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 

 butter and cheese prices for the same period. 



are 



Table XXXVII 



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

 Market, igoS-igis, and of Milk Based on Butler and Corn Prices '■ 



Cheese 



Butter y corn 



January 



February . . . . 



March 



April 



May 



June 



July 



August 



September. . . 



October 



November. . . 



December. . . 



Average . 



104.9 

 101. o 

 100.2 

 98.7 

 93.2 

 94.0 

 94.0 

 9S.6 



lOI.O 



102.3 



104.9 

 109.5 



100 



It will be noticed that whereas milk varied from a low 

 of 69.9 to a high of 11 8.3, butter varied from only 89.6 to 

 116.1, and cheese from 93 to 106.7. To tabulate more 

 concisely, we get the following comparison: 



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



