11.33
October │ 8.45│ 6.50│ 8.65│ 8.15│ 7.55│ 7.75│ 9.85│17.25│17.55│14.25│ 10.60
November │ 7.75│ 6.35│ 7.75│ 7.80│ 7.50│ 6.85│ 9.85│17.60│17.70│14.10│ 10.31
December │ 7.65│ 6.25│ 7.45│ 7.70│ 7.10│ 6.60│10.00│16.95│17.55│13.50│ 10.08
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 8.89│ 6.64│ 7.54│ 8.23│ 8.22│ 7.00│ 9.56│15.68│17.53│18.00│ 10.73
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
CHICAGO CORN PRICES.
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1860.│1861.│1862.│1863.│1864.│1865.│1866.│1867.│1868.│1869.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .48│ .29│ .23│ .47│ .82│ .90│ .38│ .70│ .86│ .55│ .568
February │ .41│ .28│ .23│ .51│ .89│ .88│ .35│ .68│ .82│ .56│ .561
March │ .42│ .27│ .24│ .50│ .79│ .79│ .37│ .74│ .83│ .54│ .549
April │ .46│ .30│ .26│ .47│ .92│ .63│ .42│ .93│ .82│ .54│ .575
May │ .48│ .33│ .27│ .48│ 1.04│ .54│ .48│ .96│ .88│ .58│ .604
June │ .46│ .23│ .26│ .48│ 1.15│ .52│ .51│ .88│ .85│ .62│ .596
July │ .43│ .23│ .28│ .48│ 1.30│ .56│ .56│ .80│ .88│ .81│ .633
August │ .40│ .23│ .33│ .49│ 1.26│ .67│ .56│ .90│ .97│ .90│ .671
September│ .37│ .21│ .29│ .60│ 1.30│ .60│ .54│ 1.00│ .94│ .84│ .669
October │ .38│ .22│ .34│ .79│ 1.25│ .49│ .66│ 1.06│ .87│ .67│ .673
November │ .32│ .22│ .31│ .88│ 1.35│ .52│ .87│ .97│ .76│ .73│ .693
December │ .28│ .24│ .37│ .93│ .97│ .43│ .76│ .84│ .64│ .76│ .622
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .407│ .254│ .284│ .590│1.082│ .628│ .540│ .872│ .843│ .675│ .618
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1870.│1871.│1872.│1873.│1874.│1875.│1876.│1877.│1878.│1879.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .72│ .47│ .41│ .31│ .55│ .66│ .43│ .44│ .42│ .30│ .471
February │ .70│ .52│ .40│ .31│ .58│ .64│ .41│ .42│ .40│ .32│ .470
March │ .72│ .54│ .38│ .32│ .60│ .66│ .44│ .40│ .42│ .33│ .481
April │ .82│ .54│ .40│ .34│ .63│ .71│ .47│ .46│ .40│ .32│ .509
May │ .87│ .54│ .46│ .39│ .62│ .71│ .47│ .53│ .40│ .34│ .533
June │ .83│ .53│ .49│ .34│ .60│ .67│ .45│ .46│ .36│ .36│ .509
July │ .83│ .51│ .41│ .36│ .62│ .70│ .46│ .48│ .38│ .36│ .511
August │ .74│ .45│ .41│ .39│ .67│ .69│ .45│ .45│ .39│ .33│ .497
September│ .64│ .47│ .36│ .40│ .77│ .59│ .45│ .44│ .36│ .35│ .483
October │ .60│ .47│ .33│ .38│ .76│ .55│ .44│ .43│ .34│ .41│ .471
November │ .61│ .46│ .33│ .38│ .77│ .52│ .44│ .45│ .32│ .42│ .470
December │ .50│ .41│ .31│ .50│ .78│ .49│ .45│ . 44│ .31│ .41│ .460
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .715│ .492│ .381│ .368│ .662│ .632│ .446│ .450│ .375│ .354│ .487
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1880.│1881.│1882.│1883.│1884.│1885.│1886.│1887.│1888.│1889.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .39│ .37│ .62│ .60│ .54│ .37│ .37│ .36│ .49│ .34│ .445
February │ .37│ .37│ .58│ .57│ .54│ .37│ .37│ .35│ .47│ .35│ .434
March │ .35│ .40│ .64│ .56│ .52│ .39│ .37│ .37│ .49│ .34│ .443
April │ .34│ .42│ .74│ .53│ .50│ .45│ .37│ .38│ .52│ .34│ .459
May │ .37│ .43│ .73│ .55│ .55│ .47│ .36│ .38│ .57│ .34│ .475
June │ .36│ .45│ .72│ .54│ .54│ .47│ .35│ .37│ .51│ .34│ .465
July │ .36│ .48│ .78│ .50│ .53│ .47│ .40│ .36│ .48│ .36│ .472
August │ .38│ .57│ .77│ .52│ .53│ .45│ .42│ .40│ .45│ .35│ .484
September│ .40│ .67│ .67│ .50│ .69│ .43│ .39│ .42│ .43│ .33│ .493
October │ .40│ .68│ .65│ .48│ .50│ .42│ .35│ .42│ .43│ .32│ .465
November │ .42│ .61│ .68│ .52│ .40│ .43│ .35│ .44│ .39│ .46│ .470
December │ .39│ .61│ .55│ .59│ .37│ .39│ .37│ .49│ .35│ .32│ .443
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .378│ .505│ .678│ .539│ .518│ .426│ .373│ .395│ .465│ .349│ .463
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1890.│1891.│1892.│1893.│1894.│1895.│1896.│1897.│1898.│1899.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .29│ .49│ .38│ .42│ .35│ .43│ .27│ .23│ .27│ .37│ .350
February │ .28│ .52│ .40│ .42│ .35│ .41│. 28│ .23│ .29│ .35│ .353
March │ .29│ .62│ .39│ .41│ .36│ .44│ .29│ .24│ .29│ .35│ .368
April │ .31│ .71│ .41│ .41│ .38│ .47│ .30│ .24│ .32│ .35│ .390
May │ .34│ .62│ .70│ .42│ .38│ .52│ .29│ .24│ .35│ .33│ .419
June │ .34│ .58│ .51│ .40│ .40│ .50│ .27│ .24│ .32│ .34│ .390
July │ .40│ .62│ .50│ .39│ .44│ .45│ .26│ .26│ .34│ .33│ .399
August │ .48│ .63│ .52│ .38│ .53│ .40│ .23│ .30│ .32│ .32│ .411
September│ .48│ .58│ .46│ .40│ .53│ .34│ .21│ .30│ .30│ .33│ .393
October │ .51│ .55│ .42│ .39│ .51│ .30│ .24│ .27│ .31│ .32│ .382
November │ .51│ .64│ .42│ .37│ .50│ .28│ .24│ .27│ .33│ .32│ .388
December │ .50│ .49│ .41│ .35│ .46│ .26│ .23│ .26│ .36│ .31│ .363
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .394│ .588│ .460│ .397│ .433│ .400│ .259│ .257│ .317│ .335│ .384
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1900.│1901.│1902.│1903.│1904.│1905.│1906.│1907.│1908.│1909.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .31│ .37│ .61│ .46│ .45│ .43│ .42│ .42│ .59│ .60│ .466
February │ .33│ .39│ .59│ .44│ .50│ .44│ .41│ .44│ .58│ .63│ .475
March │ .36│ .42│ .59│ .44│ .53│ .47│ .42│ .44│ .62│ .66│ .495
April │ .40│ .45│ .61│ .44│ .51│ .48│ .46│ .48│ .67│ .70│ .520
May │ .38│ .51│ .62│ .45│ .49│ .56│ .49│ .53│ .75│ .74│ .552
June │ .40│ .43│ .66│ .50│ .49│ .54│ .52│ .53│ .71│ .74│ .552
July │ .42│ .51│ .72│ .51│ .49│ .56│ .49│ .54│ .74│ .71│ .569
August │ .39│ .57│ .57│ .52│ .54│ .55│ .51│ .58│ .79│ .68│ .570
September│ .41│ .57│ .60│ .49│ .53│ .53│ .50│ .62│ .80│ .66│ .571
October │ .39│ .56│ .58│ .45│ .54│ .52│ .49│ .61│ .73│ .61│ .548
November │ .42│ .61│ .55│ .43│ .54│ .49│ .46│ .58│ .64│ .63│ .535
December │ .38│ .65│ .51│ .42│ .46│ .46│ .46│ .60│ .60│ .64│ .518
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .383│ .504│ .601│ .463│ .506│ .503│ .469│ .531│ .685│ .667│ .531
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .65│ .47│ .67│ .49│ .63│ .73│ .76│ .99│ 1.81│ 1.40│ .860
February │ .65│ .47│ .65│ .50│ .62│ .73│ .76│ 1.01│ 1.75│ 1.31│ .845
March │ .63│ .47│ .70│ .52│ .67│ .73│ .74│ 1.12│ 1.72│ 1.51│ .881
April │ .59│ .50│ .78│ .56│ .67│ .76│ .77│ 1.45│ 1.66│ 1.63│ .937
May │ .60│ .54│ .79│ .58│ .70│ .77│ .74│ 1.64│ 1.62│ 1.77│ .975
June │ .59│ .56│ .74│ .61│ .71│ .74│ .74│ 1.71│ 1.59│ 1.92│ .991
July │ .63│ .63│ .72│ .64│ .72│ .79│ .81│ 2.00│ 1.65│ 2.19│ 1.078
August │ .63│ .64│ .78│ .73│ .80│ .79│ .85│ 1.97│ 1.71│ 1.95│ 1.085
September│ .55│ .67│ .74│ .75│ .78│ .72│ .87│ 2.10│ 1.59│ 1.53│ 1.030
October │ .50│ .72│ .64│ .70│ .74│ .63│ 1.00│ 1.99│ 1.38│ 1.39│ .969
November │ .50│ .73│ .54│ .73│ .70│ .65│ 1.02│ 2.10│ 1.37│ 1.47│ .981
December │ .48│ .70│ .51│ .70│ .65│ .72│ .92│ 1.73│ 1.45│ 1.47│ .933
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .584│ .592│ .689│ .626│ .699│ .730│ .832│1.650│1.608│1.628│ .964
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
CHICAGO CORN-HOG RATIOS BY DECADES.
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1860–│1870–│1880–│1890–│1900–│1910–│ │ │ │ │
│1869.│1879.│1889.│1899.│1909.│1919.│ │ │ │ │
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 11.5│ 11.9│ 11.7│ 12.3│ 11.8│ 11.4│ │ │ │ │
February │ 12.2│ 12.6│ 12.6│ 12.6│ 12.2│ 12.0│ │ │ │ │
March │ 12.6│ 12.3│ 12.4│ 12.3│ 12.2│ 12.4│ │ │ │ │
April │ 11.6│ 11.5│ 11.9│ 11.8│ 12.1│ 11.9│ │ │ │ │
May │ 10.1│ 10.3│ 11.3│ 10.8│ 11.0│ 11.4│ │ │ │ │
June │ 10.2│ 10.1│ 11.3│ 11.2│ 11.1│ 11.0│ │ │ │ │
July │ 10.3│ 10.7│ 11.7│ 11.4│ 11.0│ 10.4│ │ │ │ │
August │ 10.3│ 11.4│ 11.4│ 10.9│ 10.7│ 10.3│ │ │ │ │
September│ 10.4│ 11.8│ 11.1│ 11.6│ 11.1│ 11.1│ │ │ │ │
October │ 10.0│ 11.3│ 11.0│ 11.6│ 11.0│ 11.0│ │ │ │ │
November │ 9.5│ 10.6│ 10.2│ 10.5│ 10.5│ 10.6│ │ │ │ │
December │ 10.5│ 10.9│ 10.9│ 11.2│ 10.9│ 10.5│ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
CHICAGO OATS PRICES.
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1860.│1861.│1862.│1863.│1864.│1865.│1866.│1867.│1868.│1869.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .37│ .17│ .16│ .46│ .65│ .64│ .24│ .43│ .59│ .50│ .421
February │ .33│ .17│ .17│ .57│ .65│ .61│ .23│ .42│ .57│ .55│ .427
March │ .32│ .15│ .18│ .56│ .64│ .53│ .25│ .47│ .58│ .56│ .424
April │ .31│ .17│ .19│ .59│ .67│ .42│ .28│ .58│ .60│ .56│ .437
May │ .30│ .18│ .25│ .56│ .68│ .39│ .32│ .70│ .69│ .62│ .469
June │ .28│ .14│ .26│ .58│ .73│ .48│ .32│ .65│ .67│ .62│ .473
July │ .27│ .15│ .27│ .56│ .78│ .44│ .30│ .62│ .67│ .68│ .474
August │ .20│ .16│ .32│ .38│ .69│ .42│ .28│ .53│ .56│ .52│ .406
September│ .20│ .14│ .31│ .47│ .65│ .33│ .33│ .50│ .54│ .47│ .394
October │ .18│ .16│ .35│ .60│ .62│ .29│ .39│ .55│ .51│ .42│ .407
November │ .17│ .16│ .34│ .65│ .64│ .28│ .41│ .55│ .49│ .43│ .412
December │ .17│ .18│ .39│ .66│ .66│ .26│ .42│ .55│ .49│ .44│ .422
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .259│ .161│ .266│ .554│ .672│ .424│ .314│ .546│ .580│ .531│ .431
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1870.│1871.│1872.│1873.│1874.│1875.│1876.│1877.│1878.│1879.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .42│ .43│ .34│ .27│ .42│ .55│ .31│ .35│ .24│ .20│ .353
February │ .41│ .49│ .34│ .28│ .44│ .55│ .31│ .35│ .24│ .21│ .362
March │ .39│ .52│ .33│ .28│ .45│ .56│ .33│ .33│ .24│ .23│ .366
April │ .45│ .51│ .33│ .29│ .47│ .60│ .32│ .37│ .24│ .22│ .380
May │ .51│ .50│ .39│ .34│ .49│ .65│ .30│ .42│ .26│ .27│ .413
June │ .52│ .51│ .41│ .31│ .48│ .60│ .30│ .46│ .24│ .32│ .415
July │ .51│ .50│ .29│ .31│ .49│ .53│ .29│ .31│ .25│ .31│ .379
August │ .42│ .32│ .30│ .29│ .44│ .48│ .31│ .25│ .23│ .24│ .328
September│ .38│ .32│ .27│ .31│ .46│ .38│ .33│ .24│ .20│ .24│ .313
October │ .38│ .33│ .24│ .32│ .50│ .36│ .33│ .23│ .19│ .29│ .317
November │ .41│ .33│ .23│ .32│ .50│ .33│ .32│ .25│ .20│ .32│ .341
December │ .41│ .34│ .26│ .39│ .55│ .32│ .34│ .25│ .20│ .35│ .341
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .434│ .425│ .311│ .309│ .474│ .493│ .316│ .318│ .228│ .267│ .357
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1880.│1881.│1882.│1883.│1884.│1885.│1886.│1887.│1888.│1889.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .38│ .31│ .44│ .37│ .33│ .27│ .32│ .26│ .30│ .25│ .323
February │ .32│ .31│ .42│ .39│ .33│ .28│ .29│ .25│ .29│ .26│ .314
March │ .30│ .32│ .44│ .42│ .31│ .29│ .30│ .24│ .29│ .25│ .316
April │ .28│ .35│ .49│ .41│ .30│ .32│ .27│ .25│ .30│ .23│ .320
May │ .38│ .38│ .52│ .41│ .32│ .34│ .28│ .25│ .35│ .23│ .339
June │ .29│ .38│ .52│ .35│ .32│ .33│ .27│ .26│ .32│ .22│ .326
July │ .25│ .41│ .57│ .32│ .30│ .27│ .30│ .26│ .31│ .22│ .321
August │ .25│ .36│ .48│ .27│ .27│ .24│ .26│ .25│ .28│ .20│ .286
September│ .29│ .42│ .34│ .27│ .25│ .26│ .25│ .25│ .24│ .19│ .276
October │ .31│ .45│ .34│ .28│ .27│ .25│ .24│ .26│ .24│ .19│ .283
November │ .31│ .44│ .36│ .30│ .26│ .29│ .26│ .28│ .26│ .20│ .296
December │ .31│ .45│ .38│ .33│ .24│ .28│ .25│ .30│ .26│ .21│ .301
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .300│ .382│ .442│ .344│ .292│ .285│ .274│ .259│ .287│ .221│ .308
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1890.│1891.│1892.│1893.│1894.│1895.│1896.│1897.│1898.│1899.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .21│ .44│ .29│ .31│ .28│ .29│ .18│ .16│ .23│ .27│ .266
February │ .20│ .46│ .30│ .31│ .28│ .28│ .20│ .16│ .26│ .28│ .273
March │ .21│ .51│ .29│ .30│ .30│ .29│ .19│ .17│ .26│ .26│ .278
April │ .24│ .53│ .29│ .28│ .31│ .29│ .19│ .17│ .28│ .26│ .284
May │ .27│ .50│ .31│ .31│ .35│ .30│ .19│ .18│ .28│ .26│ .295
June │ .28│ .40│ .32│ .29│ .42│ .28│ .17│ .18│ .24│ .25│ .283
July │ .31│ .33│ .32│ .26│ .38│ .24│ .17│ .18│ .23│ .22│ .264
August │ .37│ .30│ .33│ .24│ .31│ .21│ .17│ .18│ .21│ .21│ .253
September│ .37│ .28│ .33│ .26│ .29│ .19│ .16│ .20│ .21│ .22│ .251
October │ .41│ .28│ .30│ .27│ .29│ .18│ .18│ .19│ .23│ .23│ .256
November │ .43│ .32│ .31│ .28│ .29│ .19│ .19│ .21│ .26│ .23│ .271
December │ .42│ .32│ .31│ .28│ .30│ .17│ .18│ .22│ .27│ .25│ .272
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .310│ .389│ .309│ .283│ .317│ .243│ .181│ .184│ .247│ .245│ .271
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1900.│1901.│1902.│1903.│1904.│1905.│1906.│1907.│1908.│1909.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .23│ .24│ .42│ .33│ .39│ .30│ .31│ .35│ .50│ .50│ .357
February │ .23│ .25│ .43│ .35│ .43│ .31│ .30│ .39│ .51│ .53│ .373
March │ .24│ .26│ .43│ .33│ .40│ .31│ .30│ .41│ .53│ .54│ .375
April │ .24│ .27│ .43│ .34│ .39│ .31│ .32│ .44│ .53│ .55│ .382
May │ .23│ .29│ .45│ .36│ .42│ .30│ .33│ .47│ .55│ .59│ .399
June │ .24│ .28│ .44│ .39│ .41│ .32│ .38│ .45│ .52│ .56│ .399
July │ .23│ .33│ .43│ .39│ .42│ .31│ .35│ .44│ .56│ .49│ .395
August │ .22│ .36│ .28│ .35│ .36│ .27│ .31│ .49│ .48│ .40│ .352
September│ .22│ .35│ .27│ .37│ .32│ .28│ .32│ .54│ .49│ .43│ .359
October │ .22│ .36│ .29│ .37│ .30│ .29│ .34│ .50│ .48│ .40│ .355
November │ .22│ .41│ .29│ .36│ .31│ .30│ .34│ .47│ .49│ .39│ .358
December │ .22│ .45│ .31│ .36│ .30│ .31│ .34│ .49│ .49│ .43│ .370
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .229│ .321│ .373│ .359│ .371│ .301│ .329│ .454│ .511│ .484│ .373
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .47│ .32│ .49│ .33│ .38│ .54│ .47│ .56│ .82│ .65│ .503
February │ .48│ .31│ .52│ .34│ .39│ .57│ .46│ .54│ .87│ .60│ .508
March │ .45│ .30│ .53│ .33│ .39│ .57│ .45│ .59│ .91│ .64│ .516
April │ .43│ .31│ .57│ .35│ .38│ .56│ .44│ .67│ .86│ .71│ .528
May │ .40│ .34│ .54│ .39│ .40│ .53│ .44│ .67│ .76│ .71│ .518
June │ .38│ .40│ .52│ .41│ .39│ .48│ .39│ .66│ .76│ .71│ .510
July │ .42│ .43│ .50│ .40│ .37│ .54│ .40│ .77│ .75│ .76│ .534
August │ .36│ .41│ .33│ .41│ .41│ .53│ .44│ .66│ .70│ .76│ .501
September│ .33│ .44│ .33│ .42│ .48│ .37│ .46│ .59│ .72│ .70│ .484
October │ .31│ .46│ .32│ .39│ .47│ .38│ .50│ .59│ .69│ .73│ .484
November │ .31│ .46│ .31│ .38│ .49│ .39│ .54│ .66│ .73│ .76│ .503
December │ .31│ .47│ .32│ .39│ .48│ .42│ .50│ .76│ .71│ .84│ .520
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .381│ .388│ .440│ .379│ .419│ .490│ .458│ .644│ .774│ .714│ .509
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
CHICAGO WHEAT PRICES.
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1860.│1861.│1862.│1863.│1864.│1865.│1866.│1867.│1868.│1869.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .98│ .76│ .66│ .96│ 1.11│ 1.40│ .87│ 1.95│ 1.63│ 1.14│ 1.146
February │ .97│ .75│ .72│ 1.08│ 1.11│ 1.25│ .84│ 1.90│ 2.01│ 1.16│ 1.179
March │ 1.01│ .77│ .73│ 1.08│ 1.10│ 1.16│ .91│ 2.04│ 1.95│ 1.13│ 1.188
April │ 1.04│ .86│ .72│ 1.03│ 1.19│ 1.03│ .96│ 1.93│ 1.96│ 1.07│ 1.179
May │ 1.06│ .94│ .71│ .95│ 1.22│ 1.05│ 1.77│ 2.14│ 2.02│ 1.13│ 1.299
June │ 1.04│ .63│ .72│ .94│ 1.56│ 1.06│ 1.19│ 1.96│ 1.92│ 1.16│ 1.218
July │ 1.00│ .62│ .79│ .92│ 2.02│ 1.03│ 1.00│ 1.49│ 1.47│ 1.31│ 1.165
August │ .83│ .67│ .87│ .86│ 1.91│ 1.17│ 1.41│ 1.75│ 1.72│ 1.38│ 1.257
September│ .85│ .69│ .81│ .94│ 1.87│ 1.24│ 1.78│ 1.79│ 1.54│ 1.23│ 1.274
October │ .83│ .71│ .87│ 1.05│ 1.58│ 1.22│ 1.89│ 1.90│ 1.29│ 1.02│ 1.236
November │ .77│ .66│ .77│ 1.04│ 1.76│ 1.13│ 1.89│ 1.76│ 1.12│ .89│ 1.179
December │ .74│ .64│ .83│ 1.08│ 1.52│ .92│ 1.85│ 1.46│ 1.14│ .86│ 1.104
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .927│ .725│ .767│ .994│1.495│1.138│1.361│1.839│1.647│1.123│ 1.202
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1870.│1871.│1872.│1873.│1874.│1875.│1876.│1877.│1878.│1879.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .79│ 1.14│ 1.23│ 1.23│ 1.22│ .89│ .99│ 1.28│ 1.06│ .83│ 1.066
February │ .81│ 1.24│ 1.24│ 1.23│ 1.19│ .85│ 1.02│ 1.29│ 1.05│ .89│ 1.081
March │ .58│ 1.24│ 1.21│ 1.20│ 1.19│ .91│ 1.01│ 1.25│ 1.08│ .92│ 1.059
April │ .80│ 1.29│ 1.25│ 1.19│ 1.24│ 1.00│ 1.02│ 1.43│ 1.10│ .89│ 1.121
May │ .95│ 1.27│ 1.48│ 1.29│ 1.23│ 1.01│ 1.03│ 1.62│ 1.10│ .97│ 1.195
June │ 1.10│ 1.26│ 1.45│ 1.22│ 1.20│ .96│ 1.05│ 1.48│ .97│ 1.04│ 1.173
July │ 1.12│ 1.20│ 1.25│ 1.18│ 1.14│ 1.12│ .96│ 1.42│ .95│ .99│ 1.133
August │ 1.09│ 1.04│ 1.37│ 1.22│ 1.02│ 1.21│ .89│ 1.14│ .99│ .86│ 1.083
September│ .99│ 1.11│ 1.21│ 1.10│ .97│ 1.13│ 1.02│ 1.13│ .87│ .94│ 1.047
October │ 1.06│ 1.22│ 1.13│ 1.04│ .89│ 1.11│ 1.10│ 1.10│ .81│ 1.12│ 1.058
November │ .81│ 1.23│ 1.07│ 1.01│ .88│ 1.08│ 1.11│ 1.08│ .82│ 1.16│ 1.025
December │ 1.06│ 1.19│ 1.14│ 1.12│ .90│ .98│ 1.19│ 1.09│ .83│ 1.29│ 1.079
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .930│1.202│1.252│1.169│1.089│1.020│1.032│1.275│ .969│ .992│ 1.093
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1880.│1881.│1882.│1883.│1884.│1885.│1886.│1887.│1888.│1889.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 1.25│ .98│ 1.30│ .99│ .92│ .79│ .81│ .79│ .77│ .96│ .956
February │ 1.23│ .98│ 1.27│ 1.08│ .93│ .77│ .81│ .75│ .77│ 1.01│ .960
March │ 1.21│ 1.01│ 1.30│ 1.07│ .88│ .77│ .79│ .77│ .76│ 1.00│ .956
April │ 1.11│ 1.02│ 1.35│ 1.07│ .85│ .85│ .76│ .80│ .77│ .91│ .949
May │ 1.15│ 1.04│ 1.27│ 1.11│ .90│ .88│ .76│ .85│ .86│ .86│ .968
June │ .97│ 1.10│ 1.30│ 1.06│ .87│ .87│ .74│ .81│ .82│ .83│ .937
July │ .92│ 1.14│ 1.30│ 1.01│ .82│ .88│ .77│ .70│ .82│ .81│ .917
August │ .89│ 1.29│ 1.09│ 1.02│ .80│ .84│ .76│ .68│ .88│ .78│ .903
September│ .91│ 1.28│ 1.01│ .96│ .76│ .82│ .74│ .69│ 1.45│ .79│ .941
October │ .98│ 1.36│ .95│ .93│ .76│ .88│ .72│ .71│ 1.11│ .80│ .920
November │ 1.06│ 1.28│ .93│ .96│ .73│ .87│ .75│ .74│ 1.09│ .80│ .921
December │ 1.01│ 1.27│ .93│ .97│ .73│ .86│ .77│ .77│ 1.01│ .79│ .911
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │1.057│1.145│1.175│1.019│ .829│ .840│ .765│ .755│ .926│ .862│ .936
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1890.│1891.│1892.│1893.│1894.│1895.│1896.│1897.│1898.│1899.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .76│ .91│ .87│ .75│ .61│ .55│ .62│ .83│ 1.00│ .71│ .761
February │ .76│ .95│ .88│ .74│ .58│ .54│ .67│ .80│ 1.02│ .72│ .766
March │ .79│ 1.01│ .84│ .76│ .58│ .57│ .65│ .80│ 1.03│ .70│ .773
April │ .85│ 1.09│ .81│ .79│ 61│ .62│ .66│ .81│ 1.12│ .73│ .809
May │ .95│ 1.03│ .83│ .72│ .57│ .73│ .62│ .83│ 1.51│ .74│ .853
June │ .89│ .96│ .83│ .65│ .59│ .77│ .60│ .75│ .98│ .74│ .776
July │ .90│ .92│ .78│ .60│ .55│ .68│ .58│ .74│ .77│ .72│ .724
August │ .99│ 1.00│ .77│ .60│ .55│ .65│ .58│ .91│ .70│ .72│ .747
September│ 1.00│ .95│ .73│ .66│ .53│ .60│ .63│ .93│ .65│ .72│ .740
October │ 1.00│ .96│ .72│ .63│ .54│ .61│ .73│ .94│ .66│ .72│ .751
November │ .95│ .94│ .71│ .61│ .57│ .59│ .83│ .96│ .67│ .68│ .751
December │ .90│ .91│ .71│ .62│ .58│ .59│ .84│ 1.01│ .66│ .67│ .749
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .895│ .969│ .790│ .678│ .572│ .625│ .668│ .859│ .898│ .714│ .767
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1900.│1901.│1902.│1903.│1904.│1905.│1906.│1907.│1908.│1909.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ .65│ .74│ .77│ .70│ .87│ 1.18│ .86│ .73│ .97│ 1.06│ .853
February │ .66│ .73│ .75│ .77│ .98│ 1.19│ .83│ .80│ .95│ 1.16│ .882
March │ .66│ .75│ .78│ .73│ .96│ 1.15│ .80│ .80│ .96│ 1.22│ .881
April │ .66│ .72│ .73│ .75│ .94│ 1.03│ .85│ .81│ .94│ 1.32│ .875
May │ .66│ .73│ .74│ .78│ .97│ 1.00│ .88│ .93│ 1.05│ 1.40│ .914
June │ .77│ .71│ .74│ .80│ .99│ 1.07│ .85│ .96│ .95│ 1.45│ .929
July │ .78│ .67│ .75│ .80│ 1.03│ 1.03│ .79│ .98│ .88│ 1.23│ .894
August │ .74│ .72│ .72│ .84│ 1.07│ .96│ .74│ .93│ .93│ 1.18│ .883
September│ .76│ .70│ .83│ .84│ 1.14│ .87│ .74│ 1.02│ 1.01│ 1.08│ .899
October │ .74│ .69│ .72│ .82│ 1.16│ .88│ .72│ 1.07│ 1.03│ 1.12│ .895
November │ .72│ .72│ .74│ .81│ 1.15│ .88│ .73│ .93│ 1.05│ 1.12│ .885
December │ .72│ .76│ .75│ .82│ 1.17│ .86│ .74│ 1.02│ 1.03│ 1.17│ .904
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .710│ .720│ .752│ .789│1.035│1.008│ .793│ .915│ .979│1.209│ .891
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
January │ 1.19│ 1.02│ 1.04│ 1.02│ .93│ 1.41│ 1.29│ 1.85│ 2.18│ 2.35│ 1.428
February │ 1.19│ .97│ 1.05│ 1.01│ .94│ 1.57│ 1.24│ 1.76│ 2.19│ 2.30│ 1.422
March │ 1.19│ .93│ 1.07│ .98│ .94│ 1.51│ 1.14│ 1.93│ 2.19│ 2.36│ 1.424
April │ 1.14│ .94│ 1.11│ 1.00│ .94│ 1.58│ 1.21│ 2.00│ 2.19│ 2.63│ 1.474
May │ 1.09│ .97│ 1.17│ 1.00│ .96│ 1.50│ 1.15│ 3.02│ 2.19│ 2.73│ 1.580
June │ 1.06│ .95│ 1.13│ 1.00│ .89│ 1.30│ 1.08│ 2.67│ 2.19│ 2.39│ 1.466
July │ 1.14│ .92│ 1.07│ .90│ .89│ 1.31│ 1.18│ 2.55│ 2.28│ 2.26│ 1.450
August │ 1.12│ 1.01│ 1.01│ .89│ 1.01│ 1.15│ 1.43│ 2.56│ 2.29│ 2.25│ 1.472
September│ 1.07│ 1.01│ .99│ .92│ 1.16│ 1.08│ 1.56│ 2.24│ 2.26│ 2.54│ 1.483
October │ 1.03│ 1.06│ 1.01│ .89│ 1.10│ 1.10│ 1.80│ 2.19│ 2.26│ 2.55│ 1.499
November │ .99│ 1.01│ .96│ .91│ 1.15│ 1.09│ 1.83│ 2.19│ 2.26│ 2.73│ 1.512
December │ 1.00│ 1.01│ .98│ .92│ 1.22│ 1.17│ 1.66│ 2.19│ 2.32│ 2.92│ 1.539
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │1.100│ .984│1.059│ .954│1.010│1.314│1.381│2.262│2.240│2.500│ 1.480
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
PRICES DURING 1862–1878.
Prices during the 1862–1878 period are generally given in currency, and
the currency of that period, unfortunately, had a fluctuating gold
value, just as the British pound has today. In order that our readers
may be able to convert the currency prices of 1862–1878 into terms of
gold, we are publishing the following table:
AMOUNT OF GREENBACK CURRENCY NECESSARY TO BUY ONE DOLLAR IN GOLD IN
UNITED STATES, FROM 1862–1878, INCLUSIVE.
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1862.│1863.│1864.│1865.│1866.│1867.│1868.│1869.│1870.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
January │$1.02│$1.48│$1.56│$2.16│$1.37│$1.35│$1.38│$1.36│$1.21
February │ 1.03│ 1.63│ 1.59│ 2.02│ 1.39│ 1.38│ 1.42│ 1.34│ 1.18
March │ 1.02│ 1.56│ 1.64│ 1.75│ 1.31│ 1.37│ 1.40│ 1.32│ 1.13
April │ 1.02│ 1.52│ 1.76│ 1.49│ 1.27│ 1.38│ 1.39│ 1.33│ 1.14
May │ 1.02│ 1.50│ 1.79│ 1.37│ 1.34│ 1.37│ 1.40│ 1.40│ 1.15
June │ 1.07│ 1.45│ 2.22│ 1.42│ 1.53│ 1.38│ 1.40│ 1.38│ 1.13
July │ 1.14│ 1.34│ 2.54│ 1.43│ 1.52│ 1.40│ 1.43│ 1.36│ 1.17
August │ 1.15│ 1.26│ 2.47│ 1.42│ 1.50│ 1.41│ 1.47│ 1.34│ 1.18
September│ 1.20│ 1.35│ 2.23│ 1.45│ 1.45│ 1.43│ 1.43│ 1.43│ 1.15
October │ 1.28│ 1.49│ 2.09│ 1.47│ 1.50│ 1.43│ 1.38│ 1.30│ 1.13
November │ 1.31│ 1.49│ 2.35│ 1.48│ 1.45│ 1.41│ 1.35│ 1.28│ 1.12
December │ 1.32│ 1.51│ 2.28│ 1.47│ 1.37│ 1.36│ 1.36│ 1.22│ 1.11
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1871.│1872.│1873.│1874.│1875.│1876.│1877.│1878.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
January │ 1.11│ 1.10│ 1.13│ 1.11│ 1.13│ 1.13│ 1.06│ 1.02
February │ 1.12│ 1.11│ 1.14│ 1.12│ 1.14│ 1.14│ 1.06│ 1.02
March │ 1.11│ 1.11│ 1.17│ 1.13│ 1.16│ 1.15│ 1.05│ 1.02
April │ 1.11│ 1.12│ 1.18│ 1.13│ 1.15│ 1.13│ 1.07│ 1.01
May │ 1.12│ 1.13│ 1.18│ 1.13│ 1.16│ 1.13│ 1.07│ 1.01
June │ 1.13│ 1.14│ 1.17│ 1.12│ 1.17│ 1.13│ 1.07│ 1.01
July │ 1.13│ 1.14│ 1.16│ 1.10│ 1.14│ 1.12│ 1.06│ 1.01
August │ 1.12│ 1.14│ 1.15│ 1.10│ 1.14│ 1.11│ 1.05│ 1.00
September│ 1.14│ 1.14│ 1.14│ 1.10│ 1.15│ 1.10│ 1.04│ 1.00
October │ 1.14│ 1.14│ 1.10│ 1.10│ 1.16│ 1.11│ 1.03│ 1.00
November │ 1.11│ 1.13│ 1.09│ 1.11│ 1.15│ 1.09│ 1.03│ 1.00
December │ 1.10│ 1.13│ 1.11│ 1.12│ 1.14│ 1.08│ 1.03│ 1.00
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
CHICAGO TEN-YEAR AVERAGE DAILY PRICES, 1904–1913.
Compiling the tables on pages 126–133 involved considerable work, but it
is believed that for studying seasonal trends and normal relationships
at different times of the year, these figures are very valuable. As a
matter of interest, a few future contract prices are averaged. It will
be noted that the future prices differ considerably from the cash prices
until the date of the delivery month draws near, when the future and the
cash prices become almost identical. Before the war, the future contract
system worked very well, but during the war it was rather
unsatisfactory. There is an interesting field of study in the seasonal
trend of northern wheat (spring) as compared with red wheat (winter).
JANUARY.
════╤══════╤══════╤═════╤═══════╤═════╤═════╤═════╤════╤══════╤══════╤══════╤════════
Day.│ Cash │ Dec. │ Hog │Packing│Cash │Sept.│Cash │July│ Cash │Sept. │Wheat,│ Wheat,
│ Corn │ Corn │ Top │ Sows │Lard │Lard │Ribs │Ribs│ Oats │ Oats │No. 2 │ No. 1
│(cts.)│(cts.)│ │ │ │ │ │ │(cts.)│(cts.)│ Red │N’th’rn.
│ │ │ │ │ │ │ │ │ │ │(cts.)│ (cts.)
