Chapter II: Part I

Our Present Price-Registering System 7
The Three Price-Making Forces 11
Criticism of Our Price-Making System 15
Supply and Demand 20
Can “Price” Make “Supply and Demand”? 22
Cost of Production 26
Ratio Method of Determining Cost of Producing Hogs 30
Supply and Demand Versus Cost of Production 36
Cattle Prices and the Ratio Method 39
Packer Prices and the Ratio Method 41
Milk Price Determination 44
Cost of Producing Crops 49
Consumers’ Ratios 52
Technique of the Ratio Method 57
Limitations of the Ratio Method 60
Retail and Wholesale Prices 62
Pork Exports the Barometer of Corn Belt Prosperity 64
Corn Belt Land Values and the Cost of Producing Corn 72
Price Stability and Soil Fertility 74
Measuring Total Crop Production 75