32 BULLETIN 979, U. S. DEPARTMENT OF AGRICULTURE. 



The first bids made are usually below the price asked and are then 

 raised (unless the market is very weak) to meet the offer of the 

 seller, which is frequently reduced slightly to effect a sale. If 

 the bids and offers do not reach the same amount no sale is effected. 

 Buyers in most cases do not depend entirely upon the grade certificate 

 as to the character of the ha}^ but visit the receiving yards and inspect 

 the hay before the market opens. 



The advantage of this method is that it establishes a cash market 

 price for "each da}^ upon which bids to country shippers and offers 

 for shipment may be based. It also assures the country shipper that 

 his hay has been offered in an open market and sold to the highest 

 bidder. The principal difficulty arises when the buyer maintains that 



Fig. 4.- -Selling hay at the car door. 



the \irj is not all of the same quality and demands a reduction or 

 elects to take it at the price of the lower grade. 



Sales at the Cak Dook. 



In a number of markets, including Chicago, St. Louis, and Minne- 

 apolis, trading is done in the railroad yards where the cars have beec 

 placed for sale. The doors of the car are opened and seller and btryer 

 conclude the sale of the hay at the car door. Since only the bales at 

 the door of the car can be seen, the buyer usually makes the purchase 

 on the condition that all the hay is of the grade showing at the door. 

 If the shipper has loaded the car uniformly and. the buyer is fair, 

 this method of sale is satisfactory, although it is sometimes difficult to 

 determine the actual quality of the hay by examining only the ends 

 of a few bales (fig. 4). 