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
3│ 51.2│ │$6.32│ $5.81│$8.94│ │$8.26│ │ 38.7│ │ 99.0│ 99.0
4│ 51.2│ │ 6.34│ 5.85│ 8.97│ │ 8.31│ │ 38.9│ │ 99.4│ 99.2
5│ 51.3│ │ 6.37│ 5.84│ 8.97│ │ 8.32│ │ 38.9│ │ 100.0│ 99.1
6│ 51.4│ │ 6.37│ 5.85│ 9.01│ │ 8.35│ │ 39.0│ │ 100.2│ 99.9
7│ 51.6│ │ 6.42│ 5.90│ 8.99│ │ 8.35│ │ 39.1│ │ 100.2│ 99.3
8│ 51.6│ │ 6.41│ 5.90│ 8.96│ │ 8.33│ │ 39.0│ │ 100.1│ 99.2
9│ 51.5│ │ 6.40│ 5.90│ 8.94│ │ 8.34│ │ 39.1│ │ 100.2│ 99.4
10│ 51.9│ │ 6.34│ 5.87│ 8.93│ │ 8.33│ │ 39.0│ │ 100.4│ 99.2
11│ 52.0│ │ 6.28│ 5.81│ 8.94│ │ 8.35│ │ 39.4│ │ 100.2│ 99.3
12│ 52.2│ │ 6.31│ 5.81│ 8.95│ │ 8.38│ │ 39.3│ │ 100.2│ 99.4
13│ 52.3│ │ 6.34│ 5.84│ 8.97│ │ 8.38│ │ 39.4│ │ 100.0│ 99.2
14│ 52.3│ │ 6.37│ 5.85│ 9.00│ │ 8.40│ │ 39.5│ │ 100.3│ 99.5
15│ 52.2│ │ 6.40│ 5.87│ 8.97│ │ 8.43│ │ 39.5│ │ 99.9│ 99.3
16│ 52.2│ │ 6.39│ 5.88│ 8.97│ │ 8.42│ │ 39.7│ │ 100.0│ 99.3
17│ 52.4│ │ 6.39│ 5.88│ 9.00│ │ 8.44│ │ 39.8│ │ 100.1│ 99.3
18│ 52.1│ │ 6.40│ 5.89│ 8.96│ │ 8.45│ │ 39.7│ │ 100.3│ 99.3
19│ 52.3│ │ 6.41│ 5.89│ 8.96│ │ 8.45│ │ 39.7│ │ 100.1│ 99.1
20│ 51.9│ │ 6.38│ 5.87│ 8.97│ │ 8.46│ │ 39.8│ │ 100.1│ 99.3
21│ 52.0│ │ 6.39│ 5.88│ 8.97│ │ 8.46│ │ 40.0│ │ 100.3│ 99.5
22│ 52.0│ │ 6.38│ 5.88│ 8.92│ │ 8.43│ │ 40.0│ │ 100.1│ 99.1
23│ 51.9│ │ 6.36│ 5.87│ 8.91│ │ 8.43│ │ 39.8│ │ 100.1│ 99.6
24│ 51.9│ │ 6.38│ 5.90│ 8.94│ │ 8.46│ │ 39.9│ │ 100.1│ 99.6
25│ 51.9│ │ 6.41│ 5.92│ 8.93│ │ 8.48│ │ 39.9│ │ 100.0│ 99.3
26│ 51.9│ │ 6.40│ 5.91│ 8.95│ │ 8.48│ │ 39.9│ │ 99.9│ 99.2
27│ 51.8│ │ 6.42│ 5.92│ 8.96│ │ 8.50│ │ 39.9│ │ 100.0│ 99.2
28│ 51.9│ │ 6.41│ 5.91│ 8.95│ │ 8.47│ │ 39.7│ │ 100.2│ 99.5
29│ 51.9│ │ 6.41│ 5.90│ 8.95│ │ 8.48│ │ 40.0│ │ 190.4│ 99.7
30│ 51.9│ │ 6.44│ 5.91│ 8.97│ │ 8.50│ │ 40.1│ │ 100.4│ 99.7
31│ 51.8│ │ 6.48│ 5.94│ 8.90│ │ 8.50│ │ 40.0│ │ 100.1│ 99.5
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 51.9│ │ 6.38│ 5.88│ 8.96│ │ 8.40│ │ 39.5│ │ 100.1│ 99.3
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
FEBRUARY.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 51.6│ │ 6.49│ 5.95│ 8.89│ │ 8.49│ │ 39.9│ │ 100.0│ 100.2
2│ 52.0│ │ 6.48│ 5.95│ 8.95│ │ 8.54│ │ 40.1│ │ 100.2│ 100.4
3│ 52.4│ │ 6.47│ 5.97│ 8.96│ │ 8.54│ │ 40.2│ │ 100.3│ 100.4
4│ 52.8│ │ 6.49│ 5.99│ 8.97│ │ 8.54│ │ 40.4│ │ 100.6│ 100.6
5│ 52.9│ │ 6.52│ 6.00│ 8.95│ │ 8.53│ │ 40.4│ │ 100.6│ 100.9
6│ 52.7│ │ 6.53│ 6.03│ 8.96│ │ 8.52│ │ 40.6│ │ 100.7│ 101.0
7│ 52.6│ │ 6.53│ 6.02│ 8.95│ │ 8.52│ │ 40.7│ │ 101.0│ 101.1
8│ 52.5│ │ 6.56│ 6.08│ 8.92│ │ 8.51│ │ 40.7│ │ 100.9│ 101.0
9│ 52.6│ │ 6.56│ 6.07│ 9.02│ │ 8.56│ │ 40.8│ │ 101.0│ 101.2
10│ 52.5│ │ 6.60│ 6.12│ 8.98│ │ 8.54│ │ 40.9│ │ 101.0│ 101.3
11│ 52.4│ │ 6.63│ 6.16│ 8.98│ │ 8.55│ │ 40.8│ │ 101.0│ 101.3
12│ 52.4│ │ 6.61│ 6.13│ 8.96│ │ 8.53│ │ 40.8│ │ 100.9│ 101.1
13│ 52.4│ │ 6.62│ 6.13│ 8.94│ │ 8.52│ │ 40.8│ │ 100.7│ 101.0
14│ 52.5│ │ 6.61│ 6.13│ 8.96│ │ 8.53│ │ 40.9│ │ 100.5│ 101.0
15│ 52.7│ │ 6.62│ 6.15│ 8.96│ │ 8.52│ │ 40.9│ │ 100.9│ 101.3
16│ 52.7│ │ 6.64│ 6.17│ 8.94│ │ 8.51│ │ 40.8│ │ 101.0│ 101.4
17│ 52.7│ │$6.65│ $6.18│$8.96│ │$8.53│ │ 40.7│ │ 100.7│ 101.1
18│ 52.8│ │ 6.67│ 6.18│ 8.95│ │ 8.53│ │ 40.7│ │ 100.3│ 100.8
19│ 52.7│ │ 6.67│ 6.19│ 8.96│ │ 8.55│ │ 41.1│ │ 100.5│ 101.0
20│ 52.7│ │ 6.68│ 6.21│ 8.95│ │ 8.54│ │ 41.1│ │ 101.3│ 101.6
21│ 52.8│ │ 6.69│ 6.21│ 8.96│ │ 8.56│ │ 41.1│ │ 101.3│ 101.8
22│ 52.7│ │ 6.71│ 6.23│ 8.98│ │ 8.56│ │ 41.1│ │ 101.4│ 101.8
23│ 52.9│ │ 6.74│ 6.25│ 8.99│ │ 8.56│ │ 41.1│ │ 101.4│ 101.3
24│ 53.0│ │ 6.73│ 6.26│ 8.98│ │ 8.56│ │ 41.2│ │ 101.6│ 101.7
25│ 53.1│ │ 6.75│ 6.27│ 9.00│ │ 8.58│ │ 41.3│ │ 101.3│ 102.0
26│ 53.1│ │ 6.76│ 6.29│ 9.00│ │ 8.58│ │ 41.5│ │ 101.4│ 102.1
27│ 53.4│ │ 6.72│ 6.28│ 9.03│ │ 8.62│ │ 41.7│ │ 101.5│ 102.0
28│ 53.3│ │ 6.80│ 6.33│ 9.04│ │ 8.64│ │ 41.6│ │ 101.4│ 102.0
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 52.7│ │ 6.63│ 6.14│ 8.96│ │ 8.52│ │ 40.9│ │ 100.9│ 101.2
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
MARCH.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 53.2│ │ 6.79│ 6.32│ 9.04│ 9.36│ 8.50│ │ 41.2│ │ 101.3│ 101.2
2│ 53.4│ │ 6.79│ 6.33│ 9.07│ 9.37│ 8.60│ │ 41.6│ │ 101.1│ 101.3
3│ 53.2│ │ 6.80│ 6.34│ 9.07│ 9.39│ 8.60│ │ 41.3│ │ 101.0│ 101.0
4│ 53.4│ │ 6.80│ 6.34│ 9.08│ 9.39│ 8.61│ │ 41.0│ │ 100.7│ 100.8
5│ 53.6│ │ 6.80│ 6.35│ 9.13│ 9.41│ 8.64│ │ 41.1│ │ 100.1│ 100.4
6│ 53.6│ │ 6.87│ 6.39│ 9.17│ 9.45│ 8.66│ │ 41.2│ │ 99.9│ 100.3
7│ 53.5│ │ 6.90│ 6.43│ 9.13│ 9.45│ 8.68│ │ 41.0│ │ 99.6│ 99.7
8│ 53.8│ │ 6.89│ 6.40│ 9.15│ 9.42│ 8.69│ │ 41.2│ │ 99.3│ 99.2
9│ 53.8│ │ 6.96│ 6.45│ 9.20│ 9.47│ 8.72│ │ 41.1│ │ 99.0│ 99.0
10│ 54.1│ │ 6.98│ 6.45│ 9.15│ 9.44│ 8.69│ │ 41.1│ │ 99.3│ 99.6
11│ 54.1│ │ 6.97│ 6.48│ 9.14│ 9.43│ 8.71│ │ 40.9│ │ 99.2│ 99.7
12│ 54.3│ │ 7.01│ 6.52│ 9.16│ 9.44│ 8.72│ │ 40.9│ │ 99.5│ 99.9
13│ 54.5│ │ 7.03│ 6.52│ 9.17│ 9.45│ 8.75│ │ 40.9│ │ 99.4│ 99.8
14│ 54.5│ │ 7.00│ 6.52│ 9.18│ 9.47│ 8.77│ │ 41.1│ │ 99.9│ 100.1
15│ 54.5│ │ 7.01│ 6.52│ 9.16│ 9.44│ 8.76│ │ 40.8│ │ 99.9│ 99.8
16│ 54.2│ │ 7.02│ 6.53│ 9.19│ 9.41│ 8.76│ │ 40.7│ │ 99.7│ 99.6
17│ 54.4│ │ 7.05│ 6.54│ 9.18│ 9.42│ 8.77│ │ 40.5│ │ 99.6│ 99.7
18│ 54.1│ │ 7.05│ 6.55│ 9.18│ 9.42│ 8.77│ │ 40.5│ │ 99.6│ 99.6
19│ 54.5│ │ 7.06│ 6.57│ 9.17│ 9.42│ 8.78│ │ 40.9│ │ 99.8│ 99.7
20│ 54.4│ │ 7.06│ 6.54│ 9.17│ 9.40│ 8.78│ │ 41.0│ │ 99.7│ 99.7
21│ 54.2│ │ 7.10│ 6.61│ 9.18│ 9.39│ 8.81│ │ 40.9│ │ 99.5│ 99.5
22│ 54.6│ │ 7.10│ 6.62│ 9.20│ 9.40│ 8.84│ │ 40.9│ │ 99.4│ 99.6
23│ 54.8│ │ 7.11│ 6.63│ 9.22│ 9.41│ 8.84│ │ 40.8│ │ 99.4│ 99.7
24│ 55.0│ │ 7.11│ 6.64│ 9.23│ 9.40│ 8.81│ │ 40.8│ │ 99.8│ 99.8
25│ 55.2│ │ 7.14│ 6.66│ 9.21│ 9.41│ 8.82│ │ 40.7│ │ 99.9│ 100.0
26│ 55.2│ │ 7.19│ 6.70│ 9.26│ 9.44│ 8.85│ │ 40.8│ │ 100.1│ 101.4
27│ 55.3│ │ 7.26│ 6.76│ 9.32│ 9.49│ 8.94│ │ 40.9│ │ 100.2│ 101.4
28│ 55.3│ │ 7.29│ 6.79│ 9.32│ 9.51│ 8.95│ │ 40.9│ │ 100.3│ 101.4
29│ 55.5│ │ 7.31│ 6.81│ 9.28│ 9.49│ 8.92│ │ 40.9│ │ 100.0│ 101.0
30│ 55.7│ │ 7.28│ 6.77│ 9.28│ 9.44│ 8.88│ │ 41.1│ │ 99.9│ 101.0
31│ 55.9│ │ 7.29│ 6.77│ 9.28│ 9.47│ 8.91│ │ 41.1│ │ 100.5│ 100.7
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 54.5│ │ 6.99│ 6.55│ 9.18│ 9.43│ 8.76│ │ 41.0│ │ 99.9│ 100.2
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
APRIL.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 55.6│ │$7.33│ $6.80│$9.28│$9.47│$8.91│ │ 41.3│ │ 100.7│ 101.3
2│ 56.0│ │ 7.33│ 6.82│ 9.25│ 9.46│ 8.91│ │ 41.3│ │ 100.5│ 100.1
3│ 56.1│ │ 7.31│ 6.79│ 9.23│ 9.44│ 8.90│ │ 41.3│ │ 100.6│ 100.1
4│ 56.2│ │ 7.32│ 6.82│ 9.22│ 9.41│ 8.88│ │ 41.2│ │ 100.8│ 100.1
5│ 56.4│ │ 7.30│ 6.80│ 9.19│ 9.39│ 8.86│ │ 41.2│ │ 100.9│ 100.2
6│ 56.3│ │ 7.30│ 6.79│ 9.13│ 9.36│ 8.82│ │ 41.2│ │ 101.3│ 100.5
7│ 56.6│ │ 7.28│ 6.79│ 9.16│ 9.35│ 8.80│ │ 41.2│ │ 101.4│ 100.8
8│ 56.4│ │ 7.26│ 6.77│ 9.14│ 9.34│ 8.80│ │ 41.3│ │ 101.5│ 100.5
9│ 56.7│ │ 7.27│ 6.75│ 9.19│ 9.35│ 8.79│ │ 41.4│ │ 101.7│ 100.9
10│ 56.9│ │ 7.25│ 6.75│ 9.18│ 9.36│ 8.81│ │ 41.6│ │ 101.7│ 100.9
11│ 57.2│ │ 7.26│ 6.76│ 9.16│ 9.35│ 8.78│ │ 41.7│ │ 101.9│ 100.9
12│ 57.4│ │ 7.25│ 6.74│ 9.17│ 9.36│ 8.77│ │ 41.8│ │ 102.1│ 101.2
13│ 57.6│ │ 7.24│ 6.75│ 9.17│ 9.38│ 8.79│ │ 42.1│ │ 102.6│ 101.2
14│ 57.5│ │ 7.22│ 6.73│ 9.16│ 9.38│ 8.79│ │ 41.9│ │ 102.6│ 101.3
15│ 57.4│ │ 7.18│ 6.68│ 9.15│ 9.36│ 8.76│ │ 41.9│ │ 102.6│ 101.6
16│ 57.2│ │ 7.15│ 6.64│ 9.10│ 9.32│ 8.71│ │ 41.7│ │ 102.4│ 100.9
17│ 57.4│ │ 7.15│ 6.63│ 9.09│ 9.33│ 8.77│ │ 41.7│ │ 102.6│ 101.0
18│ 57.4│ │ 7.15│ 6.64│ 9.08│ 9.32│ 8.76│ │ 41.9│ │ 102.6│ 101.4
19│ 57.3│ │ 7.07│ 6.56│ 9.06│ 9.31│ 8.76│ │ 42.0│ │ 102.9│ 101.5
20│ 57.4│ │ 7.06│ 6.55│ 9.07│ 9.31│ 8.74│ │ 42.0│ │ 102.4│ 101.1
21│ 57.6│ │ 7.04│ 6.53│ 9.09│ 9.31│ 8.78│ │ 42.0│ │ 102.2│ 101.0
22│ 57.7│ │ 7.03│ 6.55│ 9.09│ 9.32│ 8.81│ │ 41.8│ │ 102.3│ 100.4
23│ 57.5│ │ 7.00│ 6.52│ 9.09│ 9.31│ 8.81│ │ 41.8│ │ 102.2│ 99.9
24│ 57.5│ │ 7.00│ 6.52│ 9.09│ 9.31│ 8.78│ │ 41.6│ │ 101.8│ 99.5
25│ 57.8│ │ 6.99│ 6.51│ 9.13│ 9.33│ 8.79│ │ 41.9│ │ 102.0│ 100.0
26│ 57.6│ │ 7.00│ 6.51│ 9.15│ 9.36│ 8.79│ │ 42.0│ │ 101.4│ 99.6
27│ 57.9│ │ 6.96│ 6.48│ 9.18│ 9.35│ 8.80│ │ 42.0│ │ 101.3│ 99.1
28│ 58.1│ │ 6.97│ 6.46│ 9.16│ 9.37│ 8.77│ │ 42.2│ │ 101.2│ 99.3
29│ 58.3│ │ 6.93│ 6.43│ 9.17│ 9.38│ 8.78│ │ 42.1│ │ 101.3│ 99.4
30│ 58.1│ │ 6.92│ 6.40│ 9.17│ 9.37│ 8.78│ │ 42.2│ │ 102.0│ 100.7
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 57.1│ │ 7.15│ 6.65│ 9.14│ 9.36│ 8.80│ │ 41.7│ │ 101.8│ 100.5
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
MAY.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 58.5│ 52.3│ 6.88│ 6.36│ 9.18│ 9.36│ 8.82│8.96│ 42.5│ 35.5│ 102.6│ 100.5
2│ 58.9│ 52.3│ 6.86│ 6.33│ 9.18│ 9.36│ 8.83│8.97│ 42.6│ 35.6│ 103.1│ 101.2
3│ 58.9│ 52.2│ 6.85│ 6.33│ 9.19│ 9.36│ 8.84│8.98│ 42.2│ 35.4│ 103.8│ 100.8
4│ 58.9│ 52.0│ 6.86│ 6.34│ 9.25│ 9.39│ 8.88│8.99│ 42.5│ 35.3│ 104.2│ 101.6
5│ 59.2│ 52.2│ 6.89│ 6.38│ 9.27│ 9.41│ 8.90│9.03│ 42.8│ 35.5│ 104.6│ 102.0
6│ 59.3│ 52.2│ 6.91│ 6.40│ 9.23│ 9.39│ 8.91│9.01│ 42.9│ 35.4│ 104.8│ 102.0
7│ 59.6│ 52.2│ 6.87│ 6.36│ 9.25│ 9.39│ 8.89│9.00│ 43.0│ 35.5│ 104.7│ 102.2
8│ 59.6│ 52.1│ 6.88│ 6.38│ 9.26│ 9.40│ 8.93│9.04│ 43.0│ 35.5│ 104.8│ 102.5
9│ 59.6│ 52.3│ 6.89│ 6.40│ 9.27│ 9.41│ 8.98│9.07│ 43.1│ 35.6│ 105.0│ 102.8
10│ 59.8│ 52.3│ 6.91│ 6.40│ 9.26│ 9.40│ 8.97│9.06│ 43.3│ 35.6│ 105.4│ 102.7
11│ 60.2│ 52.5│ 6.95│ 6.44│ 9.29│ 9.41│ 8.97│9.08│ 43.6│ 35.9│ 105.4│ 102.9
12│ 60.2│ 52.6│ 6.94│ 6.44│ 9.31│ 9.41│ 8.99│9.08│ 43.7│ 36.1│ 106.0│ 103.1
13│ 60.3│ 52.7│ 6.94│ 6.45│ 9.32│ 9.42│ 9.02│9.09│ 43.5│ 36.0│ 106.6│ 103.7
14│ 60.4│ 52.5│ 6.96│ 6.44│ 9.33│ 9.45│ 9.04│9.11│ 43.5│ 35.9│ 106.7│ 103.6
15│ 60.5│ 52.5│ 6.93│ 6.41│ 9.33│ 9.45│ 9.03│9.10│ 43.4│ 35.8│ 106.6│ 103.7
16│ 60.4│ 52.5│ 6.92│ 6.39│ 9.31│ 9.45│ 9.04│9.09│ 43.3│ 35.8│ 106.5│ 103.6
17│ 60.9│ 52.6│ 6.95│ 6.43│ 9.36│ 9.47│ 9.09│9.13│ 43.5│ 35.9│ 106.4│ 104.0
18│ 60.8│ 52.4│ 6.93│ 6.42│ 9.31│ 9.46│ 9.06│9.12│ 43.5│ 36.1│ 106.8│ 104.4
19│ 61.0│ 52.6│ 6.89│ 6.37│ 9.28│ 9.43│ 9.06│9.11│ 43.6│ 36.2│ 106.9│ 104.6
20│ 60.7│ 52.6│ 6.89│ 6.39│ 9.26│ 9.42│ 9.05│9.10│ 43.4│ 36.2│ 107.2│ 105.0
21│ 61.1│ 52.7│ 6.91│ 6.38│ 9.26│ 9.42│ 9.07│9.10│ 43.7│ 36.3│ 107.7│ 105.2
22│ 61.3│ 52.8│ 6.91│ 6.37│ 9.27│ 9.42│ 9.05│9.10│ 43.9│ 36.5│ 108.8│ 106.0
23│ 61.2│ 52.7│ 6.88│ 6.34│ 9.27│ 9.40│ 9.05│9.09│ 44.0│ 36.5│ 108.3│ 105.4
24│ 61.4│ 52.7│ 6.86│ 6.31│ 9.24│ 9.40│ 9.08│9.10│ 44.0│ 36.4│ 108.7│ 105.6
25│ 61.4│ 52.8│ 6.83│ 6.29│ 9.26│ 9.40│ 9.12│9.11│ 44.2│ 36.6│ 109.2│ 106.0
26│ 61.9│ 52.9│ 6.82│ 6.29│ 9.30│ 9.44│ 9.13│9.15│ 44.4│ 36.7│ 109.3│ 106.1
27│ 61.2│ 52.9│ 6.84│ 6.31│ 9.31│ 9.44│ 9.14│9.18│ 44.3│ 36.7│ 108.7│ 105.7
28│ 60.3│ 52.6│ 6.84│ 6.31│ 9.30│ 9.45│ 9.16│9.20│ 44.3│ 36.4│ 107.9│ 105.5
29│ 60.4│ 52.6│ 6.82│ 6.29│ 9.31│ 9.47│ 9.19│9.22│ 43.3│ 36.3│ 107.8│ 105.4
30│ 60.4│ 52.7│ 6.84│ 6.30│ 9.32│ 9.48│ 9.20│9.24│ 43.1│ 36.4│ 106.8│ 104.9
31│ 60.5│ 52.7│ 6.86│ 6.31│ 9.33│ 9.49│ 9.22│9.24│ 43.1│ 36.4│ 106.4│ 104.2
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 60.3│ 52.5│ 6.89│ 6.36│ 9.27│ 9.42│ 9.02│9.09│ 43.4│ 36.0│ 106.4│ 103.8
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
JUNE.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 60.1│ 53.2│ 6.86│ 6.34│ 9.28│ 9.47│ 9.19│9.22│ 43.2│ 36.5│ 105.8│ 105.0
2│ 60.4│ 53.5│ 6.85│ 6.32│ 9.27│ 9.43│ 9.18│9.20│ 43.1│ 36.7│ 105.5│ 105.4
3│ 60.5│ 53.5│ 6.84│ 6.30│ 9.26│ 9.42│ 9.20│9.21│ 43.1│ 36.6│ 105.3│ 105.4
4│ 60.3│ 53.6│ 6.83│ 6.30│ 9.27│ 9.44│ 9.18│9.21│ 43.3│ 36.8│ 105.2│ 104.8
5│ 60.1│ 53.5│ 6.81│ 6.26│ 9.29│ 9.45│ 9.19│9.23│ 43.3│ 36.6│ 105.1│ 104.8
6│ 59.9│ 53.6│ 6.84│ 6.30│ 9.35│ 9.50│ 9.29│9.31│ 43.3│ 36.5│ 105.0│ 105.1
7│ 60.1│ 53.8│ 6.88│ 6.33│ 9.35│ 9.55│ 9.30│9.36│ 43.0│ 36.5│ 105.1│ 105.5
8│ 60.0│ 53.9│ 6.92│ 6.37│ 9.36│ 9.56│ 9.32│9.38│ 43.2│ 36.6│ 104.5│ 105.9
9│ 60.3│ 54.0│ 6.93│ 6.38│ 9.40│ 9.57│ 9.35│9.42│ 43.4│ 36.6│ 104.8│ 105.5
10│ 60.1│ 54.1│ 6.94│ 6.39│ 9.39│ 9.58│ 9.39│9.44│ 43.0│ 36.7│ 104.6│ 105.4
11│ 59.9│ 54.1│ 6.95│ 6.40│ 9.41│ 9.58│ 9.43│9.45│ 42.9│ 36.4│ 104.2│ 104.8
12│ 60.1│ 54.2│ 6.96│ 6.41│ 9.40│ 9.58│ 9.43│9.47│ 43.0│ 36.6│ 103.9│ 104.6
13│ 60.1│ 54.3│ 6.95│ 6.40│ 9.40│ 9.58│ 9.46│9.47│ 43.0│ 36.7│ 103.3│ 104.4
14│ 60.0│ 54.2│ 6.95│ 6.41│ 9.40│ 9.59│ 9.44│9.47│ 42.9│ 36.7│ 102.6│ 104.1
15│ 60.0│ 54.3│ 6.95│ 6.40│ 9.38│ 9.59│ 9.44│9.48│ 43.5│ 36.9│ 102.6│ 103.9
16│ 60.1│ 54.7│ 6.99│ 6.44│ 9.41│ 9.61│ 9.46│9.52│ 43.6│ 37.3│ 103.1│ 104.5
17│ 60.2│ 54.8│ 6.95│ 6.43│ 9.43│ 9.60│ 9.48│9.52│ 43.5│ 37.3│ 102.2│ 104.4
18│ 60.2│ 54.8│ 6.97│ 6.45│ 9.47│ 9.64│ 9.51│9.57│ 43.5│ 37.5│ 102.4│ 104.0
19│ 60.3│ 54.8│ 7.03│ 6.49│ 9.46│ 9.66│ 9.53│9.60│ 43.8│ 37.6│ 102.1│ 104.7
20│ 60.4│ 54.8│ 7.08│ 6.52│ 9.47│ 9.67│ 9.54│9.58│ 44.0│ 37.8│ 100.8│ 105.2
21│ 60.6│ 55.1│ 7.09│ 6.54│ 9.48│ 9.66│ 9.53│9.57│ 44.3│ 38.2│ 100.0│ 105.6
22│ 60.5│ 55.1│ 7.07│ 6.51│ 9.44│ 9.63│ 9.51│9.55│ 44.1│ 38.4│ 99.5│ 105.7
23│ 60.2│ 54.9│ 7.06│ 6.49│ 9.46│ 9.62│ 9.53│9.52│ 43.8│ 37.9│ 99.5│ 105.9
24│ 59.7│ 54.7│ 7.08│ 6.50│ 9.46│ 9.65│ 9.56│9.56│ 43.2│ 38.1│ 99.2│ 105.5
25│ 59.8│ 54.7│ 7.08│ 6.49│ 9.48│ 9.66│ 9.58│9.57│ 43.4│ 38.0│ 99.0│ 106.2
26│ 60.0│ 54.8│ 7.09│ 6.51│ 9.48│ 9.65│ 9.58│9.57│ 43.5│ 38.1│ 98.7│ 106.5
27│ 60.6│ 55.3│ 7.09│ 6.54│ 9.50│ 9.67│ 9.60│9.58│ 43.8│ 38.4│ 99.6│ 106.7
28│ 60.7│ 55.4│ 7.10│ 6.53│ 9.48│ 9.64│ 9.59│9.56│ 43.5│ 38.6│ 99.9│ 106.5
29│ 60.7│ 55.4│ 7.11│ 6.54│ 9.51│ 9.66│ 9.59│9.58│ 43.3│ 38.5│ 99.3│ 107.0
30│ 60.6│ 55.6│ 7.15│ 6.55│ 9.52│ 9.68│ 9.60│9.59│ 42.9│ 38.6│ 98.6│ 106.5
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 60.2│ 54.4│ 6.98│ 6.43│ 9.41│ 9.58│ 9.43│9.46│ 43.4│ 37.3│ 102.4│ 105.2
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
JULY.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 60.9│ 55.6│$7.17│ $6.58│$9.55│$9.70│$9.62│ │ 43.0│ 38.6│ 99.3│ 105.7
2│ 61.1│ 55.9│ 7.16│ 6.55│ 9.56│ 9.71│ 9.63│ │ 42.7│ 38.6│ 98.5│ 105.6
3│ 61.1│ 55.8│ 7.18│ 6.55│ 9.56│ 9.73│ 9.65│ │ 42.8│ 38.6│ 98.1│ 105.9
4│ 61.0│ 55.8│ 7.20│ 6.57│ 9.57│ 9.73│ 9.64│ │ 42.7│ 38.6│ 97.6│ 105.7
5│ 61.1│ 55.9│ 7.22│ 6.59│ 9.57│ 9.73│ 9.62│ │ 42.7│ 38.7│ 97.2│ 105.6
6│ 61.0│ 55.7│ 7.25│ 6.62│ 9.53│ 9.69│ 9.60│ │ 42.3│ 38.7│ 96.6│ 105.7
7│ 61.4│ 55.8│ 7.25│ 6.59│ 9.54│ 9.65│ 9.58│ │ 42.7│ 38.6│ 97.1│ 105.8
8│ 61.5│ 55.7│ 7.23│ 6.52│ 9.50│ 9.62│ 9.59│ │ 42.8│ 38.5│ 96.5│ 105.8
9│ 61.9│ 55.7│ 7.23│ 6.53│ 9.51│ 9.64│ 9.61│ │ 43.0│ 38.4│ 96.8│ 105.8
10│ 62.0│ 55.4│ 7.18│ 6.51│ 9.54│ 9.65│ 9.62│ │ 43.1│ 38.3│ 96.9│ 106.2
11│ 62.1│ 55.5│ 7.23│ 6.51│ 9.54│ 9.65│ 9.64│ │ 43.2│ 38.4│ 96.7│ 105.9
12│ 62.3│ 55.1│ 7.23│ 6.48│ 9.53│ 9.64│ 9.59│ │ 43.5│ 38.3│ 97.5│ 106.2
13│ 62.3│ 55.3│ 7.25│ 6.50│ 9.52│ 9.63│ 9.59│ │ 43.6│ 38.5│ 97.5│ 106.7
14│ 62.5│ 55.1│ 7.26│ 6.51│ 9.49│ 9.61│ 9.55│ │ 43.6│ 38.4│ 97.5│ 107.7
15│ 62.4│ 55.0│ 7.26│ 6.52│ 9.47│ 9.59│ 9.56│ │ 43.4│ 38.2│ 96.9│ 107.9
16│ 62.4│ 54.8│ 7.29│ 6.54│ 9.46│ 9.57│ 9.54│ │ 43.2│ 37.9│ 96.2│ 108.0
17│ 62.5│ 54.8│ 7.30│ 6.56│ 9.44│ 9.57│ 9.53│ │ 43.0│ 37.8│ 95.7│ 108.0
18│ 62.0│ 54.6│ 7.33│ 6.59│ 9.45│ 9.56│ 9.55│ │ 43.1│ 37.5│ 95.5│ 108.7
19│ 61.8│ 54.5│ 7.37│ 6.61│ 9.45│ 9.56│ 9.53│ │ 42.9│ 37.5│ 95.2│ 108.4
20│ 62.0│ 54.5│ 7.36│ 6.55│ 9.46│ 9.56│ 9.49│ │ 43.0│ 37.3│ 94.9│ 108.3
21│ 62.1│ 54.8│ 7.31│ 6.51│ 9.49│ 9.57│ 9.52│ │ 42.9│ 37.4│ 95.0│ 108.0
22│ 61.9│ 54.7│ 7.29│ 6.50│ 9.49│ 9.58│ 9.53│ │ 42.7│ 37.4│ 94.5│ 107.8
23│ 62.2│ 54.7│ 7.33│ 6.51│ 9.51│ 9.59│ 9.52│ │ 43.0│ 37.4│ 94.4│ 107.3
24│ 62.4│ 55.0│ 7.36│ 6.52│ 9.50│ 9.59│ 9.53│ │ 43.4│ 37.6│ 94.0│ 107.2
25│ 62.6│ 55.2│ 7.39│ 6.52│ 9.52│ 9.59│ 9.52│ │ 43.7│ 37.3│ 93.8│ 107.4
26│ 62.5│ 54.9│ 7.43│ 6.55│ 9.53│ 9.60│ 9.50│ │ 42.9│ 37.1│ 93.3│ 107.5
27│ 62.4│ 54.8│ 7.43│ 6.54│ 9.55│ 9.62│ 9.52│ │ 42.6│ 36.9│ 93.2│ 107.7
28│ 62.1│ 54.5│ 7.41│ 6.51│ 9.47│ 9.59│ 9.50│ │ 41.6│ 36.8│ 93.3│ 107.2
29│ 62.5│ 54.7│ 7.39│ 6.48│ 9.49│ 9.57│ 9.52│ │ 41.7│ 36.9│ 93.4│ 107.3
30│ 62.6│ 54.8│ 7.41│ 6.48│ 9.48│ 9.56│ 9.48│ │ 41.7│ 36.9│ 92.6│ 107.4
31│ 62.5│ 55.0│ 7.42│ 6.46│ 9.46│ 9.55│ 9.48│ │ 40.5│ 36.7│ 92.4│ 106.8
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 62.0│ 55.2│ 7.29│ 6.53│ 9.51│ 9.62│ 9.56│ │ 42.8│ 37.9│ 95.7│ 107.0
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
AUGUST.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 62.9│ 55.3│ 7.41│ 6.45│ 9.47│ 9.54│ 9.44│ │ 38.6│ 36.7│ 92.1│ 107.1
2│ 63.4│ 55.8│ 7.41│ 6.47│ 9.52│ 9.56│ 9.52│ │ 38.3│ 37.0│ 91.9│ 107.1
3│ 63.5│ 55.9│ 7.41│ 6.45│ 9.51│ 9.58│ 9.50│ │ 38.6│ 37.3│ 92.4│ 107.2
4│ 63.1│ 55.8│ 7.43│ 6.45│ 9.53│ 9.57│ 9.53│ │ 38.2│ 37.3│ 92.3│ 107.2
5│ 63.1│ 55.6│ 7.44│ 6.44│ 9.52│ 9.58│ 9.56│ │ 38.1│ 37.2│ 92.4│ 106.8
6│ 63.1│ 55.3│ 7.45│ 6.40│ 9.51│ 9.58│ 9.56│ │ 38.2│ 37.1│ 92.2│ 107.1
7│ 63.1│ 55.2│ 7.44│ 6.39│ 9.51│ 9.56│ 9.57│ │ 37.8│ 37.1│ 92.1│ 107.3
8│ 63.7│ 55.5│ 7.41│ 6.37│ 9.46│ 9.55│ 9.56│ │ 38.0│ 37.4│ 92.1│ 108.0
9│ 63.7│ 55.7│ 7.43│ 6.39│ 9.47│ 9.54│ 9.53│ │ 37.9│ 37.4│ 92.1│ 107.9
10│ 63.8│ 55.6│ 7.43│ 6.39│ 9.47│ 9.54│ 9.51│ │ 37.9│ 37.3│ 91.7│ 106.9
11│ 64.1│ 55.8│ 7.41│ 6.39│ 9.51│ 9.54│ 9.52│ │ 38.1│ 37.3│ 91.8│ 106.5
12│ 64.3│ 55.9│ 7.41│ 6.43│ 9.54│ 9.55│ 9.50│ │ 38.0│ 37.4│ 91.7│ 105.8
13│ 64.3│ 55.8│ 7.42│ 6.45│ 9.55│ 9.57│ 9.54│ │ 37.8│ 37.2│ 91.4│ 105.7
14│ 64.2│ 55.8│ 7.40│ 6.41│ 9.54│ 9.57│ 9.54│ │ 37.8│ 37.3│ 91.8│ 103.9
15│ 64.4│ 55.7│ 7.40│ 6.40│ 9.56│ 9.59│ 9.57│ │ 37.8│ 37.4│ 91.5│ 102.9
16│ 64.2│ 56.0│$7.44│ $6.41│$9.58│$9.61│$9.57│ │ 37.9│ 37.6│ 91.7│ 103.1
17│ 64.4│ 56.1│ 7.42│ 6.42│ 9.61│ 9.62│ 9.62│ │ 37.7│ 37.3│ 92.1│ 102.6
18│ 64.4│ 56.0│ 7.43│ 6.42│ 9.63│ 9.64│ 9.64│ │ 37.6│ 37.6│ 92.3│ 103.0
19│ 64.4│ 56.0│ 7.46│ 6.44│ 9.65│ 9.66│ 9.68│ │ 37.6│ 37.6│ 92.4│ 102.9
20│ 64.5│ 55.9│ 7.47│ 6.43│ 9.65│ 9.68│ 9.62│ │ 37.7│ 37.6│ 92.6│ 103.0
21│ 64.9│ 56.3│ 7.46│ 6.44│ 9.65│ 9.67│ 9.63│ │ 38.0│ 37.9│ 92.9│ 103.5
22│ 64.9│ 56.1│ 7.47│ 6.45│ 9.65│ 9.67│ 9.71│ │ 37.8│ 37.8│ 92.9│ 103.3
23│ 64.8│ 56.2│ 7.50│ 6.47│ 9.67│ 9.67│ 9.70│ │ 37.9│ 37.7│ 92.9│ 103.6
24│ 64.7│ 56.2│ 7.52│ 6.48│ 9.73│ 9.72│ 9.70│ │ 37.6│ 37.6│ 92.5│ 103.8
25│ 64.7│ 56.3│ 7.56│ 6.50│ 9.76│ 9.77│ 9.69│ │ 37.6│ 37.6│ 92.6│ 103.6
26│ 64.7│ 56.3│ 7.57│ 6.50│ 9.76│ 9.75│ 9.70│ │ 37.4│ 37.6│ 92.9│ 103.5
27│ 64.7│ 56.5│ 7.58│ 6.51│ 9.74│ 9.75│ 9.68│ │ 37.5│ 37.6│ 93.2│ 102.7
28│ 64.8│ 56.4│ 7.60│ 6.53│ 9.74│ 9.76│ 9.66│ │ 37.2│ 37.4│ 93.4│ 102.3
29│ 64.6│ 56.4│ 7.57│ 6.53│ 9.77│ 9.77│ 9.67│ │ 37.1│ 37.4│ 93.1│ 101.9
30│ 64.6│ 56.5│ 7.57│ 6.50│ 9.81│ 9.79│ 9.70│ │ 37.3│ 37.3│ 92.6│ 101.6
31│ 64.2│ 56.5│ 7.57│ 6.51│ 9.81│ 9.80│ 9.68│ │ 37.6│ 37.4│ 92.7│ 101.5
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 64.1│ 55.9│ 7.47│ 6.45│ 9.61│ 9.64│ 9.61│ │ 37.9│ 37.4│ 92.5│ 104.6
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
SEPTEMBER
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 64.7│ 56.8│ 7.55│ 6.49│ 9.82│ │ 9.69│ │ 38.1│ │ 93.6│ 101.5
2│ 64.7│ 57.0│ 7.54│ 6.48│ 9.84│ │ 9.70│ │ 38.3│ │ 93.8│ 101.6
3│ 64.7│ 57.0│ 7.55│ 6.49│ 9.87│ │ 9.73│ │ 38.3│ │ 93.9│ 101.8
4│ 64.9│ 57.3│ 7.59│ 6.51│ 9.87│ │ 9.74│ │ 38.3│ │ 94.3│ 102.1
5│ 64.7│ 57.3│ 7.60│ 6.51│ 9.88│ │ 9.72│ │ 38.2│ │ 94.0│ 101.8
6│ 64.7│ 57.1│ 7.62│ 6.52│ 9.87│ │ 9.69│ │ 38.5│ │ 94.0│ 101.6
7│ 64.7│ 57.2│ 7.65│ 6.54│ 9.86│ │ 9.68│ │ 38.3│ │ 94.1│ 101.7
8│ 64.8│ 57.2│ 7.65│ 6.54│ 9.87│ │ 9.67│ │ 38.4│ │ 94.2│ 101.6
9│ 64.6│ 57.5│ 7.70│ 6.58│ 9.86│ │ 9.64│ │ 38.2│ │ 94.3│ 101.6
10│ 64.5│ 57.0│ 7.73│ 6.61│ 9.84│ │ 9.64│ │ 38.3│ │ 94.4│ 101.1
11│ 64.3│ 57.3│ 7.69│ 6.59│ 9.86│ │ 9.65│ │ 38.3│ │ 94.5│ 101.2
12│ 64.1│ 56.9│ 7.67│ 6.60│ 9.88│ │ 9.67│ │ 38.4│ │ 95.0│ 101.1
13│ 63.9│ 57.1│ 7.64│ 6.58│ 9.85│ │ 9.67│ │ 38.6│ │ 95.7│ 101.2
14│ 63.7│ 56.9│ 7.60│ 6.55│ 9.85│ │ 9.67│ │ 38.5│ │ 95.8│ 101.3
15│ 63.4│ 56.6│ 7.62│ 6.57│ 9.85│ │ 9.64│ │ 38.5│ │ 96.0│ 101.5
16│ 63.2│ 56.3│ 7.62│ 6.53│ 9.81│ │ 9.61│ │ 38.6│ │ 96.1│ 102.1
17│ 62.9│ 56.3│ 7.60│ 6.57│ 9.79│ │ 9.62│ │ 38.7│ │ 96.0│ 101.9
18│ 63.0│ 56.2│ 7.60│ 6.58│ 9.80│ │ 9.63│ │ 38.6│ │ 95.8│ 101.4
19│ 63.3│ 56.3│ 7.60│ 6.58│ 9.85│ │ 9.71│ │ 39.0│ │ 96.5│ 101.3
20│ 63.7│ 56.7│ 7.64│ 6.59│ 9.90│ │ 9.77│ │ 39.1│ │ 96.3│ 101.3
21│ 63.2│ 56.6│ 7.59│ 6.60│ 9.93│ │ 9.77│ │ 38.9│ │ 96.7│ 101.2
22│ 63.0│ 56.3│ 7.61│ 6.61│ 9.93│ │ 9.77│ │ 38.8│ │ 96.9│ 101.6
23│ 63.0│ 56.3│ 7.64│ 6.63│ 9.95│ │ 9.77│ │ 38.6│ │ 96.9│ 101.8
24│ 62.9│ 56.1│ 7.62│ 6.63│10.00│ │ 9.77│ │ 38.6│ │ 96.9│ 101.7
25│ 63.0│ 56.2│ 7.61│ 6.65│10.00│ │ 9.78│ │ 38.3│ │ 97.0│ 101.8
26│ 62.7│ 56.2│ 7.60│ 6.66│ 9.97│ │ 9.70│ │ 38.4│ │ 96.7│ 101.8
27│ 62.5│ 56.0│ 7.57│ 6.66│ 9.94│ │ 9.70│ │ 38.4│ │ 96.9│ 101.7
28│ 62.3│ 56.1│ 7.53│ 6.60│ 9.93│ │ 9.67│ │ 38.7│ │ 97.1│ 101.5
29│ 61.9│ 55.9│ 7.54│ 6.60│ 9.87│ │ 9.61│ │ 39.1│ │ 96.9│ 101.2
30│ 61.6│ 55.7│ 7.53│ 6.60│ 9.88│ │ 9.57│ │ 39.3│ │ 96.9│ 101.4
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av. │ 63.6│ 56.6│ 7.61│ 6.58│ 9.88│ │ 9.68│ │ 38.5│ │ 95.7│ 101.5
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
OCTOBER.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 61.4│ 55.6│$7.54│ $6.60│$9.91│ │$9.56│ │ 38.3│ │ 97.2│ 100.8
2│ 61.3│ 55.8│ 7.52│ 6.59│ 9.94│ │ 9.58│ │ 38.3│ │ 97.3│ 100.8
3│ 61.3│ 55.6│ 7.53│ 6.60│ 9.95│ │ 9.55│ │ 38.2│ │ 97.2│ 100.5
4│ 60.9│ 55.4│ 7.53│ 6.59│ 9.93│ │ 9.60│ │ 38.3│ │ 97.6│ 100.6
5│ 61.1│ 55.4│ 7.54│ 6.61│ 9.93│ │ 9.62│ │ 38.5│ │ 97.3│ 100.3
6│ 61.1│ 55.4│ 7.50│ 6.58│ 9.92│ │ 9.59│ │ 38.4│ │ 97.3│ 100.3
7│ 60.8│ 55.1│ 7.47│ 6.54│ 9.88│ │ 9.60│ │ 38.4│ │ 97.5│ 100.4
8│ 61.0│ 55.3│ 7.43│ 6.51│ 9.91│ │ 9.50│ │ 38.3│ │ 97.8│ 100.5
9│ 61.1│ 55.6│ 7.43│ 6.53│ 9.92│ │ 9.47│ │ 38.6│ │ 98.0│ 100.6
10│ 61.1│ 55.4│ 7.40│ 6.51│ 9.88│ │ 9.43│ │ 38.4│ │ 98.2│ 101.0
11│ 61.0│ 55.5│ 7.39│ 6.50│ 9.90│ │ 9.43│ │ 38.4│ │ 98.1│ 101.1
12│ 61.2│ 55.6│ 7.37│ 6.48│ 9.86│ │ 9.39│ │ 38.3│ │ 98.5│ 101.4
13│ 61.1│ 55.7│ 7.31│ 6.47│ 9.82│ │ 9.42│ │ 38.3│ │ 99.0│ 101.5
14│ 60.4│ 55.6│ 7.30│ 6.44│ 9.87│ │ 9.42│ │ 38.4│ │ 98.8│ 101.7
15│ 60.3│ 55.5│ 7.29│ 6.45│ 9.89│ │ 9.39│ │ 38.1│ │ 99.2│ 101.7
16│ 59.8│ 55.3│ 7.26│ 6.44│ 9.86│ │ 9.35│ │ 37.9│ │ 98.9│ 101.7
17│ 59.6│ 55.0│ 7.24│ 6.40│ 9.81│ │ 9.29│ │ 37.8│ │ 99.3│ 101.3
18│ 59.9│ 55.0│ 7.25│ 6.39│ 9.82│ │ 9.24│ │ 37.8│ │ 98.8│ 101.1
19│ 60.2│ 55.2│ 7.25│ 6.39│ 9.89│ │ 9.20│ │ 38.8│ │ 98.9│ 101.1
20│ 60.2│ 55.2│ 7.18│ 6.33│ 9.90│ │ 9.15│ │ 37.8│ │ 99.0│ 100.8
21│ 60.2│ 55.2│ 7.17│ 6.30│ 9.92│ │ 9.13│ │ 37.8│ │ 99.2│ 100.8
22│ 59.8│ 55.0│ 7.13│ 6.28│ 9.90│ │ 9.09│ │ 37.8│ │ 98.9│ 100.9
23│ 60.0│ 54.9│ 7.09│ 6.26│ 9.86│ │ 9.09│ │ 37.8│ │ 98.9│ 99.6
24│ 59.7│ 55.0│ 7.08│ 6.20│ 9.84│ │ 9.11│ │ 37.8│ │ 98.7│ 99.1
25│ 59.7│ 55.1│ 7.05│ 6.16│ 9.82│ │ 9.10│ │ 37.8│ │ 98.9│ 99.0
26│ 60.0│ 55.2│ 7.00│ 6.13│ 9.81│ │ 9.07│ │ 38.0│ │ 98.9│ 99.0
27│ 60.0│ 55.3│ 6.99│ 6.12│ 9.78│ │ 9.04│ │ 37.8│ │ 99.0│ 98.8
28│ 59.8│ 55.2│ 6.99│ 6.12│ 9.77│ │ 9.07│ │ 37.7│ │ 98.7│ 98.7
29│ 59.5│ 55.1│ 6.95│ 6.12│ 9.73│ │ 9.08│ │ 37.4│ │ 98.8│ 98.8
30│ 59.4│ 55.0│ 6.91│ 6.05│ 9.72│ │ 9.03│ │ 37.6│ │ 98.4│ 98.7
31│ 59.5│ 55.0│ 6.88│ 6.02│ 9.68│ │ 9.00│ │ 37.6│ │ 98.1│ 98.7
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 60.4│ 55.3│ 7.26│ 6.38│ 9.85│ │ 9.31│ │ 38.2│ │ 98.4│ 100.2
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
NOVEMBER.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 59.5│ 55.0│ 6.88│ 5.99│ 9.58│ │ 9.01│ │ 37.6│ │ 97.6│ 98.2
2│ 58.8│ 55.0│ 6.88│ 6.00│ 9.57│ │ 8.96│ │ 37.5│ │ 97.9│ 98.0
3│ 58.9│ 54.9│ 6.91│ 6.03│ 9.59│ │ 8.93│ │ 37.5│ │ 97.5│ 98.5
4│ 58.9│ 54.9│ 6.93│ 6.07│ 9.56│ │ 8.93│ │ 37.7│ │ 97.1│ 97.3
5│ 58.9│ 54.7│ 6.86│ 6.02│ 9.61│ │ 8.91│ │ 37.5│ │ 97.2│ 97.7
6│ 58.5│ 54.6│ 6.81│ 6.01│ 9.63│ │ 8.89│ │ 37.5│ │ 97.1│ 97.1
7│ 58.6│ 54.5│ 6.80│ 6.01│ 9.65│ │ 8.93│ │ 36.8│ │ 97.1│ 97.1
8│ 58.4│ 54.4│ 6.78│ 6.00│ 9.66│ │ 8.95│ │ 37.4│ │ 96.9│ 97.0
9│ 58.4│ 54.4│ 6.78│ 6.02│ 9.66│ │ 8.95│ │ 37.7│ │ 97.0│ 97.0
10│ 58.7│ 54.5│ 6.79│ 6.05│ 9.63│ │ 8.92│ │ 37.8│ │ 97.1│ 97.3
11│ 58.7│ 54.4│ 6.77│ 6.04│ 9.63│ │ 8.91│ │ 37.8│ │ 97.6│ 97.6
12│ 58.7│ 54.5│ 6.77│ 6.05│ 9.64│ │ 8.91│ │ 37.5│ │ 97.8│ 97.9
13│ 58.9│ 54.3│ 6.75│ 6.04│ 9.60│ │ 8.93│ │ 37.7│ │ 97.9│ 98.1
14│ 59.1│ 54.5│ 6.71│ 6.01│ 9.67│ │ 8.95│ │ 37.7│ │ 98.1│ 98.2
15│ 59.1│ 54.5│ 6.69│ 6.00│ 9.72│ │ 8.94│ │ 37.7│ │ 97.8│ 98.1
16│ 59.4│ 54.5│$6.63│ $5.97│$9.66│ │$8.97│ │ 37.8│ │ 97.9│ 98.4
17│ 59.2│ 54.6│ 6.62│ 5.97│ 9.63│ │ 8.98│ │ 37.8│ │ 98.0│ 98.6
18│ 59.0│ 54.2│ 6.61│ 5.95│ 9.63│ │ 8.98│ │ 37.7│ │ 97.8│ 98.4
19│ 58.6│ 54.2│ 6.57│ 5.91│ 9.61│ │ 8.92│ │ 37.6│ │ 97.3│ 98.4
20│ 58.2│ 54.1│ 6.55│ 5.91│ 9.60│ │ 8.95│ │ 37.2│ │ 97.4│ 98.2
21│ 58.2│ 54.1│ 6.52│ 5.88│ 9.54│ │ 8.94│ │ 37.7│ │ 97.1│ 98.0
22│ 57.9│ 53.9│ 6.49│ 5.84│ 9.50│ │ 8.93│ │ 37.6│ │ 96.8│ 97.9
23│ 57.7│ 53.9│ 6.46│ 5.82│ 9.48│ │ 8.88│ │ 37.7│ │ 96.6│ 98.2
24│ 57.7│ 53.8│ 6.43│ 5.80│ 9.43│ │ 8.84│ │ 37.6│ │ 97.0│ 98.1
25│ 57.5│ 53.8│ 6.38│ 5.74│ 9.41│ │ 8.83│ │ 37.6│ │ 97.2│ 98.3
26│ 57.1│ 53.8│ 6.40│ 5.75│ 9.42│ │ 8.84│ │ 37.7│ │ 97.3│ 98.1
27│ 57.1│ 53.9│ 6.43│ 5.79│ 9.45│ │ 8.85│ │ 37.7│ │ 97.2│ 98.1
28│ 56.9│ 53.7│ 6.45│ 5.79│ 9.50│ │ 8.84│ │ 37.5│ │ 97.0│ 98.1
29│ 56.7│ 53.6│ 6.51│ 5.84│ 9.53│ │ 8.82│ │ 37.5│ │ 96.8│ 97.9
30│ 56.5│ 53.6│ 6.53│ 5.86│ 9.57│ │ 8.84│ │ 37.5│ │ 96.9│ 98.0
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 58.3│ 54.3│ 6.66│ 5.94│ 9.58│ │ 8.92│ │ 37.6│ │ 97.3│ 97.9
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
DECEMBER.
────┬──────┬──────┬─────┬───────┬─────┬─────┬─────┬────┬──────┬──────┬──────┬────────
1│ 56.0│ │ 6.54│ 5.88│ 9.49│ │ 8.87│ │ 37.6│ │ 97.2│ 98.3
2│ 56.1│ │ 6.55│ 5.90│ 9.45│ │ 8.86│ │ 37.8│ │ 97.6│ 98.3
3│ 55.4│ │ 6.53│ 5.92│ 9.44│ │ 8.84│ │ 38.1│ │ 97.6│ 98.3
4│ 55.9│ │ 6.52│ 5.92│ 9.43│ │ 8.82│ │ 38.3│ │ 97.9│ 98.5
5│ 56.8│ │ 6.55│ 5.93│ 9.44│ │ 8.80│ │ 38.6│ │ 97.9│ 98.8
6│ 57.0│ │ 6.57│ 5.96│ 9.42│ │ 8.80│ │ 38.6│ │ 98.3│ 98.9
7│ 57.7│ │ 6.56│ 5.97│ 9.39│ │ 8.80│ │ 38.7│ │ 98.5│ 98.5
8│ 56.7│ │ 6.51│ 5.95│ 9.52│ │ 8.77│ │ 38.8│ │ 97.9│ 98.6
9│ 56.4│ │ 6.52│ 5.98│ 9.53│ │ 8.76│ │ 38.7│ │ 98.1│ 99.1
10│ 56.0│ │ 6.54│ 5.96│ 9.53│ │ 8.78│ │ 38.8│ │ 97.8│ 98.4
11│ 56.0│ │ 6.55│ 5.96│ 9.43│ │ 8.77│ │ 38.7│ │ 97.8│ 98.2
12│ 56.0│ │ 6.53│ 5.98│ 9.41│ │ 8.74│ │ 38.8│ │ 97.9│ 98.5
13│ 55.8│ │ 6.50│ 5.96│ 9.42│ │ 8.75│ │ 39.0│ │ 98.1│ 98.6
14│ 55.6│ │ 6.42│ 5.93│ 9.44│ │ 8.76│ │ 38.6│ │ 98.2│ 98.4
15│ 55.6│ │ 6.45│ 5.93│ 9.43│ │ 8.76│ │ 38.9│ │ 98.0│ 98.6
16│ 55.4│ │ 6.44│ 5.92│ 9.41│ │ 8.74│ │ 38.9│ │ 98.8│ 98.9
17│ 55.7│ │ 6.47│ 5.93│ 9.38│ │ 8.74│ │ 38.8│ │ 99.4│ 99.2
18│ 55.6│ │ 6.46│ 5.94│ 9.34│ │ 8.64│ │ 38.8│ │ 99.6│ 99.5
19│ 55.7│ │ 6.46│ 5.92│ 9.35│ │ 8.65│ │ 38.8│ │ 99.6│ 99.4
20│ 55.8│ │ 6.44│ 5.91│ 9.37│ │ 8.69│ │ 38.9│ │ 99.9│ 99.4
21│ 55.6│ │ 6.48│ 5.93│ 9.41│ │ 8.69│ │ 38.7│ │ 99.7│ 99.4
22│ 55.5│ │ 6.48│ 5.92│ 9.40│ │ 8.68│ │ 38.5│ │ 99.4│ 99.4
23│ 55.5│ │ 6.51│ 5.94│ 9.43│ │ 8.70│ │ 38.6│ │ 99.4│ 99.2
24│ 55.5│ │ 6.53│ 5.96│ 9.45│ │ 8.71│ │ 38.6│ │ 99.6│ 99.3
25│ 55.4│ │ 6.54│ 5.98│ 9.42│ │ 8.69│ │ 38.5│ │ 99.8│ 99.6
26│ 55.2│ │ 6.57│ 6.01│ 9.40│ │ 8.69│ │ 38.5│ │ 99.4│ 100.6
27│ 55.1│ │ 6.59│ 6.04│ 9.34│ │ 8.66│ │ 38.6│ │ 99.8│ 100.8
28│ 54.8│ │ 6.60│ 6.07│ 9.25│ │ 8.61│ │ 38.7│ │ 100.1│ 99.7
29│ 54.4│ │ 6.61│ 6.10│ 9.27│ │ 8.60│ │ 39.0│ │ 100.0│ 99.6
30│ 54.9│ │ 6.63│ 6.11│ 9.26│ │ 8.60│ │ 38.7│ │ 100.1│ 99.9
────┼──────┼──────┼─────┼───────┼─────┼─────┼─────┼────┼──────┼──────┼──────┼────────
Av.│ 55.7│ │ 6.52│ 5.96│ 9.42│ │ 8.73│ │ 38.6│ │ 98.8│ 99.1
────┴──────┴──────┴─────┴───────┴─────┴─────┴─────┴────┴──────┴──────┴──────┴────────
DUN’S INDEX NUMBER FOR JULY 1—1860–1919.
