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BER FARM PRICE BY PREVIOUS DECADES COMPARED WITH AVERAGE OF FIVE YEARS, 1906-10. 1866 1875 1886 1896 1906 to to to to to 1875 1885 1895 1905 1910 cts. cts. cts. cts. cts. Maize, bu. 40 33 33 35 49 Wheat, bu. 103 87 64 71 87 Oats, bu. 30 27 26 27 39 Potatoes, bu. 57 48 49 53 68 Hay, ton 902 799 704 700 875 An examination of the last column shows that the average price of these staple farm products has been considerably greater during five recent years than during the previous thirty years. Will this increase in price continue, or will there be a series of years of unusually low prices which will bring the average price of the decade down to that of the previous three decades? Few persons will care to venture an answer to this question, which is of the utmost importance to all farmers and especially to the beginner. (4) The figures employed are taken from the yearbook of the United States Department of Agriculture and are the estimated farm price on December 1 of each year. Can the commodities be sold for the December farm price? Will potatoes sold at the time of digging bring less than the December price? Will wheat or maize held until May bring a higher price? To what extent, by the judicious holding of products, can advance in price be obtained? (5) Will the products be sold for cash, or may they be turned into animal products at an increased profit? In some sections of the United States animals are reared primarily because of the increased profit due to manufacturing soil products into animal products; in other regions, however, they are kept primarily for the purpose of maintaining the fertility of the soil and only incidentally on account of the increased profits. COST OF PRODUCTION For a number of reasons it is difficult to determine the cost of growing farm crops. One reason deserves to be especially emphasized. In any business enterprise it may be necessary to run at a loss, because to stop would entail a still greater loss. This is particularly true in farming, where men are employed by the month in order that they may be had when needed. Since they are receiving pay, it is better that such men should be e
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