CORX AXD HOG COEKELATIOXS 
37 
price, as estimated, lags behind winter price. Analysis indicates 50 
per cent determination by winter price, S per cent by preceding 
summer price, and 28 per cent joint, a total of 86 per cent determina- 
tion. 
In attempting to analyze the more complex relations, it will be well 
to limit the discussion at first to the six relatively independent 
variables dealing with western pack — slaughter, live weight, and 
price each for summer and winter. Whatever indication they give 
of factors, other than the corn crop, which affect the hog situation, 
will first be sought. 
Table 8. — The five maximum correlations with preceding variables shown by 
western summer pad:, winter hog price, summer hog price, winter live weight, 
winter pack, and -summer live weight (order of per cent determination by preceding 
corn prices) in relation to each other and com crop and corn prices 
(Year indicated 
in italics in parentheses 
as in Table 7) 
Per cent 
determi- 
nation 
by corn 
prices 
Five highest correlations 
. 
] 
L 2 
Per cent 
Summer pack I 57 
Winter hog price 55 
Summer hog price 50 
Winter live weight 47 
Winter pack j 37 
Summer live weight j 31 
+■61 Corn crop (2) —.58 Corn price (2). 
+.69 3. price (0) -.63 S. weight (2). 
+.76 W. price (2) -.68 S. weight (2). 
+.64 Corn crop (0) -.64 Corn price (0). 
+.78 S. weight (2) +.63 S. pack (0). 
-.61 S. weight (*) -.61 W. pack (2). 
Item 
Per cent 
determi- 
nation 
by corn 
prices 
Five highest correlations 
Summer pack 
Winter hog price ! 
Summer hog price 
Winter live weight 
Winter pack 
Summer live weight 
Per cent 
31 
+ .50 W. weight (2)_„ 
-.56 W. weight (2)___! 
+.66 Corn price (2)_. 
+.48 S. weight (0) 
—.52 Corn price (*)__ 
— .51 Corn price (2)__ 
+.48 S. weight (2) -.45 W. price (2). 
+.56 Corn price (2)__ -.49 S. weight (0). 
-.58 W. weight (!)__. +.51 W. pack («). 
-.33 S. pack (0) -.27 Corn crop (-3). 
-.50 S. price (0) -.45 W. price (2). 
-.38 S. pack (2) +.37 Corn crop (2). 
Some light is thrown on this problem by making a list of the five 
highest correlations between each of the above-mentioned six variables 
and a preceding value of one of the others or of the corn crop or price. 
These correlations are shown in Table 8. The hog variables are 
arranged according to the extent to which they are determined by 
preceding corn prices. A rather striking result is brought out. This 
is the high correlation in each case with a preceding summer weight, 
the hog variable, which is on the whole most independent of corn 
prices or crops. Summer weight itself shows its highest correlation 
with previous conditions in that of —0.61 with the second preceding 
summer weight. Winter slaughter is the next most independent of 
corn prices. It shows the remarkably high correlation of +0.78 with 
the summer weight a year and a half before. Winter weight is more 
closely correlated with the preceding summer weight than with any 
other" hog variable. The same is true of summer and winter hog 
prices except that each shows a higher correlation with the imme- 
