Agricultural pricesWallace, Henry A. (Henry Agard)
Science
Agricultural prices
Wallace, Henry A. (Henry Agard)
Agriculture -- Statistics; Farm produce; Prices
It is suggested that those who are really interested in prices should
fill in month by month in the blank tables the figures as they become
available. Sources of current figures are the Market Reporter, published
weekly by the United States Department of Agriculture; the daily live
stock papers published at the great central markets; the Monthly Crop
Reporters, published by the United States Department of Agriculture,
and, so far as retail prices are concerned, the monthly publications of
the Bureau of Labor Statistics. It is hoped that eventually the Bureau
of Markets of the United States Department of Agriculture will have
available exceedingly valuable figures. At present, however, the Bureau
of Markets figures are practically worthless because they have not been
continued long enough to have sufficient background to enable anyone to
judge them properly.
The effort has been made in the prices here collected to cover the
period immediately preceding the war quite thoroly, in order that those
who are interested may work out normal pre-war relationships.
In all price questions, the problem of grade is involved. Gradually the
grade classifications have been made more and more scientific, but even
to this day there is haziness in certain products, notably cattle. It is
believed, therefore, that the cattle prices are more unreliable than any
other. Scientific grading of cattle is possible, and will be adopted as
soon as the producers are in position to demand it.
Market figures furnish the laboratory of economics. It is believed that
it is as essential for students at agricultural colleges to do
laboratory work in economics as it is for them to spend such a large
part of their time in the chemical, zoological or botanical
laboratories. When the agricultural students judge marketable live
stock, it is suggested that they be required to estimate the weight,
grade, dressing percentage and probable Chicago price. An ingenious
teacher, who is familiar with economics and market grades of grain and
live stock, can think of many devices to bring home to his students the
fact that the market is a living thing, yet subject to certain laws
which are almost as exact as Mendel’s law of inheritance.
The author will appreciate being informed of any mistakes in the
figures. Great pains have been taken to make them accurate, but it is
inevitable that a few mistakes will creep in.
* * * * *
The following gives a description of grades and sources of information
for some of the products for which figures are given in the tables of
the Appendix:
HEAVY HOG PRICES AT CHICAGO.
Public-domain text, read in full here on John Shaqi.
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