Types and Market Classes of Live Stock 



265 



these three months average highest for the ten years. These are the 

 months of small receipts. 



Lowest monthly prices are enclosed in parenthesis. These are 

 also scattered throughout the table, but the ten-year averages show 

 that October (the month of largest average receipts) is the month of 

 lowest average prices. The ten-year averages show a continued rise 

 from October to March, and a continued decline from April to October. 

 Between the April and October average prices for the ten years the 

 difference in price is $1.45. 



Greater uniformity would occur in the highs and lows of the 

 various years had it not been for the fact that the very marked and 

 long continued rise in price from 1914 to 1918 largely superceded the 



RECEIPTS 



300 400 500 



PRICES 



Fig. 95. — Sheep and lamb receipts and fat lamb prices at Chicago. This 

 chart shows average monthly receipts of sheep and lambs in thousands, and monthly- 

 average prices of all lambs sold for slaughter, except spring lambs, for ten years, 

 1913 to 1922. Prices are represented by black bars. Receipts are represented by 

 white bars, but each white bar is prolonged in black to make all of equal length, the 

 longer the black coloring the smaller the average monthly receipts. This brings out 

 in striking manner the correlation between total receipts and mutton lamb prices. 



seasonal variations in establishing monthly averages within these years. 

 The same statement applies to the drop in price from 1918 to 1921. 

 That there are nevertheless marked seasonal variations in prices is 

 shown by the monthly averages for the entire ten years. These 

 monthly averages are illustrated graphically in Fig. 95. 



Fat Iamb prices as related to supply.— That the price of lambs 

 varies directly in relation to supply is shown in the accompanying chart 

 illustrating the comparison between average monthly prices of mutton 

 lambs (except spring lambs) and average receipts at Chicago for ten 