The record is here given from 1860 to 1919, inclusive, July 1st of each
year, usually the low point of the year.
═══════════════╤═══════════╤═════╤══════╤═════╤════════╤══════╤═══════════╤═══════
│Breadstuffs│Meat │Dairy │Other│Clothing│Metals│Miscell’n’s│ Total
│ │ │ and │Food │ │ │ │
│ │ │Garden│ │ │ │ │
───────────────┼───────────┼─────┼──────┼─────┼────────┼──────┼───────────┼───────
1860 │ $20.53│ $ │$12.66│ $ │ $22.43│$25.85│ $15.84│$115.19
│ │8.97 │ │8.89 │ │ │ │
1861 │ 15.74│ 7.48│ 10.81│ 7.65│ 21.14│ 22.50│ 16.57│ 101.92
1862 │ 18.05│ 7.15│ 13.40│10.98│ 28.41│ 23.20│ 17.29│ 118.51
1863 │ 26.15│10.11│ 13.53│16.35│ 45.67│ 37.07│ 24.26│ 173.18
1864 │ 45.61│15.68│ 26.05│27.30│ 73.48│ 59.19│ 31.65│ 278.98
1865 │ 25.40│16.11│ 18.04│21.05│ 49.30│ 38.95│ 25.55│ 194.43
1866 │ 31.47│17.15│ 23.47│20.82│ 45.37│ 41.76│ 27.92│ 207.97
1867 │ 36.53│14.27│ 18.41│20.16│ 38.16│ 35.42│ 25.52│ 188.52
1868 │ 38.41│13.21│ 23.61│19.72│ 35.69│ 27.38│ 24.78│ 182.82
1869 │ 29.11│13.18│ 18.12│16.34│ 35.30│ 28.35│ 24.20│ 164.63
1870 │ 25.32│14.16│ 16.11│13.30│ 31.48│ 26.61│ 21.78│ 148.78
1871 │ 24.80│12.17│ 20.79│13.82│ 30.62│ 27.37│ 21.90│ 151.51
1872 │ 22.17│11.05│ 16.01│14.84│ 32.42│ 32.64│ 21.31│ 150.47
1873 │ 20.46│10.11│ 15.62│13.62│ 29.41│ 32.29│ 21.55│ 143.08
1874 │ 25.65│11.56│ 19.14│13.67│ 27.26│ 25.25│ 19.58│ 143.13
1875 │ 24.84│13.28│ 14.91│14.41│ 25.31│ 23.51│ 18.39│ 134.70
1876 │ 18.77│10.72│ 15.91│12.91│ 21.74│ 20.45│ 15.95│ 116.47
1877 │ 21.81│10.03│ 11.79│13.32│ 21.85│ 15.57│ 15.16│ 109.54
1878 │ 15.67│ 8.18│ 10.60│11.34│ 19.83│ 15.78│ 14.83│ 96.26
1879 │ 17.05│ 8.23│ 10.25│ 9.88│ 20.42│ 15.14│ 16.28│ 97.28
1880 │ 17.46│ 9.23│ 12.59│11.53│ 21.98│ 18.70│ 17.13│ 108.65
1881 │ 20.36│11.38│ 11.31│11.66│ 20.98│ 19.29│ 16.90│ 111.90
1882 │ 25.49│13.74│ 14.68│11.62│ 21.20│ 19.83│ 16.65│ 123.23
1883 │ 19.01│11.21│ 12.25│10.72│ 20.20│ 18.07│ 15.76│ 107.24
1884 │ 17.87│11.17│ 11.36│ 9.32│ 19.01│ 16.27│ 14.68│ 99.70
1885 │ 16.37│ 9.20│ 10.87│ 8.71│ 17.74│ 14.13│ 13.66│ 90.69
1886 │ 15.31│ 8.90│ 10.24│ 8.57│ 18.06│ 14.46│ 13.66│ 89.22
1887 │ 15.15│ 8.66│ 11.18│ 9.25│ 18.17│ 16.03│ 15.15│ 93.62
1888 │ 16.98│ 9.41│ 11.84│ 9.91│ 17.44│ 15.36│ 14.15│ 95.13
1889 │ 14.35│ 8.24│ 9.69│10.91│ 17.10│ 14.78│ 14.60│ 89.69
1890 │ 14.86│ 8.03│ 10.71│ 9.74│ 17.26│ 15.50│ 15.41│ 91.54
1891 │ 19.78│ 9.21│ 12.45│ 9.33│ 16.50│ 15.10│ 13.69│ 96.09
1892 │ 17.42│ 8.70│ 10.40│ 8.73│ 15.64│ 14.82│ 14.25│ 90.10
1893 │ 14.96│10.13│ 11.71│ 9.18│ 15.87│ 14.03│ 14.71│ 90.61
1894 │ 15.11│ 9.38│ 10.39│ 8.47│ 13.86│ 12.01│ 14.04│ 83.29
1895 │ 14.76│ 8.62│ 9.87│ 8.68│ 15.31│ 11.02│ 13.23│ 81.51
1896 │ 10.50│ 7.05│ 7.87│ 8.52│ 13.60│ 13.23│ 13.52│ 74.31
1897 │ 10.58│ 7.52│ 8.71│ 7.88│ 13.80│ 11.64│ 12.28│ 72.45
1898 │ 12.78│ 7.69│ 9.43│ 8.82│ 14.66│ 11.84│ 12.52│ 77.76
1899 │ 13.48│ 7.98│ 10.97│ 9.15│ 15.02│ 15.63│ 12.96│ 85.22
1900 │ 14.89│ 8.90│ 10.90│ 9.48│ 16.32│ 14.83│ 16.07│ 91.41
1901 │ 14.90│ 9.43│ 11.03│ 9.08│ 15.09│ 15.34│ 16.61│ 91.50
1902 │ 20.53│11.62│ 12.55│ 8.74│ 15.53│ 16.08│ 16.82│ 101.91
1903 │ 17.47│ 9.26│ 13.08│ 9.18│ 17.13│ 16.54│ 16.76│ 99.45
1904 │ 18.24│ 9.03│ 10.64│10.40│ 16.51│ 15.42│ 16.91│ 97.19
1905 │ 18.83│ 8.61│ 9.98│ 9.92│ 17.98│ 15.91│ 17.06│ 98.31
1906 │ 17.92│ 9.67│ 12.59│ 9.64│ 19.17│ 16.64│ 19.55│ 105.21
1907 │ 20.30│10.19│ 14.76│10.01│ 20.35│ 17.68│ 20.33│ 113.66
1908 │ 22.82│10.19│ 12.55│10.46│ 17.23│ 16.54│ 18.35│ 108.17
1909 │ 25.85│ 9.95│ 15.26│10.62│ 20.06│ 16.42│ 20.82│ 119.02
1910 │ 21.69│11.40│ 14.66│10.55│ 21.17│ 16.74│ 22.93│ 119.16
1911 │ 21.28│ 9.41│ 17.47│11.38│ 19.32│ 16.58│ 22.66│ 118.13
1912 │ 25.96│10.71│ 15.50│11.82│ 20.44│ 16.34│ 21.47│ 122.27
1913 │ 21.19│13.09│ 13.03│10.21│ 20.53│ 16.51│ 21.73│ 116.31
1914 │ 21.08│12.97│ 17.24│10.44│ 20.83│ 15.69│ 21.42│ 119.70
1915 │ 26.46│12.13│ 15.56│10.72│ 20.90│ 16.60│ 22.56│ 124.95
1916 │ 26.37│14.40│ 19.43│12.15│ 25.80│ 21.17│ 25.79│ 145.14
1917 │ 53.91│18.82│ 26.44│14.22│ 36.52│ 32.39│ 29.61│ 211.95
1918 │ 51.42│23.71│ 24.75│21.92│ 45.23│ 30.17│ 35.34│ 232.57
1919 │ 51.72│25.66│ 26.16│23.34│ 45.62│ 25.75│ 35.43│ 233.70
───────────────┴───────────┴─────┴──────┴─────┴────────┴──────┴───────────┴───────
DUN’S INDEX NUMBER—MONTHLY RECORD, 1903–1919.
───────────────┬───────────┬─────┬──────┬─────┬────────┬──────┬───────────┬───────
1903— January │ 17.10│ 9.52│ 14.61│ 9.41│ 15.93│ 17.18│ 16.57│ 100.35
February │ 17.66│ 9.18│ 14.33│ 9.36│ 16.26│ 17.09│ 17.01│ 100.92
March │ 17.86│ 9.60│ 13.53│ 9.40│ 16.50│ 17.08│ 17.05│ 101.06
April │ 16.72│ 9.65│ 13.51│ 9.34│ 16.40│ 16.56│ 17.05│ 99.26
May │ 16.38│ 9.75│ 13.16│ 9.23│ 16.54│ 16.58│ 16.90│ 98.56
June │ 17.03│ 9.21│ 13.24│ 9.21│ 16.79│ 16.54│ 16.88│ 98.93
July │ 17.47│ 9.26│ 13.08│ 9.18│ 17.13│ 16.54│ 16.76│ 99.45
August │ 17.37│ 8.97│ 11.80│ 9.26│ 17.17│ 16.48│ 16.80│ 97.89
September│ 17.47│ 8.92│ 12.35│ 9.24│ 17.13│ 16.54│ 16.87│ 98.54
October │ 16.69│ 8.83│ 12.60│ 9.17│ 16.81│ 16.36│ 16.89│ 97.37
November │ 16.61│ 7.99│ 13.58│ 9.72│ 16.68│ 16.17│ 17.05│ 97.82
December │ 16.34│ 7.95│ 14.57│ 9.64│ 16.82│ 16.03│ 16.84│ 98.22
│ │ │ │ │ │ │ │
1904— January │ 17.10│ 8.13│ 15.28│ 9.65│ 17.31│ 15.88│ 16.75│ 100.14
February │ 17.98│ 8.20│ 15.07│ 9.66│ 18.12│ 15.77│ 17.19│ 102.02
March │ 20.11│ 8.52│ 14.54│ 9.46│ 17.91│ 15.84│ 17.19│ 103.61
April │ 18.94│ 8.49│ 15.36│ 9.60│ 17.77│ 15.26│ 17.03│ 102.48
May │ 18.69│ 8.22│ 15.40│10.26│ 17.42│ 15.36│ 16.83│ 102.20
June │ 19.52│ 8.33│ 13.15│10.39│ 17.15│ 15.43│ 16.95│ 100.95
July │ 18.24│ 9.03│ 10.64│10.40│ 16.51│ 15.42│ 16.91│ 97.19
August │ 18.25│ 8.83│ 10.68│10.37│ 16.62│ 15.49│ 16.96│ 97.22
September│ 18.47│ 8.46│ 11.27│10.57│ 16.73│ 15.50│ 16.81│ 97.84
October │ 18.46│ 8.58│ 12.03│10.51│ 16.61│ 15.29│ 16.89│ 98.39
November │ 18.79│ 8.23│ 12.88│10.43│ 16.71│ 15.38│ 16.98│ 99.43
December │ 18.03│ 8.20│ 13.82│10.52│ 17.00│ 15.97│ 16.98│ 100.55
│ │ │ │ │ │ │ │
1905— January │ 18.27│ 7.95│ 13.94│10.69│ 16.31│ 16.18│ 16.93│ 100.31
February │ 18.08│ 8.03│ 13.65│10.81│ 16.88│ 16.17│ 17.40│ 101.04
March │ 18.07│ 8.41│ 14.10│10.66│ 16.91│ 16.33│ 17.42│ 101.93
April │ 17.71│ 8.59│ 12.26│10.57│ 16.98│ 15.66│ 17.39│ 99.20
May │ 16.40│ 8.72│ 11.81│10.50│ 17.05│ 15.76│ 17.29│ 97.56
June │ 17.97│ 8.89│ 10.77│10.47│ 17.38│ 15.78│ 17.46│ 98.75
July │ 18.83│ 8.61│ 9.98│ 9.92│ 17.98│ 15.91│ 17.06│ 98.31
August │ 17.27│ 8.71│ 12.12│ 9.92│ 18.45│ 16.14│ 17.22│ 99.84
September│ 16.66│ 9.00│ 12.18│ 9.89│ 18.91│ 16.38│ 17.25│ 100.30
October │ 16.85│ 8.35│ 12.86│ 9.73│ 18.77│ 16.57│ 17.27│ 100.42
November │ 18.03│ 8.44│ 14.80│ 9.62│ 18.83│ 16.68│ 17.42│ 103.85
December │ 17.29│ 8.51│ 14.91│ 9.83│ 19.13│ 16.97│ 18.65│ 105.31
│ │ │ │ │ │ │ │
1906— January │ 16.55│ 8.42│ 14.39│ 9.82│ 19.31│ 17.14│ 18.80│ 104.46
February │ 16.05│ 8.69│ 13.97│ 9.68│ 19.13│ 17.04│ 19.41│ 104.01
March │ 15.71│ 9.15│ 13.64│ 9.62│ 19.01│ 16.97│ 20.07│ 104.20
April │ 16.29│ 9.33│ 14.73│ 9.41│ 19.12│ 16.92│ 20.22│ 106.06
May │ 17.05│ 9.29│ 13.84│ 9.46│ 19.19│ 16.94│ 20.26│ 106.05
June │ 17.37│ 9.45│ 14.35│ 9.47│ 19.12│ 16.59│ 20.41│ 106.79
July │ 17.92│ 9.67│ 12.59│ 9.64│ 19.17│ 16.64│ 19.55│ 105.21
August │ 16.43│ 9.71│ 11.96│ 9.76│ 18.97│ 16.78│ 19.35│ 102.98
September│ 16.25│ 9.60│ 13.32│ 9.75│ 18.85│ 17.08│ 19.40│ 104.28
October │ 16.21│ 9.35│ 13.97│ 9.78│ 18.98│ 17.42│ 19.49│ 105.23
November │ 16.62│ 9.38│ 14.53│ 9.84│ 19.17│ 17.59│ 19.52│ 106.68
December │ 16.34│ 9.27│ 15.91│ 9.87│ 19.48│ 17.92│ 19.33│ 108.17
│ │ │ │ │ │ │ │
1907— January │ 16.07│ 9.35│ 14.96│ 9.76│ 19.63│ 18.08│ 19.38│ 107.26
February │ 16.38│ 9.69│ 14.41│ 9.80│ 19.79│ 18.16│ 19.10│ 107.36
March │ 17.47│ 9.67│ 15.72│ 9.76│ 20.00│ 18.13│ 19.13│ 109.91
April │ 16.98│ 9.62│ 14.79│ 9.81│ 19.99│ 17.37│ 19.30│ 107.89
May │ 18.16│ 9.64│ 14.46│ 9.82│ 20.09│ 17.52│ 19.24│ 108.95
June │ 20.08│ 9.98│ 15.41│10.10│ 20.25│ 17.68│ 20.12│ 113.65
July │ 20.30│10.19│ 14.76│10.01│ 20.35│ 17.68│ 20.33│ 113.66
August │ 19.87│10.09│ 15.45│10.04│ 20.28│ 17.66│ 20.31│ 113.72
September│ 22.48│10.15│ 15.01│10.18│ 20.52│ 17.62│ 20.08│ 116.07
October │ 22.94│ 9.66│ 15.64│10.44│ 20.16│ 17.29│ 19.97│ 116.14
November │ 21.98│ 9.22│ 15.84│ 9.62│ 19.93│ 17.17│ 19.83│ 113.63
December │ 21.29│ 8.92│ 17.16│10.15│ 19.38│ 16.93│ 19.40│ 113.27
│ │ │ │ │ │ │ │
1908— January │ 22.25│ 8.14│ 17.38│10.23│ 18.84│ 17.23│ 19.18│ 113.28
February │ 21.12│ 8.24│ 15.64│10.38│ 18.31│ 16.94│ 19.26│ 109.91
March │ 21.48│ 8.54│ 15.90│10.35│ 17.73│ 17.12│ 19.25│ 110.38
April │ 22.03│ 9.22│ 14.36│10.50│ 17.20│ 17.17│ 18.22│ 108.72
May │ 22.88│ 9.77│ 14.30│10.39│ 16.80│ 16.87│ 19.15│ 110.18
June │ 23.16│ 9.62│ 13.11│10.31│ 16.91│ 16.65│ 18.19│ 107.98
July │ 22.82│10.19│ 12.55│10.46│ 17.23│ 16.54│ 18.35│ 108.17
August │ 24.15│ 9.99│ 13.35│10.34│ 17.34│ 16.53│ 17.75│ 109.49
September│ 24.17│ 9.48│ 13.92│10.09│ 17.32│ 16.72│ 17.60│ 109.33
October │ 23.99│ 9.53│ 14.62│10.09│ 17.22│ 16.82│ 17.71│ 109.99
November │ 23.57│ 9.17│ 15.01│10.31│ 17.30│ 16.78│ 17.73│ 109.91
December │ 21.87│ 9.13│ 17.01│10.42│ 17.82│ 16.92│ 17.78│ 111.00
│ │ │ │ │ │ │ │
1909— January │ 21.48│ 9.14│ 18.10│10.39│ 18.02│ 16.91│ 17.78│ 111.84
February │ 22.90│10.27│ 15.64│10.50│ 18.27│ 16.93│ 18.91│ 113.45
March │ 23.96│ 8.86│ 15.21│10.41│ 18.89│ 16.65│ 21.41│ 115.42
April │ 24.12│ 9.24│ 16.14│10.68│ 18.63│ 16.38│ 21.63│ 116.86
May │ 25.69│ 9.02│ 15.70│10.62│ 19.07│ 16.35│ 21.78│ 118.26
June │ 26.78│ 9.49│ 16.05│10.65│ 19.58│ 16.45│ 22.00│ 121.02
July │ 25.85│ 9.95│ 15.26│10.62│ 20.06│ 16.42│ 20.82│ 119.02
August │ 23.70│ 9.61│ 15.76│10.81│ 20.92│ 16.61│ 20.58│ 118.02
September│ 22.00│ 9.54│ 16.01│10.74│ 21.06│ 16.94│ 20.65│ 116.96
October │ 21.53│ 9.45│ 16.26│10.97│ 21.52│ 17.20│ 21.36│ 118.30
November │ 21.63│ 9.35│ 17.50│11.07│ 22.14│ 17.30│ 21.75│ 120.77
December │ 22.31│ 9.54│ 19.16│11.05│ 22.13│ 17.43│ 21.77│ 123.41
│ │ │ │ │ │ │ │
1910— January │ 23.83│ 9.64│ 18.90│10.80│ 20.63│ 17.49│ 22.12│ 123.43
February │ 23.50│ 9.68│ 17.56│10.81│ 21.67│ 17.41│ 21.74│ 122.39
March │ 23.42│10.78│ 16.92│10.90│ 21.78│ 17.26│ 21.74│ 122.84
April │ 22.17│12.35│ 15.23│10.77│ 22.06│ 17.13│ 21.81│ 121.55
May │ 20.99│11.54│ 14.32│10.51│ 22.19│ 16.93│ 21.80│ 118.30
June │ 20.59│11.69│ 14.32│10.54│ 21.28│ 16.89│ 21.91│ 117.24
July │ 21.69│11.40│ 14.66│10.55│ 21.17│ 16.74│ 22.93│ 119.16
August │ 21.86│11.08│ 15.45│10.83│ 20.50│ 16.58│ 22.17│ 118.52
September│ 20.26│11.02│ 15.73│11.03│ 20.55│ 16.65│ 22.15│ 117.43
October │ 19.12│10.37│ 16.23│11.03│ 19.93│ 16.57│ 22.18│ 115.44
November │ 18.83│ 9.89│ 16.81│10.86│ 19.89│ 16.14│ 22.18│ 114.62
December │ 18.56│ 9.78│ 18.01│10.50│ 20.04│ 16.09│ 21.65│ 114.66
│ │ │ │ │ │ │ │
1911— January │ 18.01│ 9.48│ 18.07│11.19│ 19.64│ 16.51│ 22.17│ 115.10
February │ 18.17│ 9.96│ 16.46│11.25│ 19.59│ 16.59│ 22.20│ 114.25
March │ 17.76│10.14│ 14.58│11.01│ 19.78│ 16.74│ 22.24│ 112.28
April │ 18.17│ 9.74│ 13.63│11.07│ 19.35│ 16.71│ 22.22│ 110.92
May │ 19.97│ 9.36│ 14.75│11.28│ 20.02│ 16.69│ 22.16│ 114.25
June │ 20.50│ 9.63│ 14.70│10.98│ 18.84│ 16.61│ 22.08│ 113.37
July │ 21.28│ 9.41│ 17.47│11.38│ 19.32│ 16.58│ 22.66│ 118.12
August │ 21.69│ 9.90│ 19.24│11.60│ 18.77│ 16.52│ 22.02│ 119.77
September│ 22.14│10.08│ 18.00│12.05│ 18.50│ 16.50│ 22.04│ 119.33
October │ 23.82│ 9.61│ 16.50│12.33│ 18.63│ 16.30│ 22.06│ 119.29
November │ 24.86│ 9.21│ 19.19│12.59│ 18.19│ 16.29│ 21.61│ 121.97
December │ 23.12│ 8.92│ 22.17│12.61│ 18.19│ 16.36│ 21.53│ 122.92
│ │ │ │ │ │ │ │
1912— January │ 23.52│ 8.92│ 21.28│12.26│ 18.63│ 16.37│ 22.43│ 123.43
February │ 24.27│ 9.17│ 21.89│12.23│ 19.04│ 16.35│ 22.43│ 125.42
March │ 24.71│ 9.51│ 19.36│12.22│ 19.49│ 15.96│ 22.25│ 123.52
April │ 25.59│10.59│ 21.77│12.32│ 19.86│ 15.55│ 22.35│ 128.04
May │ 27.63│11.28│ 20.77│11.75│ 19.97│ 15.91│ 21.64│ 128.98
June │ 27.39│11.01│ 18.08│11.97│ 20.00│ 16.10│ 21.41│ 125.98
July │ 25.96│10.71│ 15.50│11.82│ 20.44│ 16.34│ 21.47│ 122.27
August │ 24.76│10.84│ 16.75│11.70│ 20.58│ 16.66│ 21.57│ 123.89
September│ 24.08│11.18│ 16.49│11.59│ 20.70│ 17.02│ 21.46│ 122.54
October │ 21.76│10.92│ 18.62│11.75│ 20.70│ 17.63│ 21.69│ 123.10
November │ 22.37│10.45│ 19.41│11.10│ 20.78│ 18.02│ 21.36│ 123.52
December │ 20.66│10.62│ 19.22│11.11│ 21.06│ 18.04│ 21.31│ 122.05
│ │ │ │ │ │ │ │
1913— January │ 19.88│10.91│ 17.92│11.07│ 21.01│ 17.94│ 22.08│ 120.83
February │ 19.56│11.52│ 16.65│10.87│ 20.83│ 17.85│ 22.42│ 119.72
March │ 19.59│13.04│ 16.14│10.73│ 21.14│ 17.37│ 22.42│ 120.46
April │ 19.96│13.47│ 15.31│10.16│ 20.93│ 16.92│ 22.42│ 119.21
May │ 20.67│13.18│ 15.11│10.12│ 20.80│ 16.75│ 21.67│ 118.32
June │ 21.27│12.96│ 16.52│10.25│ 20.70│ 16.76│ 21.57│ 120.05
July │ 21.19│13.09│ 13.03│10.21│ 20.53│ 16.51│ 21.73│ 116.31
August │ 21.63│13.08│ 14.91│10.26│ 20.25│ 16.52│ 21.84│ 118.51
September│ 22.97│12.78│ 16.60│10.57│ 20.50│ 16.74│ 21.86│ 122.05
October │ 22.58│13.05│ 17.93│10.70│ 20.94│ 16.76│ 21.92│ 123.90
November │ 22.61│12.21│ 19.97│11.06│ 21.07│ 16.75│ 21.80│ 125.50
December │ 23.00│12.05│ 20.45│11.01│ 20.81│ 16.59│ 21.79│ 125.73
│ │ │ │ │ │ │ │
1914— January │ 21.96│12.15│ 20.08│10.95│ 20.66│ 16.17│ 22.54│ 124.52
February │ 20.96│12.62│ 18.05│11.00│ 20.24│ 16.18│ 22.57│ 121.64
March │ 22.14│13.16│ 16.00│11.36│ 20.43│ 15.88│ 22.77│ 121.77
April │ 21.40│12.86│ 15.87│10.68│ 20.64│ 15.78│ 22.54│ 119.79
May │ 21.54│12.81│ 16.43│10.46│ 19.96│ 15.55│ 21.44│ 118.23
June │ 23.16│13.06│ 16.11│10.61│ 20.68│ 15.69│ 21.76│ 121.09
July │ 21.08│12.97│ 17.24│10.44│ 20.83│ 15.69│ 21.42│ 119.70
August │ 22.56│13.42│ 16.20│10.28│ 20.97│ 15.76│ 21.52│ 120.74
September│ 26.25│12.83│ 17.43│11.72│ 20.39│ 16.12│ 22.19│ 126.97
October │ 24.44│12.09│ 17.32│11.42│ 20.25│ 15.97│ 22.01│ 123.53
November │ 25.30│11.90│ 18.58│10.88│ 19.97│ 15.84│ 21.84│ 124.34
December │ 24.42│11.32│ 19.82│10.54│ 19.88│ 16.13│ 22.04│ 124.18
│ │ │ │ │ │ │ │
1915— January │ 25.89│10.70│ 19.28│10.60│ 19.72│ 16.16│ 21.79│ 124.16
February │ 29.05│10.60│ 17.46│10.47│ 20.11│ 16.29│ 21.65│ 125.66
March │ 28.60│10.73│ 15.58│10.82│ 20.22│ 16.34│ 21.85│ 124.15
April │ 28.86│11.07│ 15.58│10.76│ 20.48│ 15.94│ 22.38│ 125.09
May │ 29.80│11.66│ 15.46│10.70│ 20.78│ 15.83│ 22.38│ 126.64
June │ 28.35│12.51│ 15.13│10.59│ 20.74│ 16.13│ 22.50│ 125.99
July │ 26.46│12.13│ 15.56│10.72│ 20.90│ 16.60│ 22.56│ 124.95
August │ 25.99│11.38│ 16.03│10.97│ 21.40│ 16.61│ 22.67│ 125.07
September│ 24.97│11.44│ 16.25│10.85│ 21.46│ 16.95│ 22.74│ 124.68
October │ 23.54│11.46│ 18.76│10.71│ 21.92│ 17.06│ 23.17│ 126.66
November │ 24.02│11.39│ 20.61│10.95│ 22.32│ 17.27│ 23.87│ 130.46
December │ 25.16│10.55│ 20.97│11.22│ 22.80│ 18.32│ 24.10│ 133.14
│ │ │ │ │ │ │ │
1916— January │ 27.31│11.49│ 20.50│11.21│ 23.42│ 18.89│ 24.82│ 137.66
February │ 28.78│12.23│ 20.40│11.40│ 23.60│ 19.81│ 26.02│ 142.26
March │ 26.27│13.22│ 20.81│11.52│ 23.78│ 20.38│ 26.10│ 142.11
April │ 26.70│14.16│ 21.25│11.93│ 24.94│ 20.64│ 26.04│ 145.69
May │ 26.77│14.61│ 20.63│12.07│ 25.13│ 20.88│ 26.08│ 146.19
June │ 25.63│15.04│ 19.26│12.23│ 25.39│ 21.65│ 26.17│ 145.39
July │ 26.37│14.40│ 19.43│12.15│ 25.80│ 21.17│ 25.79│ 145.14
August │ 28.66│13.65│ 17.36│12.01│ 25.89│ 21.05│ 25.27│ 143.93
September│ 31.06│14.69│ 21.54│11.96│ 26.51│ 21.22│ 25.02│ 152.01
October │ 31.82│13.69│ 20.70│12.61│ 26.82│ 21.32│ 25.37│ 152.35
November │ 36.77│14.23│ 24.27│13.02│ 29.09│ 21.79│ 25.63│ 164.84
December │ 36.09│14.24│ 25.40│12.92│ 30.23│ 23.39│ 25.80│ 168.09
│ │ │ │ │ │ │ │
1917— January │ 36.15│15.02│ 25.16│12.92│ 30.08│ 24.45│ 25.76│ 169.56
February │ 37.86│16.12│ 27.37│12.98│ 30.38│ 25.02│ 26.51│ 176.27
March │ 40.95│17.03│ 31.50│13.16│ 30.38│ 25.97│ 27.21│ 186.24
April │ 43.81│18.89│ 29.30│13.28│ 30.67│ 26.68│ 27.35│ 190.01
May │ 55.36│19.38│ 30.72│13.71│ 32.08│ 28.44│ 28.72│ 208.43
June │ 53.50│19.81│ 33.60│13.86│ 33.02│ 29.88│ 28.88│ 212.58
July │ 53.91│18.82│ 26.44│14.22│ 36.52│ 32.39│ 29.61│ 211.95
August │ 64.07│17.74│ 21.24│15.21│ 36.91│ 32.57│ 31.01│ 218.77
September│ 54.68│19.35│ 22.75│15.55│ 38.61│ 32.65│ 31.39│ 215.01
October │ 55.51│19.12│ 25.80│16.08│ 39.43│ 31.15│ 32.55│ 219.67
November │ 55.68│18.16│ 25.88│18.72│ 40.44│ 29.84│ 32.00│ 220.75
December │ 53.99│19.00│ 27.02│18.76│ 40.74│ 28.41│ 32.22│ 220.17
│ │ │ │ │ │ │ │
1918— January │ 54.27│19.29│ 27.41│18.74│ 40.88│ 29.27│ 32.29│ 222.17
February │ 54.00│20.57│ 28.76│18.84│ 42.38│ 29.58│ 32.85│ 227.02
March │ 55.49│20.91│ 27.12│19.19│ 42.21│ 29.91│ 33.11│ 227.97
April │ 57.03│22.24│ 24.15│20.32│ 43.32│ 29.50│ 33.72│ 230.31
May │ 51.32│22.46│ 23.70│21.41│ 43.45│ 29.88│ 34.42│ 226.66
June │ 48.36│22.36│ 23.82│21.09│ 44.70│ 29.93│ 34.55│ 224.84
July │ 51.42│23.71│ 24.75│21.92│ 45.23│ 30.17│ 35.34│ 232.57
August │ 51.62│23.08│ 24.68│22.30│ 44.28│ 30.34│ 35.73│ 232.05
September│ 50.31│23.66│ 25.00│22.49│ 44.73│ 30.60│ 36.05│ 232.88
October │ 49.19│22.90│ 26.43│23.01│ 44.53│ 30.67│ 36.47│ 233.22
November │ 47.47│21.93│ 27.33│23.36│ 43.67│ 30.55│ 36.20│ 230.52
December │ 47.94│21.55│ 27.63│23.40│ 43.15│ 30.39│ 36.28│ 230.37
│ │ │ │ │ │ │ │
1919— January │ 48.59│22.19│ 27.13│23.96│ 43.19│ 28.76│ 36.29│ 230.14
February │ 44.99│21.53│ 24.70│23.40│ 42.24│ 28.58│ 34.58│ 220.05
March │ 44.63│22.02│ 22.93│23.84│ 40.46│ 28.21│ 34.91│ 217.03
April │ 49.03│22.89│ 24.44│23.82│ 39.17│ 25.63│ 34.96│ 219.97
May │ 48.87│24.36│ 26.12│22.72│ 39.56│ 25.79│ 34.75│ 222.19
June │ 51.23│24.71│ 26.90│22.80│ 41.79│ 25.55│ 34.95│ 227.97
July │ 51.72│25.66│ 26.16│23.34│ 45.62│ 25.75│ 35.43│ 233.70
August │ 54.75│25.10│ 26.87│23.69│ 48.55│ 26.60│ 36.05│ 241.65
September│ 53.23│23.79│ 26.29│23.47│ 47.92│ 26.53│ 37.09│ 238.34
October │ 48.00│20.08│ 27.98│23.38│ 49.85│ 26.57│ 39.97│ 235.86
November │ 47.52│19.14│ 28.73│24.15│ 51.40│ 26.71│ 40.89│ 238.57
December │ 48.28│20.00│ 30.09│24.63│ 52.28│ 27.72│ 41.61│ 244.63
│ │ │ │ │ │ │ │
1920— January │ 48.94│19.96│ 29.08│24.94│ 52.78│ 28.96│ 42.73│ 247.39
February │ 50.63│20.94│ 28.84│25.45│ 54.42│ 29.76│ 43.72│ 253.75
───────────────┴───────────┴─────┴──────┴─────┴────────┴──────┴───────────┴───────
NOTE—Breadstuffs include quotations of wheat, corn, oats, rye and
barley, besides beans and peas; meats include live hogs, beef, sheep and
various provisions, lard, tallow, etc.; dairy and garden include butter,
eggs, vegetables and fruits; other foods include fish, liquors,
condiments, sugar, rice, tobacco, etc.; clothing includes the raw
material of each industry, and many quotations of woolen, cotton and
other textile goods, as well as hides and leather; metals include
various quotations of pig iron, and partially manufactured and finished
produces, as well as minor metals, coal and petroleum. The miscellaneous
class embraces many grades of hard and soft lumber, lath, brick, lime,
glass, turpentine, hemp, linseed oil, paints, fertilizers and drugs.
AVERAGE HOG PRICES AT CHICAGO.
(This includes heavy hogs, light hogs and pigs.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 6.40│$ 4.90│$ 4.65│$ 5.40│$ 6.60│$ 4.40│ $6.10│$ 8.55│$ 7.95│$ 6.25
Feb. │ 6.75│ 5.15│ 4.85│ 6.00│ 7.05│ 4.45│ 6.35│ 9.05│ 7.40│ 6.20
Mar. │ 7.30│ 5.35│ 5.15│ 6.30│ 6.65│ 5.00│ 6.70│ 10.55│ 6.85│ 7.10
Apr. │ 7.20│ 5.10│ 5.45│ 6.55│ 6.65│ 5.85│ 7.20│ 9.90│ 6.25│ 7.80
May │ 6.45│ 4.65│ 5.40│ 6.45│ 6.40│ 5.50│ 7.30│ 9.55│ 6.00│ 7.65
June │ 6.00│ 5.05│ 5.35│ 6.55│ 6.10│ 5.80│ 7.65│ 9.45│ 6.25│ 7.50
July │ 5.55│ 5.40│ 5.65│ 6.65│ 6.05│ 6.50│ 7.85│ 8.75│ 6.70│ 7.65
Aug. │ 5.45│ 5.30│ 5.95│ 6.25│ 6.00│ 6.55│ 7.75│ 8.35│ 7.30│ 8.25
Sep. │ 5.85│ 5.75│ 5.50│ 6.25│ 6.00│ 6.85│ 8.20│ 8.90│ 6.90│ 8.45
Oct. │ 5.55│ 5.40│ 5.25│ 6.40│ 6.15│ 5.95│ 7.75│ 8.50│ 6.45│ 8.75
Nov. │ 4.65│ 4.80│ 4.85│ 6.20│ 4.90│ 5.80│ 8.00│ 7.60│ 6.30│ 7.75
Dec. │ 4.55│ 4.50│ 4.90│ 6.25│ 4.70│ 5.65│ 8.35│ 7.65│ 6.40│ 7.40
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Av.[10] │ 6.00│ 5.15│ 5.25│ 6.25│ 6.10│ 5.70│ 7.35│ 8.90│ 6.70│ 7.55
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ $7.45│$ 8.30│$ 6.90│$ 7.20│$10.90│$16.30│$17.60│ │ │
Feb. │ 8.15│ 8.60│ 6.80│ 8.20│ 12.45│ 16.65│ 17.65│ │ │
Mar. │ 8.90│ 8.70│ 6.75│ 9.65│ 14.80│ 17.10│ 19.10│ │ │
Apr. │ 9.05│ 8.65│ 7.30│ 9.75│ 15.75│ 17.45│ 20.40│ │ │
May │ 8.55│ 8.45│ 7.60│ 9.85│ 15.90│ 17.45│ 20.60│ │ │
June │ 8.65│ 8.20│ 7.60│ 9.70│ 15.50│ 16.60│ 20.40│ │ │
July │ 9.05│ 8.70│ 7.25│ 9.80│ 15.20│ 17.75│ 21.85│ │ │
Aug. │ 8.35│ 9.00│ 6.90│ 10.30│ 16.90│ 19.00│ 20.00│ │ │
Sep. │ 8.30│ 8.85│ 7.25│ 10.70│ 18.20│ 19.65│ 17.45│ │ │
Oct. │ 8.20│ 7.65│ 7.90│ 9.80│ 17.15│ 17.70│ 14.35│ │ │
Nov. │ 7.75│ 7.50│ 6.65│ 9.60│ 17.40│ 17.70│ 14.20│ │ │
Dec. │ 7.70│ 7.10│ 6.40│ 9.95│ 16.85│ 17.55│ 13.60│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Av.[10] │ 8.35│ 8.30│ 7.10│ 9.00│ 15.10│ 17.45│ 17.85│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE HOG PRICES AT SIOUX CITY.
═══════════╤══════╤══════╤══════╤══════╤══════╤══════
│1917. │1918. │1919. │1920. │1921. │1922.
───────────┼──────┼──────┼──────┼──────┼──────┼──────
January │$10.53│$16.17│$17.03│ │ │
February │ 12.03│ 16.20│ 17.15│ │ │
March │ 14.20│ 16.61│ 18.43│ │ │
April │ 15.38│ 16.86│ 20.08│ │ │
May │ 15.56│ 16.89│ 20.23│ │ │
June │ 15.12│ 16.35│ 20.11│ │ │
July │ 14.81│ 17.29│ 21.23│ │ │
August │ 16.61│ 18.50│ 19.35│ │ │
September │ 17.82│ 18.25│ 16.32│ │ │
October │ 17.24│ 17.77│ 13.76│ │ │
November │ 17.10│ 17.33│ 13.77│ │ │
December │ 16.63│ 17.15│ 13.33│ │ │
───────────┼──────┼──────┼──────┼──────┼──────┼──────
Average[11]│ 15.25│ 17.11│ 17.57│ │ │
───────────┴──────┴──────┴──────┴──────┴──────┴──────
CHICAGO AVERAGE PRICES OF LIGHT HOGS.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 6.20│ 4.80│ 4.50│ 5.35│ 6.55│ 4.35│ 5.95│ 8.45│ 8.00│ 6.05
February │ 6.50│ 4.95│ 4.75│ 5.95│ 7.05│ 4.35│ 6.25│ 8.85│ 7.55│ 6.10
March │ 7.10│ 5.25│ 5.10│ 6.30│ 6.65│ 4.95│ 6.60│ 10.40│ 7.00│ 7.05
April │ 7.05│ 5.05│ 5.40│ 6.50│ 6.65│ 5.80│ 7.15│ 9.70│ 6.45│ 7.70
May │ 6.30│ 4.60│ 5.40│ 6.45│ 6.40│ 5.45│ 7.10│ 9.60│ 6.10│ 7.50
June │ 5.95│ 5.05│ 5.35│ 6.55│ 6.10│ 5.75│ 7.50│ 9.65│ 6.30│ 7.35
July │ 5.70│ 5.45│ 5.70│ 6.70│ 6.05│ 6.40│ 7.85│ 8.90│ 6.80│ 7.65
August │ 5.70│ 5.45│ 6.05│ 6.35│ 6.00│ 6.45│ 7.95│ 8.55│ 7.40│ 8.35
September│ 6.05│ 5.85│ 5.55│ 6.40│ 6.00│ 6.70│ 8.25│ 8.10│ 7.05│ 8.65
October │ 5.70│ 5.40│ 5.35│ 6.35│ 6.15│ 5.75│ 7.65│ 8.70│ 6.30│ 8.60
November │ 4.70│ 4.70│ 4.85│ 6.20│ 4.95│ 5.55│ 7.85│ 7.65│ 6.00│ 7.70
December │ 4.40│ 4.40│ 4.90│ 5.20│ 4.65│ 5.45│ 8.20│ 7.65│ 5.85│ 7.30
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 7.45│ 8.25│ 6.90│ 7.15│ 10.70│ 16.20│ 17.45│ │ │
February │ 8.20│ 8.60│ 6.85│ 8.05│ 12.25│ 16.60│ 17.45│ │ │
March │ 9.00│ 8.75│ 6.75│ 9.50│ 14.60│ 17.25│ 19.15│ │ │
April │ 9.10│ 8.70│ 7.35│ 9.60│ 15.50│ 17.60│ 20.40│ │ │
May │ 8.60│ 8.50│ 7.65│ 9.70│ 15.60│ 17.60│ 20.70│ │ │
June │ 8.70│ 8.20│ 7.70│ 9.60│ 15.35│ 16.75│ 20.60│ │ │
July │ 9.10│ 8.70│ 7.55│ 9.80│ 15.00│ 17.70│ 22.10│ │ │
August │ 8.80│ 9.20│ 7.40│ 10.50│ 16.70│ 19.25│ 20.50│ │ │
September│ 8.75│ 9.05│ 7.55│ 10.80│ 18.15│ 19.90│ 17.90│ │ │
October │ 8.35│ 7.65│ 7.85│ 9.70│ 16.85│ 17.90│ 14.50│ │ │
November │ 7.60│ 7.35│ 6.50│ 9.20│ 17.10│ 17.55│ 14.35│ │ │
December │ 7.60│ 7.00│ 6.25│ 9.65│ 16.55│ 17.35│ 13.75│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF PIGS AT CHICAGO.
