142 



Types and Market Classes of Live Stock 



Cutter and canner prices exhibit no marked high and low spots, 

 and the high points in prices are the most irregular in occurrence of 

 any class of cattle. 



Largest receipts of veal calves arrive in April and May. Highest 

 prices are made in SeptemB^r and lowest prices in April. One reason 

 for the low price in April is that a large majority of spring calves are 

 too small to yield high-class veal. Fewest light-weight calves are 

 received in September and October. 



Two kinds of fluctuations are evident in live-stock prices. One 

 may be termed the "general trend." This affects prices over a con- 

 siderable period of time and is usually associated with changes in prices 



Fig. 46. — Effect of the supply of cattle upon live prices and beef prices, as 

 shown by receipts at seven leading markets, prices paid for cattle by Swift and 

 Company on its entire cattle purchases in the United States, and prices received by 

 Swift and Company for dressed beef. Note that prices for both cattle and beef are 

 highest in seasons of lightest receipts, and lowest when there is the largest supply. 



of other commodities. The other consists of daily, weekly, monthly, 

 and seasonal fluctuations, due largely to variations in supply and not 

 associated with changes in prices of other commodities. These two 

 classes of fluctuations are both well illustrated in the following table ^ 

 giving the monthly and yearly average prices of beef steers at Chicago 

 for ten years. The general trend of prices is shown by the yearly 

 averages at the bottom of the table. The monthly or seasonal fluctua- 

 1 Compiled from Drovers Journal Year Books of Figures. 



