he lowest price in November of
any year was $6.40, while the highest price in the same month was $15.50.
No. 2 gives in the same way the average of top prices and bottom prices
during the fifteen years for green hams; and by its diagonal lines, the
extremes of fluctuation. No. 3 presents a corresponding showing of average
top and bottom prices of live hogs, with extreme fluctuations. No. 4, at
the top of the chart, gives the average receipts of live hogs in Chicago
during the several months of the year, counted in thousands.

The supply of hogs.--The correspondence between the receipts of live hogs
and the average market price in each month is worthy of study. Every
farmer can see in what months of the year the market is fullest. It is
also evident that the fluctuations in mess pork are much more extensive
than in live hogs or fresh products. This is doubtless due to the
possibility of speculation in a product which can be held for future
market. Nevertheless, it is quite evident that the prices of mess pork
have some direct connection with the supply available.

CHART NO. 12

[Chart.]

Chart XII. Prices of cattle and beef in Chicago, 1884-1897. Page 103.

_Prices of cattle and mess beef in Chicago, 1884 to 1897_

_Description._--This chart is planned to show the prices of cattle and the
prices of mess beef from month to month from September, 1884, to August,
1897, together with the supply of cattle received in Chicago in each month
and for each year. The figures right and left on the lower part, give in
dollars the prices per hundred pounds live weight, and per barrel of extra
mess beef. Above, to right and left, the figures indicate thousands of
live cattle received in Chicago.

_Explanation._--No. 1 gives the lowest price in successive months of lowest
quality of beef steers. No. 2 gives the highest price in successive months
for stock cattle. No. 3 gives the highest price in successive months for
best quality of beef steers. No. 4 shows the fluctuations in the highest
price per barrel of extra mess beef from month to month. No. 5 shows, by
length of lines in each month, the receipts of cattle in Chicago by
thousands. No. 6 gives the number of thousands of cattle received in each
year. As in previous charts, the year runs from September 1 to August of
the year following, though the relation of the beef market to the crops of
the year is not so marked as that of the pork mark