═══════════════════════════════════════════════════════════════════════════════
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 5.90│$ 4.30│$ 4.15│$ 5.00│$ 6.15│$ 4.00│$ 5.15│$ 7.95│$ 7.75│$ 5.25
Feb. │ 6.20│ 4.45│ 4.30│ 5.50│ 6.55│ 4.10│ 5.50│ 8.40│ 7.30│ 5.40
Mar. │ 6.60│ 4.75│ 4.65│ 5.90│ 6.20│ 4.60│ 5.90│ 9.90│ 6.75│ 6.25
Apr. │ 6.70│ 4.55│ 5.00│ 6.10│ 6.25│ 5.20│ 6.20│ 9.85│ 6.25│ 6.50
May │ 6.00│ 4.25│ 5.05│ 6.05│ 6.05│ 4.80│ 6.30│ 9.30│ 5.80│ 6.35
June │ 5.85│ 4.65│ 4.90│ 6.15│ 6.75│ 5.00│ 6.75│ 9.35│ 5.95│ 6.25
July │ 5.85│ 5.20│ 5.40│ 6.40│ 5.80│ 5.40│ 7.15│ 8.90│ 6.00│ 6.80
Aug. │ 5.80│ 5.30│ 5.80│ 6.10│ 5.80│ 5.30│ 7.40│ 8.90│ 5.90│ 7.20
Sep. │ 5.55│ 5.40│ 5.15│ 6.10│ 5.85│ 5.50│ 7.50│ 9.00│ 5.70│ 7.00
Oct. │ 5.25│ 5.00│ 4.90│ 6.15│ 6.10│ 4.70│ 6.80│ 8.55│ 5.15│ 7.20
Nov. │ 4.50│ 4.40│ 4.65│ 6.05│ 4.60│ 4.50│ 7.05│ 7.40│ 4.90│ 6.30
Dec. │ 4.20│ 4.10│ 4.70│ 6.00│ 4.30│ 4.40│ 7.50│ 7.35│ 5.10│ 6.35
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 6.70│$ 7.60│$ 6.35│$ 6.50│$ 9.75│$14.30│$14.35│ │ │
Feb. │ 7.55│ 8.20│ 6.45│ 7.25│ 10.90│ 14.60│ 15.40│ │ │
Mar. │ 8.30│ 8.10│ 6.20│ 8.35│ 12.40│ 15.50│ 16.80│ │ │
Apr. │ 8.10│ 8.10│ 6.50│ 8.40│ 12.90│ 16.15│ 17.50│ │ │
May │ 7.75│ 8.00│ 6.85│ 8.75│ 13.40│ 16.65│ 17.85│ │ │
June │ 7.90│ 7.70│ 6.90│ 8.35│ 13.70│ 16.30│ 17.50│ │ │
July │ 8.35│ 8.20│ 7.10│ 9.25│ 13.85│ 17.00│ 19.75│ │ │
Aug. │ 7.00│ 8.25│ 7.35│ 9.40│ 14.50│ 18.10│ 17.50│ │ │
Sep. │ 6.65│ 7.90│ 7.25│ 9.00│ 16.25│ 18.25│ 16.25│ │ │
Oct. │ 6.50│ 7.05│ 7.10│ 8.65│ 14.40│ 14.75│ 13.40│ │ │
Nov. │ 6.45│ 6.00│ 5.75│ 8.15│ 16.30│ 14.00│ 13.20│ │ │
Dec. │ 6.90│ 5.85│ 5.65│ 8.75│ 14.35│ 13.75│ 12.50│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CHICAGO TOP HOG PRICES.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.10│$ 5.20│$ 5.00│$ 5.72│$ 7.05│$ 4.72│$ 6.70│$ 9.05│$ 8.30│$ 6.70
Feb. │ 7.55│ 5.80│ 5.12│ 6.42│ 7.25│ 4.70│ 6.95│ 10.00│ 7.90│ 6.57
Mar. │ 7.87│ 5.82│ 5.55│ 6.55│ 7.10│ 6.35│ 7.15│ 11.20│ 7.35│ 7.95
Apr. │ 7.65│ 5.50│ 5.72│ 6.82│ 6.90│ 6.45│ 7.60│ 11.00│ 6.90│ 8.20
May │ 7.15│ 4.95│ 5.65│ 6.67│ 6.65│ 5.90│ 7.55│ 9.85│ 6.50│ 8.05
June │ 6.45│ 5.45│ 5.70│ 6.85│ 6.42│ 6.67│ 8.20│ 9.80│ 6.72│ 7.80
July │ 6.10│ 5.90│ 6.17│ 7.00│ 6.65│ 7.10│ 8.45│ 9.60│ 7.55│ 8.50
Aug. │ 6.20│ 5.80│ 6.45│ 6.75│ 6.72│ 7.10│ 8.32│ 9.70│ 7.95│ 9.00
Sep. │ 6.45│ 6.37│ 6.20│ 6.82│ 7.00│ 7.60│ 8.60│ 10.10│ 7.80│ 9.27
Oct. │ 6.50│ 6.30│ 5.80│ 6.85│ 7.00│ 7.20│ 8.40│ 9.65│ 6.90│ 9.42
Nov. │ 5.50│ 5.25│ 5.25│ 6.50│ 6.32│ 6.40│ 8.45│ 8.70│ 6.72│ 8.30
Dec. │ 4.90│ 4.87│ 5.35│ 6.55│ 5.30│ 6.15│ 8.75│ 8.10│ 6.60│ 7.85
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 6.62│ 5.60│ 5.66│ 6.62│ 6.70│ 6.36│ 7.93│ 9.73│ 7.27│ 8.14
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.80│$ 8.60│$ 7.40│$ 8.10│$12.00│$16.90│$18.00│ │ │
Feb. │ 8.70│ 8.90│ 7.25│ 8.90│ 13.55│ 17.70│ 18.15│ │ │
Mar. │ 9.62│ 9.00│ 7.05│ 10.10│ 15.55│ 18.15│ 19.95│ │ │
Apr. │ 9.70│ 8.95│ 7.90│ 10.10│ 16.50│ 18.10│ 21.15│ │ │
May │ 8.85│ 8.67│ 7.95│ 10.35│ 16.65│ 18.30│ 21.55│ │ │
June │ 9.00│ 8.52│ 7.95│ 10.15│ 16.17│ 17.35│ 21.60│ │ │
July │ 9.62│ 9.30│ 8.12│ 10.25│ 16.30│ 19.40│ 23.60│ │ │
Aug. │ 9.40│ 10.20│ 8.05│ 11.55│ 20.00│ 20.30│ 23.50│ │ │
Sep. │ 9.65│ 9.75│ 8.50│ 11.60│ 19.70│ 20.95│ 21.00│ │ │
Oct. │ 9.10│ 9.05│ 8.95│ 10.55│ 19.65│ 19.95│ 17.20│ │ │
Nov. │ 8.30│ 8.25│ 7.75│ 10.35│ 18.10│ 18.60│ 15.50│ │ │
Dec. │ 8.15│ 7.75│ 7.10│ 10.80│ 17.75│ 18.00│ 14.60│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 8.98│ 8.91│ 7.83│ 10.23│ 16.82│ 18.64│ 19.63│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
ST. LOUIS TOP HOG PRICES.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.00│$ 5.25│$ 5.02│$ 5.75│$ 6.87│$ 4.90│$ 6.75│$ 9.00│$ 8.27│$ 6.50
Feb. │ 7.50│ 5.80│ 5.20│ 6.40│ 7.20│ 4.62│ 7.00│ 9.75│ 8.05│ 6.55
Mar. │ 7.75│ 5.75│ 5.50│ 6.52│ 7.15│ 6.20│ 7.15│ 11.07│ 7.60│ 8.05
Apr. │ 7.75│ 5.75│ 5.70│ 6.75│ 6.85│ 6.40│ 7.60│ 11.15│ 7.20│ 8.15
May │ 7.20│ 4.90│ 5.60│ 6.62│ 6.65│ 5.90│ 7.60│ 9.80│ 6.40│ 8.10
June │ 6.25│ 5.50│ 5.42│ 6.80│ 6.40│ 6.30│ 8.35│ 9.75│ 6.70│ 7.80
July │ 6.10│ 5.75│ 6.10│ 7.00│ 6.45│ 7.00│ 8.50│ 9.70│ 7.35│ 8.35
Aug. │ 6.20│ 5.72│ 6.35│ 6.75│ 6.80│ 7.10│ 8.25│ 9.45│ 7.92│ 9.05
Sep. │ 6.35│ 6.25│ 6.35│ 6.75│ 6.85│ 7.50│ 8.02│ 10.10│ 7.85│ 9.30
Oct. │ 6.25│ 6.30│ 5.60│ 6.80│ 7.00│ 7.20│ 8.50│ 9.45│ 6.90│ 9.32
Nov. │ 5.25│ 5.25│ 5.15│ 6.50│ 6.35│ 6.25│ 8.25│ 8.90│ 6.70│ 8.35
Dec. │ 4.87│ 4.85│ 5.30│ 6.50│ 5.30│ 6.25│ 8.70│ 8.10│ 6.65│ 7.92
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 6.58│ 5.50│ 5.60│ 6.59│ 6.65│ 6.30│ 7.90│ 9.68│ 7.29│ 8.12
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.70│$ 8.65│$ 7.45│$ 8.10│$12.00│$16.95│$18.20│ │ │
Feb. │ 8.60│ 9.00│ 7.25│ 8.70│ 13.00│ 17.60│ 18.35│ │ │
Mar. │ 9.40│ 9.00│ 7.45│ 10.15│ 15.50│ 18.30│ 20.05│ │ │
Apr. │ 9.55│ 9.00│ 7.85│ 10.05│ 16.40│ 18.15│ 21.15│ │ │
May │ 8.85│ 8.80│ 7.95│ 10.25│ 16.55│ 18.10│ 21.20│ │ │
June │ 9.00│ 8.55│ 7.90│ 10.05│ 16.15│ 17.35│ 21.75│ │ │
July │ 9.55│ 9.32│ 8.25│ 10.25│ 16.00│ 19.15│ 23.50│ │ │
Aug. │ 9.40│ 10.00│ 8.00│ 11.30│ 19.80│ 20.25│ 23.55│ │ │
Sep. │ 9.50│ 9.60│ 8.40│ 11.50│ 19.65│ 20.75│ 20.50│ │ │
Oct. │ 9.05│ 9.00│ 8.90│ 10.50│ 19.75│ 20.05│ 17.70│ │ │
Nov. │ 8.30│ 8.00│ 7.70│ 10.40│ 18.05│ 18.60│ 15.60│ │ │
Dec. │ 8.15│ 7.65│ 7.10│ 10.80│ 17.85│ 18.20│ 14.85│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 8.92│ 8.87│ 7.85│ 10.17│ 16.72│ 18.62│ 19.70│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
OMAHA TOP HOG PRICES.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 6.85│ $5.00│$ 4.85│$ 5.50│$ 6.95│$ 4.50│$ 6.25│$ 8.70│$ 8.10│$ 6.40
Feb. │ 7.20│ 5.60│ 5.00│ 6.20│ 7.05│ 4.42│ 6.60│ 9.55│ 7.57│ 6.37
Mar. │ 7.55│ 5.40│ 5.25│ 6.37│ 6.90│ 5.92│ 6.95│ 10.85│ 7.10│ 7.77
Apr. │ 7.40│ 5.17│ 5.40│ 6.55│ 6.50│ 5.95│ 7.30│ 10.80│ 6.55│ 7.90
May │ 6.95│ 4.77│ 5.37│ 6.45│ 6.50│ 5.50│ 7.45│ 9.57│ 6.10│ 7.82
June │ 6.25│ 5.27│ 5.35│ 6.60│ 6.20│ 6.10│ 7.85│ 9.55│ 6.45│ 7.60
July │ 5.65│ 5.35│ 5.70│ 6.75│ 6.30│ 6.60│ 8.05│ 9.20│ 7.00│ 8.00
Aug. │ 5.80│ 5.40│ 6.10│ 6.45│ 6.25│ 6.70│ 8.05│ 9.35│ 7.65│ 8.65
Sep. │ 6.00│ 6.05│ 5.75│ 6.45│ 6.35│ 7.05│ 8.30│ 9.60│ 7.40│ 8.80
Oct. │ 5.85│ 5.85│ 5.37│ 6.45│ 6.50│ 6.85│ 8.00│ 9.05│ 6.50│ 9.00
Nov. │ 5.25│ 5.00│ 5.00│ 6.27│ 5.75│ 6.05│ 8.20│ 8.65│ 6.50│ 8.00
Dec. │ 4.75│ 4.65│ 5.20│ 6.35│ 4.80│ 6.00│ 8.50│ 7.90│ 6.22│ 7.75
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 6.29│ 5.29│ 5.36│ 6.37│ 6.34│ 5.97│ 7.62│ 9.40│ 6.93│ 7.84
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.45│$ 8.45│$ 7.35│$ 7.80│$11.70│$16.75│$17.65│ │ │
Feb. │ 8.25│ 8.60│ 6.95│ 8.55│ 13.30│ 17.30│ 17.75│ │ │
Mar. │ 8.95│ 8.70│ 6.82│ 9.65│ 15.05│ 17.35│ 19.50│ │ │
Apr. │ 9.05│ 8.72│ 7.50│ 9.00│ 16.20│ 17.45│ 20.85│ │ │
May │ 8.65│ 8.40│ 7.60│ 9.90│ 16.20│ 17.50│ 20.80│ │ │
June │ 8.67│ 8.32│ 7.60│ 9.80│ 15.75│ 16.85│ 21.10│ │ │
July │ 9.15│ 8.95│ 7.65│ 10.00│ 15.65│ 18.85│ 22.85│ │ │
Aug. │ 8.05│ 9.35│ 7.60│ 10.85│ 19.60│ 19.65│ 22.75│ │ │
Sep. │ 8.75│ 8.90│ 8.15│ 11.10│ 19.45│ 20.40│ 19.25│ │ │
Oct. │ 8.55│ 8.25│ 8.60│ 10.15│ 19.50│ 19.40│ 16.65│ │ │
Nov. │ 7.85│ 8.05│ 7.35│ 10.15│ 17.90│ 18.15│ 15.35│ │ │
Dec. │ 7.80│ 7.25│ 6.65│ 10.35│ 17.50│ 17.70│ 14.75│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 8.43│ 8.50│ 7.48│ 9.77│ 16.48│ 18.11│ 19.10│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
KANSAS CITY TOP HOG PRICES.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 6.97│$ 5.15│$ 5.00│$ 5.60│$ 7.00│$ 4.65│ $6.45│$ 8.75│$ 8.10│$ 6.45
Feb. │ 7.25│ 5.60│ 5.12│ 6.25│ 7.15│ 4.58│ 6.60│ 9.60│ 7.75│ 6.40
Mar. │ 7.60│ 5.52│ 5.37│ 6.42│ 7.05│ 6.25│ 6.95│ 10.95│ 7.15│ 7.90
Apr. │ 7.50│ 5.35│ 5.52│ 6.60│ 6.67│ 6.20│ 7.35│ 10.80│ 6.70│ 8.05
May │ 7.00│ 4.87│ 5.50│ 6.50│ 6.52│ 5.67│ 7.50│ 9.67│ 6.20│ 7.95
June │ 6.07│ 5.32│ 5.50│ 6.67│ 6.30│ 6.20│ 7.95│ 9.65│ 6.50│ 7.80
July │ 5.85│ 5.70│ 5.87│ 6.87│ 6.40│ 6.95│ 8.12│ 9.35│ 7.10│ 8.20
Aug. │ 6.15│ 5.50│ 6.25│ 6.40│ 6.32│ 6.95│ 8.05│ 9.55│ 7.70│ 8.82
Sep. │ 6.20│ 6.07│ 5.92│ 6.60│ 6.50│ 7.20│ 8.37│ 9.85│ 7.50│ 8.90
Oct. │ 6.17│ 5.97│ 5.40│ 6.57│ 6.60│ 6.85│ 8.17│ 9.35│ 6.60│ 9.05
Nov. │ 5.35│ 5.25│ 5.00│ 6.37│ 5.90│ 6.20│ 8.27│ 8.60│ 6.62│ 8.00
Dec. │ 4.80│ 4.70│ 5.17│ 6.45│ 5.02│ 5.97│ 8.60│ 7.90│ 6.40│ 7.90
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 6.41│ 5.42│ 5.47│ 6.44│ 6.45│ 6.14│ 7.70│ 9.50│ 7.03│ 7.95
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.57│$ 8.50│$ 7.35│$ 8.00│$11.90│$16.95│$17.70│ │ │
Feb. │ 8.50│ 8.75│ 7.02│ 8.67│ 13.45│ 17.75│ 18.00│ │ │
Mar. │ 9.20│ 8.80│ 7.05│ 9.80│ 15.35│ 17.50│ 19.80│ │ │
Apr. │ 9.25│ 8.80│ 7.65│ 9.90│ 16.30│ 17.75│ 21.00│ │ │
May │ 8.77│ 8.50│ 7.80│ 10.05│ 16.45│ 17.70│ 21.10│ │ │
June │ 8.80│ 8.45│ 7.85│ 10.00│ 15.90│ 17.00│ 21.35│ │ │
July │ 9.25│ 9.15│ 7.80│ 10.10│ 16.10│ 19.15│ 23.40│ │ │
Aug. │ 8.95│ 9.75│ 7.70│ 11.10│ 20.00│ 20.15│ 23.20│ │ │
Sep. │ 9.10│ 9.45│ 8.25│ 11.15│ 19.45│ 20.65│ 20.10│ │ │
Oct. │ 8.60│ 8.37│ 8.60│ 10.40│ 19.65│ 18.45│ 16.70│ │ │
Nov. │ 8.00│ 8.10│ 7.50│ 10.15│ 17.85│ 18.25│ 15.60│ │ │
Dec. │ 7.95│ 7.40│ 6.82│ 10.60│ 17.70│ 17.75│ 15.00│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 8.66│ 8.67│ 7.62│ 9.91│ 16.67│ 17.42│ 19.41│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF NATIVE BEEF CATTLE (900 to 1,900 POUNDS) AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 4.80│$ 4.65│$ 4.65│$ 5.00│$ 5.60│$ 5.30│$ 6.00│$ 6.20│$ 6.15│$ 6.85
Feb. │ 4.60│ 4.50│ 4.75│ 5.05│ 5.55│ 5.40│ 5.85│ 6.35│ 6.15│ 6.60
Mar. │ 4.75│ 4.60│ 5.00│ 5.15│ 5.55│ 6.00│ 6.10│ 7.35│ 6.20│ 7.20
Apr. │ 4.90│ 4.65│ 5.75│ 5.05│ 5.65│ 6.50│ 6.10│ 7.55│ 6.10│ 7.65
May │ 4.80│ 4.85│ 5.45│ 5.20│ 5.65│ 6.60│ 6.45│ 7.50│ 5.95│ 7.95
June │ 4.90│ 5.60│ 5.25│ 5.20│ 6.20│ 6.90│ 6.45│ 7.50│ 6.05│ 8.00
July │ 4.95│ 5.40│ 4.95│ 5.40│ 6.40│ 6.45│ 6.45│ 7.10│ 6.30│ 7.90
Aug. │ 5.00│ 5.10│ 5.00│ 5.45│ 6.25│ 6.00│ 6.70│ 6.85│ 6.95│ 8.50
Sep. │ 4.95│ 5.10│ 5.05│ 5.50│ 6.10│ 5.95│ 6.75│ 6.80│ 6.80│ 8.15
Oct. │ 4.70│ 5.20│ 4.80│ 5.60│ 6.10│ 5.70│ 6.60│ 6.60│ 6.75│ 7.90
Nov. │ 4.45│ 4.95│ 4.65│ 5.60│ 5.40│ 5.90│ 6.45│ 6.20│ 6.70│ 8.10
Dec. │ 4.55│ 4.40│ 4.75│ 5.50│ 5.10│ 6.00│ 6.20│ 6.00│ 6.65│ 7.85
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.80│$ 8.45│$ 8.05│$ 8.35│$10.15│$12.10│$15.80│ │ │
Feb. │ 8.25│ 8.30│ 7.50│ 8.35│ 10.50│ 12.00│ 15.95│ │ │
Mar. │ 8.30│ 8.35│ 7.65│ 8.75│ 11.25│ 12.60│ 16.05│ │ │
Apr. │ 8.15│ 8.50│ 7.70│ 9.10│ 11.75│ 14.70│ 15.85│ │ │
May │ 8.00│ 8.40│ 8.35│ 9.50│ 11.90│ 15.40│ 15.00│ │ │
June │ 8.15│ 8.60│ 8.80│ 9.85│ 12.15│ 15.85│ 13.55│ │ │
July │ 8.25│ 8.80│ 9.20│ 9.25│ 12.35│ 16.05│ 15.60│ │ │
Aug. │ 8.30│ 9.10│ 9.05│ 9.45│ 12.70│ 15.75│ 16.45│ │ │
Sep. │ 8.50│ 9.35│ 8.95│ 9.40│ 13.10│ 16.00│ 15.50│ │ │
Oct. │ 8.40│ 9.05│ 8.80│ 9.75│ 11.70│ 14.80│ 16.15│ │ │
Nov. │ 8.25│ 8.60│ 8.70│ 10.15│ 11.10│ 15.05│ 15.10│ │ │
Dec. │ 8.20│ 8.35│ 8.35│ 10.00│ 11.40│ 14.90│ 14.35│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES FOR 1,200 TO 1,500-POUND STEERS AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 4.90│ 4.90│ 4.85│ 5.40│ 5.80│ 5.50│ 6.30│ 6.60│ 6.30│ 7.50
February │ 4.75│ 4.75│ 5.05│ 5.40│ 5.60│ 5.50│ 6.10│ 6.85│ 6.30│ 7.40
March │ 4.80│ 4.85│ 5.25│ 5.50│ 5.75│ 6.15│ 6.35│ 7.70│ 6.35│ 7.95
April │ 5.00│ 4.80│ 5.95│ 5.35│ 5.85│ 6.65│ 6.20│ 7.85│ 6.30│ 8.20
May │ 4.85│ 5.00│ 5.70│ 5.40│ 5.80│ 6.80│ 6.60│ 7.70│ 6.15│ 8.50
June │ 5.00│ 5.95│ 5.50│ 5.35│ 6.40│ 7.05│ 6.65│ 7.60│ 6.25│ 8.70
July │ 5.00│ 5.60│ 5.15│ 5.60│ 6.70│ 6.75│ 6.60│ 7.40│ 6.40│ 8.85
August │ 5.10│ 5.20│ 5.25│ 5.75│ 6.55│ 6.40│ 6.75│ 7.15│ 7.00│ 9.60
September│ 5.15│ 5.35│ 5.40│ 5.75│ 6.50│ 6.40│ 6.95│ 7.25│ 7.15│ 9.50
October │ 4.90│ 5.60│ 5.05│ 5.90│ 6.30│ 5.90│ 7.00│ 7.00│ 7.35│ 9.35
November │ 4.70│ 5.05│ 4.95│ 5.85│ 5.60│ 6.30│ 6.90│ 6.35│ 7.50│ 9.50
December │ 4.80│ 4.75│ 5.00│ 5.80│ 5.30│ 6.40│ 6.85│ 6.15│ 7.35│ 9.10
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 4.90│ 5.10│ 5.30│ 5.60│ 6.00│ 6.30│ 6.60│ 7.15│ 6.70│ 8.40
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 8.10│ 8.45│ 8.35│ 8.65│ 10.70│ 12.75│ 16.80│ │ │
February │ 8.30│ 8.40│ 7.90│ 8.70│ 11.25│ 12.90│ 17.00│ │ │
March │ 8.45│ 8.50│ 8.00│ 9.15│ 11.85│ 13.20│ 17.20│ │ │
April │ 8.35│ 8.65│ 8.05│ 9.55│ 12.35│ 15.35│ 16.85│ │ │
May │ 8.30│ 8.60│ 8.60│ 9.90│ 12.50│ 16.50│ 16.00│ │ │
June │ 8.35│ 8.80│ 9.00│ 10.35│ 12.75│ 17.00│ 14.50│ │ │
July │ 8.50│ 8.95│ 9.45│ 10.05│ 13.00│ 17.20│ 15.90│ │ │
August │ 8.55│ 9.35│ 9.25│ 10.40│ 13.90│ 17.25│ 16.75│ │ │
September│ 8.60│ 9.60│ 9.30│ 10.50│ 14.50│ 17.65│ 15.80│ │ │
October │ 8.70│ 9.35│ 9.05│ 10.05│ 13.50│ 16.60│ 16.50│ │ │
November │ 8.50│ 8.95│ 8.85│ 10.90│ 12.50│ 16.80│ 15.40│ │ │
December │ 8.40│ 8.80│ 8.75│ 11.05│ 12.00│ 16.75│ 14.50│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 8.35│ 8.85│ 8.75│ 9.90│ 12.55│ 15.50│ 16.20│ │ │
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF FAT COWS AND HEIFERS AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 4.05│$ 3.65│$ 3.35│$ 3.50│$ 3.80│$ 3.70│$ 4.10│ $4.25│$ 4.55│$ 4.25
Feb. │ 4.00│ 3.70│ 3.45│ 3.70│ 3.75│ 3.80│ 4.25│ 4.55│ 4.50│ 4.25
Mar. │ 4.05│ 3.70│ 3.65│ 3.85│ 3.90│ 4.15│ 4.35│ 5.30│ 4.65│ 5.00
Apr. │ 4.15│ 3.85│ 4.10│ 3.85│ 4.00│ 4.70│ 4.65│ 5.90│ 4.55│ 5.75
May │ 4.15│ 4.00│ 4.10│ 3.90│ 3.95│ 4.90│ 5.00│ 5.55│ 4.60│ 6.20
June │ 4.15│ 4.30│ 3.70│ 3.65│ 4.20│ 4.75│ 4.60│ 5.15│ 4.30│ 5.85
July │ 3.95│ 4.20│ 3.50│ 3.45│ 4.15│ 4.15│ 4.40│ 4.65│ 4.45│ 5.55
Aug. │ 4.00│ 3.80│ 3.40│ 3.50│ 3.80│ 3.90│ 4.10│ 4.20│ 4.60│ 5.70
Sep. │ 3.90│ 3.35│ 3.35│ 3.55│ 3.70│ 3.75│ 3.90│ 4.00│ 4.40│ 5.40
Oct. │ 3.80│ 3.10│ 3.30│ 3.65│ 3.50│ 3.65│ 3.85│ 3.95│ 4.25│ 5.15
Nov. │ 3.70│ 2.90│ 3.50│ 3.75│ 3.35│ 3.50│ 4.00│ 3.85│ 4.05│ 5.10
Dec. │ 3.60│ 2.75│ 3.60│ 3.70│ 3.30│ 3.70│ 4.00│ 3.90│ 4.00│ 5.05
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 5.50│$ 6.10│$ 6.10│$ 5.85│$ 7.10│$ 8.90│$10.00│ │ │
Feb. │ 5.80│ 6.35│ 5.65│ 6.00│ 7.50│ 9.00│ 10.60│ │ │
Mar. │ 6.15│ 6.25│ 5.55│ 6.60│ 8.40│ 9.75│ 11.30│ │ │
Apr. │ 6.25│ 6.45│ 5.75│ 6.90│ 8.90│ 10.30│ 11.30│ │ │
May │ 6.35│ 6.90│ 6.40│ 7.80│ 9.10│ 10.90│ 11.25│ │ │
June │ 6.20│ 6.65│ 6.75│ 7.65│ 8.60│ 10.70│ 10.35│ │ │
July │ 6.00│ 6.85│ 6.55│ 6.85│ 8.10│ 9.70│ 10.10│ │ │
Aug. │ 6.10│ 6.90│ 6.45│ 6.75│ 8.60│ 10.00│ 10.25│ │ │
Sep. │ 6.25│ 6.60│ 6.30│ 6.50│ 8.40│ 9.00│ 9.40│ │ │
Oct. │ 6.15│ 6.30│ 6.10│ 6.25│ 8.30│ 8.90│ 8.75│ │ │
Nov. │ 5.90│ 6.05│ 5.65│ 6.60│ 8.20│ 8.65│ 8.40│ │ │
Dec. │ 5.80│ 5.90│ 5.55│ 6.85│ 8.15│ 9.25│ 8.40│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF CANNERS AND CUTTERS AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 2.25│$ 2.10│$ 1.70│$ 2.15│$ 2.10│$ 2.20│$ 2.50│$ 2.75│$ 2.85│$ 2.65
Feb. │ 2.25│ 2.25│ 1.90│ 2.15│ 2.15│ 2.40│ 2.65│ 3.10│ 3.10│ 2.60
Mar. │ 2.35│ 2.30│ 2.05│ 2.30│ 2.35│ 2.60│ 2.70│ 3.50│ 3.00│ 3.00
Apr. │ 2.45│ 2.30│ 2.25│ 2.45│ 2.45│ 2.70│ 2.85│ 3.65│ 3.15│ 3.50
May │ 2.30│ 2.15│ 2.25│ 2.40│ 2.40│ 2.80│ 3.00│ 3.50│ 2.90│ 3.75
June │ 2.35│ 2.10│ 2.00│ 2.15│ 2.25│ 2.70│ 2.85│ 3.40│ 2.95│ 3.60
July │ 2.20│ 2.00│ 1.80│ 1.85│ 2.20│ 2.50│ 2.75│ 3.10│ 2.80│ 3.50
Aug. │ 2.15│ 1.75│ 1.70│ 1.75│ 2.05│ 2.50│ 2.65│ 2.80│ 2.75│ 3.60
Sep. │ 2.05│ 1.60│ 1.90│ 1.70│ 2.00│ 2.40│ 2.65│ 2.85│ 2.80│ 3.60
Oct. │ 2.00│ 1.55│ 1.90│ 1.80│ 1.95│ 2.35│ 2.65│ 2.80│ 2.65│ 3.50
Nov. │ 1.80│ 1.50│ 1.85│ 2.05│ 1.85│ 2.30│ 2.70│ 2.85│ 2.55│ 3.60
Dec. │ 1.80│ 1.40│ 1.90│ 1.90│ 1.90│ 2.35│ 2.75│ 2.85│ 2.50│ 3.60
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 3.90│$ 4.25│$ 4.25│$ 4.00│$ 5.45│ $6.95│$ 7.25│ │ │
Feb. │ 4.10│ 4.50│ 4.10│ 4.25│ 5.60│ 7.15│ 6.60│ │ │
Mar. │ 4.35│ 4.50│ 3.85│ 4.80│ 6.35│ 7.35│ 6.50│ │ │
Apr. │ 4.40│ 4.60│ 4.00│ 4.95│ 7.10│ 7.70│ 6.40│ │ │
May │ 4.40│ 4.75│ 4.40│ 5.40│ 7.25│ 7.80│ 7.00│ │ │
June │ 4.30│ 4.60│ 4.75│ 5.35│ 6.80│ 7.60│ 7.05│ │ │
July │ 4.15│ 4.50│ 4.75│ 5.20│ 6.10│ 7.25│ 6.85│ │ │
Aug. │ 4.20│ 4.85│ 4.60│ 5.05│ 6.40│ 7.00│ 6.75│ │ │
Sep. │ 4.35│ 4.65│ 4.40│ 4.75│ 6.20│ 6.70│ 5.90│ │ │
Oct. │ 4.25│ 4.40│ 4.25│ 4.45│ 6.00│ 6.60│ 5.85│ │ │
Nov. │ 4.10│ 4.55│ 4.10│ 4.70│ 5.90│ 5.75│ 5.80│ │ │
Dec. │ 4.05│ 4.40│ 3.95│ 5.15│ 6.05│ 6.75│ 5.60│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF NATIVE CALVES AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.10│$ 5.85│$ 6.15│$ 7.00│$ 7.00│$ 6.75│$ 7.60│$ 8.60│$ 8.75│$ 8.75
Feb. │ 7.15│ 6.35│ 6.50│ 6.40│ 6.50│ 6.60│ 6.85│ 8.65│ 8.40│ 7.50
Mar. │ 6.50│ 5.65│ 5.70│ 6.25│ 6.60│ 6.20│ 7.00│ 9.00│ 7.40│ 8.00
Apr. │ 5.75│ 4.60│ 5.10│ 5.60│ 6.00│ 5.50│ 6.30│ 7.85│ 6.60│ 7.40
May │ 5.60│ 4.60│ 5.25│ 5.65│ 6.35│ 5.60│ 5.60│ 7.35│ 7.25│ 7.75
June │ 6.20│ 4.90│ 5.85│ 5.80│ 6.15│ 5.80│ 6.50│ 7.85│ 7.60│ 8.00
July │ 5.65│ 5.75│ 5.75│ 5.60│ 6.40│ 6.00│ 7.00│ 7.60│ 7.40│ 8.75
Aug. │ 6.40│ 5.60│ 5.90│ 6.00│ 6.35│ 6.75│ 7.50│ 7.75│ 8.00│ 9.75
Sep. │ 6.65│ 5.90│ 6.00│ 6.75│ 6.50│ 7.60│ 7.60│ 8.50│ 8.75│ 11.25
Oct. │ 6.40│ 6.10│ 6.00│ 6.50│ 6.00│ 7.25│ 8.10│ 8.65│ 8.60│ 10.00
Nov. │ 5.75│ 6.00│ 6.00│ 6.25│ 6.25│ 6.50│ 8.75│ 8.75│ 8.35│ 9.85
Dec. │ 4.95│ 6.00│ 6.00│ 7.00│ 6.00│ 7.40│ 8.25│ 8.50│ 7.85│ 10.25
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 9.75│$11.00│$ 9.85│$10.15│$13.40│$15.35│$15.50│ │ │
Feb. │ 9.85│ 10.75│ 10.35│ 10.65│ 12.65│ 14.15│ 15.75│ │ │
Mar. │ 10.50│ 9.00│ 10.00│ 9.65│ 13.40│ 15.25│ 16.50│ │ │
Apr. │ 8.50│ 8.85│ 8.40│ 8.75│ 12.50│ 14.50│ 15.35│ │ │
May │ 9.25│ 9.50│ 9.15│ 10.40│ 13.25│ 13.50│ 14.50│ │ │
June │ 9.75│ 9.40│ 9.60│ 11.25│ 13.40│ 15.55│ 18.75│ │ │
July │ 10.40│ 10.60│ 10.25│ 11.40│ 13.00│ 16.70│ 18.00│ │ │
Aug. │ 11.50│ 11.00│ 11.50│ 12.00│ 15.15│ 17.25│ 19.85│ │ │
Sep. │ 11.25│ 11.40│ 11.25│ 12.40│ 15.00│ 18.60│ 20.50│ │ │
Oct. │ 10.50│ 10.65│ 10.85│ 11.50│ 14.85│ 17.10│ 18.10│ │ │
Nov. │ 10.35│ 10.35│ 10.15│ 11.85│ 13.50│ 16.80│ 17.40│ │ │
Dec. │ 10.75│ 8.65│ 9.65│ 11.75│ 15.25│ 16.50│ 16.50│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CHICAGO AVERAGE PRICES OF GRASS-FED WESTERN CATTLE.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
July │ 3.90│ │ 4.20│ 4.40│ │ 4.90│ 5.15│ 5.60│ 5.65│ 7.55
August │ 3.85│ 3.80│ 4.05│ 4.40│ 5.10│ 4.80│ 5.50│ 5.50│ 5.60│ 7.60
September│ 3.70│ 3.85│ 3.90│ 4.30│ 4.70│ 4.70│ 5.15│ 5.45│ 5.50│ 5.70
October │ 3.55│ 3.50│ 3.70│ 4.45│ 4.35│ 4.70│ 5.20│ 5.35│ 5.70│ 7.50
November │ 3.40│ 3.50│ 3.55│ 4.50│ 4.25│ 5.05│ 5.35│ 5.25│ 5.85│ 7.35
December │ 3.50│ 3.80│ 3.75│ 4.40│ 4.20│ 4.90│ 5.20│ 4.95│ 5.75│ 7.10
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ 7.10│ 7.85│ 8.00│ 7.85│ 9.00│ 14.60│ 12.40│ │ │
August │ 7.40│ 8.10│ 7.90│ 8.15│ 10.00│ 14.90│ 12.25│ │ │
September│ 7.55│ 7.70│ 7.80│ 8.25│ 11.40│ 14.65│ 11.25│ │ │
October │ 7.35│ 7.50│ 7.65│ 8.15│ 10.60│ 14.35│ 11.25│ │ │
November │ 7.40│ 7.35│ 7.60│ 8.80│ 10.25│ 14.25│ 10.25│ │ │
December │ 7.25│ 7.25│ 7.25│ 9.40│ 10.00│ 14.00│ 10.00│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF FEEDERS AND STOCKERS AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 3.60│$ 3.40│$ 3.65│$ 3.80│$ 4.10│$ 3.85│$ 4.55│$ 4.65│$ 5.15│$ 4.90
Feb. │ 3.75│ 3.45│ 3.70│ 3.90│ 4.25│ 4.20│ 4.70│ 4.85│ 5.10│ 5.20
Mar. │ 4.20│ 3.70│ 3.90│ 4.00│ 4.45│ 4.35│ 4.60│ 5.50│ 5.25│ 5.60
Apr. │ 4.35│ 3.80│ 3.95│ 4.00│ 4.60│ 4.80│ 4.80│ 5.60│ 5.10│ 6.15
May │ 4.10│ 4.00│ 4.20│ 4.15│ 4.55│ 4.60│ 4.85│ 5.50│ 4.95│ 6.25
June │ 4.00│ 3.95│ 4.00│ 3.90│ 4.50│ 4.40│ 4.75│ 4.85│ 4.50│ 5.85
July │ 3.70│ 3.50│ 3.40│ 3.65│ 4.20│ 4.15│ 4.50│ 4.45│ 4.35│ 5.40
Aug. │ 3.45│ 3.35│ 3.30│ 3.75│ 4.00│ 4.10│ 4.30│ 4.50│ 4.45│ 5.70
Sep. │ 3.25│ 3.30│ 3.45│ 3.90│ 4.05│ 3.90│ 4.35│ 4.50│ 4.55│ 5.65
Oct. │ 3.20│ 3.25│ 3.35│ 3.75│ 3.85│ 3.95│ 4.30│ 4.70│ 4.40│ 5.60
Nov. │ 3.10│ 3.15│ 3.25│ 3.70│ 3.80│ 4.00│ 4.25│ 4.60│ 4.50│ 5.85
Dec. │ 3.05│ 2.90│ 3.35│ 3.80│ 3.75│ 4.20│ 4.40│ 4.70│ 4.60│ 5.50
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 6.15│$ 7.10│ [12]│ [12]│$ 7.50│$ 8.80│$10.85│ │ │
│ │ │ $6.85│ $7.00│ │ │ │ │ │
Feb. │ 7.10│ 7.25│ [12]│ 6.90│ 7.75│ 9.00│ 11.50│ │ │
│ │ │ 7.00│ │ │ │ │ │ │
Mar. │ 7.45│ 7.30│ [12]│ 7.65│ 8.60│ 10.25│ 12.00│ │ │
│ │ │ 6.95│ │ │ │ │ │ │
Apr. │ 7.50│ 7.55│ [12]│ 7.80│ 8.75│ 10.50│ 12.65│ │ │
│ │ │ 8.05│ │ │ │ │ │ │
May │ 7.40│ 7.80│ [12]│ 8.15│ 8.90│ 10.75│ 12.40│ │ │
│ │ │ 7.95│ │ │ │ │ │ │
June │ 7.15│ 7.35│ [12]│ 7.90│ 8.50│ 10.90│ 11.15│ │ │
│ │ │ 7.75│ │ │ │ │ │ │
July │ 7.25│ 7.20│ [12]│ 7.00│ 7.90│ 10.25│ 10.15│ │ │
│ │ │ 7.70│ │ │ │ │ │ │
Aug. │ 7.30│ 7.30│ [12]│ 6.90│ 8.35│ 10.85│ 10.75│ │ │
│ │ │ 7.55│ │ │ │ │ │ │
Sep. │ 7.35│ 7.15│ [12]│ 6.70│ 8.50│ 10.90│ 9.90│ │ │
│ │ │ 7.40│ │ │ │ │ │ │
Oct. │ 6.95│ 6.80│ [12]│ 6.60│ 8.40│ 10.25│ 10.15│ │ │
│ │ │ 6.90│ │ │ │ │ │ │
Nov. │ 6.75│ 6.70│ [12]│ 6.65│ 8.75│ 10.00│ 9.75│ │ │
│ │ │ 6.75│ │ │ │ │ │ │
Dec. │ 6.65│ 6.70│ [12]│ 6.95│ 8.50│ 10.25│ 9.10│ │ │
│ │ │ 6.55│ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF YEARLING SHEEP AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 5.05│$ 5.10│$ 6.35│$ 6.20│$ 6.05│$ 5.60│$ 6.10│$ 6.75│$ 5.15│ $5.50
Feb. │ 5.60│ 4.95│ 6.60│ 6.00│ 6.10│ 5.70│ 6.00│ 7.70│ 5.25│ 5.25
Mar. │ 6.40│ 4.95│ 6.35│ 5.75│ 6.40│ 6.50│ 6.30│ 8.40│ 5.15│ 6.00
Apr. │ 6.05│ 5.25│ 6.00│ 6.05│ 6.60│ 6.25│ 6.65│ 8.00│ 4.75│ 6.70
May │ 6.10│ 5.45│ 5.50│ 6.15│ 6.45│ 5.90│ 7.00│ 7.25│ 5.05│ 6.75
June │ 5.35│ 5.40│ 5.40│ 6.40│ 6.65│ 5.25│ 6.40│ 6.20│ 4.55│ 5.35
July │ 4.20│ 4.80│ 5.85│ 6.25│ 6.20│ 4.85│ 5.30│ 5.30│ 4.75│ 5.30
Aug. │ 3.95│ 4.25│ 5.50│ 5.80│ 6.00│ 4.50│ 5.25│ 5.45│ 4.65│ 5.00
Sep. │ 3.85│ 4.05│ 5.40│ 5.75│ 5.80│ 4.35│ 5.25│ 5.40│ 4.25│ 5.25
Oct. │ 4.00│ 4.25│ 5.60│ 5.75│ 5.60│ 4.70│ 5.30│ 5.00│ 4.25│ 5.00
Nov. │ 4.00│ 4.90│ 5.75│ 6.05│ 5.00│ 4.80│ 6.00│ 4.90│ 4.30│ 5.20
Dec. │ 4.10│ 5.40│ 6.20│ 6.00│ 4.80│ 5.10│ 6.60│ 5.10│ 4.50│ 6.25
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 7.10│$ 6.15│$ 7.25│$ 9.20│$12.50│$14.15│$13.50│ │ │
Feb. │ 7.25│ 6.50│ 7.65│ 9.50│ 13.00│ 14.65│ 15.00│ │ │
Mar. │ 7.50│ 6.50│ 8.40│ 9.75│ 13.50│ 15.25│ 17.05│ │ │
Apr. │ 7.35│ 6.60│ 8.85│ 9.50│ 12.75│ 16.00│ 15.95│ │ │
May │ 6.60│ 6.50│ 8.25│ 10.25│ 14.00│ 15.00│ 13.15│ │ │
June │ 6.00│ 6.50│ 7.00│ 8.50│ 11.75│ 13.75│ 10.95│ │ │
July │ 6.10│ 6.70│ 7.00│ 8.60│ 12.00│ 15.15│ 11.80│ │ │
Aug. │ 5.50│ 6.50│ 6.75│ 8.20│ 12.00│ 14.90│ 11.75│ │ │
Sep. │ 5.25│ 6.30│ 6.75│ 8.65│ 13.40│ 13.50│ 10.70│ │ │
Oct. │ 5.35│ 6.25│ 6.85│ 8.50│ 13.50│ 11.75│ 10.80│ │ │
Nov. │ 5.75│ 7.00│ 7.05│ 9.65│ 13.75│ 11.35│ 10.90│ │ │
Dec. │ 6.25│ 6.90│ 7.70│ 10.90│ 13.75│ 11.75│ 14.00│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CHICAGO AVERAGE PRICES OF NATIVE LAMBS.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 5.40│ 5.40│ 7.10│ 7.25│ 7.25│ 6.70│ 7.25│ 8.20│ 6.00│ 6.35
February │ 6.00│ 5.25│ 7.30│ 6.80│ 7.20│ 6.60│ 7.40│ 8.50│ 5.80│ 6.00
March │ 6.45│ 5.15│ 7.00│ 6.40│ 7.45│ 7.10│ 7.50│ 9.30│ 5.75│ 7.00
April │ 5.85│ 5.30│ 6.20│ 6.20│ 7.95│ 7.10│ 7.75│ 9.00│ 5.20│ 7.50
May │ 5.95│ 5.60│ 6.00│ 6.40│ 7.80│ 6.40│ 7.80│ 8.15│ 5.60│ 7.85
June │ 5.75│ 5.55│ 5.75│ 6.70│ 7.10│ 5.40│ 7.30│ 7.35│ 5.75│ 6.60
July │ 5.35│ 5.90│ 6.00│ 6.60│ 7.05│ 6.00│ 7.40│ 6.80│ 5.90│ 7.15
August │ 4.85│ 5.40│ 7.10│ 7.00│ 6.90│ 5.95│ 7.25│ 6.40│ 6.00│ 6.75
September│ 4.80│ 5.10│ 7.00│ 7.00│ 6.90│ 5.25│ 6.70│ 6.40│ 5.40│ 6.75
October │ 4.80│ 5.05│ 7.25│ 6.90│ 6.80│ 5.40│ 6.40│ 6.55│ 5.50│ 6.50
November │ 4.80│ 5.55│ 7.00│ 7.00│ 6.00│ 5.75│ 7.15│ 6.15│ 5.35│ 6.90
December │ 5.00│ 6.20│ 7.25│ 7.15│ 5.65│ 6.60│ 7.60│ 6.00│ 5.60│ 7.50
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 8.35│ 7.75│ 8.25│ 10.00│ 13.75│ 16.80│ 15.95│ │ │
February │ 8.25│ 7.40│ 8.60│ 10.25│ 14.05│ 16.25│ 17.00│ │ │
March │ 8.35│ 7.40│ 9.25│ 10.40│ 13.90│ 17.10│ 18.70│ │ │
April │ 8.10│ 7.10│ 9.00│ 9.75│ 14.00│ 18.60│ 17.40│ │ │
May │ 7.00│ 7.50│ 9.75│ 10.00│ 15.50│ 17.25│ 15.10│ │ │
June │ 6.50│ 7.75│ 9.00│ 9.15│ 15.00│ 16.65│ 13.70│ │ │
July │ 7.40│ 8.25│ 8.50│ 10.35│ 15.70│ 18.35│ 16.85│ │ │
August │ 7.25│ 7.90│ 8.80│ 10.40│ 15.35│ 17.25│ 16.60│ │ │
September│ 7.05│ 7.50│ 8.50│ 10.25│ 17.35│ 16.85│ 14.70│ │ │
October │ 6.95│ 7.60│ 8.65│ 10.00│ 17.25│ 15.15│ 14.85│ │ │
November │ 7.10│ 8.70│ 8.75│ 11.15│ 16.60│ 14.90│ 14.25│ │ │
December │ 7.40│ 8.15│ 8.90│ 12.60│ 16.35│ 14.50│ 16.00│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CHICAGO AVERAGE PRICES OF NATIVE SHEEP.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 4.00│ 3.85│ 5.10│ 5.35│ 5.10│ 4.75│ 4.85│ 5.50│ 3.95│ 4.15
February │ 4.55│ 3.85│ 5.50│ 5.00│ 5.15│ 4.90│ 4.85│ 6.10│ 4.10│ 4.10
March │ 5.25│ 4.30│ 5.50│ 5.20│ 5.35│ 5.75│ 5.30│ 7.15│ 4.65│ 5.20
April │ 4.80│ 4.70│ 4.95│ 5.35│ 5.45│ 5.65│ 5.50│ 7.10│ 4.05│ 5.75
May │ 4.60│ 4.90│ 4.60│ 5.45│ 5.70│ 5.40│ 5.90│ 6.40│ 4.35│ 6.00
June │ 3.95│ 4.30│ 4.70│ 5.30│ 5.80│ 4.80│ 5.25│ 5.00│ 3.65│ 4.35
July │ 3.40│ 3.80│ 5.10│ 5.15│ 5.25│ 4.10│ 4.65│ 3.95│ 3.75│ 4.00
August │ 3.15│ 3.60│ 5.00│ 4.90│ 5.25│ 3.90│ 4.40│ 4.00│ 3.30│ 3.85
September│ 3.10│ 3.50│ 4.75│ 5.10│ 5.15│ 3.65│ 4.55│ 4.20│ 3.75│ 3.90
October │ 3.10│ 3.60│ 5.20│ 4.80│ 4.75│ 4.05│ 4.40│ 4.00│ 3.55│ 3.75
November │ 3.05│ 4.05│ 5.20│ 5.00│ 4.40│ 4.20│ 4.50│ 3.75│ 3.25│ 3.85
December │ 3.15│ 4.50│ 5.25│ 5.00│ 4.10│ 4.30│ 4.90│ 3.85│ 3.40│ 4.35
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 5.25│ 5.10│ 5.65│ 7.10│ 9.75│ 12.10│ 10.25│ │ │
February │ 5.75│ 5.55│ 6.35│ 7.60│ 11.10│ 12.30│ 11.20│ │ │
March │ 6.25│ 5.80│ 7.30│ 8.35│ 11.35│ 13.65│ 13.90│ │ │
April │ 6.35│ 6.00│ 7.60│ 8.25│ 11.85│ 15.00│ 14.30│ │ │
May │ 5.75│ 5.50│ 7.15│ 8.15│ 13.25│ 13.90│ 11.90│ │ │
June │ 4.85│ 5.00│ 5.40│ 7.25│ 9.90│ 13.25│ 9.15│ │ │
July │ 4.35│ 5.20│ 5.90│ 7.15│ 8.75│ 12.00│ 9.30│ │ │
August │ 4.25│ 5.25│ 6.10│ 7.15│ 9.75│ 12.65│ 9.20│ │ │
September│ 4.15│ 5.15│ 5.60│ 7.50│ 11.15│ 11.75│ 7.75│ │ │
October │ 4.40│ 5.20│ 5.85│ 7.40│ 11.50│ 10.00│ 7.60│ │ │
November │ 4.50│ 5.50│ 5.70│ 7.80│ 11.15│ 9.40│ 8.10│ │ │
December │ 4.80│ 5.35│ 6.10│ 8.90│ 11.55│ 9.15│ 9.40│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CHICAGO AVERAGE PRICES OF WESTERN LAMBS.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 5.60│ 5.70│ 5.25│ 7.30│ 7.30│ 6.80│ 7.40│ 8.40│ 6.25│ 6.55
February │ 6.20│ 5.55│ 7.50│ 6.75│ 7.30│ 6.75│ 7.55│ 8.75│ 6.10│ 6.25
March │ 6.70│ 5.45│ 7.10│ 6.35│ 7.60│ 7.40│ 7.70│ 9.50│ 6.15│ 7.50
April │ 6.40│ 5.90│ 6.95│ 6.35│ 8.05│ 7.35│ 8.10│ 9.15│ 5.60│ 8.10
May │ 6.35│ 5.85│ 6.40│ 6.60│ 7.80│ 6.85│ 8.40│ 8.50│ 5.95│ 8.60
June │ 5.30│ 5.65│ 6.00│ 6.80│ 7.20│ 5.80│ 7.75│ 7.65│ 6.30│ 7.20
July │ 5.20│ 6.40│ 6.35│ 6.85│ 7.05│ 6.40│ 7.80│ 7.15│ 6.40│ 7.45
August │ 4.90│ 5.45│ 7.05│ 7.20│ 6.90│ 6.20│ 7.40│ 6.80│ 6.50│ 7.25
September│ 4.85│ 5.15│ 7.00│ 7.20│ 6.90│ 5.40│ 6.85│ 6.85│ 5.80│ 7.15
October │ 4.75│ 5.20│ 7.00│ 7.05│ 6.80│ 5.65│ 6.55│ 6.70│ 5.80│ 6.90
November │ 4.50│ 5.45│ 6.85│ 6.90│ 6.05│ 5.90│ 6.90│ 6.30│ 5.50│ 7.25
December │ 4.65│ 6.20│ 7.25│ 7.10│ 5.70│ 6.75│ 7.50│ 6.20│ 5.85│ 7.90
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 8.70│ 8.00│ 8.50│ 10.50│ 14.00│ 17.35│ 16.55│ │ │
February │ 8.65│ 7.70│ 8.80│ 10.95│ 14.00│ 16.75│ 17.80│ │ │
March │ 8.70│ 7.85│ 9.65│ 11.15│ 14.35│ 17.90│ 19.40│ │ │
April │ 8.50│ 7.90│ 9.75│ 10.50│ 14.50│ 19.60│ 18.20│ │ │
May │ 7.65│ 8.50│ 10.35│ 11.00│ 17.25│ 18.35│ 16.40│ │ │
June │ 7.00│ 8.10│ 9.30│ 9.75│ 15.50│ 17.00│ 14.40│ │ │
July │ 7.70│ 8.65│ 8.90│ 10.65│ 15.60│ 18.60│ 17.15│ │ │
August │ 7.60│ 8.25│ 9.00│ 10.90│ 15.85│ 17.85│ 16.90│ │ │
September│ 7.30│ 7.90│ 8.90│ 10.80│ 17.65│ 17.40│ 14.90│ │ │
October │ 7.15│ 7.65│ 8.80│ 10.25│ 17.50│ 15.50│ 15.15│ │ │
November │ 7.40│ 8.80│ 8.90│ 11.50│ 16.85│ 15.20│ 14.75│ │ │
December │ 7.70│ 8.40│ 9.15│ 12.85│ 16.55│ 14.75│ 16.70│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CHICAGO AVERAGE PRICES OF WESTERN SHEEP.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 4.25│ 4.05│ 5.20│ 5.45│ 5.20│ 4.90│ 4.95│ 5.65│ 4.10│ 4.40
February │ 4.75│ 4.25│ 5.60│ 5.25│ 5.25│ 5.10│ 5.00│ 6.75│ 4.25│ 4.25
March │ 5.55│ 4.70│ 5.50│ 5.35│ 5.65│ 5.90│ 5.25│ 7.65│ 4.75│ 5.40
April │ 5.30│ 5.25│ 5.20│ 5.35│ 5.85│ 5.70│ 5.70│ 7.65│ 4.25│ 6.00
May │ 5.05│ 5.30│ 4.90│ 5.65│ 5.85│ 5.10│ 6.20│ 6.70│ 4.50│ 6.20
June │ 4.45│ 4.60│ 4.75│ 5.60│ 6.00│ 4.60│ 5.30│ 5.15│ 4.00│ 4.70
July │ 3.55│ 3.90│ 5.10│ 5.35│ 5.40│ 4.10│ 4.70│ 4.30│ 4.05│ 4.50
August │ 3.30│ 3.70│ 4.90│ 5.05│ 5.40│ 4.10│ 4.60│ 4.25│ 3.60│ 4.20
September│ 3.25│ 3.50│ 4.70│ 5.20│ 5.20│ 3.80│ 4.75│ 4.25│ 3.90│ 4.30
October │ 3.25│ 3.70│ 5.00│ 5.00│ 4.90│ 4.10│ 4.30│ 3.90│ 3.70│ 4.10
November │ 3.05│ 4.10│ 5.00│ 5.10│ 4.35│ 4.10│ 4.55│ 3.70│ 3.50│ 4.15
December │ 3.25│ 4.65│ 5.25│ 5.15│ 4.25│ 4.35│ 4.95│ 4.00│ 3.60│ 4.55
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 5.45│ 5.60│ 6.00│ 7.40│ 10.25│ 12.25│ 10.45│ │ │
February │ 6.00│ 5.80│ 6.55│ 7.80│ 11.35│ 12.45│ 11.50│ │ │
March │ 6.50│ 6.10│ 7.55│ 8.15│ 11.85│ 13.50│ 14.15│ │ │
April │ 6.60│ 6.35│ 7.90│ 8.15│ 12.15│ 15.85│ 14.70│ │ │
May │ 6.00│ 5.75│ 7.55│ 8.25│ 12.75│ 14.90│ 12.60│ │ │
June │ 5.15│ 5.50│ 5.65│ 7.40│ 10.15│ 13.60│ 9.45│ │ │
July │ 4.65│ 5.70│ 6.20│ 7.50│ 9.60│ 12.90│ 10.10│ │ │
August │ 4.45│ 5.75│ 6.30│ 7.60│ 9.50│ 13.25│ 10.25│ │ │
September│ 4.35│ 5.40│ 5.90│ 8.00│ 11.50│ 11.85│ 8.85│ │ │
October │ 4.60│ 5.40│ 6.20│ 7.60│ 11.90│ 10.55│ 8.70│ │ │
November │ 4.65│ 5.75│ 5.95│ 8.10│ 11.40│ 9.90│ 8.60│ │ │
December │ 5.10│ 5.60│ 6.35│ 9.10│ 11.40│ 9.60│ 9.80│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF SHORT-RIB SIDES AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 8.78│$ 6.44│$ 6.44│$ 7.33│$ 9.00│$ 6.14│$ 8.37│$11.11│$10.31│$ 8.06
Feb. │ 9.35│ 7.13│ 6.63│ 7.75│ 9.31│ 6.06│ 8.56│ 12.12│ 9.69│ 8.06
Mar. │ 9.70│ 6.94│ 6.78│ 8.35│ 8.69│ 6.56│ 8.81│ 13.16│ 8.75│ 8.69
Apr. │ 9.63│ 6.44│ 6.94│ 8.63│ 8.48│ 6.75│ 9.30│ 12.62│ 8.00│ 9.63
May │ 9.30│ 6.38│ 7.06│ 8.88│ 8.75│ 7.00│ 10.06│ 12.06│ 7.69│ 10.06
June │ 8.98│ 7.06│ 7.56│ 9.23│ 8.50│ 7.62│ 10.80│ 13.00│ 7.94│ 10.19
July │ 8.20│ 7.37│ 7.80│ 9.30│ 8.56│ 8.56│ 11.19│ 12.37│ 8.12│ 10.25
Aug. │ 7.50│ 7.41│ 8.50│ 8.90│ 8.61│ 8.75│ 11.30│ 11.81│ 8.56│ 10.62
Sep. │ 8.25│ 7.56│ 8.58│ 8.83│ 8.30│ 9.50│ 11.80│ 11.50│ 8.63│ 10.62
Oct. │ 8.13│ 7.56│ 8.00│ 8.63│ 8.06│ 9.06│ 11.10│ 10.88│ 8.31│ 10.63
Nov. │ 7.00│ 6.88│ 7.15│ 8.38│ 7.95│ 8.62│ 11.31│ 9.94│ 8.19│ 10.62
Dec. │ 6.31│ 6.44│ 7.04│ 8.43│ 7.00│ 8.19│ 12.29│ 9.88│ 8.19│ 9.88
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 9.75│$10.94│$ 9.75│$10.31│$14.44│$23.60│$23.37│ │ │
Feb. │ 10.25│ 11.13│ 9.50│ 10.69│ 15.94│ 24.68│ 23.25│ │ │
Mar. │ 10.81│ 11.06│ 9.25│ 11.56│ 17.50│ 24.43│ 25.62│ │ │
Apr. │ 11.25│ 10.81│ 9.63│ 12.25│ 19.38│ 23.21│ 27.69│ │ │
May │ 11.94│ 11.06│ 10.12│ 12.56│ 20.50│ 22.25│ 29.10│ │ │
June │ 11.88│ 11.44│ 10.00│ 12.94│ 20.50│ 22.60│ 28.50│ │ │
July │ 11.81│ 11.94│ 9.62│ 13.56│ 21.55│ 23.95│ 28.69│ │ │
Aug. │ 11.25│ 12.13│ 8.62│ 13.93│ 22.86│ 24.44│ 24.75│ │ │
Sep. │ 11.38│ 11.88│ 8.38│ 14.50│ 25.19│ 23.93│ 20.75│ │ │
Oct. │ 10.94│ 10.69│ 9.75│ 14.18│ 27.00│ 21.98│ 18.62│ │ │
Nov. │ 10.81│ 10.13│ 10.00│ 14.31│ 26.88│ 24.75│ 19.50│ │ │
Dec. │ 10.94│ 9.81│ 9.88│ 13.50│ 25.50│ 25.87│ 18.87│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF LARD AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 9.95│$ 6.92│$ 6.73│$ 7.47│$ 9.40│$ 7.76│$ 9.58│$12.25│$10.25│$ 9.25
Feb. │ 9.53│ 7.49│ 6.76│ 7.63│ 9.72│ 7.22│ 9.50│ 12.59│ 9.44│ 8.90
Mar. │ 9.95│ 7.06│ 6.94│ 8.04│ 9.02│ 7.93│ 9.98│ 14.00│ 8.70│ 9.35
Apr. │ 9.60│ 6.70│ 7.13│ 8.55│ 8.73│ 8.14│ 10.19│ 13.00│ 7.84│ 10.36
May │ 8.99│ 6.38│ 7.14│ 8.56│ 9.00│ 8.38│ 10.61│ 12.78│ 8.06│ 10.64
June │ 8.49│ 6.69│ 7.25│ 8.67│ 8.79│ 8.83│ 11.51│ 12.16│ 8.15│ 10.77
July │ 7.92│ 7.01│ 7.12│ 8.86│ 8.95│ 9.34│ 11.36│ 11.91│ 8.36│ 10.56
Aug. │ 8.06│ 6.81│ 7.68│ 8.70│ 8.95│ 9.34│ 11.71│ 11.81│ 8.96│ 10.80
Sep. │ 9.35│ 7.25│ 7.57│ 8.76│ 8.96│ 9.94│ 12.26│ 12.40│ 9.27│ 11.02
Oct. │ 7.16│ 7.42│ 7.14│ 9.31│ 8.89│ 9.78│ 12.33│ 12.83│ 8.91│ 11.34
Nov. │ 6.73│ 7.04│ 7.14│ 9.44│ 8.06│ 9.35│ 13.03│ 10.79│ 9.10│ 11.05
Dec. │ 6.59│ 6.86│ 7.49│ 8.98│ 7.95│ 8.31│ 13.03│ 10.35│ 8.99│ 10.39
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 9.89│$10.90│$10.73│$10.40│$15.75│$24.45│$23.12│ │ │
Feb. │ 10.42│ 10.56│ 10.46│ 9.95│ 17.09│ 26.02│ 24.15│ │ │
Mar. │ 10.63│ 10.50│ 9.96│ 10.86│ 19.38│ 25.91│ 27.05│ │ │
Apr. │ 10.96│ 10.16│ 9.91│ 11.99│ 21.13│ 25.23│ 30.78│ │ │
May │ 11.06│ 9.85│ 9.86│ 12.83│ 21.92│ 24.66│ 31.51│ │ │
June │ 11.04│ 9.91│ 9.43│ 12.71│ 21.19│ 24.62│ 34.68│ │ │
July │ 11.51│ 9.94│ 8.46│ 12.95│ 20.68│ 26.17│ 33.99│ │ │
Aug. │ 11.24│ 9.43│ 7.87│ 13.40│ 22.27│ 26.65│ 30.42│ │ │
Sep. │ 11.15│ 9.65│ 8.10│ 14.46│ 24.23│ 26.89│ 26.03│ │ │
Oct. │ 10.64│ 10.09│ 8.93│ 15.74│ 23.98│ 26.07│ 28.16│ │ │
Nov. │ 10.72│ 10.83│ 8.99│ 16.98│ 26.64│ 26.78│ 25.43│ │ │
Dec. │ 10.64│ 9.99│ 9.53│ 16.00│ 24.70│ 25.07│ 23.06│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF ELGIN AND CHICAGO BUTTER EXTRAS.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ $.273│ $.230│ $.293│ $.270│ $.306│ $.305│ $.310│ $.340│ $.270│ $.370
Feb. │ .258│ .251│ .325│ .278│ .328│ .326│ .300│ .300│ .260│ .300
Mar. │ .281│ .245│ .273│ .270│ .308│ .295│ .290│ .320│ .250│ .300
Apr. │ .259│ .238│ .291│ .220│ .300│ .286│ .280│ .310│ .210│ .310
May │ .208│ .197│ .227│ .198│ .238│ .238│ .250│ .280│ .220│ .280
June │ .211│ .175│ .200│ .199│ .231│ .230│ .260│ .270│ .220│ .250
July │ .196│ .171│ .200│ .203│ .245│ .220│ .260│ .280│ .250│ .250
Aug. │ .190│ .179│ .209│ .225│ .249│ .224│ .270│ .290│ .260│ .250
Sep. │ .206│ .194│ .209│ .244│ .281│ .239│ .300│ .300│ .260│ .300
Oct. │ .208│ .211│ .218│ .257│ .289│ .275│ .300│ .290│ .290│ .290
Nov. │ .230│ .250│ .235│ .275│ .263│ .294│ .310│ .310│ .330│ .330
Dec. │ .245│ .269│ .248│ .311│ .283│ .308│ .350│ .300│ .360│ .350
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
(Since February, 1918, Chicago price has been used.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ $.330│ $.320│ $.310│ $.310│ $.380│ $.490│ $.540│ │ │
Feb. │ .340│ .280│ .300│ .320│ .410│ .490│ .500│ │ │
Mar. │ .350│ .270│ .280│ .360│ .410│ .430│ .580│ │ │
Apr. │ .320│ .240│ .300│ .340│ .430│ .420│ .620│ │ │
May │ .280│ .260│ .270│ .290│ .390│ .420│ .570│ │ │
June │ .280│ .270│ .270│ .290│ .380│ .420│ .510│ │ │
July │ .260│ .270│ .260│ .280│ .380│ .430│ .510│ │ │
Aug. │ .260│ .290│ .250│ .300│ .400│ .450│ .530│ │ │
Sep. │ .310│ .290│ .250│ .330│ .430│ .550│ .570│ │ │
Oct. │ .300│ .300│ .280│ .350│ .430│ .560│ .640│ │ │
Nov. │ .320│ .330│ .310│ .390│ .440│ .630│ .690│ │ │
Dec. │ .340│ .330│ .330│ .390│ .480│ .670│ .680│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MILK PRICES IN ELGIN-CHICAGO DISTRICT.
