PRICES OF PRODUCTS 



The price of Indian corn on the Chicago market 

 reached its lowest figure for the twelve years from 

 1892 to 1903, in September, 1896, when it was 

 19.5 cents per bushel. The minimum price of 

 hogs on the same market for the same period was 

 likewise reached in September, 1896, when the 

 lowest was $2.45 per 100 Ibs. On the other hand, 

 the highest Chicago price of maize for this period 

 is given at 88 cents per bushel, which price was 

 reached in July, 1902, and it was in the same 

 month of that year that the price of hogs on the 

 Chicago market rose to $8.75 per 100 Ibs., which 

 is the highest price quoted in that market for the 

 twelve years under consideration. 1 



But when shorter periods are taken into ac- 

 count, a rise in the prices of feed stuffs is often 

 accompanied by a fall in the prices of the live 

 stock which is dependent upon this food supply. 

 It is a matter of common observation among 

 farmers that if there is a great abundance of grain, 

 hay, and forage crops available in the fall of the 

 year, there is usually a great demand for "stock 

 cattle," and there is no rush about marketing the 

 fat cattle which are intended for the market. As 

 a result, the prices of cattle are relatively high in 

 comparison with the prices of the materials on 

 which they are fed. Again when a dry summer 

 cuts the crops short, so that the number of cattle 

 which should be kept through the winter is very 



1 See table appended to this chapter. 

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