TYPES AND MARKET CLASSES OF LIVE STOCK 



123 



Market values of the various classes. In determining the 

 comparative market values of the various market classes, aver- 

 ages for one year are not sufficient as a basis for comparison. 

 The following table gives the yearly average prices at Chicago 

 for the several market classes from 1909 to 1918, and also the 

 averages for the entire ten-year period: 



* No outlet, due to outbreak of foot-and-mouth disease and quarantine of the yards. 



From the standpoint of averages, it will be observed that 

 the price of a fat steer bears a constant relation to his weight, 

 the heavier the steer, the higher the price per cwt. This is 

 due to the fact that as a steer becomes older he fattens more 

 easily; and in dealing with groups of very large numbers of fat 

 steers of different weights, all factors determining value are 

 equalized except the factor of fatness. Between the average 

 prices of 900-pound and 1,125-pound fat steers, there is a differ- 

 ence of 50 cents per cwt.; between 1,125-pound and 1,275-pound 

 steers, the difference is also 50 cents; between 1,275 and 1,425 

 pounds, it is 55 cents; and between 1,425 and 1,600 pounds, 

 it is 50 cents. The sum of all these differences is $2.05, 

 which is the difference between the average prices of the lightest 

 and heaviest groups of fat steers. All fat steers together sell 

 75 cents higher than western range steers, and $2.70 higher 

 than butcher stock. Between stockers and feeders and fat 

 steers, there exists a margin of $2.20 based on the Chicago fig- 

 ures. Butcher stock sell $1.80 higher than cutters and canners. 

 Veal calves bring the highest price of any class, exceeding the 

 price of fat steers by $1.35. 