(Prices per cwt. of 3½ per cent milk.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 1.45│$ 1.55│$ 1.50│$ 1.45│$ 1.55│$ 1.65│$ 1.55│$ 1.75│$ 2.00│$ 1.85
Feb. │ 1.45│ 1.50│ 1.40│ 1.40│ 1.45│ 1.65│ 1.55│ 1.70│ 1.90│ 1.80
Mar. │ 1.35│ 1.40│ 1.30│ 1.30│ 1.35│ 1.55│ 1.45│ 1.55│ 1.70│ 1.65
Apr. │ 1.20│ 1.20│ 1.20│ 1.20│ 1.30│ 1.35│ 1.40│ 1.45│ 1.30│ 1.30
May │ .95│ .90│ .90│ .90│ 1.00│ 1.05│ 1.10│ 1.20│ 1.10│ 1.05
June │ .85│ .80│ .80│ .80│ .90│ .95│ .95│ 1.05│ 1.00│ 1.00
July │ .95│ .90│ .90│ .90│ 1.00│ 1.05│ 1.05│ 1.20│ 1.30│ 1.30
Aug. │ 1.10│ 1.10│ 1.10│ 1.10│ 1.20│ 1.25│ 1.25│ 1.45│ 1.45│ 1.45
Sep. │ 1.20│ 1.20│ 1.20│ 1.20│ 1.30│ 1.35│ 1.35│ 1.60│ 1.45│ 1.50
Oct. │ 1.35│ 1.30│ 1.35│ 1.35│ 1.55│ 1.45│ 1.55│ 1.70│ 1.70│ 1.60
Nov. │ 1.45│ 1.40│ 1.45│ 1.45│ 1.65│ 1.55│ 1.70│ 1.90│ 1.85│ 1.75
Dec. │ 1.55│ 1.50│ 1.55│ 1.55│ 1.65│ 1.55│ 1.75│ 2.00│ 1.90│ 1.80
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 1.75│$ 2.00│$ 1.95│$ 1.64│$ 2.05│$ 3.22│$ 3.76│ │ │
Feb. │ 1.70│ 1.85│ 1.85│ 1.54│ 2.00│ 3.07│ 3.50│ │ │
Mar. │ 1.60│ 1.75│ 1.75│ 1.43│ 1.85│ 2.90│ 3.10│ │ │
Apr. │ 1.61│ 1.60│ 1.45│ 1.65│ 2.40│ 2.65│ 2.80│ │ │
May │ 1.36│ 1.40│ 1.20│ 1.45│ 2.00│ 2.05│ 2.50│ │ │
June │ 1.25│ 1.25│ 1.10│ 1.25│ 1.60│ 1.80│ 2.50│ │ │
July │ 1.46│ 1.50│ 1.30│ 1.55│ 2.12│ 2.30│ 3.00│ │ │
Aug. │ 1.61│ 1.60│ 1.55│ 1.70│ 2.30│ 2.75│ 3.50│ │ │
Sep. │ 1.55│ 1.60│ 1.55│ 1.70│ 2.30│ 2.92│ 3.55│ │ │
Oct. │ 1.65│ 1.90│ 1.53│ 1.90│ 3.42│ 3.32│ 3.63│ │ │
Nov. │ 1.75│ 2.00│ 1.65│ 2.10│ 3.22│ 3.68│ 3.60│ │ │
Dec. │ 1.85│ 2.00│ 1.65│ 2.10│ 3.22│ 3.77│ 3.65│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE PRICES OF DRAFT HORSES AT OMAHA AND CHICAGO MARKETS.[13]
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ $133│ $188│ $175│ $183│ $230│ │ │ │ │
February │ 140│ 148│ 175│ 183│ 243│ │ │ │ │
March │ 150│ 148│ 175│ 195│ 250│ │ │ │ │
April │ 175│ 163│ 188│ 208│ 268│ │ │ │ │
May │ 180│ 208│ 181│ 238│ 300│ │ │ │ │
June │ 145│ 193│ 163│ 205│ 280│ │ │ │ │
July │ 133│ 163│ 165│ 175│ 263│ │ │ │ │
August │ 133│ 148│ 165│ 178│ 233│ │ │ │ │
September│ 133│ 148│ 170│ 178│ 213│ │ │ │ │
October │ 140│ 163│ 200│ 195│ 200│ │ │ │ │
November │ 125│ 183│ 200│ 200│ 220│ │ │ │ │
December │ 143│ 178│ 200│ 200│ 200│ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 144│ 169│ 180│ 195│ 241│ 180│ 194│ 200│ 205│ 210
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ │ │ │ │ │ │ │ │ │
February │ │ │ │ │ │ │ │ │ │
March │ │ │ │ │ │ │ │ │ │
April │ │ │ │ │ │ │ │ │ │
May │ │ │ │ │ │ │ │ │ │
June │ │ │ │ │ │ │ │ │ │
July │ │ │ │ │ │ │ │ │ │
August │ │ │ │ │ │ │ │ │ │
September│ │ │ │ │ │ │ │ │ │
October │ │ │ │ │ │ │ │ │ │
November │ │ │ │ │ │ │ │ │ │
December │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 213│ 208│ 203│ 210│ 215│ 210│ 215│ │ │
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MONTHLY PRICES OF HORSES ON THE FARMS OF THE UNITED STATES.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ $143│ $134│ $140│ $137│ $130│ $128│ $129│ $130│ $120│
February │ 144│ 137│ 146│ 139│ 132│ 129│ 131│ 133│ 121│
March │ 145│ 140│ 146│ 138│ 132│ 131│ 133│ 137│ 124│
April │ 147│ 142│ 148│ 138│ 132│ 133│ 136│ 137│ 127│
May │ 146│ 144│ 145│ 139│ 133│ 134│ 138│ 136│ 129│
June │ 145│ 147│ 146│ 136│ 132│ 132│ 137│ 135│ 127│
July │ 139│ 142│ 143│ 137│ 134│ 133│ 135│ 132│ 127│
August │ 141│ 142│ 141│ 135│ 131│ 131│ 132│ 131│ 125│
September│ 139│ 141│ 141│ 132│ 131│ 131│ 132│ 128│ 119│
October │ 137│ 140│ 138│ 131│ 129│ 130│ 130│ 126│ 114│
November │ 136│ 140│ 136│ 130│ 127│ 129│ 129│ 122│ 113│
December │ 134│ 139│ 135│ 130│ 126│ 129│ 129│ 121│ 113│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MONTHLY HOG RECEIPTS AT ELEVEN MARKETS.
(Chicago, Kansas City, Omaha, St. Louis, St. Joseph, Sioux City, St.
Paul, Indianapolis, Cleveland, Buffalo and Pittsburgh.)
(000 omitted.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ 2,036│ 3,084
Feb. │ │ │ │ │ │ │ │ │ 1,923│ 2,631
Mar. │ │ │ │ │ │ │ │ │ 2,169│ 2,165
Apr. │ │ │ │ │ │ │ │ │ 1,876│ 1,969
May │ │ │ │ │ │ │ │ │ 2,266│ 2,133
June │ │ │ │ │ │ │ │ │ 2,416│ 2,082
July │ │ │ │ │ │ │ │ │ 1,855│ 1,840
Aug. │ │ │ │ │ │ │ │ │ 1,600│ 1,462
Sep. │ │ │ │ │ │ │ │ │ 1,560│ 1,343
Oct. │ │ │ │ │ │ │ │ │ 2,021│ 1,875
Nov. │ │ │ │ │ │ │ │ │ 2,632│ 2,107
Dec. │ │ │ │ │ │ │ │ │ 2,445│ 2,404
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │20,550│21,920│23,845│23,049│24,136│27,826│22,820│19,523│24,859│25,095
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 2,632│ 2,479│ 2,915│ 3,847│ 3,587│ 3,025│ 4,100│ 3,670│ │
Feb. │ 2,027│ 2,030│ 2,651│ 3,104│ 2,656│ 3,173│ 3,160│ 2,324│ │
Mar. │ 1,775│ 1,897│ 2,439│ 2,252│ 2,189│ 3,115│ 2,560│ │ │
Apr. │ 1,843│ 1,644│ 1,816│ 2,412│ 1,982│ 2,715│ 2,504│ │ │
May │ 2,105│ 1,859│ 1,961│ 2,395│ 2,265│ 2,433│ 2,739│ │ │
June │ 2,225│ 2,184│ 2,234│ 2,297│ 2,069│ 2,159│ 2,840│ │ │
July │ 1,959│ 1,722│ 1,837│ 1,884│ 1,991│ 2,272│ 2,251│ │ │
Aug. │ 1,771│ 1,491│ 1,605│ 2,157│ 1,333│ 1,718│ 1,493│ │ │
Sep. │ 1,753│ 1,436│ 1,363│ 1,609│ 1,035│ 1,566│ 1,555│ │ │
Oct. │ 2,032│ 1,943│ 1,624│ 2,462│ 1,721│ 2,333│ 1,992│ │ │
Nov. │ 2,248│ 1,995│ 2,600│ 3,575│ 2,547│ 3,240│ 2,559│ │ │
Dec. │ 2,815│ 2,838│ 3,567│ 3,712│ 2,711│ 4,082│ 3,551│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │25,185│23,518│26,612│31,706│26,086│31,831│31,314│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MONTHLY HOG RECEIPTS AT SIX MARKETS.
(Chicago, Omaha, Kansas City, St. Louis, St. Joseph, Sioux City.)
(000 omitted.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 1,559│ 1,693│ 1,935│ 1,913│ 1,828│ 2,663│ 2,011│ 1,404│ 1,492│ 2,322
Feb. │ 1,404│ 1,709│ 1,538│ 1,657│ 1,690│ 2,044│ 1,594│ 1,350│ 1,552│ 1,992
Mar. │ 1,124│ 1,318│ 1,497│ 1,492│ 1,396│ 1,752│ 1,900│ 1,120│ 1,666│ 1,695
Apr. │ 1,215│ 1,349│ 1,245│ 1,305│ 1,461│ 1,293│ 1,371│ 960│ 1,556│ 1,542
May │ 1,451│ 1,472│ 1,588│ 1,608│ 1,783│ 1,790│ 1,553│ 1,260│ 1,852│ 1,759
June │ 1,485│ 1,457│ 1,744│ 1,730│ 1,677│ 1,694│ 1,480│ 1,422│ 1,876│ 1,602
July │ 1,364│ 808│ 1,266│ 1,408│ 1,595│ 1,354│ 1,153│ 1,117│ 1,492│ 1,405
Aug. │ 1,164│ 1,236│ 1,158│ 1,396│ 1,278│ 1,269│ 1,005│ 1,098│ 1,172│ 1,085
Sep. │ 1,043│ 923│ 1,047│ 1,046│ 1,149│ 1,151│ 1,002│ 830│ 1,166│ 934
Oct. │ 974│ 1,109│ 1,318│ 1,113│ 1,088│ 1,591│ 1,138│ 892│ 1,439│ 1,295
Nov. │ 1,290│ 1,644│ 1,617│ 1,252│ 1,037│ 1,875│ 1,389│ 1,212│ 1,828│ 1,452
Dec. │ 1,730│ 1,772│ 1,799│ 1,458│ 1,610│ 1,981│ 1,440│ 1,331│ 1,779│ 1,664
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │15,803│16,490│17,752│17,378│17,593│20,457│17,036│13,996│18,871│18,743
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 1,959│ 1,739│ 2,003│ 2,839│ 2,757│ 2,144│ 3,100│ │ │
Feb. │ 1,575│ 1,584│ 2,028│ 2,416│ 2,219│ 2,322│ 2,458│ │ │
Mar. │ 1,399│ 1,405│ 1,863│ 1,863│ 1,723│ 2,469│ 2,005│ │ │
Apr. │ 1,385│ 1,202│ 1,305│ 1,435│ 1,510│ 2,096│ 1,919│ │ │
May │ 1,585│ 1,320│ 1,506│ 1,594│ 1,667│ 1,819│ 2,049│ │ │
June │ 1,688│ 1,483│ 1,551│ 1,631│ 1,475│ 1,594│ 2,124│ │ │
July │ 1,444│ 1,170│ 1,332│ 1,378│ 1,470│ 1,754│ 1,705│ │ │
Aug. │ 1,387│ 1,020│ 1,137│ 1,492│ 991│ 1,353│ 1,054│ │ │
Sep. │ 1,309│ 984│ 956│ 1,116│ 701│ 1,172│ 1,092│ │ │
Oct. │ 1,389│ 1,312│ 992│ 1,668│ 1,124│ 1,678│ 1,333│ │ │
Nov. │ 1,575│ 1,494│ 1,651│ 2,469│ 1,641│ 2,208│ 1,740│ │ │
Dec. │ 1,972│ 1,970│ 2,561│ 2,665│ 1,802│ 2,743│ 2,501│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │18,668│16,619│18,876│22,566│19,080│23,352│23,080│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
HOG RECEIPTS AT CHICAGO.
(000 omitted.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 818│ 870│ 930│ 898│ 806│ 1,110│ 818│ 569│ 640│ 881
Feb. │ 688│ 846│ 727│ 734│ 681│ 869│ 690│ 574│ 651│ 791
Mar. │ 522│ 612│ 677│ 621│ 579│ 723│ 737│ 394│ 702│ 654
Apr. │ 527│ 558│ 560│ 503│ 583│ 493│ 482│ 325│ 519│ 567
May │ 571│ 580│ 653│ 561│ 647│ 604│ 570│ 462│ 635│ 630
June │ 677│ 577│ 625│ 624│ 587│ 629│ 518│ 497│ 560│ 543
July │ 545│ 350│ 504│ 585│ 611│ 531│ 449│ 390│ 508│ 523
Aug. │ 538│ 502│ 489│ 571│ 511│ 469│ 397│ 441│ 485│ 431
Sep. │ 465│ 356│ 476│ 454│ 480│ 381│ 353│ 355│ 442│ 404
Oct. │ 451│ 477│ 579│ 511│ 442│ 634│ 399│ 424│ 587│ 522
Nov. │ 637│ 705│ 704│ 556│ 472│ 816│ 564│ 549│ 695│ 573
Dec. │ 885│ 805│ 800│ 656│ 802│ 873│ 643│ 607│ 679│ 661
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 7,324│ 7,238│ 7,724│ 7,274│ 7,201│ 8,132│ 6,620│ 5,587│ 7,103│ 7,180
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 806│ 729│ 896│ 1,228│ 1,124│ 729│ 1,123│ 1,024│ │
Feb. │ 646│ 649│ 740│ 947│ 792│ 917│ 913│ 616│ │
Mar. │ 586│ 543│ 646│ 733│ 628│ 975│ 675│ │ │
Apr. │ 534│ 444│ 467│ 542│ 543│ 787│ 640│ │ │
May │ 549│ 465│ 567│ 612│ 584│ 659│ 704│ │ │
June │ 611│ 586│ 564│ 566│ 506│ 513│ 781│ │ │
July │ 517│ 460│ 511│ 527│ 474│ 628│ 603│ │ │
Aug. │ 565│ 414│ 445│ 587│ 337│ 434│ 384│ │ │
Sep. │ 588│ 370│ 412│ 474│ 251│ 398│ 432│ │ │
Oct. │ 641│ 521│ 418│ 781│ 436│ 681│ 568│ │ │
Nov. │ 641│ 434│ 812│ 1,062│ 698│ 894│ 807│ │ │
Dec. │ 889│ 1,002│ 1,175│ 1,128│ 796│ 1,000│ 1,043│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 7,573│ 6,617│ 7,653│ 9,187│ 7,169│ 8,615│ 8,673│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
HOG RECEIPTS AT OMAHA.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 197│ 185│ 206│ 229│ 203│ 306│ 242│ 177│ 171│ 330
Feb. │ 204│ 222│ 184│ 226│ 218│ 261│ 192│ 202│ 204│ 359
Mar. │ 164│ 198│ 216│ 223│ 198│ 241│ 284│ 194│ 252│ 286
Apr. │ 183│ 234│ 166│ 205│ 193│ 170│ 213│ 153│ 238│ 285
May │ 240│ 253│ 226│ 255│ 250│ 262│ 222│ 172│ 256│ 303
June │ 277│ 264│ 301│ 305│ 245│ 262│ 230│ 214│ 279│ 279
July │ 210│ 106│ 222│ 207│ 259│ 159│ 170│ 166│ 213│ 223
Aug. │ 159│ 180│ 172│ 219│ 182│ 158│ 135│ 172│ 161│ 168
Sep. │ 130│ 135│ 123│ 130│ 153│ 110│ 118│ 102│ 119│ 111
Oct. │ 100│ 125│ 120│ 111│ 115│ 122│ 89│ 93│ 108│ 137
Nov. │ 150│ 185│ 137│ 117│ 78│ 165│ 102│ 110│ 152│ 183
Dec. │ 218│ 214│ 210│ 167│ 159│ 208│ 138│ 137│ 214│ 220
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 2,232│ 2,301│ 2,283│ 2,394│ 2,253│ 2,424│ 2,135│ 1,892│ 2,367│ 2,884
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 281│ 256│ 258│ 396│ 441│ 331│ 449│ │ │
Feb. │ 254│ 244│ 318│ 402│ 377│ 364│ 391│ │ │
Mar. │ 227│ 243│ 320│ 318│ 295│ 393│ 400│ │ │
Apr. │ 212│ 194│ 234│ 231│ 229│ 379│ 310│ │ │
May │ 248│ 211│ 245│ 238│ 244│ 285│ 296│ │ │
June │ 246│ 208│ 258│ 261│ 244│ 285│ 303│ │ │
July │ 227│ 202│ 218│ 217│ 261│ 288│ 281│ │ │
Aug. │ 185│ 138│ 189│ 199│ 166│ 225│ 147│ │ │
Sep. │ 132│ 99│ 119│ 120│ 94│ 147│ 102│ │ │
Oct. │ 127│ 103│ 77│ 123│ 98│ 132│ 116│ │ │
Nov. │ 190│ 155│ 103│ 277│ 148│ 239│ 135│ │ │
Dec. │ 220│ 206│ 304│ 335│ 200│ 360│ 254│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 2,549│ 2,259│ 2,643│ 3,117│ 2,797│ 3,428│ 3,184│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
HOG RECEIPTS AT ST. LOUIS.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ 210│ 227│ 311│ 282│ 211│ 236│ 343
Feb. │ │ │ │ 172│ 179│ 197│ 218│ 165│ 220│ 221
Mar. │ │ │ │ 166│ 170│ 183│ 242│ 163│ 267│ 217
Apr. │ │ │ │ 148│ 179│ 174│ 199│ 131│ 226│ 191
May │ │ │ │ 189│ 196│ 233│ 199│ 204│ 275│ 215
June │ │ │ │ 158│ 167│ 219│ 192│ 207│ 310│ 189
July │ │ │ │ 145│ 169│ 180│ 160│ 174│ 246│ 177
Aug. │ │ │ │ 145│ 157│ 169│ 134│ 151│ 191│ 145
Sep. │ │ │ │ 112│ 141│ 174│ 168│ 120│ 226│ 142
Oct. │ │ │ │ 134│ 177│ 220│ 199│ 134│ 285│ 217
Nov. │ │ │ │ 158│ 136│ 229│ 241│ 182│ 354│ 210
Dec. │ │ │ │ 186│ 167│ 259│ 230│ 212│ 282│ 251
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,568│ 1,955│ 2,026│ 1,923│ 2,065│ 2,548│ 2,464│ 2,054│ 3,118│ 2,518
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 283│ 291│ 261│ 361│ 360│ 292│ 395│ │ │
Feb. │ 219│ 265│ 285│ 315│ 293│ 338│ 340│ │ │
Mar. │ 185│ 224│ 301│ 245│ 259│ 320│ 332│ │ │
Apr. │ 180│ 197│ 205│ 189│ 232│ 275│ 340│ │ │
May │ 232│ 209│ 210│ 242│ 264│ 251│ 340│ │ │
June │ 226│ 196│ 189│ 206│ 203│ 223│ 305│ │ │
July │ 189│ 151│ 157│ 171│ 177│ 227│ 232│ │ │
Aug. │ 175│ 163│ 144│ 215│ 125│ 193│ 166│ │ │
Sep. │ 188│ 209│ 142│ 170│ 98│ 176│ 209│ │ │
Oct. │ 182│ 237│ 173│ 232│ 196│ 264│ 235│ │ │
Nov. │ 214│ 187│ 232│ 358│ 245│ 305│ 312│ │ │
Dec. │ 290│ 230│ 293│ 353│ 253│ 392│ 432│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 2,563│ 2,559│ 2,592│ 3,057│ 2,705│ 3,256│ 3,638│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
HOG RECEIPTS AT KANSAS CITY.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ 271│ 263│ 502│ 357│ 222│ 223│ 353
Feb. │ │ │ │ 224│ 254│ 325│ 257│ 187│ 225│ 241
Mar. │ │ │ │ 196│ 218│ 290│ 339│ 184│ 295│ 200
Apr. │ │ │ │ 219│ 255│ 248│ 267│ 175│ 316│ 208
May │ │ │ │ 301│ 362│ 353│ 302│ 217│ 356│ 233
June │ │ │ │ 285│ 313│ 200│ 247│ 220│ 338│ 209
July │ │ │ │ 207│ 259│ 202│ 150│ 162│ 233│ 169
Aug. │ │ │ │ 214│ 170│ 196│ 154│ 129│ 139│ 102
Sep. │ │ │ │ 141│ 151│ 272│ 207│ 110│ 183│ 107
Oct. │ │ │ │ 191│ 196│ 369│ 268│ 117│ 250│ 217
Nov. │ │ │ │ 215│ 208│ 370│ 277│ 178│ 332│ 241
Dec. │ │ │ │ 212│ 275│ 363│ 250│ 177│ 281│ 243
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,969│ 2,227│ 2,508│ 2,676│ 2,924│ 3,690│ 3,075│ 2,078│ 3,171│ 2,523
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 270│ 203│ 254│ 328│ 274│ 305│ 440│ │ │
Feb. │ 196│ 170│ 297│ 286│ 235│ 269│ 314│ │ │
Mar. │ 163│ 172│ 244│ 219│ 186│ 275│ 224│ │ │
Apr. │ 218│ 166│ 174│ 192│ 201│ 256│ 281│ │ │
May │ 229│ 180│ 212│ 274│ 228│ 269│ 304│ │ │
June │ 245│ 177│ 211│ 250│ 172│ 225│ 291│ │ │
July │ 196│ 114│ 151│ 175│ 171│ 213│ 198│ │ │
Aug. │ 170│ 117│ 143│ 220│ 129│ 195│ 131│ │ │
Sep. │ 172│ 149│ 130│ 190│ 102│ 211│ 169│ │ │
Oct. │ 203│ 232│ 180│ 271│ 172│ 298│ 216│ │ │
Nov. │ 243│ 382│ 240│ 299│ 195│ 356│ 231│ │ │
Dec. │ 261│ 202│ 294│ 274│ 212│ 455│ 310│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 2,566│ 2,264│ 2,529│ 2,978│ 2,277│ 3,325│ 3,109│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
HOG RECEIPTS AT SIOUX CITY.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │ 177
Feb. │ │ │ │ │ │ │ │ │ │ 185
Mar. │ │ │ │ │ │ │ │ │ │ 143
Apr. │ │ │ │ │ │ │ │ │ │ 138
May │ │ │ │ │ │ │ │ │ │ 199
June │ │ │ │ │ │ │ │ │ │ 207
July │ │ │ │ │ │ │ │ │ │ 156
Aug. │ │ │ │ │ │ │ │ │ │ 110
Sep. │ │ │ │ │ │ │ │ │ │ 69
Oct. │ │ │ │ │ │ │ │ │ │ 76
Nov. │ │ │ │ │ │ │ │ │ │ 97
Dec. │ │ │ │ │ │ │ │ │ │ 123
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,008│ 1,113│ 1,299│ 1,158│ 1,289│ 1,377│ 1,077│ 1,044│ 1,349│ 1,680
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 136│ 88│ 175│ 271│ 315│ 252│ 314│ │ │
Feb. │ 114│ 105│ 204│ 255│ 257│ 232│ 261│ │ │
Mar. │ 112│ 108│ 200│ 191│ 196│ 300│ 224│ │ │
Apr. │ 107│ 93│ 116│ 161│ 154│ 228│ 195│ │ │
May │ 178│ 127│ 142│ 150│ 169│ 200│ 235│ │ │
June │ 180│ 149│ 185│ 162│ 187│ 209│ 246│ │ │
July │ 172│ 133│ 176│ 150│ 217│ 232│ 237│ │ │
Aug. │ 150│ 104│ 114│ 124│ 103│ 151│ 127│ │ │
Sep. │ 114│ 64│ 65│ 75│ 66│ 110│ 90│ │ │
Oct. │ 97│ 64│ 51│ 100│ 105│ 115│ 92│ │ │
Nov. │ 87│ 116│ 103│ 212│ 203│ 157│ 106│ │ │
Dec. │ 86│ 113│ 229│ 279│ 176│ 236│ 195│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,533│ 1,26│ 1,760│ 2,130│ 2,148│ 2,422│ 2,322│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
HOG RECEIPTS AT ST. JOSEPH.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ 186│ 202│ 270│ 187│ 146│ 125│ 238
Feb. │ │ │ │ 166│ 187│ 233│ 149│ 118│ 161│ 196
Mar. │ │ │ │ 160│ 143│ 194│ 170│ 109│ 175│ 201
Apr. │ │ │ │ 150│ 162│ 140│ 121│ 101│ 145│ 163
May │ │ │ │ 184│ 201│ 214│ 147│ 122│ 176│ 177
June │ │ │ │ 219│ 213│ 247│ 159│ 147│ 212│ 176
July │ │ │ │ 159│ 179│ 186│ 124│ 124│ 170│ 156
Aug. │ │ │ │ 147│ 148│ 201│ 120│ 110│ 112│ 127
Sep. │ │ │ │ 109│ 129│ 155│ 99│ 80│ 108│ 103
Oct. │ │ │ │ 116│ 112│ 157│ 120│ 67│ 134│ 126
Nov. │ │ │ │ 139│ 87│ 168│ 138│ 112│ 194│ 147
Dec. │ │ │ │ 174│ 159│ 174│ 156│ 111│ 203│ 163
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,701│ 1,656│ 1,900│ 1,909│ 1,922│ 2,339│ 1,690│ 1,360│ 1,915│ 1,973
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 184│ 170│ 160│ 255│ 242│ 236│ 368│ │ │
Feb. │ 147│ 150│ 185│ 210│ 200│ 234│ 220│ │ │
Mar. │ 116│ 122│ 151│ 157│ 160│ 204│ 151│ │ │
Apr. │ 124│ 108│ 109│ 120│ 150│ 170│ 153│ │ │
May │ 149│ 128│ 130│ 177│ 177│ 156│ 170│ │ │
June │ 179│ 166│ 143│ 185│ 163│ 140│ 198│ │ │
July │ 143│ 110│ 110│ 137│ 172│ 167│ 153│ │ │
Aug. │ 143│ 85│ 102│ 148│ 130│ 155│ 97│ │ │
Sep. │ 113│ 94│ 88│ 92│ 90│ 130│ 89│ │ │
Oct. │ 140│ 156│ 91│ 162│ 118│ 187│ 111│ │ │
Nov. │ 199│ 219│ 160│ 261│ 152│ 257│ 149│ │ │
Dec. │ 232│ 217│ 268│ 294│ 165│ 315│ 267│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,869│ 1,725│ 1,698│ 2,198│ 1,920│ 2,351│ 2,126│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MONTHLY CATTLE RECEIPTS AT SIX MARKETS.
(Chicago, Omaha, Kansas City, St. Louis, St. Joseph, Sioux City.)
(000 omitted.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 671│ 706│ 693│ 771│ 836│ 735│ 664│ 688│ 745│ 702
Feb. │ 586│ 624│ 548│ 629│ 628│ 596│ 535│ 554│ 548│ 516
Mar. │ 627│ 664│ 643│ 592│ 612│ 619│ 632│ 613│ 558│ 508
Apr. │ 666│ 604│ 623│ 577│ 723│ 494│ 490│ 495│ 479│ 495
May │ 620│ 587│ 707│ 671│ 625│ 505│ 558│ 533│ 602│ 471
June │ 669│ 692│ 666│ 599│ 669│ 604│ 552│ 615│ 623│ 448
July │ 727│ 402│ 672│ 678│ 745│ 588│ 607│ 649│ 680│ 508
Aug. │ 824│ 744│ 883│ 732│ 796│ 771│ 820│ 923│ 774│ 684
Sep. │ 1,065│ 927│ 1,000│ 858│ 1,037│ 967│ 1,010│ 1,029│ 784│ 902
Oct. │ 1,085│ 1,088│ 1,196│ 1,080│ 1,057│ 941│ 1,022│ 1,076│ 1,073│ 1,040
Nov. │ 841│ 927│ 919│ 868│ 646│ 807│ 955│ 854│ 780│ 694
Dec. │ 676│ 663│ 764│ 750│ 650│ 701│ 782│ 652│ 597│ 750
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 9,057│ 8,628│ 9,314│ 8,803│ 9,024│ 8,328│ 8,627│ 8,681│ 8,242│ 7,717
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
For 1903, 1904 and 1905, the figures as given are about 8 per cent too
high, on account of the system of counting calves as cattle at certain
markets; 92 per cent of the 1903, 1904 and 1905 figures will make them
more comparable with the later years.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 640│ 557│ 572│ 655│ 847│ 842│ 1,086│ │ │
Feb. │ 514│ 474│ 415│ 569│ 592│ 789│ 729│ │ │
Mar. │ 503│ 494│ 549│ 581│ 554│ 842│ 654│ │ │
Apr. │ 512│ 436│ 468│ 441│ 601│ 924│ 695│ │ │
May │ 461│ 399│ 464│ 557│ 731│ 694│ 669│ │ │
June │ 539│ 467│ 479│ 548│ 730│ 719│ 649│ │ │
July │ 574│ 455│ 475│ 545│ 793│ 988│ 855│ │ │
Aug. │ 710│ 574│ 643│ 844│ 830│ 953│ 937│ │ │
Sep. │ 950│ 821│ 782│ 915│ 1,085│ 1,419│ 1,224│ │ │
Oct. │ 851│ 834│ 891│ 1,226│ 1,396│ 1,402│ 1,276│ │ │
Nov. │ 622│ 593│ 859│ 964│ 1,218│ 1,254│ 1,224│ │ │
Dec. │ 615│ 622│ 658│ 753│ 922│ 1,124│ 1,036│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 7,489│ 6,723│ 7,254│ 8,598│10,299│11,950│11,034│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MONTHLY CATTLE RECEIPTS AT CHICAGO.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 275│ 293│ 320│ 308│ 317│ 313│ 273│ 272│ 294│ 284
Feb. │ 239│ 266│ 257│ 243│ 250│ 258│ 209│ 228│ 213│ 211
Mar. │ 264│ 261│ 267│ 227│ 230│ 253│ 238│ 225│ 211│ 214
Apr. │ 280│ 246│ 237│ 242│ 282│ 206│ 180│ 192│ 184│ 208
May │ 231│ 237│ 254│ 264│ 250│ 181│ 201│ 194│ 246│ 198
June │ 303│ 268│ 236│ 235│ 235│ 227│ 180│ 227│ 217│ 167
July │ 282│ 155│ 238│ 263│ 263│ 203│ 192│ 234│ 240│ 183
Aug. │ 293│ 273│ 293│ 267│ 235│ 248│ 234│ 294│ 246│ 206
Sep. │ 341│ 277│ 315│ 297│ 319│ 267│ 278│ 283│ 226│ 222
Oct. │ 339│ 362│ 356│ 357│ 369│ 288│ 293│ 331│ 320│ 272
Nov. │ 302│ 339│ 320│ 328│ 272│ 308│ 335│ 319│ 293│ 232
Dec. │ 283│ 282│ 319│ 297│ 283│ 289│ 315│ 254│ 242│ 256
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 3,432│ 3,259│ 3,412│ 3,328│ 3,305│ 3,041│ 2,928│ 3,053│ 2,932│ 2,653
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 240│ 215│ 190│ 227│ 309│ 261│ 364│ │ │
Feb. │ 176│ 194│ 131│ 194│ 206│ 280│ 257│ │ │
Mar. │ 190│ 190│ 176│ 186│ 171│ 304│ 213│ │ │
Apr. │ 212│ 184│ 162│ 156│ 204│ 303│ 226│ │ │
May │ 178│ 161│ 170│ 199│ 237│ 228│ 232│ │ │
June │ 200│ 177│ 179│ 177│ 218│ 245│ 244│ │ │
July │ 184│ 162│ 165│ 180│ 206│ 314│ 286│ │ │
Aug. │ 184│ 186│ 200│ 231│ 233│ 265│ 238│ │ │
Sep. │ 238│ 213│ 205│ 254│ 318│ 389│ 293│ │ │
Oct. │ 242│ 222│ 202│ 332│ 415│ 414│ 396│ │ │
Nov. │ 217│ 119│ 243│ 318│ 376│ 402│ 386│ │ │
Dec. │ 252│ 214│ 239│ 276│ 322│ 385│ 369│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 2,513│ 2,237│ 2,262│ 2,730│ 3,215│ 3,790│ 3,504│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MONTHLY SHEEP RECEIPTS AT SIX MARKETS.
(Chicago, Omaha, Kansas City, St. Louis, St. Joseph, Sioux City.)
