THE LIVE STOCK FIELD 5 



increase in magnitude as the years go by, because 

 of the unwillingness or inability of the American 

 farmers to increase their production of animals as 

 rapidly as the population increases. This fact 

 does not necessarily warrant any unusual alarm, 

 because, as the situation demands it, a readjust- 

 ment between supply and consumption will take 

 place. Just as soon as it becomes apparent that 

 more animals must be raised, farmers will be found 

 who will increase their holdings of live stock. Con- 

 ditions in the United States, however, do indicate 

 that the producer of live stock is assured of higher 

 values, which, of course, is gratifying to him. The 

 consumer also must make up his mind to pay a 

 higher price, whether he wants to or not. The 

 trend of high prices, however, sympathetically 

 shows the relation of supply to demand. When 

 prices are high, it goes without saying that the 

 supply is not keeping pace with demand. 



The following table indicates the price at the 

 beginning of 1910 for the different classes of 

 animals produced in the United States, in com- 

 parison with the highest prices ever previously re- 

 corded : 



Changes from High Point 



,— High point-, 



Tear Price 



Horses 1909 $91.02 



Mules 1908 99.72 



Milch cows 1909 32.00 



Other cattle 1900 24.83 



Hogs 1907 7.63 



Sheep 1907 3.89 



The above table indicates that the prices of all 

 classes of farm animals, with the exception of those 

 listed under fat cattle, have increased, and of 



