MILK PRICES 



209 



Table XXXVII brings out the usual relationship be- 

 tween prices of butter, cheese, and milk, as well as milk 

 prices based on butter and corn prices. Column 3 in Table 

 XXXVII shows the percentage monthly variation in milk 

 prices in Chicago, 1908-1915. In columns i and 2 are 

 butter and cheese prices for the same period. 



TABLE XXXVII 



Relative Monthly Prices of Butter, Cheese, and Milk Based on Chicago 

 Market, 1908-1915, and of Milk Based on Butter and Corn Prices 1 



It will be noticed that whereas milk varied from a low 

 of 69.9 to a high of 118.3, butter varied from only 89.6 to 

 1 1 6. i, and cheese from 93 to 106.7. To tabulate more 

 concisely, we get the following comparison: 



Cheese Low. . . . 93 . o High 

 Butter Low .... 89 . 6 High , 

 Milk Low 69 . 9 High 



106.7 

 116.1 

 118.3 



Difference. . 

 Difference. . 

 Difference. . 



..26.5 

 ..48.4 



1 Pearson, F. A. Farm Econ. Jour., Oct., 1919, p. 94. 