(000 omitted.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 603│ 677│ 703│ 820│ 835│ 661│ 628│ 692│ 893│ 1,108
Feb. │ 573│ 772│ 683│ 732│ 748│ 654│ 641│ 584│ 758│ 930
Mar. │ 628│ 792│ 760│ 888│ 766│ 610│ 792│ 607│ 858│ 956
Apr. │ 628│ 632│ 779│ 775│ 788│ 641│ 654│ 507│ 767│ 835
May │ 543│ 574│ 790│ 719│ 570│ 573│ 504│ 607│ 825│ 710
June │ 497│ 597│ 563│ 567│ 542│ 660│ 631│ 661│ 840│ 713
July │ 574│ 334│ 659│ 660│ 611│ 643│ 661│ 834│ 845│ 878
Aug. │ 778│ 765│ 794│ 831│ 747│ 852│ 926│ 1,267│ 1,165│ 1,128
Sep. │ 1,097│ 1,125│ 1,233│ 1,083│ 1,146│ 1,376│ 1,285│ 1,721│ 1,684│ 1,640
Oct. │ 1,204│ 1,150│ 1,306│ 1,335│ 1,258│ 1,044│ 1,376│ 1,910│ 2,139│ 2,051
Nov. │ 961│ 812│ 830│ 926│ 658│ 861│ 876│ 1,317│ 1,196│ 1,190
Dec. │ 681│ 543│ 609│ 701│ 600│ 797│ 743│ 756│ 866│ 967
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 8,767│ 8,773│ 9,709│10,036│ 9,269│ 9,372│ 9,717│11,463│12,834│13,106
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 961│ 1,060│ 914│ 861│ 893│ 821│ 899│ │ │
Feb. │ 858│ 965│ 794│ 818│ 800│ 690│ 647│ │ │
Mar. │ 787│ 1,032│ 849│ 723│ 790│ 747│ 675│ │ │
Apr. │ 859│ 964│ 635│ 643│ 673│ 600│ 737│ │ │
May │ 812│ 782│ 534│ 682│ 475│ 586│ 703│ │ │
June │ 776│ 765│ 569│ 717│ 512│ 604│ 806│ │ │
July │ 886│ 772│ 682│ 694│ 561│ 788│ 1,191│ │ │
Aug. │ 1,030│ 1,070│ 1,010│ 1,087│ 707│ 1,088│ 1,671│ │ │
Sep. │ 2,018│ 1,716│ 1,526│ 1,431│ 1,205│ 1,945│ 2,232│ │ │
Oct. │ 1,996│ 1,630│ 1,127│ 1,544│ 1,324│ 1,745│ 1,591│ │ │
Nov. │ 1,195│ 823│ 974│ 947│ 792│ 1,059│ 1,199│ │ │
Dec. │ 1,075│ 887│ 842│ 868│ 851│ 854│ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │13,252│12,466│10,456│11,015│ 9,583│11,527│ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MONTHLY SHEEP RECEIPTS AT CHICAGO.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 361│ 356│ 344│ 370│ 418│ 304│ 287│ 328│ 418│ 565
Feb. │ 301│ 432│ 304│ 337│ 314│ 282│ 250│ 222│ 341│ 427
Mar. │ 304│ 375│ 346│ 375│ 273│ 263│ 308│ 225│ 319│ 390
Apr. │ 275│ 301│ 342│ 367│ 339│ 285│ 276│ 221│ 298│ 349
May │ 232│ 289│ 361│ 363│ 260│ 275│ 223│ 259│ 375│ 322
June │ 324│ 332│ 285│ 324│ 261│ 353│ 301│ 329│ 403│ 261
July │ 318│ 217│ 335│ 335│ 331│ 339│ 363│ 444│ 446│ 456
Aug. │ 427│ 421│ 365│ 409│ 360│ 403│ 420│ 570│ 495│ 532
Sep. │ 555│ 467│ 606│ 467│ 444│ 540│ 534│ 686│ 653│ 658
Oct. │ 586│ 575│ 691│ 633│ 575│ 412│ 597│ 896│ 886│ 803
Nov. │ 519│ 422│ 416│ 439│ 323│ 460│ 474│ 648│ 611│ 650
Dec. │ 381│ 318│ 345│ 387│ 319│ 435│ 409│ 402│ 492│ 544
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 4,583│ 4,505│ 4,737│ 4,806│ 4,217│ 4,351│ 4,442│ 5,230│ 5,737│ 6,057
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 450│ 485│ 385│ 334│ 306│ 289│ 442│ │ │
Feb. │ 353│ 458│ 233│ 306│ 282│ 252│ 275│ │ │
Mar. │ 332│ 460│ 259│ 279│ 306│ 258│ 243│ │ │
Apr. │ 359│ 400│ 232│ 270│ 307│ 245│ 276│ │ │
May │ 355│ 343│ 213│ 282│ 198│ 237│ 271│ │ │
June │ 369│ 341│ 226│ 310│ 213│ 252│ 342│ │ │
July │ 428│ 375│ 277│ 298│ 230│ 340│ 458│ │ │
Aug. │ 465│ 443│ 301│ 410│ 242│ 417│ 483│ │ │
Sep. │ 817│ 650│ 347│ 440│ 372│ 668│ 699│ │ │
Oct. │ 804│ 681│ 317│ 577│ 469│ 671│ 716│ │ │
Nov. │ 622│ 271│ 372│ 438│ 333│ 574│ 559│ │ │
Dec. │ 550│ 469│ 346│ 347│ 336│ 426│ 481│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 5,904│ 5,376│ 3,508│ 4,291│ 3,594│ 4,629│ 5,245│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CORN RECEIPTS AT CHICAGO.
(In bushels—000 omitted.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 9,300│ 7,500│10,200│ 8,700│11,500│12,400│ 8,800│ 8,800│12,700│12,900
Feb. │ 6,800│ 7,300│ 6,800│ 7,900│13,200│ 7,200│ 7,800│12,000│10,100│15,200
Mar. │ 6,500│ 5,400│14,800│ 6,000│11,300│ 7,900│ 9,700│ 9,700│ 9,900│10,100
Apr. │ 2,500│ 4,500│ 8,300│ 4,200│ 8,000│ 6,500│ 3,000│ 4,000│ 4,700│ 3,000
May │ 5,800│ 4,700│ 4,700│ 7,000│ 6,400│ 6,200│ 6,000│ 3,000│ 9,100│ 5,900
June │12,300│13,200│11,900│14,800│19,400│ 9,800│ 8,600│ 8,600│15,400│12,900
July │ 6,700│ 6,600│10,300│ 8,700│ 8,600│ 5,100│ 6,500│ 6,000│ 5,100│ 5,900
Aug. │ 5,500│ 7,300│ 8,500│ 4,700│ 5,600│ 6,600│ 6,700│ 8,000│ 6,700│ 6,400
Sep. │13,600│14,800│11,500│13,000│14,600│ 8,300│10,700│13,000│11,200│12,400
Oct. │10,200│ 3,500│ 5,000│ 5,100│13,300│ 3,600│ 7,100│ 8,400│ 6,900│ 7,600
Nov. │ 6,600│ 7,400│ 8,000│ 6,400│ 4,100│ 5,300│ 5,900│ 8,200│ 7,800│ 7,000
Dec. │ 5,800│16,800│10,600│ 8,400│ 9,100│12,500│10,300│13,900│ 8,900│13,300
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │21,900│ 8,800│20,900│12,000│11,100│ 5,800│ 8,000│ │ │
Feb. │21,500│ 8,400│ 9,400│15,700│ 7,200│10,600│ 3,700│ │ │
Mar. │11,000│ 7,600│ 4,900│ 8,200│ 8,000│14,000│ 3,800│ │ │
Apr. │ 3,600│ 2,100│ 3,900│ 4,700│ 4,900│ 8,500│ 6,100│ │ │
May │ 5,100│ 2,500│ 4,300│ 7,200│ 5,100│ 5,900│ 3,300│ │ │
June │16,300│ 9,700│ 4,900│ 3,900│ 8,400│ 7,700│ 8,100│ │ │
July │ 6,400│ 5,100│ 6,500│10,600│ 5,300│10,000│ 4,900│ │ │
Aug. │ 4,300│ 9,200│ 6,200│ 6,400│ 4,100│ 5,300│ 3,300│ │ │
Sep. │15,200│ 8,100│ 9,200│ 9,400│ 2,900│ 9,500│ 7,500│ │ │
Oct. │ 5,800│ 5,900│ 8,100│ 5,400│ 3,900│11,600│ 4,800│ │ │
Nov. │ 2,800│12,500│ 7,600│ 8,600│ 4,900│ 6,100│ 4,900│ │ │
Dec. │13,800│25,700│ 9,700│10,300│ 6,200│ 5,500│ 7,500│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
OATS RECEIPTS AT CHICAGO.
(In bushels—000 omitted.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 9,100│ 5,300│ 3,600│ 8,100│ 6,700│ 7,600│ 6,300│ 5,400│ 8,900│ 5,200
Feb. │ 6,900│ 6,800│ 3,900│ 5,800│ 5,500│ 6,200│ 5,600│ 6,700│ 5,900│ 7,100
Mar. │ 8,100│ 8,900│ 9,100│ 6,200│ 8,300│11,300│ 8,100│ 8,300│ 5,600│ 7,400
Apr. │ 6,000│ 4,100│ 3,900│ 6,400│ 9,100│ 7,700│ 5,500│ 5,800│ 5,600│ 6,100
May │ 5,300│ 3,700│ 4,200│ 6,300│ 8,400│ 8,300│ 7,300│ 6,400│ 8,900│ 7,400
June │ 7,900│ 4,500│ 6,300│ 7,000│ 5,800│ 5,600│ 7,500│ 6,500│ 9,800│ 6,000
July │ 8,600│ 3,900│ 6,300│ 5,500│ 4,200│ 5,200│ 4,000│ 6,400│ 6,900│ 5,800
Aug. │ 8,200│11,700│12,900│10,100│ 8,700│ 8,400│13,100│24,400│13,300│14,600
Sep. │ 5,800│ 7,500│10,800│ 8,800│11,500│10,400│ 8,700│ 7,200│ 8,300│17,700
Oct. │ 8,800│ 6,000│14,000│12,000│11,600│ 8,900│ 8,500│ 7,700│ 9,200│17,900
Nov. │ 6,900│ 4,400│ 9,300│ 7,300│ 5,700│ 5,900│ 7,600│ 6,900│ 5,400│13,500
Dec. │ 6,300│ 3,500│ 8,200│ 6,300│ 8,500│ 6,900│ 5,700│10,300│ 6,300│ 9,800
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │11,300│ 8,100│11,700│12,900│ 7,800│ 5,700│ 6,600│ │ │
Feb. │ 9,100│ 6,600│11,400│11,700│ 7,000│ 8,800│ 4,300│ │ │
Mar. │ 8,300│ 8,300│11,600│ 8,600│10,700│ 9,700│ 3,700│ │ │
Apr. │ 7,600│ 5,900│ 6,100│ 9,500│ 9,700│13,600│ 5,500│ │ │
May │10,800│ 6,400│ 5,500│17,000│ 8,600│ 9,000│ 5,800│ │ │
June │16,600│ 9,200│ 6,100│ 9,200│ 8,500│ 8,200│10,100│ │ │
July │10,000│10,600│ 7,500│ 8,400│ 7,900│13,500│11,000│ │ │
Aug. │13,900│23,700│16,700│31,700│14,900│22,800│12,300│ │ │
Sep. │12,900│16,700│18,200│14,300│14,800│11,400│ 8,900│ │ │
Oct. │ 9,000│17,900│12,400│18,200│13,700│10,900│ 9,400│ │ │
Nov. │ 6,900│11,800│16,300│12,400│13,600│11,000│ 5,500│ │ │
Dec. │ 8,100│13,200│10,200│ 8,500│ 8,700│12,500│ 5,600│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF HOGS AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 208│ 206│ 213│ 217│ 223│ 215│ 203│ 210│ 226│ 212
Feb. │ 209│ 205│ 209│ 215│ 222│ 212│ 204│ 213│ 230│ 217
Mar. │ 215│ 206│ 211│ 218│ 228│ 212│ 206│ 218│ 239│ 218
Apr. │ 222│ 208│ 216│ 221│ 234│ 219│ 212│ 227│ 241│ 227
May │ 227│ 214│ 219│ 226│ 235│ 218│ 216│ 239│ 242│ 232
June │ 231│ 221│ 222│ 226│ 236│ 217│ 219│ 242│ 236│ 235
July │ 235│ 226│ 228│ 231│ 240│ 222│ 225│ 246│ 233│ 239
Aug. │ 248│ 239│ 236│ 241│ 250│ 224│ 232│ 255│ 239│ 240
Sep. │ 257│ 244│ 241│ 248│ 253│ 219│ 232│ 259│ 224│ 235
Oct. │ 241│ 230│ 234│ 237│ 235│ 207│ 227│ 253│ 212│ 226
Nov. │ 228│ 232│ 230│ 229│ 209│ 213│ 225│ 232│ 208│ 222
Dec. │ 219│ 228│ 221│ 225│ 214│ 211│ 214│ 224│ 213│ 223
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 227│ 220│ 222│ 226│ 231│ 216│ 218│ 235│ 232│ 226
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 226│ 216│ 223│ 195│ 199│ 216│ 228│ 229│ │
Feb. │ 230│ 224│ 224│ 204│ 204│ 231│ 232│ 231│ │
Mar. │ 240│ 233│ 231│ 214│ 209│ 238│ 230│ │ │
Apr. │ 242│ 233│ 233│ 219│ 213│ 242│ 230│ │ │
May │ 242│ 236│ 233│ 220│ 217│ 238│ 232│ │ │
June │ 244│ 237│ 231│ 226│ 225│ 235│ 233│ │ │
July │ 243│ 244│ 238│ 231│ 232│ 243│ 242│ │ │
Aug. │ 233│ 248│ 246│ 232│ 233│ 243│ 251│ │ │
Sep. │ 222│ 242│ 235│ 223│ 231│ 247│ 254│ │ │
Oct. │ 209│ 229│ 204│ 210│ 212│ 233│ 237│ │ │
Nov. │ 207│ 218│ 187│ 195│ 209│ 226│ 226│ │ │
Dec. │ 213│ 226│ 190│ 193│ 211│ 223│ 224│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 228│ 231│ 219│ 210│ 213│ 234│ 233│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF HOGS AT OMAHA.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 235│ 231│ 256│ 234│ 244│ 233│ 231│ 229│ 242│ 247
Feb. │ 242│ 250│ 236│ 226│ 237│ 228│ 223│ 226│ 243│ 222
Mar. │ 236│ 235│ 239│ 228│ 244│ 230│ 227│ 231│ 254│ 221
Apr. │ 247│ 236│ 236│ 230│ 252│ 233│ 233│ 232│ 244│ 231
May │ 248│ 232│ 237│ 232│ 250│ 228│ 232│ 245│ 254│ 233
June │ 253│ 233│ 241│ 232│ 250│ 226│ 229│ 249│ 245│ 234
July │ 254│ 232│ 233│ 233│ 254│ 227│ 236│ 250│ 242│ 232
Aug. │ 265│ 244│ 238│ 246│ 260│ 229│ 239│ 259│ 253│ 238
Sep. │ 273│ 252│ 245│ 253│ 263│ 226│ 240│ 272│ 265│ 241
Oct. │ 278│ 251│ 251│ 254│ 260│ 222│ 242│ 284│ 262│ 235
Nov. │ 268│ 267│ 252│ 248│ 244│ 238│ 248│ 274│ 246│ 235
Dec. │ 265│ 265│ 248│ 246│ 249│ 237│ 234│ 262│ 225│ 238
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 234│ 224│ 241│ 216│ 218│ 240│ 229│ │ │
Feb. │ 229│ 232│ 238│ 216│ 223│ 243│ 235│ │ │
Mar. │ 238│ 238│ 244│ 224│ 226│ 249│ 236│ │ │
Apr. │ 241│ 242│ 252│ 228│ 229│ 242│ 235│ │ │
May │ 244│ 247│ 256│ 232│ 233│ 246│ 238│ │ │
June │ 245│ 250│ 248│ 236│ 239│ 248│ 244│ │ │
July │ 247│ 255│ 249│ 243│ 245│ 261│ 245│ │ │
Aug. │ 244│ 261│ 264│ 247│ 245│ 260│ 255│ │ │
Sep. │ 249│ 268│ 274│ 249│ 256│ 264│ 275│ │ │
Oct. │ 233│ 265│ 265│ 246│ 257│ 264│ 281│ │ │
Nov. │ 219│ 253│ 252│ 224│ 260│ 240│ 271│ │ │
Dec. │ 218│ 242│ 230│ 211│ 243│ 227│ 249│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF HOGS AT ST. LOUIS.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1910. │1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 178│ 188│ 158│ 182│ 169│ 170│ 172│ 175│ 190│ 189
Feb. │ 165│ 195│ 162│ 180│ 177│ 174│ 173│ 179│ 190│ 184
Mar. │ 171│ 202│ 167│ 170│ 174│ 176│ 171│ 175│ 189│ 173
Apr. │ 176│ 197│ 165│ 179│ 180│ 175│ 171│ 171│ 186│ 176
May │ 198│ 170│ 191│ 181│ 174│ 175│ 178│ 175│ 181│ 182
June │ 206│ 180│ 196│ 183│ 177│ 180│ 180│ 173│ 180│ 182
July │ 184│ 190│ 174│ 185│ 174│ 180│ 181│ 177│ 182│ 181
Aug. │ 193│ 185│ 181│ 183│ 174│ 186│ 176│ 175│ 174│ 183
Sep. │ 215│ 186│ 196│ 182│ 173│ 183│ 168│ 182│ 174│ 181
Oct. │ 205│ 173│ 182│ 182│ 169│ 165│ 162│ 181│ 178│ 176
Nov. │ 205│ 169│ 178│ 178│ 175│ 169│ 164│ 181│ 182│ 183
Dec. │ 191│ 159│ 176│ 169│ 166│ 174│ 172│ 185│ 188│ 181
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Y’rly av.│ 192│ 183│ 177│ 179│ 173│ 175│ 172│ 177│ 183│ 181
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF HOGS AT KANSAS CITY.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ │ │ │ │ │ │ │ │ │
February │ │ │ │ │ │ │ │ │ │
March │ │ │ │ │ │ │ │ │ │
April │ │ │ │ │ │ │ │ │ │
May │ │ │ │ │ │ │ │ │ │ 203
June │ │ │ │ │ │ │ │ │ │ 203
July │ │ │ │ │ │ │ │ │ │ 205
August │ │ │ │ │ │ │ │ │ │ 204
September│ │ │ │ │ │ │ │ │ │ 199
October │ │ │ │ │ │ │ │ │ │ 198
November │ │ │ │ │ │ │ │ │ │ 206
December │ │ │ │ │ │ │ │ │ │ 205
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 218│ 207│ 208│ 211│ 212│ 200│ 199│ 210│ 204│ 200
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 213│ 183│ 201│ 204│ 189│ 218│ 188│ │ │
February │ 212│ 193│ 204│ 199│ 189│ 221│ 201│ │ │
March │ 213│ 200│ 201│ 203│ 192│ 213│ 202│ │ │
April │ 216│ 195│ 204│ 204│ 191│ 218│ 194│ │ │
May │ 208│ 197│ 204│ 202│ 193│ 213│ 193│ │ │
June │ 206│ 196│ 197│ 202│ 196│ 207│ 194│ │ │
July │ 202│ 196│ 199│ 204│ 190│ 206│ 194│ │ │
August │ 193│ 192│ 202│ 188│ 180│ 191│ 193│ │ │
September│ 190│ 192│ 198│ 181│ 183│ 172│ 181│ │ │
October │ 185│ 191│ 192│ 171│ 195│ 173│ 175│ │ │
November │ 178│ 186│ 194│ 172│ 198│ 185│ 187│ │ │
December │ 178│ 188│ 205│ 183│ 206│ 194│ 189│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 201│ 191│ 200│ 193│ 192│ 201│ 191│ │ │
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF HOGS AT ST. JOSEPH.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 237│ 204│ 218│ 206│ 218│ 230│ 213│ │ │
February │ 227│ 215│ 220│ 215│ 226│ 242│ 218│ │ │
March │ 229│ 223│ 230│ 221│ 230│ 243│ 228│ │ │
April │ 229│ 216│ 240│ 227│ 225│ 241│ 228│ │ │
May │ 228│ 219│ 236│ 218│ 221│ 239│ 224│ │ │
June │ 232│ 213│ 240│ 217│ 223│ 230│ 224│ │ │
July │ 206│ 228│ 234│ 226│ 228│ 229│ 229│ │ │
August │ 232│ 231│ 245│ 239│ 226│ 234│ 237│ │ │
September│ 229│ 240│ 239│ 230│ 243│ 241│ 247│ │ │
October │ 218│ 218│ 217│ 215│ 233│ 226│ 234│ │ │
November │ 192│ 193│ 209│ 205│ 234│ 206│ 222│ │ │
December │ 192│ 210│ 210│ 206│ 228│ 205│ 219│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 211│ 217│ 228│ 219│ 228│ 230│ 227│ │ │
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF HOGS AT SIOUX CITY.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
│ │ │ │ │ │ │ │ │ │
January │ │ │ │ │ │ │ │ │ │ 215
February │ │ │ │ │ │ │ │ │ │ 216
March │ │ │ │ │ │ │ │ │ │ 223
April │ │ │ │ │ │ │ │ │ │ 228
May │ │ │ │ │ │ │ │ │ │ 232
June │ │ │ │ │ │ │ │ │ │ 237
July │ │ │ │ │ │ │ │ │ │ 237
August │ │ │ │ │ │ │ │ │ │ 250
September│ │ │ │ │ │ │ │ │ │ 255
October │ │ │ │ │ │ │ │ │ │ 252
November │ │ │ │ │ │ │ │ │ │ 266
December │ │ │ │ │ │ │ │ │ │ 258
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 248│ 247│ 244│ 248│ 249│ 238│ 233│ 250│ 250│ 239
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 249│ 220│ 232│ 215│ 209│ 200│ 231│ │ │
February │ 239│ 228│ 226│ 220│ 211│ 211│ 230│ │ │
March │ 250│ 241│ 242│ 225│ 217│ 244│ 238│ │ │
April │ 256│ 240│ 248│ 231│ 225│ 248│ 240│ │ │
May │ 261│ 246│ 251│ 236│ 221│ 242│ 247│ │ │
June │ 257│ 254│ 251│ 246│ 232│ 248│ 251│ │ │
July │ 256│ 249│ 256│ 250│ 238│ 258│ 251│ │ │
August │ 251│ 262│ 259│ 249│ 239│ 256│ 265│ │ │
September│ 238│ 268│ 270│ 249│ 234│ 267│ 273│ │ │
October │ 210│ 286│ 262│ 250│ 231│ 270│ 267│ │ │
November │ 211│ 266│ 228│ 236│ 226│ 261│ 268│ │ │
December │ 217│ 255│ 222│ 215│ 235│ 242│ 242│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 241│ 251│ 246│ 231│ 225│ 248│ 250│ │ │
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF CATTLE AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 1,044│ 1,086│ 1,066│ 1,041│ 1,005│ 1,049│ 1,025│ 1,019│ 987│ 1,018
February │ 1,064│ 1,080│ 1,068│ 1,046│ 1,025│ 1,069│ 1,042│ 1,010│ 1,031│ 990
March │ 1,065│ 1,068│ 1,000│ 1,023│ 1,012│ 1,020│ 1,022│ 995│ 1,030│ 991
April │ 1,020│ 1,033│ 938│ 981│ 973│ 1,058│ 1,055│ 1,036│ 1,068│ 999
May │ 1,040│ 1,015│ 950│ 962│ 960│ 1,064│ 1,082│ 1,024│ 1,080│ 994
June │ 1,062│ 1,008│ 988│ 1,001│ 977│ 1,040│ 1,092│ 1,006│ 1,036│ 999
July │ 1,031│ 1,044│ 1,043│ 1,008│ 983│ 1,061│ 1,074│ 980│ 1,017│ 1,003
August │ 1,045│ 1,011│ 1,033│ 1,005│ 966│ 1,057│ 1,022│ 939│ 995│ 958
September│ 988│ 1,011│ 1,020│ 993│ 930│ 1,022│ 994│ 949│ 985│ 953
October │ 1,005│ 966│ 1,020│ 964│ 945│ 1,005│ 974│ 947│ 966│ 951
November │ 1,041│ 1,015│ 1,046│ 993│ 1,001│ 991│ 995│ 990│ 889│ 957
December │ 1,078│ 1,035│ 1,048│ 995│ 1,021│ 1,019│ 999│ 995│ 972│ 980
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 1,039│ 1,032│ 1,019│ 1,000│ 979│ 1,036│ 1,036│ 990│ 997│ 981
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 1,002│ 996│ 1,027│ 1,044│ 980│ 946│ 885│ │ │
February │ 1,006│ 1,013│ 1,041│ 1,038│ 962│ 953│ 932│ │ │
March │ 929│ 1,012│ 1,055│ 1,025│ 992│ 956│ 918│ │ │
April │ 1,040│ 1,036│ 1,089│ 1,025│ 969│ 975│ 946│ │ │
May │ 1,040│ 1,021│ 1,075│ 1,010│ 982│ 914│ 937│ │ │
June │ 1,069│ 1,008│ 1,076│ 1,000│ 961│ 966│ 966│ │ │
July │ 1,037│ 1,000│ 1,032│ 1,009│ 957│ 912│ 917│ │ │
August │ 1,021│ 999│ 1,050│ 980│ 931│ 943│ 959│ │ │
September│ 992│ 981│ 1,047│ 943│ 930│ 914│ 896│ │ │
October │ 980│ 958│ 1,024│ 950│ 873│ 921│ 954│ │ │
November │ 1,011│ 1,015│ 1,017│ 954│ 911│ 930│ 929│ │ │
December │ 997│ 1,003│ 1,037│ 957│ 911│ 933│ 935│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 1,008│ 1,002│ 1,046│ 987│ 939│ 941│ 936│ │ │
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
AVERAGE WEIGHT OF SHEEP AND LAMBS AT CHICAGO.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 88│ 93│ 89│ 86│ 86│ 85│ 84│ 83│ 90│ 82
February │ 86│ 89│ 89│ 83│ 86│ 84│ 83│ 82│ 88│ 82
March │ 82│ 87│ 88│ 82│ 86│ 86│ 84│ 82│ 86│ 84
April │ 87│ 88│ 89│ 82│ 85│ 84│ 84│ 80│ 85│ 82
May │ 85│ 86│ 87│ 82│ 84│ 85│ 81│ 82│ 84│ 80
June │ 80│ 82│ 82│ 80│ 81│ 82│ 77│ 80│ 75│ 76
July │ 80│ 83│ 82│ 80│ 81│ 79│ 76│ 80│ 76│ 75
August │ 81│ 82│ 79│ 79│ 81│ 79│ 80│ 80│ 78│ 75
September│ 77│ 78│ 78│ 78│ 82│ 79│ 79│ 79│ 72│ 77
October │ 79│ 78│ 75│ 79│ 80│ 79│ 80│ 79│ 73│ 78
November │ 82│ 85│ 80│ 80│ 81│ 81│ 81│ 82│ 78│ 82
December │ 87│ 88│ 84│ 85│ 84│ 82│ 79│ 81│ 83│ 85
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 83│ 84│ 83│ 81│ 83│ 82│ 83│ 81│ 79│ 79
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
January │ 87│ 81│ 82│ 83│ 81│ 80│ 79│ │ │
February │ 85│ 81│ 81│ 85│ 82│ 84│ 81│ │ │
March │ 84│ 84│ 82│ 87│ 85│ 85│ 80│ │ │
April │ 85│ 83│ 83│ 85│ 84│ 84│ 83│ │ │
May │ 82│ 82│ 81│ 83│ 83│ 83│ 82│ │ │
June │ 77│ 74│ 72│ 74│ 72│ 73│ 75│ │ │
July │ 76│ 76│ 73│ 75│ 71│ 73│ 73│ │ │
August │ 78│ 76│ 79│ 76│ 74│ 78│ 76│ │ │
September│ 75│ 73│ 75│ 74│ 74│ 75│ 72│ │ │
October │ 73│ 71│ 78│ 74│ 73│ 72│ 72│ │ │
November │ 78│ 83│ 81│ 78│ 77│ 72│ 73│ │ │
December │ 80│ 83│ 82│ 79│ 82│ 79│ 76│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Yearly │ 79│ 78│ 79│ 79│ 78│ 78│ 76│ │ │
aver. │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
PERCENTAGE OF DIFFERENT GRADES OF CATTLE SLAUGHTERED AT CENTRAL MARKETS.
│July. │August.│September.│October. │November.│December.
──────────────┼──────┼───────┼──────────┼─────────┼─────────┼─────────
Steers— │ │ │ │ │ │
1,500 │ .236│ .209│ .427│ .104│ .068│ .058
pounds │ │ │ │ │ │
and up │ │ │ │ │ │
1,300 to │ 1.492│ 1.276│ 1.550│ 1.241│ .844│ .738
1,500 │ │ │ │ │ │
pounds │ │ │ │ │ │
1,100 to │ 8.709│ 8.134│ 6.548│ 6.047│ 6.796│ 6.255
1,300 │ │ │ │ │ │
pounds │ │ │ │ │ │
950 to │16.368│ 13.421│ 11.573│ 9.524│ 12.174│ 13.387
1,100 │ │ │ │ │ │
pounds │ │ │ │ │ │
950 pounds │ 3.790│ 2.801│ 2.994│ 2.263│ 2.819│ 4.131
and down │ │ │ │ │ │
Western, │ 8.623│ 17.432│ 17.091│ 17.358│ 13.762│ 7.425
etc. │ │ │ │ │ │
Canners │ 5.674│ 1.592│ 1.756│ 2.261│ 1.572│ 3.582
Baby beef │ 2.066│ 1.049│ .661│ .452│ .847│ 1.673
Total │46.956│ 45.914│ 42.600│ 39.250│ 38.856│ 37.249
steers │ │ │ │ │ │
Bulls— │ │ │ │ │ │
Native │ 2.930│ 2.270│ 2.180│ 1.760│ 1.570│ 1.720
Western, │ 2.947│ .581│ 1.366│ .748│ .774│ .687
etc. │ │ │ │ │ │
Canners │ 1.904│ 1.001│ .990│ .806│ 1.694│ .428
Total │ 7.781│ 3.852│ 4.536│ 3.314│ 4.038│ 2.835
bulls │ │ │ │ │ │
Cows— │ │ │ │ │ │
Native or │13.940│ 11.450│ 11.890│ 10.600│ 10.510│ 15.990
shipper │ │ │ │ │ │
Western │ 1.584│ 6.782│ 5.234│ 7.566│ 9.195│ 6.488
Canner │17.874│ 21.972│ 12.050│ 29.077│ 26.097│ 25.176
Total │33.398│ 40.204│ 29.174│ 47.243│ 45.802│ 47.654
cows │ │ │ │ │ │
Heifers— │ │ │ │ │ │
Native │ 6.820│ 7.060│ 6.820│ 6.550│ 6.880│ 9.340
Western, │ 1.076│ 1.854│ 4.342│ 2.558│ 2.706│ 1.846
etc. │ │ │ │ │ │
Canners │ 1.904│ .399│ 11.734│ .476│ 1.166│ .718
Baby beef │ 2.053│ .821│ .719│ .608│ .533│ .353
Total │11.853│ 10.134│ 23.615│ 10.192│ 11.285│ 12.257
heifers │ │ │ │ │ │
──────────────┴──────┴───────┴──────────┴─────────┴─────────┴─────────
The above figures were compiled by Stephen Chase, of the Food
Administration, for the last half of 1918. No other years are available.
Note the large proportion of our beef supply which comes from canner
cows and light steers.
YEARLY SHIPMENTS OF STOCKER AND FEEDER CATTLE FROM OMAHA.
(000 omitted)
════════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1904.│1905.│1906.│1907.│1908.│1909.│1910.│1911.
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Nebraska │ 131│ 137│ 125│ 111│ 114│ 125│ 135│ 155
Iowa │ 92│ 122│ 143│ 160│ 125│ 148│ 176│ 202
Kansas │ 1│ 2│ 1│ 1│ 4│ 3│ 10│
Illinois │ 8│ 8│ 9│ 32│ 36│ 56│ 62│ 47
Missouri │ 11│ 19│ 12│ 18│ 24│ 35│ 35│ 26
South Dakota│ 5│ 22│ 13│ 31│ 12│ 7│ 3│ 1
Colorado │ │ │ │ │ │ 1│ 1│ 1
Wyoming │ 1│ │ 1│ 1│ │ 1│ 1│ 1
Other states│ 9│ 6│ 5│ 5│ 3│ 4│ 9│ 8
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │ 257│ 316│ 308│ 359│ 318│ 380│ 432│ 443
────────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
════════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Nebraska │ 150│ 126│ 171│ 224│ 279│ 284│ 229│ 293
Iowa │ 182│ 213│ 152│ 172│ 207│ 199│ 190│ 282
Kansas │ 2│ 1│ 1│ 1│ 1│ 2│ 1│ 3
Illinois │ 39│ 27│ 20│ 27│ 18│ 22│ 36│ 31
Missouri │ 21│ 10│ 11│ 19│ 7│ 11│ 9│ 13
South Dakota│ 8│ 16│ 9│ 15│ 12│ 22│ 33│ 16
Colorado │ 4│ 1│ 2│ 2│ 1│ 1│ 2│ 2
Wyoming │ 6│ 4│ 4│ 10│ 3│ 3│ 7│ 4
Other states│ 5│ 8│ 4│ 7│ 5│ 16│ 9│ 11
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │ 416│ 405│ 375│ 475│ 533│ 561│ 517│ 654
────────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
MONTHLY SHIPMENTS OF STOCKER AND FEEDER CATTLE FROM OMAHA.
(000 omitted)
════════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1904.│1905.│1906.│1907.│1908.│1909.│1910.│1911.
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
January │ 18│ 18│ 19│ 26│ 25│ 32│ 18│ 36
February │ 13│ 13│ 22│ 19│ 19│ 22│ 21│ 29
March │ 19│ 30│ 20│ 22│ 22│ 25│ 34│ 27
April │ 16│ 16│ 14│ 17│ 16│ 19│ 22│ 15
May │ 11│ 13│ 13│ 18│ 12│ 14│ 16│ 14
June │ 9│ 21│ 13│ 31│ 18│ 12│ 15│ 21
July │ 6│ 10│ 11│ 16│ 11│ 13│ 22│ 24
August │ 14│ 24│ 23│ 33│ 25│ 38│ 51│ 56
September │ 40│ 49│ 42│ 58│ 49│ 69│ 87│ 64
October │ 49│ 64│ 55│ 75│ 55│ 63│ 68│ 81
November │ 36│ 39│ 49│ 24│ 32│ 46│ 45│ 49
December │ 25│ 28│ 27│ 20│ 34│ 28│ 30│ 28
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │ 257│ 316│ 308│ 359│ 318│ 380│ 432│ 443
────────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
════════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
January │ 23│ 30│ 30│ 35│ 42│ 43│ 32│ 40
February │ 24│ 24│ 24│ 20│ 42│ 32│ 27│ 30
March │ 20│ 21│ 27│ 29│ 44│ 34│ 33│ 31
April │ 22│ 20│ 22│ 32│ 24│ 29│ 31│ 27
May │ 16│ 18│ 15│ 16│ 16│ 24│ 32│ 22
June │ 11│ 10│ 11│ 13│ 15│ 22│ 19│ 11
July │ 15│ 11│ 10│ 10│ 13│ 17│ 18│ 31
August │ 39│ 41│ 31│ 28│ 49│ 39│ 45│ 75
September │ 73│ 78│ 72│ 75│ 72│ 78│ 91│ 123
October │ 98│ 80│ 72│ 104│ 105│ 100│ 80│ 135
November │ 38│ 43│ 23│ 70│ 67│ 101│ 65│ 88
December │ 38│ 29│ 37│ 44│ 44│ 44│ 44│ 43
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │ 416│ 405│ 375│ 475│ 533│ 561│ 517│ 654
────────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
YEARLY SHIPMENTS OF STOCKER AND FEEDER SHEEP FROM OMAHA.
(000 omitted)
════════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1907.│1908.│1909.│1910.│1911.│1912.│1913.
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Nebraska │ 286│ 326│ 316│ 571│ 474│ 305│ 304
Iowa │ 306│ 331│ 294│ 551│ 545│ 483│ 715
Illinois │ 263│ 281│ 198│ 279│ 264│ 383│ 275
Missouri │ 82│ 34│ 22│ 96│ 94│ 57│ 52
Michigan │ 27│ 55│ 66│ 116│ 62│ 50│ 35
Minnesota │ 19│ 28│ 18│ 3│ 9│ 4│ 33
Wisconsin │ 9│ 6│ 4│ 18│ 23│ 26│ 19
Kansas │ 6│ 8│ 19│ 20│ 21│ 10│ 3
Indiana │ │ 6│ 8│ 9│ │ │
South Dakota│ 1│ 5│ 7│ 18│ 10│ 12│ 23
Ohio │ │ 5│ 7│ 8│ │ │
Other states│ 10│ 2│ 2│ 4│ 17│ 20│ 12
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │1,010│1,087│ 960│1,704│1,519│1,350│1,469
────────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
════════════╤═════╤═════╤═════╤═════╤═════╤═════
│1914.│1915.│1916.│1917.│1918.│1919.
────────────┼─────┼─────┼─────┼─────┼─────┼─────
Nebraska │ 328│ 273│ 389│ 555│ 463│ 638
Iowa │ 434│ 443│ 479│ 538│ 711│ 744
Illinois │ 81│ 130│ 70│ 98│ 207│ 140
Missouri │ 47│ 56│ 37│ 42│ 54│ 85
Michigan │ 14│ 67│ 7│ 8│ 8│ 23
Minnesota │ 26│ 6│ 12│ 22│ 53│ 22
Wisconsin │ 5│ 10│ 3│ 6│ 9│ 11
Kansas │ 3│ 4│ 7│ 4│ 7│ 14
Indiana │ │ │ │ │ │
South Dakota│ 12│ 11│ 14│ 20│ 38│ 57
Ohio │ │ │ │ │ │
Other states│ 17│ 67│ 7│ 8│ 15│ 25
────────────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │ 967│1,067│1,026│1,302│1,566│1,757
────────────┴─────┴─────┴─────┴─────┴─────┴─────
MONTHLY SHIPMENTS OF STOCKER AND FEEDER SHEEP FROM OMAHA.
(000 omitted)
════════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════
│1907.│1908.│1909.│1910.│1911.│1912.│1913.
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
January │ 17│ 17│ 25│ 18│ 29│ 26│ 43
February │ 42│ 38│ 30│ 18│ 34│ 23│ 42
March │ 79│ 51│ 49│ 37│ 46│ 94│ 47
April │ 88│ 72│ 23│ 32│ 33│ 94│ 43
May │ 16│ 42│ 4│ 25│ 12│ 21│ 12
June │ 7│ 16│ 12│ 19│ 14│ 12│ 2
July │ 18│ 19│ 22│ 82│ 30│ 29│ 28
August │ 69│ 87│ 110│ 227│ 180│ 132│ 122
September │ 250│ 331│ 237│ 479│ 443│ 273│ 504
October │ 298│ 221│ 315│ 483│ 470│ 425│ 465
November │ 120│ 140│ 100│ 255│ 198│ 154│ 120
December │ 28│ 53│ 34│ 28│ 31│ 56│ 40
────────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │1,010│1,087│ 960│1,704│1,519│1,350│1,469
────────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────
════════════╤═════╤═════╤═════╤═════╤═════╤═════
│1914.│1915.│1916.│1917.│1918.│1919.
────────────┼─────┼─────┼─────┼─────┼─────┼─────
January │ 35│ 25│ 16│ 18│ 31│ 41
February │ 32│ 18│ 23│ 18│ 30│ 23
March │ 26│ 5│ 13│ 11│ 28│ 27
April │ 20│ 4│ 7│ 7│ 28│ 27
May │ 5│ 1│ 1│ 3│ 14│ 18
June │ 5│ 10│ 14│ 10│ 17│ 28
July │ 81│ 42│ 26│ 46│ 58│ 143
August │ 118│ 148│ 170│ 174│ 256│ 433
September │ 302│ 378│ 327│ 409│ 545│ 605
October │ 317│ 274│ 302│ 357│ 419│ 248
November │ 52│ 122│ 91│ 150│ 89│ 78
December │ 25│ 39│ 30│ 97│ 51│ 80
────────────┼─────┼─────┼─────┼─────┼─────┼─────
Totals │ 967│1,067│1,026│1,302│1,566│1,757
────────────┴─────┴─────┴─────┴─────┴─────┴─────
SHIPMENTS OF FEEDERS FROM KANSAS CITY.
(000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ 57│ 36│ 50│ 35
Feb. │ │ │ │ │ │ │ 44│ 25│ 47│ 35
Mar. │ │ │ │ │ │ │ 45│ 47│ 45│ 25
Apr. │ │ │ │ │ │ │ 33│ 27│ 34│ 33
May │ │ │ │ │ │ │ 30│ 26│ 28│ 23
June │ │ │ │ │ │ │ 30│ 26│ 35│ 16
July │ │ │ │ │ │ │ 34│ 32│ 48│ 23
Aug. │ │ │ │ │ │ │ 67│ 73│ 62│ 74
Sep. │ │ │ │ │ │ │ 108│ 107│ 77│ 117
Oct. │ │ │ │ │ │ │ 120│ 115│ 127│ 162
Nov. │ │ │ │ │ │ │ 86│ 87│ 87│ 76
Dec. │ │ │ │ │ │ │ 54│ 54│ 35│ 63
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ 708│ 655│ 675│ 682
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 58│ 72│ 53│ 56│ 62│ 41│ 86│ │ │
Feb. │ 46│ 45│ 32│ 54│ 51│ 54│ 66│ │ │
Mar. │ 46│ 47│ 50│ 56│ 49│ 65│ 62│ │ │
Apr. │ 34│ 47│ 54│ 41│ 54│ 59│ 84│ │ │
May │ 28│ 28│ 33│ 46│ 49│ 62│ 60│ │ │
June │ 28│ 27│ 24│ 40│ 55│ 42│ 50│ │ │
July │ 56│ 39│ 29│ 42│ 63│ 60│ 41│ │ │
Aug. │ 139│ 55│ 56│ 113│ 94│ 120│ 92│ │ │
Sep. │ 172│ 114│ 134│ 123│ 132│ 159│ 127│ │ │
Oct. │ 161│ 152│ 186│ 178│ 131│ 175│ 167│ │ │
Nov. │ 91│ 84│ 161│ 101│ 143│ 141│ 121│ │ │
Dec. │ 54│ 69│ 88│ 42│ 66│ 76│ 70│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 913│ 779│ 900│ 892│ 949│ 1,054│ 1,026│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
BUREAU OF MARKETS REPORTS ON LIVE STOCK MOVEMENTS.
(000 omitted)
════════════════════════╤══════╤══════╤══════╤══════╤═════╤═════╤═════
│1916. │1917. │1918. │1919. │1920.│1921.│1922.
────────────────────────┼──────┼──────┼──────┼──────┼─────┼─────┼─────
Hog receipts at 54 │43,112│35,733│44,534│43,780│ │ │
markets │ │ │ │ │ │ │
Shipments of stocker and│ 142│ 640│ 683│ 617│ │ │
feeder hogs from 16 │ │ │ │ │ │ │
markets │ │ │ │ │ │ │
Cattle receipts at 54 │17,553│22,210│24,977│24,313│ │ │
markets │ │ │ │ │ │ │
Shipments of stocker and│ 3,843│ 4,705│ 4,688│ 4,900│ │ │
feeder cattle from 35 │ │ │ │ │ │ │
markets │ │ │ │ │ │ │
Sheep receipts at 54 │20,434│18,671│21,720│25,882│ │ │
markets │ │ │ │ │ │ │
────────────────────────┴──────┴──────┴──────┴──────┴─────┴─────┴─────
At this date, in early 1920, the Bureau of Markets is reporting for
about 69 markets. Hog receipts as given are 97 per cent of receipts at
69 markets; cattle, 98 per cent; sheep, 95 per cent, stocker and feeder
cattle, 93 per cent; stocker hogs, 69 per cent.
[14]ARGENTINE WHEAT PRICE.
(Per bushel)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1910. │1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ 1.13│ .92│ 1.02│ .89│ 1.00│ 1.24│ 1.08│ 1.60│ 1.44│
February │ 1.07│ .91│ .97│ .89│ 1.00│ 1.42│ 1.08│ 1.60│ 1.48│
March │ 1.07│ .88│ .95│ .91│ .99│ 1.40│ .99│ 1.66│ 1.52│ 1.26
April │ 1.01│ .88│ .93│ 1.04│ .97│ 1.43│ .95│ 1.71│ 1.52│ 1.26
May │ .91│ .91│ .89│ 1.03│ 1.01│ 1.50│ .87│ 2.00│ 1.47│
June │ .83│ .90│ .91│ 1.04│ 1.03│ 1.28│ .85│ 2.18│ 1.46│
July │ 1.18│ .92│ .90│ 1.04│ 1.06│ 1.44│ .86│ 2.20│ 1.35│
August │ .97│ .97│ .91│ 1.06│ 1.07│ 1.45│ 1.11│ 2.05│ 1.28│ 1.92
September│ .91│ 1.06│ .89│ 1.08│ 1.09│ 1.44│ 1.21│ 1.90│ 1.26│ 1.92
October │ .92│ 1.06│ .91│ 1.02│ 1.06│ 1.38│ 1.46│ 1.89│ 1.28│ 1.68
November │ .89│ 1.04│ .86│ 1.07│ 1.12│ 1.30│ 1.68│ 1.82│ │ 1.70
December │ .86│ 1.12│ .90│ 1.03│ 1.13│ 1.16│ 1.42│ 1.37│ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
[14]ARGENTINE CORN PRICE.
(Per bushel)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1910. │1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .69│ .56│ 1.04│ .52│ .55│ .52│ .55│ 1.01│ .70│ .56
February │ .68│ .55│ .94│ .51│ .55│ .58│ .58│ 1.00│ .71│ .56
March │ .66│ .53│ .63│ .52│ .56│ .56│ .53│ .94│ .69│ .49
April │ .62│ .60│ .58│ .52│ .52│ .59│ .49│ .99│ │ .54
May │ .57│ .70│ .52│ .54│ .57│ .53│ .42│ 1.21│ │
June │ .48│ .75│ .50│ .53│ .54│ .49│ .40│ 1.38│ │
July │ .51│ .87│ .49│ .51│ .56│ .49│ .44│ 1.37│ .55│
August │ .52│ .95│ .50│ .54│ .53│ .49│ .50│ 1.40│ .73│ 1.13
September│ .51│ 1.01│ .48│ .60│ .50│ .48│ .52│ .93│ .70│ 1.03
October │ .49│ .99│ .49│ .58│ .45│ .50│ .67│ .85│ │ .85
November │ .48│ .95│ .49│ .59│ .50│ .52│ 1.05│ .86│ │ .85
December │ .61│ .98│ .57│ .58│ .50│ .50│ .87│ .77│ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
EXPORTS OF PORK AND PORK PRODUCTS FROM THE UNITED STATES—IN POUNDS.
