Economic essays

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Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Title:: The holding movement in agriculture / Jesse E. Pope

Collection:: Economics Books

THE HOLDING MOVEMENT IN AGRICULTURE 249 cotton on November first, 11.8 cents, is used as a basis—100. The average ten year price on January first is 11.6 cents and the relative price on January first is 98, i.e., 11.6 divided by 11.8 and the result multiplied by 100. For the movement to market, the ten year average amount delivered on November first, 1,275,500 bales, is used as a basis—100, and the relative amount on January first (628,700 bales), is found to be 49. The price on a given date less the carrying charges to that date represents the net selling price and the difference between this net selling price and the price at the beginning of storage represents the farmer’s gain or loss from holding. The conclusions are drawn from the statistics printed in the fol- lowing tables. The first table shows the relative average monthly receipts and selling price (per bushel) of wheat, and relative average monthly price, if held, during the ten year period, 1903-12. August September October . November December January February March April . May June July TABLE 1 WHEAT AY Ca § | ==} AVERAGE MoNTHLY PRICE FOR TEN YEAR PERIOD (Cents) RELATIVE AVERAGE MONTHLY PRICE FOR FEN YEAR PERIOD 104.5 101.0 100.4 97.5 98.4 02.8 102.2 00.8 100.9 103.4 105.3 107.4 00 ne 1A WA. nD 103 RELATIVE AVERAGE MoNTHLY PricE 1F HeLp 100 95 93 RQ J RELATIVE AVERAGE Mo~NTHLY YECEIPTS FOR TEN YEAR PERIOD 00 132 28 16 al ig 65 - - 45 76 5% =~) In the preceding table it is seen that the maximum selling orice of wheat is reached in July, when it is relatively three points higher than in the preceding August, or $1.074 as compared with $1.045, a difference of 2.9 cents; that is, if it had cost the farmer nothing to carry his wheat and if he had sold it at the high point, he would have gained 2.9 cents per bushel; but since carrying charges up to July first were twelve cents per bushel,

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