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Agricultural prices

By Henry A. Wallace
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EconomicsScience - Earth/Agricultural/Farming

About This Book

A practical guide for farmers and students that explains how prices for staple farm products are formed and recorded, emphasizing the interplay of supply, demand, and cost of production. It critiques existing price-registering mechanisms, including futures trading on commodity exchanges, and shows how market information and speculation influence farm returns. The author develops a ratio method to estimate cost of production for livestock and crops and applies it to hogs, cattle, milk, and grain as illustrative cases. Mathematical tools such as index numbers, correlation coefficients, and regression are presented for analyzing trends and forecasting, with discussion of their limitations. Practical teaching advice, recommended data sources, and appended tables support hands-on study and price monitoring.

About the Author

Wallace, Henry A. portrait

Henry A. Wallace

Henry A. Wallace was an American politician, agricultural expert, and writer, known for his significant contributions to agricultural policy in the United States during the 20th century. He served as the Secretary of Agriculture under President Franklin D. Roosevelt and was a key figure in the New Deal era. Wallace's work focused on improving agricultural practices and addressing the economic challenges faced by farmers. His notable book, "Agricultural Prices," reflects his deep understanding of the agricultural economy and his commitment to enhancing the livelihoods of farmers. Wallace's legacy includes his advocacy for progressive agricultural policies and his influence on American agricultural reform.

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