TABLE OF CONTENTS 



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PART I. 



Our Present Price-Registering System 7 



The Three Price-Making Forces 11 



Criticism of Our Price-Making System 15 



Supply and Demand 20 



Can "Price" Make "Supply and Demand"? 22 



Cost of Production 26 



Ratio Method of Determining Cost of Producing Hogs 30 



Supply and Demand Versus Cost of Production 36 



Cattle Prices and the Ratio Method 39 



Packer Prices and the Ratio Method 41 



Milk Price Determination 44 



Cost of Producing Crops 49 



Consumers' Ratios 52 



Technique of the Ratio Method 57 



Limitations of the Ratio Method 60 



Retail and Wholesale Prices 62 



Pork Exports the Barometer of Corn Belt Prosperity 64 



Corn Belt Land Values and the Cost of Producing Corn 72 



Price Stability and Soil Fertility 74 



Measuring Total Crop Production 75 



PART II. 



Mathematical Study of Supply and Demand in the Hog Market 81 



Predicting the Future of Hog Prices 98 



Limitations of the Mathematical Method 103 



Conclusions Based on Ratios and Mathematics of Supply and 



Demand 106 



Appendix 113 



