34 MASS. EXPERIMENT STATION BULLETIN 231 



figures. In several of the 47 seasons the prices fluctuated so that there 

 was no definite movement either up or down. 



Fluctuations from Year to Year 



Those price fluctuations which are apparent from one year to another 

 naturally show wider divergencies than do those within a season. The range 

 for the period of 47 years was from $1.03 per barrel in 1896-97, to $6.71 

 in 1919-20, with an average of $3.36 per barrel. The low price of 

 1896 was due to an exceptionally large crop, especially in New England 

 and New York, and to unusuallj' low prices for all commodities. The 

 season of 1919-20, as will be remembered, was one of generally high prices- 

 and of a short apple crop. 



In Chart 3 is presented the range of yearly prices of Baldwin apples 

 in Boston from 1912-13 to 1925-26. The period shows two distinct move- 

 ments, the first from 1912-13 to 19J8-19 having a comparatively narrow 

 range between high and low prices of apples of the specified grade, and 

 numerous fluctuations. The second movement from 1919-20 to 1925-26 is 

 marked by fewer fluctuations but much wider range of prices. This dif- 

 ference between the two periods is apparently due to tlie increasing demand 

 for apples of the better grades. 



Baldwin and General Prices 



In Chart 4 the index of prices of No. 1 Baldwin apples is compared 

 with the index of the general price level for the period from 1890 to 1925. 

 Previous to the war the price of apples fluctuated widely, more often above 

 than below the level of general prices. During the war the two lines ran 

 fairly close together; but the last few years have again seen wider fluctu- 

 ations of the price of apples from the price of general commodities. The 

 basis in both cases was the average of prices for 1910-1914. 



Overproduction or short crops produce fluctuations in the prices of 

 most farm products. Because orchards come into bearing only after 

 several years of growth, these periodic fluctuations are much longer than 

 with most crops. Orchardists should therefore find it profitable to study 

 Chart 5 which shows the trend and fluctuations of Baldwin prices from 

 1889 to 1924. The movement in the years since 1913 is somewhat up- 

 ward, although for the whole period of 36 years the trend is downward. 



Baldwin and Mcintosh Prices 



Because statistics of production and commercial crops of the different 

 varieties of apples are not available, it is impossible to offer explanations 

 of the variations in prices of varieties from one year to another. The 

 general trends of prices of Baldwin and Mcintosh apples on the Boston 

 and New York markets lie in the same direction. During the ten seasons 

 from 1916-17 to 1925-26, the price of No. 1 Mcintosh apples averaged 44 

 per cent higher on the Boston market than the price of No. 1 Baldwin 

 apples during the months when the Mcintosh was on the market. Con- 

 sidering the entire season, the prices of Baldwin apples averaged somewhat 

 higher, but still much below the Mcintosh. On the New York market the 