(000,000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 119│ 121│ 109│ 162│ 129│ 124│ 104│ 75│ 75│ 99
Feb. │ 89│ 97│ 108│ 137│ 115│ 156│ 88│ 66│ 79│ 103
Mar. │ 88│ 87│ 121│ 109│ 101│ 135│ 105│ 60│ 85│ 105
Apr. │ 68│ 80│ 111│ 120│ 93│ 105│ 83│ 34│ 87│ 86
May │ 63│ 76│ 99│ 108│ 95│ 79│ 78│ 92│ 101│ 93
June │ 85│ 98│ 106│ 107│ 97│ 83│ 87│ 50│ 97│ 66
July │ 80│ 75│ 111│ 114│ 160│ 81│ 63│ 62│ 84│ 72
Aug. │ 85│ 83│ 111│ 124│ 114│ 73│ 68│ 69│ 82│ 79
Sep. │ 95│ 98│ 99│ 121│ 83│ 82│ 60│ 58│ 107│ 79
Oct. │ 93│ 101│ 105│ 94│ 83│ 78│ 55│ 50│ 80│ 66
Nov. │ 95│ 88│ 119│ 79│ 88│ 78│ 63│ 51│ 77│ 67
Dec. │ 120│ 113│ 158│ 97│ 75│ 112│ 66│ 74│ 97│ 82
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,080│ 1,117│ 1,357│ 1,372│ 1,233│ 1,186│ 920│ 741│ 1,051│ 996
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 92│ 102│ 106│ 133│ 199│ 93│ 198│ 135│ │
Feb. │ 107│ 74│ 119│ 162│ 123│ 114│ 236│ │ │
Mar. │ 97│ 70│ 169│ 120│ 168│ 308│ 342│ │ │
Apr. │ 83│ 61│ 114│ 134│ 138│ 286│ 349│ │ │
May │ 84│ 66│ 89│ 148│ 127│ 281│ 185│ │ │
June │ 76│ 67│ 122│ 112│ 103│ 169│ 400│ │ │
July │ 82│ 53│ 95│ 77│ 46│ 253│ 241│ │ │
Aug. │ 83│ 54│ 90│ 93│ 71│ 170│ 179│ │ │
Sep. │ 74│ 59│ 100│ 106│ 79│ 115│ 117│ │ │
Oct. │ 77│ 73│ 113│ 95│ 54│ 132│ 116│ │ │
Nov. │ 80│ 74│ 108│ 114│ 99│ 123│ 129│ │ │
Dec. │ 87│ 74│ 143│ 157│ 90│ 206│ 143│ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ 1,021│ 828│ 1,368│ 1,451│ 1,298│ 2,251│ 2,635│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
EXPORTS OF WHEAT.[15]
(In bushels—000,000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 16│ 12│ 3│ 10│ 11│ 19│ 8│ 5│ 7│ 6
Feb. │ 12│ 8│ 3│ 9│ 9│ 13│ 6│ 3│ 5│ 5
Mar. │ 12│ 7│ 3│ 7│ 9│ 9│ 5│ 4│ 6│ 6
Apr. │ 15│ 5│ 3│ 7│ 11│ 8│ 4│ 5│ 5│ 5
May │ 15│ 4│ 4│ 7│ 13│ 9│ 5│ 5│ 6│ 4
June │ 12│ 4│ 3│ 6│ 11│ 9│ 3│ 3│ 4│ 3
July │ 10│ 3│ 2│ 7│ 7│ 8│ 4│ 3│ 6│ 3
Aug. │ 12│ 4│ 4│ 13│ 10│ 17│ 9│ 5│ 10│ 9
Sep. │ 15│ 4│ 7│ 18│ 15│ 18│ 12│ 6│ 11│ 17
Oct. │ 16│ 5│ 11│ 17│ 20│ 18│ 14│ 7│ 9│ 21
Nov. │ 13│ 5│ 12│ 14│ 21│ 12│ 13│ 7│ 7│ 16
Dec. │ 15│ 4│ 16│ 13│ 23│ 11│ 9│ 8│ 8│ 15
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ 13│ 10│ 32│ 21│ 24│ 12│ 22│ │ │
Feb. │ 9│ 8│ 31│ 21│ 14│ 10│ 16│ │ │
Mar. │ 9│ 7│ 28│ 24│ 12│ 12│ 20│ │ │
Apr. │ 11│ 7│ 29│ 22│ 19│ 12│ 31│ │ │
May │ 11│ 11│ 20│ 21│ 16│ 11│ 26│ │ │
June │ 9│ 11│ 13│ 12│ 21│ 11│ 33│ │ │
July │ 13│ 30│ 12│ 11│ 8│ 11│ 14│ │ │
Aug. │ 28│ 28│ 20│ 15│ 10│ 19│ 19│ │ │
Sep. │ 18│ 31│ 26│ 18│ 7│ 28│ 25│ │ │
Oct. │ 13│ 26│ 24│ 16│ 11│ 25│ 21│ │ │
Nov. │ 10│ 26│ 19│ 19│ 11│ 22│ 23│ │ │
Dec. │ 11│ 37│ 20│ 19│ 15│ 34│ 15│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
EXPORTS OF CORN.
(In bushels—000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │11,026│ 5,059│16,440│27,257│ 9,151│ 6,441│ 6,216│ 6,105│ 9,947│ 7,646
Feb. │13,070│ 6,842│14,214│17,795│11,446│ 9,519│ 5,342│ 4,547│11,033│ 7,022
Mar. │15,644│ 7,879│14,617│12,870│12,277│ 4,507│ 4,856│ 5,229│ 9,773│ 5,267
Apr. │10,302│ 3,139│12,275│ 8,932│ 9,656│ 2,476│ 4,900│ 3,628│ 5,374│ 1,815
May │ 5,973│ 1,388│ 6,546│ 5,034│ 7,446│ 1,153│ 1,110│ 2,131│ 3,715│ 830
June │ 5,903│ 1,738│ 4,431│ 2,648│ 5,553│ 737│ 685│ 1,997│ 4,650│ 687
July │ 5,185│ 2,086│ 4,113│ 3,173│ 7,305│ 430│ 739│ 2,181│ 2,410│ 747
Aug. │ 3,180│ 3,088│ 4,844│ 3,185│ 4,970│ 391│ 810│ 2,390│ 1,314│ 561
Sep. │ 3,707│ 3,304│ 5,711│ 3,388│ 2,892│ 523│ 1,019│ 3,607│ 3,778│ 829
Oct. │ 7,136│ 2,563│ 4,028│ 6,036│ 3,770│ 1,795│ 2,200│ 3,587│ 2,934│ 1,154
Nov. │ 5,984│ 1,325│ 5,861│ 4,837│ 4,131│ 3,154│ 2,351│ 2,018│ 1,229│ 1,102
Dec. │ 4,623│ 8,098│18,373│ 7,093│ 4,545│ 6,453│ 5,930│ 5,206│ 5,043│ 3,274
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
(In bushels—000 omitted)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │11,317│ 1,148│ 5,224│ 3,498│ 7,253│ 1,953│ 1,177│ │ │
Feb. │12,307│ 928│ 7,855│ 5,151│ 6,597│ 3,203│ 976│ │ │
Mar. │10,109│ 1,170│ 8,815│ 4,837│10,834│ 7,658│ 683│ │ │
Apr. │ 5,596│ 709│ 9,105│ 5,107│ 6,463│ 8,645│ 699│ │ │
May │ 1,252│ 538│ 3,735│ 5,536│ 4,838│ 3,793│ 878│ │ │
June │ 743│ 926│ 3,845│ 4,811│ 3,720│ 3,279│ 910│ │ │
July │ 926│ 560│ 2,161│ 5,483│ 3,146│ 2,009│ 588│ │ │
Aug. │ 709│ 491│ 959│ 6,700│ 2,670│ 1,850│ 816│ │ │
Sep. │ 670│ 1,152│ 888│ 3,760│ 980│ 2,496│ 1,210│ │ │
Oct. │ 404│ 1,052│ 1,019│ 3,886│ 1,602│ 2,335│ 868│ │ │
Nov. │ 444│ 2,153│ 1,642│ 2,290│ 1,622│ 1,700│ 962│ │ │
Dec. │ 773│ 4,781│ 2,790│ 2,891│ 2,445│ 991│ 1,525│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
IOWA CORN PRICES.
(Prices on farms or nearest shipping point, first of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ .51│ .36│ .52│ .36│ .58│ .57│ .57│ .80│ 1.21│ 1.36│ .684
February │ .54│ .37│ .55│ .38│ .56│ .66│ .62│ .88│ 1.21│ 1.25│ .702
March │ .52│ .37│ .56│ .39│ .56│ .65│ .61│ .92│ 1.34│ 1.22│ .714
April │ .51│ .38│ .61│ .41│ .59│ .64│ .65│ 1.11│ 1.36│ 1.40│ .766
May │ .48│ .41│ .69│ .45│ .59│ .68│ .66│ 1.40│ 1.40│ 1.54│ .830
June │ .50│ .44│ .70│ .50│ .63│ .68│ .68│ 1.46│ 1.35│ 1.63│ .857
July │ .53│ .49│ .67│ .52│ .63│ .69│ .69│ 1.56│ 1.37│ 1.66│ .881
August │ .55│ .56│ .65│ .54│ .64│ .71│ .73│ 2.02│ 1.47│ 1.84│ .971
September│ .56│ .56│ .67│ .66│ .72│ .71│ .77│ 1.65│ 1.50│ 1.69│ .949
October │ .49│ .57│ .61│ .66│ .69│ .66│ .76│ 1.70│ 1.38│ 1.32│ .884
November │ .39│ .57│ .50│ .60│ .61│ .59│ .78│ 1.36│ 1.15│ 1.11│ .766
December │ .36│ .53│ .35│ .60│ .55│ .51│ .80│ 1.08│ 1.22│ 1.20│ .720
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .495│ .467│ .590│ .506│ .612│ .646│ .693│1.328│1.330│1.435│ .810
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
IOWA OATS PRICES.
(Prices on farms or nearest shipping point, first of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ .38│ .27│ .41│ .28│ .35│ .43│ .36│ .46│ .71│ .64│ .429
February │ .41│ .27│ .44│ .28│ .34│ .48│ .43│ .51│ .76│ .54│ .446
March │ .41│ .26│ .45│ .28│ .34│ .50│ .39│ .51│ .83│ .54│ .451
April │ .41│ .26│ .47│ .29│ .34│ .51│ .38│ .56│ .84│ .58│ .464
May │ .37│ .27│ .51│ .30│ .34│ .50│ .38│ .63│ .82│ .64│ .476
June │ .37│ .29│ .48│ .32│ .35│ .48│ .37│ .61│ .69│ .62│ .458
July │ .36│ .35│ .46│ .34│ .34│ .42│ .36│ .62│ .71│ .65│ .461
August │ .35│ .35│ .33│ .34│ .31│ .43│ .35│ .68│ .67│ .70│ .451
September│ .29│ .36│ .26│ .36│ .39│ .32│ .39│ .51│ .62│ .63│ .413
October │ .28│ .39│ .27│ .36│ .40│ .30│ .41│ .54│ .64│ .60│ .419
November │ .27│ .41│ .28│ .34│ .39│ .31│ .45│ .54│ .62│ .61│ .422
December │ .27│ .41│ .27│ .34│ .41│ .32│ .48│ .63│ .64│ .64│ .441
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .348│ .324│ .386│ .319│ .359│ .417│ .396│ .567│ .713│ .616│ .444
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
IOWA HOG PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ 7.80│ 7.50│ 5.60│ 6.90│ 7.70│ 6.40│ 6.20│ 9.80│15.60│16.40│ 8.99
February │ 8.10│ 6.90│ 5.70│ 7.50│ 8.00│ 6.20│ 7.50│11.40│15.30│16.50│ 9.31
March │ 9.60│ 6.40│ 6.00│ 8.10│ 8.10│ 6.20│ 9.00│13.80│16.20│17.40│ 10.08
April │ 9.50│ 5.80│ 7.20│ 8.50│ 8.10│ 6.50│ 9.00│15.30│16.40│18.70│ 10.50
May │ 8.60│ 5.40│ 7.10│ 7.70│ 7.80│ 6.90│ 9.10│15.10│16.60│19.50│ 10.38
June │ 8.80│ 5.40│ 6.90│ 8.00│ 7.50│ 7.00│ 8.80│14.80│15.80│19.30│ 10.23
July │ 8.20│ 5.90│ 6.90│ 8.30│ 8.00│ 6.90│ 9.10│14.50│16.30│20.80│ 10.49
August │ 7.60│ 6.90│ 7.60│ 7.90│ 8.50│ 6.40│ 9.30│15.70│18.00│20.10│ 10.80
September│ 8.40│ 6.60│ 7.80│ 7.70│ 8.30│ 6.70│ 9.90│16.90│18.40│15.50│ 10.62
October. │ 7.90│ 5.90│ 8.20│ 7.60│ 7.20│ 7.40│ 9.00│16.90│17.00│13.40│ 10.05
November │ 7.30│ 5.70│ 7.20│ 7.30│ 6.80│ 6.10│ 9.10│15.80│16.40│13.50│ 9.52
December │ 6.90│ 5.60│ 7.00│ 7.10│ 6.50│ 5.80│ 9.00│16.20│16.40│12.30│ 9.28
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 8.23│ 6.17│ 6.94│ 7.72│ 7.71│ 6.54│ 8.75│14.68│16.53│16.95│ 10.02
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
IOWA BEEF CATTLE PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ 5.40│ 5.10│ 5.40│ 6.50│ 7.00│ 6.70│ 6.90│ 8.20│ 9.90│12.40│ 7.35
February │ 5.00│ 5.00│ 5.40│ 6.80│ 7.30│ 6.50│ 7.20│ 8.90│10.30│12.80│ 7.52
March │ 5.80│ 5.00│ 5.60│ 7.10│ 7.40│ 6.50│ 7.60│ 8.70│10.40│13.50│ 7.76
April │ 6.20│ 5.10│ 6.00│ 7.40│ 7.40│ 6.60│ 7.70│10.10│11.90│14.10│ 8.25
May │ 5.90│ 4.90│ 6.20│ 7.10│ 7.30│ 7.00│ 8.00│10.20│12.70│13.60│ 8.29
June │ 5.60│ 4.90│ 6.20│ 7.10│ 7.40│ 7.30│ 8.50│10.30│12.60│11.90│ 8.18
July │ 5.30│ 4.80│ 6.50│ 7.20│ 7.70│ 7.80│ 8.20│10.20│12.80│12.30│ 8.28
August │ 5.10│ 5.20│ 6.80│ 7.00│ 7.80│ 7.40│ 7.80│10.20│12.30│12.60│ 8.22
September│ 5.20│ 5.00│ 6.80│ 7.20│ 7.70│ 7.10│ 8.10│10.60│12.90│11.80│ 8.24
October │ 5.00│ 5.10│ 6.80│ 7.10│ 7.40│ 7.20│ 7.80│10.40│11.90│10.10│ 7.88
November │ 4.90│ 5.10│ 6.40│ 7.10│ 7.00│ 6.80│ 7.80│10.10│11.90│11.50│ 7.86
December │ 4.70│ 5.20│ 6.70│ 6.90│ 6.90│ 6.70│ 7.90│ 9.70│11.70│11.60│ 7.80
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 5.34│ 5.04│ 6.24│ 7.04│ 7.36│ 6.97│ 7.79│ 9.80│11.77│12.35│ 7.97
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
IOWA WOOL PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ .26│ .19│ .17│ .19│ .17│ .18│ .24│ .30│ .59│ .59│ .288
February │ .26│ .19│ .18│ .19│ .17│ .19│ .27│ .30│ .60│ .53│ .288
March │ .26│ .19│ .18│ .20│ .17│ .22│ .26│ .35│ .60│ .51│ .294
April │ .24│ .18│ .18│ .19│ .17│ .23│ .28│ .39│ .60│ .52│ .298
May │ .24│ .16│ .19│ .17│ .18│ .22│ .29│ .43│ .60│ .51│ .299
June │ .20│ .16│ .20│ .17│ .19│ .25│ .31│ .52│ .60│ .49│ .309
July │ .21│ .16│ .20│ .18│ .20│ .25│ .30│ .57│ .61│ .54│ .322
August │ .21│ .17│ .21│ .16│ .20│ .25│ .30│ .56│ .61│ .54│ .321
September│ .20│ .17│ .20│ .17│ .19│ .25│ .30│ .58│ .60│ .52│ .318
October │ .19│ .17│ .20│ .17│ .19│ .26│ .30│ .56│ .59│ .50│ .313
November │ .19│ .17│ .19│ .18│ .18│ .24│ .30│ .55│ .61│ .52│ .313
December │ .19│ .17│ .20│ .18│ .18│ .24│ .29│ .57│ .58│ .51│ .311
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .221│ .174│ .192│ .179│ .183│ .232│ .287│ .474│ .599│ .525│ .307
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
IOWA BRAN PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │24.30│24.10│25.80│25.10│24.90│26.40│24.50│31.30│39.90│46.80│ 29.31
February │25.80│24.40│27.60│23.60│25.30│27.00│24.70│33.10│40.40│47.00│ 29.89
March │26.50│24.00│28.80│23.60│25.90│26.90│24.40│38.00│41.80│47.00│ 30.69
April │25.60│23.90│28.20│22.90│27.00│26.70│24.30│41.20│41.30│45.20│ 30.63
May │23.90│24.70│28.60│22.50│26.30│26.70│24.30│42.50│41.40│47.00│ 30.79
June │24.70│25.10│27.10│22.70│26.00│25.60│24.50│39.30│41.80│45.70│ 30.25
July │24.50│25.10│26.30│23.00│24.40│25.80│24.20│38.90│41.80│45.50│ 29.95
August │24.20│25.20│26.10│23.30│25.00│25.50│24.50│41.00│38.30│46.90│ 30.00
September│23.80│24.80│25.00│24.40│25.80│25.10│25.00│38.50│36.70│47.50│ 29.66
October │23.50│25.40│25.00│24.70│25.10│24.10│25.80│37.60│37.00│43.80│ 29.20
November │24.10│25.80│24.30│24.70│24.90│23.30│29.25│37.50│36.30│45.50│ 29.56
December │23.90│25.90│24.10│24.20│25.20│23.00│30.00│40.70│36.60│46.80│ 30.04
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │24.56│24.86│26.41│23.74│25.48│25.51│25.45│38.30│39.46│46.22│ 30.00
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
ILLINOIS CORN PRICES.
(Prices on farms or nearest shipping point, first of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ .55│ .39│ .55│ .41│ .64│ .64│ .62│ .84│ 1.16│ 1.34│ .714
February │ .59│ .40│ .59│ .45│ .60│ .70│ .65│ .92│ 1.25│ 1.20│ .735
March │ .59│ .40│ .60│ .46│ .60│ .68│ .65│ .98│ 1.36│ 1.23│ .755
April │ .57│ .40│ .65│ .47│ .64│ .69│ .65│ 1.09│ 1.30│ 1.42│ .788
May │ .54│ .43│ .74│ .51│ .63│ .74│ .69│ 1.47│ 1.33│ 1.56│ .864
June │ .54│ .47│ .77│ .55│ .68│ .73│ .69│ 1.54│ 1.25│ 1.67│ .889
July │ .57│ .51│ .73│ .58│ .68│ .72│ .70│ 1.60│ 1.32│ 1.74│ .915
August │ .58│ .58│ .71│ .61│ .72│ .76│ .76│ 2.06│ 1.39│ 1.89│ 1.016
September│ .57│ .60│ .72│ .73│ .78│ .73│ .80│ 1.72│ 1.47│ 1.84│ .996
October │ .51│ .61│ .66│ .71│ .74│ .68│ .80│ 1.80│ 1.39│ 1.41│ .930
November │ .43│ .60│ .50│ .64│ .67│ .57│ .84│ 1.42│ 1.18│ 1.24│ .809
December │ .38│ .55│ .41│ .63│ .61│ .54│ .84│ 1.10│ 1.20│ 1.30│ .756
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .535│ .495│ .636│ .563│ .666│ .681│ .724│1.378│1.300│1.487│ .847
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
ILLINOIS OATS PRICES.
(Prices on farms or nearest shipping point, first of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ .41│ .29│ .43│ .30│ .37│ .45│ .38│ .49│ .72│ .67│ .45
February │ .44│ .30│ .45│ .31│ .37│ .52│ .46│ .53│ .77│ .56│ .47
March │ .45│ .29│ .48│ .32│ .37│ .52│ .40│ .54│ .86│ .56│ .48
April │ .43│ .29│ .51│ .31│ .38│ .55│ .39│ .60│ .86│ .61│ .49
May │ .41│ .30│ .54│ .31│ .37│ .54│ .41│ .67│ .83│ .67│ .51
June │ .40│ .31│ .52│ .35│ .38│ .50│ .39│ .61│ .71│ .66│ .48
July │ .39│ .38│ .49│ .37│ .36│ .44│ .37│ .62│ .71│ .66│ .48
August │ .36│ .36│ .34│ .37│ .35│ .40│ .36│ .68│ .66│ .74│ .46
September│ .31│ .39│ .30│ .39│ .42│ .33│ .40│ .51│ .66│ .68│ .44
October │ .30│ .41│ .30│ .39│ .43│ .31│ .41│ .56│ .67│ .64│ .44
November │ .31│ .42│ .30│ .37│ .44│ .33│ .48│ .56│ .63│ .63│ .45
December │ .30│ .42│ .30│ .38│ .44│ .35│ .51│ .65│ .67│ .70│ .47
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .376│ .347│ .414│ .348│ .390│ .437│ .414│ .585│ .729│ .701│ .47
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
ILLINOIS HOG PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ 8.10│ 7.40│ 5.80│ 6.90│ 7.70│ 6.40│ 6.40│ 9.80│15.60│16.20│ 9.03
February │ 8.20│ 7.00│ 5.80│ 7.50│ 8.10│ 6.20│ 7.40│11.30│15.30│16.30│ 9.31
March │ 9.50│ 6.50│ 6.00│ 8.10│ 8.10│ 6.30│ 8.90│13.70│16.30│17.00│ 10.04
April │ 9.70│ 6.00│ 7.10│ 8.50│ 8.10│ 6.60│ 8.80│14.90│16.40│18.40│ 10.45
May │ 8.90│ 6.50│ 7.10│ 7.80│ 7.80│ 7.00│ 8.90│14.80│16.60│19.10│ 10.35
June │ 8.70│ 5.50│ 6.90│ 8.00│ 7.50│ 7.00│ 8.80│14.60│16.00│19.00│ 10.20
July │ 8.40│ 6.00│ 6.90│ 8.30│ 8.10│ 7.10│ 9.00│14.50│16.20│20.50│ 10.50
August │ 7.90│ 6.80│ 7.50│ 8.20│ 8.80│ 6.80│ 9.40│15.70│17.80│20.40│ 10.93
September│ 8.70│ 6.70│ 8.00│ 8.10│ 8.40│ 7.10│10.00│16.90│18.50│16.10│ 10.85
October │ 8.30│ 6.00│ 8.30│ 7.90│ 7.40│ 7.50│ 9.10│17.00│17.10│13.60│ 10.22
November │ 7.50│ 5.70│ 7.20│ 7.30│ 7.00│ 6.30│ 9.10│15.80│16.30│13.40│ 9.56
December │ 7.00│ 5.70│ 7.00│ 7.10│ 6.60│ 6.00│ 9.10│16.20│16.30│12.20│ 9.32
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 8.41│ 6.24│ 6.97│ 7.81│ 7.80│ 6.69│ 8.74│14.60│16.53│16.85│ 10.07
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
ILLINOIS BEEF CATTLE PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ 4.40│ 4.90│ 5.10│ 6.10│ 6.80│ 6.50│ 6.50│ 7.90│ 9.50│11.70│ 6.94
February │ 5.10│ 4.90│ 5.10│ 6.30│ 7.00│ 6.40│ 6.50│ 8.50│ 9.50│11.70│ 7.10
March │ 5.00│ 5.00│ 5.30│ 6.80│ 7.00│ 6.40│ 7.10│ 9.00│10.10│12.10│ 7.38
April │ 5.50│ 5.00│ 5.60│ 6.80│ 7.00│ 6.50│ 7.40│ 9.60│12.00│12.50│ 7.79
May │ 5.70│ 4.80│ 6.00│ 6.50│ 7.10│ 6.70│ 7.50│ 9.60│11.70│12.50│ 7.81
June │ 5.40│ 4.80│ 6.10│ 6.80│ 7.00│ 7.00│ 7.80│ 9.60│11.90│11.40│ 7.78
July │ 5.20│ 4.90│ 6.40│ 6.70│ 7.00│ 7.20│ 7.80│ 9.40│11.70│11.90│ 7.82
August │ 5.00│ 5.20│ 6.30│ 6.70│ 7.50│ 7.10│ 7.70│ 9.40│11.30│11.80│ 7.80
September│ 5.20│ 5.10│ 6.50│ 6.70│ 7.40│ 7.00│ 8.00│10.40│11.70│10.20│ 7.82
October │ 5.10│ 4.80│ 6.40│ 6.80│ 7.20│ 7.00│ 7.40│10.10│11.00│10.00│ 7.58
November │ 4.90│ 5.10│ 6.10│ 6.60│ 7.10│ 6.50│ 7.50│ 9.40│10.50│10.00│ 7.37
December │ 4.80│ 5.00│ 6.10│ 6.50│ 6.80│ 6.50│ 7.50│ 9.70│11.30│10.10│ 7.43
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ 5.11│ 4.96│ 5.92│ 6.61│ 7.08│ 6.74│ 7.39│ 9.39│11.01│11.32│ 7.55
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
ILLINOIS WOOL PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │ .29│ .20│ .17│ .21│ .16│ .20│ .26│ .32│ .58│ .59│ .298
February │ .28│ .20│ .18│ .21│ .17│ .21│ .26│ .32│ .59│ .60│ .302
March │ .27│ .19│ .18│ .21│ .17│ .21│ .28│ .35│ .60│ .56│ .302
April │ .24│ .18│ .18│ .20│ .17│ .22│ .27│ .37│ .60│ .56│ .299
May │ .26│ .16│ .20│ .17│ .18│ .24│ .30│ .44│ .61│ .44│ .300
June │ .22│ .17│ .20│ .17│ .20│ .26│ .32│ .53│ .61│ .50│ .318
July │ .21│ .17│ .20│ .17│ .20│ .27│ .32│ .56│ .62│ .53│ .325
August │ .23│ .17│ .20│ .17│ .20│ .27│ .31│ .57│ .62│ .54│ .328
September│ .20│ .18│ .21│ .18│ .20│ .28│ .31│ .55│ .61│ .50│ .322
October │ .20│ .17│ .20│ .17│ .20│ .27│ .32│ .58│ .62│ .51│ .324
November │ .20│ .17│ .20│ .16│ .19│ .26│ .31│ .58│ .62│ .51│ .320
December │ .21│ .17│ .21│ .17│ .20│ .26│ .32│ .60│ .61│ .53│ .328
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │ .234│ .178│ .194│ .183│ .187│ .246│ .299│ .481│ .608│ .531│ .314
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
The price of 44 cents in May of 1919 is probably a mistake, altho it is
the price as reported by the Bureau of Crop Estimates.
ILLINOIS BRAN PRICES.
(Prices on farms or nearest shipping point, fifteenth of each month.)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │
January │23.90│23.30│25.80│24.10│25.70│26.70│25.10│31.90│40.50│48.70│ 29.57
February │26.20│23.80│27.70│24.10│26.40│27.20│25.00│34.40│40.80│49.40│ 30.50
March │25.60│24.00│27.00│23.60│26.50│26.90│24.30│37.70│42.70│46.70│ 30.50
April │25.70│23.80│27.80│23.30│27.00│27.20│24.40│41.20│42.40│48.00│ 31.08
May │25.30│24.20│27.80│23.50│26.70│27.80│24.60│43.60│42.20│47.10│ 31.28
June │24.90│24.10│26.90│23.10│26.50│25.90│24.40│38.30│42.90│46.60│ 30.36
July │24.40│24.00│25.80│23.00│24.20│25.90│24.00│40.00│40.00│46.80│ 29.81
August │23.50│24.30│25.40│23.50│26.00│25.70│24.60│41.90│37.50│48.10│ 30.05
September│23.20│23.90│25.40│25.70│26.00│24.70│26.00│37.00│38.90│48.10│ 29.89
October │22.20│24.60│25.50│25.30│25.60│24.70│26.80│36.30│37.00│46.10│ 29.41
November │22.80│24.80│24.50│25.20│25.20│24.90│30.50│38.00│38.00│47.00│ 30.09
December │22.80│25.40│24.50│25.00│24.80│24.30│31.40│41.50│38.40│47.10│ 30.52
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │24.11│24.08│26.07│24.10│25.88│25.99│25.92│38.48│40.11│47.47│ 30.22
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
FARM PRICES OF BUTTER.
(Per pound, average for all United States—first of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .278│ .281│ .284│ .292│ .287│ .283│ .340│ .431│ .549│ .613
February │ .241│ .290│ .276│ .274│ .279│ .276│ .335│ .437│ .496│
March │ .227│ .272│ .275│ .260│ .268│ .271│ .341│ .434│ .438│
April │ .226│ .261│ .276│ .249│ .258│ .276│ .335│ .407│ .476│
May │ .214│ .260│ .270│ .238│ .257│ .279│ .361│ .399│ .503│
June │ .203│ .248│ .255│ .228│ .248│ .265│ .350│ .386│ .491│
July │ .204│ .234│ .247│ .229│ .242│ .257│ .335│ .382│ .472│
August │ .217│ .237│ .249│ .237│ .242│ .261│ .340│ .397│ .482│
September│ .231│ .242│ .259│ .253│ .245│ .274│ .361│ .414│ .497│
October │ .238│ .256│ .275│ .260│ .253│ .290│ .389│ .472│ .515│
November │ .252│ .269│ .282│ .263│ .264│ .311│ .409│ .497│ .560│
December │ .274│ .288│ .292│ .284│ .276│ .344│ .419│ .527│ .600│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
FARM PRICES OF EGGS.
(Per dozen, average of all United States—first of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .304│ .295│ .268│ .307│ .316│ .306│ .377│ .463│ .572│ .648
February │ .221│ .291│ .228│ .284│ .292│ .268│ .358│ .494│ .483│
March │ .165│ .245│ .194│ .242│ .213│ .212│ .338│ .404│ .331│
April │ .149│ .178│ .164│ .176│ .166│ .179│ .259│ .312│ .343│
May │ .147│ .171│ .161│ .168│ .171│ .181│ .300│ .310│ .368│
June │ .145│ .167│ .169│ .173│ .166│ .190│ .311│ .298│ .386│
July │ .142│ .167│ .170│ .176│ .168│ .197│ .283│ .307│ .368│
August │ .155│ .174│ .172│ .182│ .170│ .207│ .298│ .344│ .393│
September│ .174│ .191│ .195│ .210│ .187│ .233│ .332│ .364│ .410│
October │ .200│ .220│ .234│ .235│ .223│ .281│ .374│ .416│ .447│
November │ .235│ .259│ .274│ .253│ .263│ .322│ .394│ .472│ .540│
December │ .287│ .297│ .330│ .297│ .306│ .381│ .433│ .550│ .619│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
FARM PRICES OF POTATOES.
(Per bushel, average of all United States—first of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .541│ .845│ .506│ .684│ .497│ .706│ 1.473│ 1.210│ 1.161│ 1.786
February │ .551│ .944│ .531│ .697│ .504│ .880│ 1.724│ 1.229│ 1.144│
March │ .553│ 1.020│ .520│ .707│ .504│ .944│ 2.407│ 1.203│ 1.094│
April │ .555│ 1.171│ .503│ .700│ .478│ .976│ 2.347│ .926│ 1.054│
May │ .625│ 1.273│ .482│ .714│ .505│ .948│ 2.796│ .801│ 1.189│
June │ .633│ 1.197│ .552│ .713│ .508│ .988│ 2.740│ .755│ 1.214│
July │ .963│ 1.036│ .498│ .815│ .521│ 1.023│ 2.479│ .949│ 1.284│
August │ 1.360│ .865│ .692│ .871│ .563│ .954│ 1.708│ 1.416│ 1.928│
September│ 1.137│ .650│ .753│ .749│ .505│ 1.093│ 1.391│ 1.488│ 1.875│
October │ .883│ .511│ .739│ .647│ .488│ 1.120│ 1.221│ 1.436│ 1.642│
November │ .763│ .455│ .696│ .528│ .608│ 1.357│ 1.278│ 1.272│ 1.528│
December │ .799│ .505│ .687│ .487│ .617│ 1.461│ 1.228│ 1.192│ 1.614│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF SIRLOIN.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .202│ .207│ .238│ .250│ .253│ .256│ .276│ .326│ .410│ .405
February │ .202│ .207│ .238│ .250│ .248│ .256│ .286│ .331│ .410│
March │ .202│ .213│ .245│ .253│ .245│ .263│ .293│ .336│ .417│
April │ .202│ .220│ .256│ .253│ .250│ .268│ .316│ .364│ .435│
May │ .204│ .235│ .256│ .258│ .256│ .276│ .321│ .397│ .443│
June │ .204│ .240│ .258│ .261│ .261│ .286│ .326│ .425│ .430│
July │ .207│ .243│ .263│ .268│ .266│ .286│ .326│ .420│ .433│
August │ .207│ .245│ .263│ .278│ .263│ .283│ .329│ .412│ .420│
September│ .204│ .243│ .261│ .271│ .263│ .281│ .331│ .415│ .409│
October │ .202│ .240│ .256│ .261│ .261│ .273│ .329│ .407│ .398│
November │ .202│ .235│ .253│ .253│ .256│ .268│ .314│ .402│ .393│
December │ .202│ .233│ .250│ .256│ .250│ .268│ .319│ .402│ .391│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF ROUND STEAK.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .172│ .177│ .203│ .225│ .225│ .225│ .245│ .303│ .387│ .370
February │ .172│ .177│ .206│ .225│ .221│ .225│ .259│ .312│ .385│
March │ .175│ .179│ .212│ .228│ .219│ .230│ .263│ .316│ .391│
April │ .175│ .188│ .219│ .228│ .221│ .239│ .287│ .343│ .402│
May │ .175│ .201│ .221│ .232│ .228│ .248│ .294│ .376│ .413│
June │ .177│ .206│ .223│ .234│ .232│ .259│ .298│ .402│ .400│
July │ .177│ .206│ .230│ .241│ .236│ .256│ .303│ .400│ .404│
August │ .177│ .210│ .230│ .250│ .236│ .254│ .305│ .393│ .391│
September│ .170│ .206│ .230│ .243│ .234│ .254│ .294│ .393│ .379│
October │ .175│ .203│ .230│ .236│ .230│ .245│ .305│ .387│ .369│
November │ .172│ .199│ .225│ .232│ .225│ .239│ .294│ .382│ .362│
December │ .172│ .199│ .223│ .228│ .223│ .236│ .296│ .378│ .359│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF RIB ROASTS.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .166│ .168│ .188│ .198│ .200│ .200│ .216│ .257│ .327│ .314
February │ .168│ .170│ .188│ .200│ .198│ .202│ .226│ .263│ .327│
March │ .168│ .172│ .194│ .200│ .196│ .206│ .234│ .267│ .335│
April │ .170│ .180│ .200│ .202│ .198│ .210│ .251│ .293│ .347│
May │ .168│ .192│ .200│ .202│ .200│ .218│ .257│ .319│ .352│
June │ .168│ .196│ .202│ .204│ .204│ .224│ .261│ .335│ .339│
July │ .168│ .194│ .202│ .208│ .206│ .222│ .257│ .333│ .325│
August │ .168│ .196│ .202│ .214│ .206│ .220│ .255│ .327│ .312│
September│ .168│ .192│ .200│ .208│ .204│ .218│ .259│ .327│ .312│
October │ .168│ .190│ .200│ .206│ .202│ .214│ .257│ .323│ .306│
November │ .166│ .188│ .198│ .204│ .200│ .210│ .251│ .321│ .302│
December │ .166│ .184│ .198│ .200│ .198│ .210│ .253│ .319│ .303│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF PORK CHOPS.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .184│ .171│ .188│ .209│ .186│ .188│ .238│ .344│ .407│ .373
February │ .181│ .162│ .190│ .211│ .179│ .194│ .264│ .338│ .380│
March │ .181│ .173│ .205│ .211│ .179│ .219│ .281│ .340│ .388│
April │ .175│ .192│ .217│ .217│ .198│ .226│ .308│ .359│ .416│
May │ .175│ .194│ .211│ .224│ .209│ .230│ .308│ .369│ .433│
June │ .175│ .192│ .209│ .217│ .207│ .232│ .312│ .377│ .426│
July │ .179│ .194│ .217│ .224│ .211│ .234│ .319│ .380│ .464│
August │ .190│ .211│ .219│ .251│ .217│ .245│ .346│ .424│ .471│
September│ .192│ .222│ .228│ .238│ .226│ .264│ .390│ .464│ .460│
October │ .188│ .222│ .226│ .232│ .232│ .249│ .390│ .456│ .443│
November │ .169│ .196│ .215│ .219│ .209│ .234│ .348│ .435│ .421│
December │ .162│ .181│ .205│ .196│ .184│ .224│ .340│ .416│ .381│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF BACON.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .257│ .235│ .257│ .268│ .276│ .276│ .300│ .491│ .592│ .504
February │ .254│ .232│ .259│ .268│ .270│ .276│ .311│ .489│ .560│
March │ .251│ .232│ .265│ .270│ .268│ .281│ .336│ .494│ .554│
April │ .248│ .240│ .270│ .270│ .268│ .284│ .385│ .500│ .579│
May │ .248│ .243│ .273│ .270│ .268│ .287│ .423│ .511│ .573│
June │ .248│ .246│ .276│ .273│ .270│ .292│ .431│ .521│ .579│
July │ .251│ .246│ .284│ .276│ .273│ .292│ .434│ .530│ .587│
August │ .254│ .248│ .287│ .292│ .273│ .295│ .437│ .546│ .584│
September│ .251│ .257│ .284│ .295│ .273│ .300│ .448│ .568│ .556│
October │ .248│ .265│ .281│ .289│ .276│ .300│ .486│ .584│ .528│
November │ .240│ .265│ .276│ .284│ .276│ .303│ .489│ .590│ .510│
December │ .238│ .262│ .270│ .281│ .276│ .300│ .494│ .592│ .503│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF HAM.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .236│ .231│ .247│ .260│ .261│ .269│ .303│ .431│ .529│ .503
February │ .236│ .229│ .250│ .263│ .255│ .271│ .314│ .434│ .513│
March │ .234│ .229│ .258│ .263│ .253│ .277│ .333│ .436│ .508│
April │ .234│ .237│ .263│ .263│ .250│ .285│ .362│ .442│ .524│
May │ .234│ .239│ .263│ .263│ .253│ .290│ .383│ .452│ .524│
June │ .239│ .242│ .271│ .266│ .258│ .293│ .386│ .460│ .545│
July │ .245│ .245│ .277│ .274│ .261│ .295│ .391│ .481│ .561│
August │ .247│ .245│ .282│ .287│ .261│ .295│ .391│ .479│ .564│
September│ .245│ .247│ .277│ .287│ .258│ .303│ .404│ .513│ .552│
October │ .239│ .250│ .271│ .279│ .263│ .303│ .423│ .513│ .524│
November │ .234│ .250│ .266│ .271│ .266│ .303│ .423│ .519│ .505│
December │ .231│ .247│ .263│ .266│ .266│ .303│ .428│ .527│ .499│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF LARD.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .155│ .136│ .153│ .158│ .153│ .147│ .215│ .329│ .333│ .340
February │ .155│ .136│ .155│ .156│ .153│ .149│ .218│ .330│ .321│
March │ .145│ .136│ .156│ .156│ .152│ .152│ .239│ .332│ .333│
April │ .139│ .141│ .158│ .156│ .152│ .158│ .264│ .330│ .352│
May │ .136│ .147│ .158│ .155│ .152│ .167│ .278│ .329│ .389│
June │ .134│ .149│ .158│ .153│ .150│ .171│ .280│ .325│ .401│
July │ .133│ .149│ .160│ .153│ .147│ .174│ .275│ .325│ .420│
August │ .134│ .150│ .161│ .156│ .141│ .175│ .278│ .330│ .420│
September│ .137│ .155│ .161│ .156│ .139│ .186│ .297│ .337│ .382│
October │ .137│ .160│ .160│ .155│ .144│ .194│ .313│ .341│ .361│
November │ .137│ .160│ .160│ .156│ .145│ .213│ .327│ .341│ .364│
December │ .136│ .158│ .198│ .153│ .145│ .216│ .333│ .341│ .349│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF WHEAT FLOUR.
(Per eighth barrel—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .835│ .827│ .803│ .787│ .996│ .964│ 1.373│ 1.614│ 1.606│ 1.968
February │ .819│ .835│ .803│ .795│ 1.108│ 1.004│ 1.373│ 1.614│ 1.630│
March │ .811│ .835│ .803│ .795│ 1.092│ .964│ 1.397│ 1.614│ 1.554│
April │ .803│ .843│ .803│ .795│ 1.100│ .956│ 1.654│ 1.614│ 1.751│
May │ .803│ .875│ .811│ .795│ 1.116│ .956│ 2.136│ 1.614│ 1.823│
June │ .803│ .883│ .811│ .795│ 1.044│ .940│ 1.975│ 1.630│ 1.823│
July │ .803│ .875│ .811│ .787│ 1.004│ .931│ 1.767│ 1.630│ 1.823│
August │ .811│ .859│ .803│ .851│ .996│ 1.076│ 1.839│ 1.654│ 1.799│
September│ .811│ .843│ .803│ .907│ .940│ 1.188│ 1.791│ 1.654│ 1.775│
October │ .827│ .827│ .795│ .891│ .907│ 1.245│ 1.718│ 1.630│ 1.775│
November │ .827│ .819│ .795│ .899│ .907│ 1.397│ 1.670│ 1.630│ 1.799│
December │ .827│ .803│ .795│ .907│ .915│ 1.341│ 1.646│ 1.630│ 1.871│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF CORN MEAL.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .270│ .284│ .287│ .302│ .316│ .310│ .383│ .676│ .600│ .660
February │ .270│ .284│ .284│ .299│ .319│ .313│ .394│ .676│ .580│
March │ .267│ .284│ .284│ .299│ .319│ .310│ .397│ .696│ .574│
April │ .270│ .290│ .284│ .299│ .316│ .313│ .447│ .687│ .580│
May │ .270│ .299│ .284│ .299│ .316│ .313│ .516│ .676│ .600│
June │ .270│ .302│ .284│ .299│ .316│ .313│ .528│ .647│ .609│
July │ .273│ .302│ .284│ .299│ .313│ .313│ .566│ .637│ .629│
August │ .276│ .302│ .290│ .305│ .313│ .319│ .635│ .658│ .638│
September│ .278│ .302│ .296│ .316│ .313│ .328│ .789│ .667│ .670│
October │ .281│ .305│ .299│ .316│ .313│ .339│ .673│ .658│ .660│
November │ .281│ .299│ .302│ .316│ .310│ .365│ .682│ .629│ .660│
December │ .281│ .290│ .302│ .310│ .310│ .380│ .682│ .618│ .660│
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF EGGS.
(Per dozen—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .398│ .429│ .365│ .425│ .436│ .415│ .534│ .659│ .737│
February │ .316│ .392│ .309│ .358│ .331│ .341│ .496│ .598│ .497│
March │ .267│ .269│ .259│ .303│ .246│ .277│ .341│ .432│ .473│
April │ .243│ .258│ .247│ .250│ .253│ .267│ .378│ .415│ .483│
May │ .239│ .253│ .258│ .262│ .256│ .277│ .392│ .415│ .521│
June │ .242│ .259│ .273│ .276│ .263│ .294│ .402│ .415│ .524│
July │ .261│ .278│ .292│ .296│ .273│ .314│ .412│ .479│ .554│
August │ .286│ .303│ .323│ .326│ .297│ .354│ .452│ .523│ .588│
September│ .317│ .341│ .368│ .361│ .341│ .405│ .513│ .574│ .619│
October │ .355│ .382│ .408│ .381│ .395│ .446│ .540│ .628│ .706│
November │ .426│ .439│ .486│ .442│ .449│ .503│ .587│ .727│ .794│
December │ .443│ .412│ .466│ .469│ .456│ .520│ .621│ .794│ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF BUTTER.
(Per pound—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .365│ .431│ .411│ .400│ .388│ .386│ .454│ .569│ .708│
February │ .343│ .400│ .415│ .360│ .377│ .381│ .469│ .581│ .574│
March │ .330│ .371│ .415│ .352│ .361│ .404│ .465│ .554│ .670│
April │ .303│ .378│ .408│ .331│ .361│ .415│ .512│ .508│ .716│
May │ .296│ .367│ .361│ .328│ .350│ .373│ .469│ .512│ .681│
June │ .298│ .340│ .353│ .337│ .346│ .365│ .473│ .512│ .635│
July │ .308│ .338│ .350│ .343│ .346│ .358│ .462│ .527│ .631│
August │ .328│ .342│ .356│ .363│ .338│ .365│ .477│ .542│ .643│
September│ .360│ .379│ .379│ .379│ .338│ .392│ .496│ .596│ .662│
October │ .359│ .377│ .384│ .378│ .354│ .419│ .512│ .654│ .716│
November │ .385│ .392│ .388│ .396│ .365│ .438│ .531│ .670│ .758│
December │ .411│ .415│ .400│ .396│ .388│ .454│ .546│ .731│ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF MILK.
(Per quart—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .088│ .088│ .091│ .092│ .091│ .091│ .102│ .137│ .160│
February │ .088│ .088│ .091│ .092│ .091│ .091│ .102│ .137│ .158│
March │ .088│ .088│ .091│ .092│ .090│ .091│ .102│ .137│ .151│
April │ .087│ .088│ .090│ .091│ .090│ .090│ .104│ .135│ .154│
May │ .085│ .088│ .090│ .091│ .090│ .090│ .107│ .135│ .152│
June │ .085│ .088│ .090│ .090│ .090│ .090│ .108│ .132│ .154│
July │ .085│ .088│ .090│ .090│ .090│ .091│ .114│ .136│ .154│
August │ .085│ .088│ .090│ .091│ .090│ .091│ .117│ .140│ .159│
September│ .086│ .088│ .091│ .091│ .090│ .092│ .120│ .146│ .160│
October │ .087│ .090│ .091│ .091│ .091│ .095│ .130│ .151│ .164│
November │ .088│ .091│ .092│ .091│ .091│ .099│ .131│ .158│ .167│
December │ .088│ .091│ .092│ .091│ .091│ .101│ .134│ .160│ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
RETAIL PRICES OF POTATOES.
(Per peck—fifteenth of each month.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1911. │1912. │1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │ .259│ .378│ .236│ .280│ .220│ .352│ .583│ .486│ .487│
February │ .259│ .393│ .234│ .280│ .218│ .365│ .492│ .486│ .471│
March │ .259│ .422│ .228│ .277│ .212│ .363│ .769│ .380│ .443│
April │ .275│ .468│ .226│ .272│ .222│ .332│ .878│ .334│ .471│
May │ .313│ .438│ .237│ .290│ .230│ .363│ .912│ .334│ .502│
June │ .427│ .438│ .269│ .341│ .256│ .433│ .948│ .442│ .580│
July │ .510│ .329│ .285│ .401│ .220│ .347│ .637│ .593│ .730│
August │ .420│ .287│ .282│ .287│ .212│ .365│ .534│ .593│ .761│
September│ .357│ .246│ .285│ .271│ .204│ .417│ .445│ .593│ .655│
October │ .311│ .235│ .274│ .230│ .243│ .427│ .461│ .534│ .580│
November │ .318│ .232│ .277│ .214│ .251│ .513│ .474│ .502│ .593│
December │ .339│ .259│ .275│ .217│ .275│ .513│ .461│ .487│ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
PACKERS’ CHICAGO HAM PRICES.[16]
(No. 1 Reg., Smoked, 16 pounds.)
