PLANNING THE FARM 99 



together the knowledge and the materials necessary to 

 inaugurate the new. 



If one has a few principal lines, he may cater some- 

 what to prices in choosing the relative energy and time 

 to devote each year to the respective lines of production. 

 Prices depend so much on unforeseen conditions that, at 

 best, something must be left to chance. There are, how- 

 ever, a few simple rules which are worthy of recognition. 

 When the price of a product is abnormally low, it is a 

 far better time to get ready for producing more of it 

 than when prices are high. One extreme follows another 

 in the prices of staple farm products which can easily 

 be produced. Thus high prices for pork usually alter- 

 nate every several years with low prices. High prices 

 for horses, in like manner, are sure to follow low prices. 

 The length of the periods of change require a longer 

 time with horses than with hogs, because horses will not 

 reproduce in large numbers at so rapid a rate as hogs, 

 and each animal requires several times as long to reach 

 maturity. When prices are very high is usually not the 

 best time to purchase foundation stock for new herds, 

 because high prices are sure to fall. Low prices are 

 nearly always followed by higher prices in agricultural 

 products. 



By keeping posted in the lines of production, the 

 farmer can sometimes foresee that there are evidences of 

 a coming strong demand for certain products and a slow 

 demand for other products. One acquainted with the 

 wonderful development of cattle ranches during the 

 decades 1870 to 1890 could not fail to see that the supply 

 of beef in this country was increasing more rapidly than 

 the demand, a condition which always results in falling 

 prices. On the other hand, the fact that prices of beef ad- 

 vanced, rather than fell off, during the financial panic, fol- 

 lowing 1893, when the people had less money with which 

 to purchase meats, could be taken by the farmer, at the 



