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 nec- 

 essary before one can fully appreciate the extraordinary or stra- 

 tegical 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 Re- 

 porter, published weekly by the United States Department of Agri- 

 culture ; 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 Sta- 

 tistics. It is hoped that eventually the Bureau of Markets of the 

 United States Department of Agriculture will have available ex- 

 ceedingly 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 rela- 

 tionships. 



In all price questions, the problem of grade is involved. Gradu- 

 ally the grade classifications have been made more and more scien- 

 tific, 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 posi- 

 tion to demand it. 



Market figures furnish the laboratory of economics. It is be- 

 lieved 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 