(Per hundredweight)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │14.80│13.70│12.70│15.20│15.30│14.70│16.20│19.70│30.00│37.00│ 18.93
February │15.60│13.70│12.70│15.50│15.30│13.70│16.20│20.50│30.50│34.00│ 18.77
March │17.60│12.00│13.30│15.80│15.20│13.30│17.30│22.50│30.50│35.50│ 19.30
April │17.60│11.90│13.40│16.50│14.80│13.00│18.00│25.00│31.50│37.50│ 19.92
May │16.80│13.50│13.40│17.00│14.80│14.00│18.20│25.30│31.50│38.50│ 20.30
June │17.20│14.50│13.40│17.60│16.60│14.70│17.70│25.30│30.00│38.50│ 20.55
July │17.20│15.30│13.50│17.80│16.60│14.70│17.70│25.30│31.00│39.00│ 20.91
August │15.60│15.30│14.50│17.80│18.20│14.10│18.50│24.50│33.25│39.00│ 21.07
September│15.40│15.00│14.70│17.00│18.30│14.10│18.70│26.30│33.25│37.00│ 20.97
October │15.20│14.00│15.40│16.00│16.30│15.70│19.30│28.30│34.50│33.50│ 20.82
November │14.30│13.00│15.20│15.10│15.00│15.70│19.40│28.00│37.00│29.25│ 20.19
December │13.70│13.00│15.20│15.10│15.00│15.70│19.60│28.00│37.50│29.25│ 20.20
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │15.92│13.74│13.95│16.37│15.95│14.45│18.07│24.89│32.54│35.66│ 20.15
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
PACKERS’ CHICAGO BACON PRICES.[17]
(No. 1 Bacon, smoked, 10–12 pounds.)
(Per hundredweight)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│1918.│1919.│Ten-yr.
│ │ │ │ │ │ │ │ │ │ │ av.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │16.30│17.00│12.50│16.30│16.20│17.20│15.40│21.00│36.50│44.00│ 21.24
February │17.00│16.40│12.50│17.00│17.00│16.30│16.40│23.50│37.00│38.50│ 21.16
March │20.20│15.40│14.20│17.50│17.20│15.30│18.50│26.40│38.50│40.00│ 22.32
April │20.10│15.30│14.70│17.80│17.20│15.00│19.70│30.60│39.50│40.00│ 22.99
May │20.00│15.30│14.70│18.70│17.20│15.60│19.70│33.30│39.25│41.50│ 23.52
June │21.50│15.30│14.80│18.70│17.70│16.60│19.10│33.30│39.00│41.50│ 23.75
July │21.50│15.30│14.80│18.70│18.60│16.60│19.00│31.20│39.00│41.00│ 23.57
August │19.70│15.50│15.70│18.70│20.40│16.20│19.00│33.50│42.50│41.00│ 24.22
September│20.80│15.50│16.30│17.60│20.40│17.00│19.10│35.70│42.50│37.50│ 24.24
October │20.80│14.20│17.50│17.20│20.30│17.70│19.10│36.70│45.50│35.50│ 24.45
November │20.80│13.70│17.50│17.00│19.70│17.70│19.10│35.50│47.00│33.00│ 24.10
December │18.00│13.40│17.00│17.10│19.00│16.70│19.00│35.40│47.50│33.00│ 23.61
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
Yearly │19.72│15.19│15.19│17.69│18.41│16.49│18.59│31.34│41.15│38.87│ 23.26
aver. │ │ │ │ │ │ │ │ │ │ │
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
PRICES OF COTTONSEED MEAL AT MEMPHIS.
(Per ton, in car lots)
═════════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═════╤═══════
│1908.│1909.│1910.│1911.│1912.│1913.│1914.│1915.│1916.│1917.│ 1918.
─────────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼─────┼───────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
January │22.50│23.50│29.63│24.13│24.25│25.38│26.50│24.25│32.75│37.50│ 46.50
February │22.50│23.63│29.50│23.25│25.13│24.88│26.13│27.25│29.00│36.25│ 46.50
March │22.63│24.25│28.50│23.38│26.00│25.13│26.75│26.88│28.38│35.75│ 46.50
April │23.25│26.25│28.00│23.88│27.25│26.75│27.75│26.88│28.87│38.00│ 46.50
May │23.38│27.50│27.13│23.88│28.00│28.00│27.75│25.75│28.12│40.50│ 46.50
June │23.75│28.50│27.13│24.50│27.00│28.75│27.50│25.00│26.75│40.50│ 46.50
July │24.00│29.00│26.50│25.38│26.75│30.63│27.25│25.63│26.75│42.00│ 46.50
August │24.50│28.25│26.00│26.50│26.75│31.75│28.00│25.75│28.75│44.00│ 46.50
September│24.00│27.50│25.75│25.00│25.00│27.25│23.75│27.13│30.75│42.00│ 46.50
October │23.75│27.38│25.25│24.63│24.38│27.13│22.75│30.75│35.25│44.00│ 46.50
November │23.63│28.50│24.38│24.63│24.63│27.38│22.38│32.00│39.25│47.00│
December │23.63│28.50│24.38│24.38│25.75│27.25│23.75│33.75│39.00│46.50│
─────────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴─────┴───────
Previous to February, 1916, the price is for 41 per cent protein meal.
From February, 1916, to November, 1917, the price is for 38.5 per cent
protein meal, and from December, 1917, on, the price is the government
fixed price for 36 per cent protein meal. Quotations are averages of
high and low for month, taken from the News-Scimitar of Memphis.
AVERAGE PRICES OF MILL-FEEDS, 1908–1915.
(Per ton)
═════════╤══════════╤══════════════╤══════════════╤══════════════╤══════════════╤══════════════
│41 per ct.│ Cottonseed │ Oil meal at │Hominy feed at│ Bran at │ Brown
│ protein │ meal at │Milwaukee.[18]│Milwaukee.[18]│Milwaukee.[18]│ middlings at
│cottonseed│Milwaukee.[18]│ │ │ │Milwaukee.[18]
│ meal at │ │ │ │ │
│ Memphis. │ │ │ │ │
─────────┼──────────┼──────────────┼──────────────┼──────────────┼──────────────┼──────────────
January │ $25.00│ $29.76│ $33.42│ $26.06│ $23.20│ $23.31
February │ 25.28│ 29.44│ 33.60│ 25.50│ 23.39│ 23.14
March │ 25.44│ 29.14│ 32.15│ 24.61│ 23.32│ 23.09
April │ 26.25│ 29.49│ 31.05│ 24.52│ 22.88│ 23.08
May │ 26.42│ 30.90│ 30.64│ 24.93│ 22.37│ 23.25
June │ 26.52│ 29.54│ 30.67│ 25.20│ 20.57│ 22.68
July │ 26.95│ 30.05│ 31.77│ 25.41│ 20.66│ 23.20
August │ 27.19│ 29.74│ 32.86│ 26.75│ 21.45│ 23.96
September│ 25.67│ 29.19│ 33.33│ 27.46│ 21.24│ 22.96
October │ 25.75│ 29.82│ 32.62│ 25.81│ 20.58│ 22.11
November │ 25.94│ 30.05│ 33.09│ 24.52│ 21.81│ 21.43
December │ 26.42│ 30.20│ 33.31│ 25.46│ 21.68│ 21.80
─────────┼──────────┼──────────────┼──────────────┼──────────────┼──────────────┼──────────────
Yearly │ 26.06│ 29.74│ 32.38│ 25.53│ 21.93│ 22.83
aver. │ │ │ │ │ │
─────────┴──────────┴──────────────┴──────────────┴──────────────┴──────────────┴──────────────
BRAN AT MINNEAPOLIS.
(Per ton)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$15.38│$17.63│$21.25│$20.38│$22.50│$21.63│$23.88│$19.00│$21.50│$22.50
Feb. │ 15.25│ 18.68│ 21.50│ 22.13│ 22.00│ 20.75│ 25.00│ 18.25│ 22.38│ 22.25
Mar. │ 14.88│ 18.88│ 22.63│ 22.13│ 20.25│ 20.63│ 24.50│ 16.50│ 24.00│ 20.63
Apr. │ 16.13│ 17.88│ 22.50│ 22.50│ 18.38│ 21.75│ 24.38│ 15.88│ 23.25│ 21.63
May │ 16.25│ 18.25│ 22.75│ 23.75│ 17.38│ 20.63│ 22.75│ 16.63│ 21.63│ 19.75
June │ 15.38│ 17.88│ 20.63│ 21.63│ 16.25│ 19.00│ 20.25│ 16.75│ 19.75│ 19.75
July │ 14.13│ 17.38│ 20.00│ 20.25│ 18.75│ 19.25│ 20.00│ 16.50│ 18.50│ 20.38
Aug. │ 13.63│ 19.13│ 19.88│ 19.13│ 19.13│ 20.13│ 19.00│ 19.25│ 21.13│ 19.63
Sep. │ 14.88│ 21.50│ 19.88│ 19.13│ 18.13│ 20.75│ 19.00│ 20.63│ 20.50│ 18.13
Oct. │ 16.38│ 23.25│ 19.50│ 18.88│ 17.38│ 21.38│ 18.63│ 19.13│ 18.88│ 17.75
Nov. │ 17.88│ 21.00│ 19.50│ 19.25│ 18.88│ 21.88│ 17.75│ 19.50│ 20.63│ 18.25
Dec. │ 17.80│ 20.38│ 19.50│ 20.63│ 20.25│ 22.33│ 18.25│ 20.25│ 20.88│ 18.50
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$19.13│$28.50│$34.00│$45.25│ │ │ │ │ │
Feb. │ 19.25│ 32.00│ 36.25│ 38.50│ │ │ │ │ │
Mar. │ 17.63│ 35.00│ 36.00│ 37.20│ │ │ │ │ │
Apr. │ 18.25│ 38.25│ 33.25│ 38.00│ │ │ │ │ │
May │ 18.63│ 36.50│ 31.38│ 36.00│ │ │ │ │ │
June │ 18.13│ 25.50│ 31.38│ 34.25│ │ │ │ │ │
July │ 17.88│ 33.25│ 29.23│ 39.75│ │ │ │ │ │
Aug. │ 19.88│ 31.75│ 29.73│ 41.25│ │ │ │ │ │
Sep. │ 21.50│ 29.50│ 29.15│ 38.25│ │ │ │ │ │
Oct. │ 25.00│ 30.50│ 28.90│ 37.00│ │ │ │ │ │
Nov. │ 26.63│ 34.38│ 28.39│ 38.00│ │ │ │ │ │
Dec. │ 25.38│ 36.25│ 37.87│ 41.00│ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
MIDDLINGS AT MINNEAPOLIS.
(Per ton)
(Minneapolis middlings are evidently a lower grade than Kansas City
shorts.)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$15.38│$16.75│$20.63│$20.25│$22.13│$21.00│$23.38│$19.13│$21.13│$22.00
Feb. │ 15.38│ 17.80│ 21.13│ 22.00│ 21.88│ 20.50│ 24.88│ 18.13│ 21.50│ 22.13
Mar. │ 14.88│ 18.25│ 22.50│ 22.13│ 20.50│ 20.00│ 24.38│ 17.13│ 22.75│ 20.63
Apr. │ 16.13│ 17.88│ 22.75│ 22.50│ 18.50│ 21.00│ 24.38│ 16.38│ 22.88│ 22.63
May │ 16.38│ 19.00│ 22.88│ 23.88│ 18.75│ 21.25│ 23.75│ 17.38│ 22.13│ 22.88
June │ 15.50│ 18.88│ 20.63│ 22.25│ 17.88│ 20.50│ 22.75│ 18.63│ 21.25│ 23.13
July │ 15.88│ 19.25│ 20.50│ 20.75│ 20.50│ 21.88│ 23.25│ 18.63│ 21.00│ 25.13
Aug. │ 15.38│ 21.25│ 21.75│ 20.13│ 21.00│ 23.50│ 22.25│ 20.50│ 23.50│ 12.25
Sep. │ 15.88│ 23.50│ 20.75│ 19.00│ 19.50│ 23.88│ 21.75│ 22.63│ 21.50│ 20.00
Oct. │ 16.75│ 24.00│ 19.50│ 18.63│ 19.25│ 23.38│ 20.00│ 21.63│ 19.00│ 18.50
Nov. │ 17.75│ 21.00│ 19.25│ 19.00│ 20.38│ 22.75│ 17.63│ 21.25│ 20.50│ 18.13
Dec. │ 17.13│ 20.00│ 19.38│ 20.38│ 21.50│ 22.38│ 18.13│ 20.50│ 21.00│ 18.33
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$19.88│$29.00│$35.25│$46.00│ │ │ │ │ │
Feb. │ 21.00│ 31.25│ 38.00│ 39.75│ │ │ │ │ │
Mar. │ 19.50│ 35.50│ 37.75│ 38.75│ │ │ │ │ │
Apr. │ 19.00│ 39.00│ 35.25│ 42.25│ │ │ │ │ │
May │ 20.00│ 36.00│ 33.25│ 45.00│ │ │ │ │ │
June │ 19.50│ 32.25│ 33.25│ 43.50│ │ │ │ │ │
July │ 19.13│ 40.00│ 30.85│ 50.00│ │ │ │ │ │
Aug. │ 21.00│ 39.75│ 31.71│ 54.00│ │ │ │ │ │
Sep. │ 23.50│ 34.00│ 31.26│ 51.00│ │ │ │ │ │
Oct. │ 27.25│ 36.50│ 30.81│ 44.00│ │ │ │ │ │
Nov. │ 30.00│ 34.50│ 30.21│ 41.50│ │ │ │ │ │
Dec. │ 27.50│ 37.75│ 40.24│ 42.25│ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
BRAN AT KANSAS CITY.
(Per ton)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$15.70│$17.70│$20.40│$19.60│$22.10│$20.10│$24.50│$19.00│$21.50│$21.90
Feb. │ 16.20│ 18.30│ 21.50│ 21.80│ 22.40│ 19.90│ 26.30│ 19.30│ 23.45│ 21.10
Mar. │ 16.70│ 18.30│ 22.30│ 22.80│ 21.50│ 20.10│ 25.90│ 17.00│ 23.50│ 20.90
Apr. │ 17.40│ 17.30│ 22.10│ 24.30│ 20.90│ 21.56│ 27.70│ 16.70│ 24.00│ 23.40
May │ 16.60│ 18.80│ 22.20│ 26.10│ 19.90│ 21.50│ 26.10│ 16.30│ 22.00│ 21.20
June │ 15.50│ 18.90│ 20.20│ 23.80│ 17.10│ 19.40│ 22.00│ 16.40│ 19.00│ 18.80
July │ 14.00│ 16.40│ 19.50│ 20.20│ 17.60│ 20.70│ 20.00│ 16.10│ 17.40│ 19.60
Aug. │ 13.50│ 18.50│ 19.30│ 18.50│ 18.40│ 20.40│ 18.50│ 20.20│ 20.80│ 18.50
Sep. │ 14.45│ 21.20│ 19.00│ 18.80│ 17.80│ 20.70│ 18.40│ 22.10│ 19.50│ 17.20
Oct. │ 16.15│ 22.60│ 18.60│ 20.20│ 17.20│ 21.70│ 18.15│ 20.20│ 18.10│ 17.60
Nov. │ 17.85│ 19.90│ 18.50│ 19.45│ 18.40│ 22.75│ 17.00│ 20.00│ 15.92│ 17.30
Dec. │ 17.70│ 19.70│ 18.80│ 20.20│ 19.00│ 23.20│ 17.60│ 20.10│ 20.20│ 17.90
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$17.90│$28.60│$37.30│$46.75│ │ │ │ │ │
Feb. │ 18.30│ 32.90│ 36.50│ 39.00│ │ │ │ │ │
Mar. │ 17.40│ 36.70│ 36.20│ 37.50│ │ │ │ │ │
Apr. │ 19.20│ 38.70│ 34.70│ 38.00│ │ │ │ │ │
May │ 19.00│ 33.80│ 34.00│ 35.50│ │ │ │ │ │
June │ 17.50│ 29.00│ 33.25│ 34.00│ │ │ │ │ │
July │ 17.20│ 35.60│ 27.72│ 37.50│ │ │ │ │ │
Aug. │ 20.10│ 34.00│ 28.70│ 46.25│ │ │ │ │ │
Sep. │ 21.50│ 28.70│ 28.63│ 36.50│ │ │ │ │ │
Oct. │ 25.20│ 30.90│ 28.16│ 35.50│ │ │ │ │ │
Nov. │ 27.80│ 39.00│ 27.81│ 37.00│ │ │ │ │ │
Dec. │ 27.00│ 35.70│ 38.41│ 40.00│ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
SHORTS AT KANSAS CITY.
(Per ton)
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1906. │1907. │1908. │1909. │1910. │1911. │1912. │1913. │1914. │1915.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$17.20│$17.50│$20.80│$21.40│$23.40│$21.90│$26.90│$20.30│$25.00│$24.60
Feb. │ 17.30│ 18.40│ 21.10│ 22.10│ 24.00│ 22.00│ 27.00│ 20.10│ 24.60│ 23.50
Mar. │ 17.60│ 18.75│ 22.70│ 23.60│ 22.80│ 21.60│ 26.70│ 19.00│ 24.20│ 22.70
Apr. │ 18.50│ 18.20│ 23.10│ 25.60│ 21.70│ 22.50│ 27.70│ 19.00│ 25.00│ 25.60
May │ 17.80│ 19.20│ 23.10│ 27.00│ 21.40│ 22.70│ 26.70│ 19.30│ 23.50│ 22.00
June │ 16.70│ 20.10│ 21.20│ 24.60│ 19.20│ 21.10│ 23.70│ 19.40│ 22.70│ 22.90
July │ 16.00│ 18.70│ 20.70│ 20.90│ 19.20│ 22.00│ 23.20│ 20.00│ 22.50│ 24.10
Aug. │ 16.10│ 20.40│ 20.70│ 19.60│ 20.50│ 24.30│ 23.40│ 23.50│ 24.00│ 24.00
Sep. │ 16.70│ 23.20│ 21.30│ 20.00│ 20.60│ 24.40│ 23.00│ 26.10│ 23.00│ 21.80
Oct. │ 18.05│ 23.70│ 21.40│ 21.80│ 20.50│ 25.80│ 22.50│ 23.80│ 20.70│ 21.30
Nov. │ 18.90│ 20.80│ 21.30│ 20.80│ 20.90│ 25.80│ 20.00│ 24.10│ 22.40│ 20.90
Dec. │ 18.40│ 20.20│ 21.30│ 21.30│ 21.20│ 26.20│ 19.00│ 24.10│ 23.70│ 20.60
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1916. │1917. │1918. │1919. │1920. │1921. │1922. │1923. │1924. │1925.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$19.70│$31.60│$41.00│$54.00│ │ │ │ │ │
Feb. │ 21.20│ 35.50│ 41.00│ 44.00│ │ │ │ │ │
Mar. │ 20.80│ 39.30│ 39.20│ 41.50│ │ │ │ │ │
Apr. │ 21.40│ 41.50│ 38.20│ 46.50│ │ │ │ │ │
May │ 21.80│ 40.50│ 38.00│ 45.00│ │ │ │ │ │
June │ 21.20│ 39.50│ 38.00│ 46.50│ │ │ │ │ │
July │ 21.30│ 44.70│ 30.72│ 52.00│ │ │ │ │ │
Aug. │ 24.60│ 45.00│ 29.97│ 54.00│ │ │ │ │ │
Sep. │ 26.90│ 42.50│ 30.50│ 52.00│ │ │ │ │ │
Oct. │ 27.70│ 41.50│ 29.65│ 48.50│ │ │ │ │ │
Nov. │ 32.91│ 44.25│ 29.31│ 45.50│ │ │ │ │ │
Dec. │ 31.30│ 44.50│ 41.16│ 45.50│ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
WAGES IN THE CITY AND ON THE FARM, WITH DUN’S INDEX NUMBER.
(On the basis of 1913 equals 1.00.)
Year.│ [19]City wages. │ Farm-hand wages by │ Dun’s index number.
│ │month without board. │
─────┼─────────────────────┼─────────────────────┼─────────────────────
1860 │ .41│ │ .97
1861 │ .41│ │ .85
1862 │ .43│ │ .99
1863 │ .49│ │ 1.44
1864 │ .55│ │ 2.33
1865 │ .61│ │ 1.62
1866 │ .64│ .89│ 1.73
1867 │ .67│ │ 1.58
1868 │ .68│ │ 1.53
1869 │ .68│ .85│ 1.38
1870 │ .68│ │ 1.24
1871 │ .68│ │ 1.27
1872 │ .68│ │ 1.26
1873 │ .68│ │ 1.19
1874 │ .67│ │ 1.19
1875 │ .65│ .66│ 1.13
1876 │ .62│ │ .97
1877 │ .59│ │ .92
1878 │ .58│ │ .80
1879 │ .57│ .54│ .81
1880 │ .59│ │ .91
1881 │ .62│ │ .94
1882 │ .63│ .63│ 1.02
1883 │ .65│ │ .89
1884 │ .64│ │ .83
1885 │ .64│ .60│ .76
1886 │ .64│ │ .74
1887 │ .64│ │ .78
1888 │ .65│ .60│ .79
1889 │ .67│ │ .75
1890 │ .69│ .61│ .77
1891 │ .69│ │ .80
1892 │ .69│ .61│ .75
1893 │ .69│ .63│ .76
1894 │ .67│ .58│ .69
1895 │ .67│ .58│ .69
1896 │ .69│ │ .62
1897 │ .69│ │ .60
1898 │ .69│ .64│ .65
1899 │ .70│ .67│ .71
1900 │ .73│ │ .76
1901 │ .73│ │ .77
1902 │ .77│ .73│ .85
1903 │ .80│ │ .83
1904 │ .80│ │ .81
1905 │ .82│ │ .82
1906 │ .85│ │ .88
1907 │ .89│ │ .95
1908 │ .89│ │ .90
1909 │ .90│ │ .99
1910 │ .93│ .91│ .99
1911 │ .95│ .95│ .98
1912 │ .97│ .98│ 1.02
1913 │ 1.00│ 1.00│ 1.00
1914 │ .95│ .99│ 1.00
1915 │ 1.00│ .99│ 1.04
1916 │ 1.20│ 1.08│ 1.21
1917 │ 1.40│ 1.33│ 1.76
1918 │ 1.75│ 1.55│ 1.94
1919 │ 1.85│ 1.85│ 1.95
─────┴─────────────────────┴─────────────────────┴─────────────────────
PIG IRON.
(No. 2 foundry, per ton, at Birmingham, first of month.)
Compiled from Bradstreet’s Journal, by the Babson Statistical
Organization.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$21.50│$10.00│$13.50│$14.50│$23.50│$13.50│$13.50│$14.00│$11.00│$10.00
Feb. │ 21.50│ 10.00│ 14.00│ 14.50│ 23.50│ 13.50│ 13.00│ 14.00│ 11.00│ 10.00
Mar. │ 18.50│ 9.50│ 14.00│ 14.50│ 23.50│ 12.50│ 12.00│ 13.00│ 11.00│ 10.25
Apr. │ 18.50│ 10.00│ 14.00│ 14.50│ 23.50│ 12.25│ 11.00│ 12.00│ 11.00│ 10.50
May │ 17.50│ 10.00│ 13.50│ 14.50│ 23.00│ 11.00│ 11.50│ 12.00│ 11.00│ 11.50
June │ 15.50│ 9.50│ 12.50│ 14.50│ 22.50│ 11.00│ 11.00│ 11.50│ 10.50│ 11.50
July │ 15.50│ 9.50│ 12.00│ 13.50│ 23.00│ 11.50│ 11.00│ 11.00│ 10.50│ 11.50
Aug. │ 13.50│ 9.50│ 12.00│ 13.50│ 21.50│ 11.50│ 13.50│ 11.00│ 10.00│ 12.00
Sep. │ 12.00│ 9.50│ 12.00│ 16.00│ 20.00│ 12.00│ 14.00│ 11.00│ 10.00│ 13.00
Oct. │ 12.00│ 9.50│ 12.50│ 17.00│ 18.50│ 12.00│ 15.00│ 11.25│ 10.00│ 13.25
Nov. │ 10.00│ 12.00│ 14.00│ 22.00│ 18.00│ 12.50│ 15.00│ 11.00│ 10.00│ 14.00
Dec. │ 9.25│ 13.50│ 14.50│ 22.00│ 15.00│ 13.00│ 14.00│ 11.00│ 9.50│ 13.50
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
(No. 2 foundry, per ton, at Birmingham, first of month.)
Compiled from Bradstreet’s Journal, by the Babson Statistical
Organization.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$14.00│$10.50│$ 9.50│$15.00│$23.00│$33.00│$31.00│ │ │
Feb. │ 13.50│ 10.50│ 9.50│ 15.00│ 24.00│ 33.00│ 31.00│ │ │
Mar. │ 13.00│ 10.75│ 9.50│ 15.00│ 26.00│ 33.00│ 31.00│ │ │
Apr. │ 13.00│ 10.50│ 9.25│ 15.00│ 33.00│ 33.00│ 26.75│ │ │
May │ 12.00│ 10.50│ 9.50│ 15.00│ 37.50│ 33.00│ 26.75│ │ │
June │ 11.00│ 10.50│ 9.50│ 15.00│ 40.00│ 33.00│ 25.75│ │ │
July │ 10.50│ 10.25│ 9.75│ 14.00│ 47.00│ 33.00│ 24.75│ │ │
Aug. │ 10.50│ 10.00│ 10.25│ 14.00│ 47.00│ 33.00│ 26.75│ │ │
Sep. │ 11.00│ 10.00│ 11.00│ 14.00│ 47.00│ 33.00│ 27.75│ │ │
Oct. │ 11.00│ 10.00│ 11.50│ 14.50│ 30.00│ 34.00│ 28.00│ │ │
Nov. │ 11.00│ 10.00│ 13.00│ 17.00│ 33.00│ 34.00│ 28.00│ │ │
Dec. │ 11.00│ 9.75│ 14.00│ 23.00│ 33.00│ 34.00│ 34.00│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
COPPER.
(Electrolytic, per pound, at New York, first of month.)
Compiled from Bradstreet’s Journal, by the Babson Statistical
Organization.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ $.119│ $.122│ $.151│ $.187│ $.241│ $.138│ $.145│ $.137│ $.128│ $.143
Feb. │ .126│ .126│ .152│ .181│ .252│ .139│ .139│ .138│ .126│ .142
Mar. │ .134│ .124│ .151│ .185│ .252│ .129│ .129│ .136│ .126│ .146
Apr. │ .150│ .129│ .153│ .186│ .253│ .131│ .129│ .135│ .123│ .156
May │ .148│ .131│ .150│ .186│ .253│ .129│ .129│ .129│ .123│ .159
June │ .144│ .128│ .148│ .188│ .248│ .127│ .136│ .129│ .123│ .168
July │ .141│ .124│ .148│ .187│ .238│ .127│ .135│ .127│ .127│ .175
Aug. │ .129│ .125│ .153│ .187│ .213│ .133│ .133│ .126│ .127│ .176
Sep. │ .135│ .125│ .161│ .187│ .179│ .138│ .133│ .128│ .126│ .178
Oct. │ .130│ .127│ .164│ .201│ .149│ .135│ .132│ .127│ .124│ .178
Nov. │ .136│ .137│ .164│ .223│ .145│ .139│ .130│ .128│ .124│ .176
Dec. │ .119│ .150│ .176│ .228│ .138│ .144│ .134│ .129│ .133│ .176
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ $.177│ $.149│ $.130│ $.229│ $.295│ $.235│ $.230│ │ │
Feb. │ .162│ .148│ .148│ .254│ .330│ .235│ .188│ │ │
Mar. │ .148│ .144│ .146│ .271│ .365│ .235│ .155│ │ │
Apr. │ .153│ .144│ .156│ .275│ .340│ .235│ .154│ │ │
May │ .146│ .142│ .186│ .285│ .310│ .235│ .153│ │ │
June │ .156│ .140│ .188│ .280│ .325│ .235│ .165│ │ │
July │ .146│ .134│ .200│ .265│ .318│ .235│ .190│ │ │
Aug. │ .150│ .130│ .183│ .263│ .290│ .260│ .235│ │ │
Sep. │ .164│ .124│ .178│ .280│ .253│ .260│ .228│ │ │
Oct. │ .169│ .118│ .180│ .285│ .235│ .260│ .215│ │ │
Nov. │ .165│ .113│ .179│ .285│ .235│ .260│ .218│ │ │
Dec. │ .146│ .128│ .199│ .345│ .235│ .260│ .183│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
CRUDE PETROLEUM.
(Per barrel, at New York, first of month.)
Compiled from Bradstreet’s Journal, by the Babson Statistical
Organization.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 1.54│$ 1.85│$ 1.50│$ 1.58│$ 1.58│$ 1.78│$ 1.78│$ 1.43│$ 1.30│$ 1.35
Feb. │ 1.50│ 1.85│ 1.39│ 1.58│ 1.58│ 1.78│ 1.78│ 1.40│ 1.30│ 1.50
Mar. │ 1.50│ 1.77│ 1.39│ 1.58│ 1.63│ 1.78│ 1.78│ 1.40│ 1.30│ 1.50
Apr. │ 1.50│ 1.68│ 1.36│ 1.58│ 1.78│ 1.78│ 1.78│ 1.40│ 1.30│ 1.50
May │ 1.53│ 1.62│ 1.29│ 1.64│ 1.78│ 1.78│ 1.78│ 1.35│ 1.30│ 1.55
June │ 1.50│ 1.62│ 1.27│ 1.64│ 1.78│ 1.78│ 1.68│ 1.35│ 1.30│ 1.55
July │ 1.50│ 1.57│ 1.27│ 1.64│ 1.78│ 1.78│ 1.63│ 1.30│ 1.30│ 1.60
Aug. │ 1.56│ 1.50│ 1.27│ 1.61│ 1.78│ 1.78│ 1.58│ 1.30│ 1.30│ 1.60
Sep. │ 1.56│ 1.53│ 1.27│ 1.58│ 1.78│ 1.78│ 1.58│ 1.30│ 1.30│ 1.60
Oct. │ 1.62│ 1.56│ 1.51│ 1.58│ 1.78│ 1.78│ 1.58│ 1.30│ 1.30│ 1.60
Nov. │ 1.77│ 1.56│ 1.61│ 1.58│ 1.78│ 1.78│ 1.53│ 1.30│ 1.30│ 1.65
Dec. │ 1.82│ 1.60│ 1.58│ 1.58│ 1.78│ 1.78│ 1.48│ 1.30│ 1.30│ 1.85
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │$ 2.00│$ 2.50│$ 1.45│$ 2.25│$ 2.85│$ 3.75│$ 4.00│ │ │
Feb. │ 2.40│ 2.50│ 1.45│ 2.35│ 3.05│ 3.75│ 4.00│ │ │
Mar. │ 2.50│ 2.50│ 1.50│ 2.40│ 3.05│ 4.00│ 4.00│ │ │
Apr. │ 2.50│ 2.50│ 1.40│ 2.60│ 3.05│ 4.00│ 4.00│ │ │
May │ 2.50│ 2.00│ 1.35│ 2.60│ 3.10│ 4.00│ 4.00│ │ │
June │ 2.50│ 1.80│ 1.35│ 2.60│ 3.10│ 4.00│ 4.00│ │ │
July │ 2.50│ 1.75│ 1.35│ 2.60│ 3.10│ 4.00│ 4.00│ │ │
Aug. │ 2.50│ 1.65│ 1.35│ 2.50│ 3.10│ 4.00│ 4.00│ │ │
Sep. │ 2.50│ 1.45│ 1.60│ 2.30│ 3.50│ 4.00│ 4.25│ │ │
Oct. │ 2.50│ 1.45│ 1.70│ 2.40│ 3.50│ 4.00│ 4.25│ │ │
Nov. │ 2.50│ 1.45│ 1.80│ 2.60│ 3.50│ 4.00│ 4.25│ │ │
Dec. │ 2.50│ 1.45│ 2.00│ 2.60│ 3.50│ 4.00│ 4.50│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
LUMBER.
(Combined quotation on 1,000 feet each of yellow pine, Pennsylvania
hemlock and eastern spruce.)
Compiled from Bradstreet’s Journal, by the Babson Statistical
Organization.
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1903. │1904. │1905. │1906. │1907. │1908. │1909. │1910. │1911. │1912.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
Jan. │ 58.00│ 61.00│ 58.50│ 74.00│ 78.00│ 68.00│ 68.00│ 71.00│ 66.00│ 71.00
Feb. │ 58.00│ 61.00│ 59.50│ 74.00│ 74.00│ 66.00│ 69.50│ 69.00│ 67.50│ 71.00
Mar. │ 58.00│ 61.00│ 59.50│ 74.00│ 74.00│ 66.00│ 69.50│ 69.00│ 68.50│ 71.00
Apr. │ 58.00│ 60.00│ 59.50│ 80.00│ 70.00│ 65.00│ 69.00│ 70.00│ 70.00│ 71.00
May │ 59.00│ 60.00│ 60.00│ 80.00│ 71.00│ 61.00│ 69.00│ 70.00│ 70.00│ 71.00
June │ 59.00│ 60.00│ 62.25│ 80.00│ 71.00│ 61.00│ 69.00│ 70.00│ 70.00│ 70.00
July │ 59.50│ 60.00│ 62.00│ 78.00│ 71.00│ 61.00│ 69.00│ 69.00│ 70.00│ 69.50
Aug. │ 61.00│ 60.00│ 63.00│ 78.00│ 71.00│ 61.00│ 67.75│ 66.00│ 70.00│ 70.50
Sep. │ 61.00│ 60.00│ 67.00│ 78.00│ 71.00│ 61.00│ 70.50│ 66.00│ 70.00│ 71.00
Oct │ 61.00│ 59.00│ 69.00│ 79.00│ 71.00│ 62.50│ 71.00│ 66.00│ 70.00│ 71.50
Nov. │ 61.00│ 59.00│ 70.00│ 79.00│ 71.00│ 64.50│ 71.00│ 66.00│ 70.00│ 72.50
Dec. │ 61.00│ 59.00│ 73.00│ 79.00│ 68.00│ 66.50│ 71.00│ 66.00│ 70.00│ 75.00
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│1913. │1914. │1915. │1916. │1917. │1918. │1919. │1920. │1921. │1922.
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
│ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $ │ $
Jan. │ 75.00│ 71.50│ 71.00│ 80.00│ 80.00│ 98.50│117.50│ │ │
Feb. │ 77.00│ 71.50│ 71.00│ 81.00│ 82.00│100.50│119.00│ │ │
Mar. │ 79.50│ 71.50│ 71.00│ 83.00│ 83.00│100.50│119.00│ │ │
Apr. │ 84.00│ 71.50│ 71.00│ 84.00│ 83.00│107.50│112.00│ │ │
May │ 80.00│ 71.50│ 71.50│ 84.00│ 87.00│120.50│112.00│ │ │
June │ 79.50│ 71.00│ 70.50│ 84.00│ 86.00│121.50│112.00│ │ │
July │ 76.50│ 71.00│ 70.00│ 78.00│ 96.00│124.00│112.00│ │ │
Aug. │ 73.50│ 71.00│ 70.00│ 73.75│ 96.00│124.00│128.00│ │ │
Sep. │ 73.50│ 71.00│ 70.50│ 73.75│ 96.50│114.00│140.00│ │ │
Oct. │ 73.50│ 71.00│ 70.50│ 73.75│ 97.50│114.00│139.00│ │ │
Nov. │ 71.50│ 71.00│ 72.50│ 73.75│ 98.50│114.00│144.00│ │ │
Dec. │ 71.50│ 71.00│ 79.00│ 79.00│ 98.50│117.50│162.00│ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
═════════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════╤══════
│ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Jan. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Feb. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Mar. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Apr. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
May │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
June │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
July │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Aug. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Sep. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Oct. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Nov. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Dec. │ │ │ │ │ │ │ │ │ │
─────────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────┼──────
Totals │ │ │ │ │ │ │ │ │ │
─────────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────┴──────
[Illustration]
Index to Tables in Appendix
Bacon prices, wholesale, 204
Bacon prices, retail, 200
Bran prices in Illinois, 197
Bran prices in Iowa, 195
Bran prices at Kansas City, 208
Bran prices at Minneapolis, 206
Butter prices on the farm, 198
Butter prices at Elgin and Chicago, 161
Cattle grades, percentage of each slaughtered at central markets, 184
Cattle prices, average native beef, 900 to 1,900 pounds, at Chicago,
147
Cattle prices, average native beef, 1,200 to 1,500 pounds, at Chicago,
148
Cattle prices, average fat cows and heifers, at Chicago, 149
Cattle prices, average canners and cutters, at Chicago, 150
Cattle prices, average native calves, at Chicago, 151
Cattle prices, average grass-fed westerns, at Chicago, 152
Cattle prices, average feeders and stockers, at Chicago, 153
Cattle prices in Illinois, 197
Cattle prices in Iowa, 195
Cattle receipts, monthly, at six markets, 172
Cattle receipts, monthly, at Chicago, 173
Cattle shipments of stockers and feeders from Omaha, 185–186
Cattle shipments of stockers and feeders from Kansas City, 189
Cattle weights at Chicago, 182
Chicago ten-year average daily prices, 126–133
Copper prices, 212
Corn exports, 193
Corn-hog ratios by decades, 120
Corn prices in Illinois, 196
Corn prices in Iowa, 194
Corn prices, monthly, at Chicago, 118–119
Corn prices in Argentina, 190
Corn receipts, monthly, at Chicago, 176
Cottonseed meal prices at Memphis, 205
Crude petroleum prices, 213
Daily prices, ten-year averages, at Chicago, 126–133
Dun’s index number, yearly, 134–135
Dun’s index number, by months since 1903, 135–139
Egg prices on the farm, 198
Exports of corn, 193
Exports of pork products, 191
Exports of wheat, 192
Greenback currency values, 125
Ham prices, wholesale, 204
Ham prices, retail, 200
Hog prices, in Illinois, 196
Hog prices in Iowa, 194
Hog prices, heavy, at Chicago, 116–117
Hog prices, average, at Chicago, 140
Hog prices, average, at Sioux City, 140
Hog prices, light, at Chicago, 141
Hog prices, pigs, at Chicago, 142
Hog prices, top, at Chicago, 143
Hog prices, top at St Louis, 144
Hog prices, top, at Omaha, 145
Hog prices, top, at Kansas City, 146
Hog receipts, monthly, at eleven markets, 164
Hog receipts, monthly, at six markets, 165
Hog receipts, monthly, at Chicago, 166
Hog receipts, monthly, at Kansas City, 169
Hog receipts, monthly, at Omaha, 167
Hog receipts, monthly, at St Louis, 168
Hog receipts, monthly, at Sioux City, 170
Hog receipts, monthly, at St Joseph, 171
Hog weights at Chicago, 178
Hog weights at Kansas City, St Joseph and Sioux City, 180–181
Hog weights at Omaha, 179
Hog weights at St Louis, 179
Horse prices on farms, 163
Horse prices, draft, at Omaha and Chicago, 163
Lard prices at Chicago, 160
Live stock movements, yearly, Bureau of Markets, 190
Lumber prices, 214
Middlings at Kansas City, 209
Middlings at Minneapolis, 207
Milk prices in Elgin-Chicago district, 162
Mill-feed price averages, 205
Oats prices in Illinois, 196
Oats prices in Iowa, 194
Oats prices, monthly, at Chicago, 121–122
Oats receipts, monthly, at Chicago, 177
Packers’ prices of ham and bacon, 204
Petroleum, crude, prices, 213
Pig iron prices, 211
Potato prices on the farm, 197
Pork exports, 191
Prices, daily ten-year averages, at Chicago, 126–133
Retail prices of bacon, 200
Retail prices of butter, 202
Retail prices of corn meal, 201
Retail prices of eggs, 202
Retail prices of flour, 201
Retail prices of ham, 200
Retail prices of lard, 201
Retail prices of milk, 202
Retail prices of pork chops, 200
Retail prices of potatoes, 203
Retail prices of rib roasts, 199
Retail prices of round steak, 199
Retail prices of sirloin steak, 199
Sheep prices, average of native lambs, at Chicago, 155
Sheep prices, average of native sheep, at Chicago, 156
Sheep prices, average of western lambs, at Chicago, 157
Sheep prices, average of western sheep, at Chicago, 158
Sheep prices, average of yearlings, at Chicago, 154
Sheep receipts, monthly, at Chicago, 175
Sheep receipts, monthly, at six markets, 174
Sheep, shipments of stockers and feeders from Omaha, 187–188
Sheep weights at Chicago, 183
Short-rib sides, prices at Chicago, 159
Shorts, prices at Kansas City, 209
Wages on city and farm, 210
Wheat exports, 192
Wheat prices at Chicago, 123–124
Wheat prices in Argentina, 190
Wool prices in Illinois, 197
Wool prices in Iowa, 195
-----
Footnote 1:
It is suggested that those who are especially interested in a study of
speculative markets read “Braces’ Organized Speculation,” or “Emery’s
Speculation on the Stock and Produce Exchanges of the United States.”
Footnote 2:
The following defense of the functions of the Board of Trade was
compiled by Mr. John R. Mauff, the secretary: “The Chicago Board of
Trade has exclusive characteristics, indispensable to the welfare of
the producer and consumer. It offers the producer a constant and
infallible fluctuating market, determined and regulated by the
inexorable law of supply and demand. It creates, thru the trading of
its large membership, representing the various branches of
agricultural and industrial activity, continuous quotations that are
collected and distributed generally and without cost to the public.
There is thus presented the opportunity for the producer to determine
at any time the exact value of his products. A further advantage is
that he can dispose of these products at any time by making a future
delivery ‘hedging’ contract to suit his inclination, regardless of bad
roads or transportation problems. Another benefit is the large and
daily open competitive market in which to display his wares before a
multitude of buyers simultaneously, obviating the otherwise impossible
task of communicating with this diversity of demands by personal
effort. Protected at all times by a set of rules and regulations
holding its members to a strict accountability for their proper
conduct as commission merchants; mandatory for suspension or expulsion
for any violation of the ethics of trade. Having at their disposal a
variety of ability only to be found in a large membership, insuring in
this way proper handling and attention because a strenuous effort is
always masterful and resourceful where competition is rife.
Dissemination of statistics relating to agriculture; the benefits of
terminal elevators equipped with modern apparatus for the proper care
of sample grades. For consumers, car shortage and other transportation
difficulties productive of business stagnation overcome by the
opportunity to purchase for future delivery the raw material where
‘short’ sales of product call for protection. Consummation of
contracts possible at all times thru the machinery of a market for
future delivery at continuous prices, reliable to the fluctuations of
a small fraction—one-eighth of one cent per bushel. In conclusion, and
by no means least, the facilities offered for thus establishing value
in every part of the United States, with no inequality because of
geographical location, and so a death knell to the exploiters of
producers and consumers because of this knowledge widely disseminated
and so easy of understanding.”
Footnote 3:
The skew curves of supply and demand, as derived by H. L. Moore, in
his book on “Economic Cycles,” furnish mathematical proof of this
statement so far as corn and oats are concerned.
Footnote 4:
The chart printed in connection with the chapter, “Pork Exports, the
Barometer of Corn Belt Prosperity,” gives forty-four years of profit
and loss areas per acre of corn in the twelve north central states,
the method used being the ratio method as described in the above.
Footnote 5:
It may be argued that the price of hogs determines the price of corn,
and that the price of corn determines the price of land. This to a
large extent may be true, and yet not interfere with the usefulness of
the ratio method for purposes of price judging.
Footnote 6:
The link relative method of finding the normal seasonal variation, as
used by Warren M. Persons, in the January, 1919, Review of Economic
Statistics, is far more difficult than the method here used, and for
our purposes is not worth while.
Footnote 7:
Warren M. Persons, in a footnote on page 35 of the January, 1919,
Review of Economic Statistics, expresses the method of ascertaining
percentage departure from the secular trend in mathematical symbols as
follows: “Let the original series beginning with January be X_{1},
X_{2}, X_{3}, ... X_{n}, the ordinates of secular trend be O_{1},
O_{2}, O_{3}, ... O_{n}, and the adjusted indices of seasonal
variation for twelve months be S_{1}, S_{2}, S_{3}, ... S_{12} per
cent, respectively. Then the items for secular trend and seasonal
variation are:
X_{1} − S_{1}O_{1}/O_{1}, X_{2} − S_{2}O_{2}/O_{2}, X_{3} −
S_{3}O_{3}/O_{3}, ... X_{3} − S_{1}O_{13}/O_{13} etc.”
Footnote 8:
These figures are based on seasonal correction factors as follows:
January, 96; February, 100; March, 105; April, 104; May, 101; June,
101; July, 103; August, 101; September, 103; October, 100; November,
94; December, 92. These factors are practically the same as those used
on page 84.
Footnote 9:
Since the chapter, “Limitations of the Mathematical Method,” was
written, it has been discovered that hog receipts at eleven markets
are a more accurate indicator of hog prices than receipts at Chicago,
and that prices of Connelsville coke are a better indicator of the
demand for hogs than bank clearings outside New York City. The
multiple coefficient of correlation between hog prices on the one hand
and Chicago hog receipts and bank clearings outside New York City on
the other hand is .65, whereas between hog prices and hog receipts at
eleven markets and coke prices the multiple coefficient of correlation
is .70.
Footnote 10:
This is the average as given in the Drovers’ Journal Year Books. It
evidently is a weighted average based on varying receipts.
Footnote 11:
This is a simple average and not strictly comparable with the Chicago
averages, which are weighted on the basis of varying receipts.
Footnote 12:
Interpolated from Kansas City market, on account of foot-and-mouth
disease closing Chicago market.
Footnote 13:
Omaha prices, 1903 to 1907, inclusive; Chicago prices after 1907.
Footnote 14:
Prices for both wheat and corn are taken from the Year Books of the
Rosario Board of Trade. Rosario is the Chicago of Argentina. The
Argentine unit of weight, the quintal, is taken as equivalent to 3.67
bushels of wheat and 3.936 bushels of corn. The Argentine dollar is
taken as equivalent to 42.6 cents. After July of 1918, prices are
taken from the International Institute of Agriculture.
Footnote 15:
Flour exports converted into wheat at the rate of four and one-half
bushels of wheat to a barrel.
Footnote 16:
These figures, previous to 1917, were taken from charts furnished by
Dr. L. D. H. Weld, of Swift Company. Since 1917, the source has been
the Daily Trade Bulletin of Howard Bartels. The top price for the
month is used in every case.
Footnote 17:
These figures, previous to 1917, were taken from charts furnished by
Dr. L. D. H. Weld, of Swift Company. Since 1917, the source has been
the Daily Trade Bulletin of Howard Bartels. The top price for the
month is used in every case.
Footnote 18:
The Milwaukee prices were compiled by Professor F. A. Pearson, of the
University of Illinois, from the reports of the Western Feed Bureau.
Footnote 19:
From 1860 to 1890, wages are based on the investigation made by the
Department of Labor for the senate committee investigating prices and
wages, and reported in Senate Document 1394. Wages from 1890 to 1907
are based on Bulletin 77 of the Bureau of Labor Statistics, and from
1907 to 1913 on unpublished data of the Bureau of Labor Statistics,
prepared for the San Francisco Exposition. Figures since 1913 are
estimated from reports of manufacturing establishments in New York
state, reports of wages paid by the United States Steel Corporation,
and reports of the Bureau of Labor Statistics as to wages existing in
cotton goods, men’s clothing, lumber, and furniture industries. It is
believed that the figures since 1913 are roughly accurate, but that
they may have to be revised to make them comparable with the preceding
series. Farm-hand wages are derived from the December, 1919, Monthly
Crop Reporter of the Bureau of Crop Estimates.
------------------------------------------------------------------------
TRANSCRIBER’S NOTES
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