114 Agricultural Prices 



weight, grade, dressing percentage and probable Chicago price. 

 An ingenious teacher, who is familiar with economics and market 

 grades of grain and live stock, can think of many devices to bring 

 home to his students the fact that the market is a living thing, j'et 

 subject to certain laws which are almost as exact as Mendel's law 

 of inheritance. 



The author will appreciate being informed of any mistakes in 

 the figures. Great pains have been taken to make them accurate, 

 but it is inevitable that a few mistakes will creep in. 



The following gives a description of grades and sources of in- 

 formation for some of the products for which figures are given in 

 the tables of the Appendix : 



HEAVY HOG PRICES AT CHICAGO. 



From 1896 to date, heavy hog prices, as compiled by Chas. A. S. 

 McCracken for the Chicago Drovers' Jounial Year Book, have been used. 

 From 1881 to 1895, inclusive, the average of the range of Chicago hog 

 prices, as compiled by the Cincinnati Price Current, has been used. 

 Properly speaking, these prices refer more nearly to average hogs than 

 to heavy hogs. Previous to 1881, prices have been compiled from the 

 Chicago Board of Trade Reports, the grade known as heavy packers and 

 shippers being used so far as possible. 



CORN PRICES AT CHICAGO. 



"^ No. 2 mixed has been used thruout. From 1880 to 1916, inclusive, the 

 average of the high and low for the month has been taken. Since Jan- 

 uary, 1917, each day of the month has been averaged. Previous to 1880, 

 averages were taken either weekly or semi-monthly. All figures are de- 

 rived either from the Howard-Bartels Red Book or the Chicago Board of 

 Trade Reports. The two sources generally agree. 



OATS PRICES AT CHICAGO. 



Previous to 1876, the grade known as No. 1 was chiefly used. Since 

 1876, No. 2, Standard or Contract oats has been used. Previous to 1881, 

 averages were taken weekly or semi-monthly. Since 1881, the high and 

 low for the month have been averaged. Previous to 1881, Chicago Board 

 of Trade Reports were used. Since 1881, the Howard-Bartels Red Books 

 have been used, which quote practically the same figures as the Board 

 of Trade. 



WHEAT PRICES AT CHICAGO. 



Previous to 1883, the grade known as No. 2 Spring was used, weekly 

 or semi-monthly averages being taken from the Chicago Board of Trade 

 Reports. From 1883 to 1903, inclusive, there is a slight confusion in 

 grades, but the No. 2 Spring is used chiefly, averages of high and low for 

 the month being taken from the Howard-Bartels Red Book. 



From 1901 to 1913, inclusive, prices are based on No. 2 Red and No. 1 

 Northern, the high of the one and the low of the other being used. From 

 1914 on, prices are based on No. 2 Red, No. 2 Hard and No. 1 Northern, 



