Agricultural relief: Agricultural relief

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Multivolume work

Identifikator:: 1831932415

Document type:: Multivolume work

Title:: Agricultural relief

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Collection:: Economics Books

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Volume

Identifikator:: 1831935066

URN:: urn:nbn:de:zbw-retromon-232142

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 7

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III S., S. 521 - 590

Digitisation:: 2022

Collection:: Economics Books

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584 AGRICULTURAL RELIEF (The tabulations submitted by Mr. Anderson are as follows?) MEMORANDUM FOR THE COMMITTEE ON AGRICULTURE, HOUSE OF REPRESEN- TATIVES, PREPARED BY SYDNEY ANDERSON, PRESIDENT MILLERS NATIONAL FEDERATION In response to the request of the committee for tables showing the relation- ship of cash prices of wheat during the first four months of the crop year to the cash price for the last eight months of the year, I submit herewith four tables. These tables cover a period of 28 years from July, 1899, to October, 1927. The figures are taken from statistical bulletin No. 12 of the Department of Agricul- ture, entitled ‘“ Wheat and rye statistics,” and brought down to date by the department. From 50 to 60 per cent of the total wheat crop moves out of the farmers’ hands in the first four months of the crop year. Table No. I compares the average price of No. 1 northern spring at Minne- apolis during the first four months of the crop year with the average price for the last eight months and indicates the differences (plus or minus) between the two periods. This table contains similar figures for No. 2 red winter at St. Louis and No. 2 hard winter at Kansas City. The figures show that the average price during the last eight months of the crop year was less than the average price for the first four months in the case of No. 1 northern spring at Minne- apolis in nine years out of the 28 indicated. The average price of No. 2 red winter at St. Louis during the last eight months of the crop year was lower than during the first four months in five years out of the 28, and the price of No. 2 hard winter at Kansas City was lower during the last eight months of the crop year than during the first four months in seven years out of the 28. Tables II, III, and IV show the deviations (plus or minus) from the average price of the first four months during each of the eight months following for No. 1 Northern Spring at Minneapolis, No. 2 Red Winter at St. Louis, and No. 2 Hard Winter at Kansas City, respectively. Table No. II shows that in the case of No. 1 Northern Spring at Minneapolis there were only eight years in which the average price during some one of the last eight months of the crop year was not below the average price for the first four months. Table No. III shows that in the case of No. 2 Red Winter at St. Louis there were 15 years in which the average price during some one of the last eight months of the year was not below the average price for the first four months. Table No. IV shows that in the case of No. 2 Hard Winter at Kansas City there were only nine years in which the average price during some one of the last eight months of .the crop year was not below the average price for the first four months. These tables do not show the maximum or minimum deviations from the four months average which may have occurred on any individual day, as of course the monthly averages tend to even out the maximum fluctuations both up and down. The figures cover the basic grades of substantially comparable wheats. They do not indicate fluctuations which may have occurred and probably did occur in other grades, and so far as I know no figures showing these fluctuations are available. The price relationships between different classes and grades of wheat are so variable that it would be extremely difficult if not impossible to arrive at any actuarial basis which might be used in the determination of losses under an insurance provision such as was provided in the McNary-Haugen bill of the last Congress. and that such insurance if available would be of very little value.

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