FACTORS AFFECTING THE PRICE OF HOGS 
45 
the index from 110 to 122.5 being accompanied by an increase of 
nearly 4 per cent in the demand index. Taking into account the fact 
Net Regression of the Demand index on four factors 
INDEX 
OF TOTAL 
DEMAND 
100 
S5 
105 
100 
95 
105 
100 
95 
10 
105 
100 
95 
90 
70 
\ i 
X4 PROVISIONS IN STORAGE 
50 100 150 200 250 300 350 
STORAGE STOCKS, CORRECTED FOR SEASONAL VARIATION. MILLIONS OF POUNDS 
I I f 
X5 INDEX OF BUSINESS CYCLES 
90 95 100 105 110 115 120 
DEFLATED PRICE OF INDUSTRIAL STOCKS, IN PER CENT OF AVERAGE PRICE 
r 
X 7 PRICE 
1 
OF STEERS 
^J****** 
y^ 
, 
1 
1 
I 
1 
,00 
6.50 7.00 7.50 • 8.00 8.50 
DEFLATED PRICE OF STEERS AT CHICAGO - DOLLARS 
5.00 
X s F 
"OREIGN D 
IMAND 
■* 
1 
1 
1 
1 
80 
90 !00 110 120 
INDEX OF FOREIGN DEMAND 
130 
140 
Fig. 29 — Net regressions of index of total demand on each of four factors. These curves show the net 
change in the index of total demand for given changes in each of the factors, the value of the 
other three factors remaining unchanged 
that the demand index was derived from a "deflated" price, this 
indicates that hog prices do not fall as sharply in periods of industrial 
