Causes and Effects of Rising Agricultural Prices

Report Outline
Causes of Increased Prices
Political and Economic Effects
Effect Upon Legislative Demands
Special Focus

Extent of the Increase in Prices

Notable increases In the prices of many agricultural products during recent weeks, coming on the heels of three years of depression, have materially strengthened the position of the American farmer and should have important political and economic effects, if prices continue at or near their July peaks.

The extent of the increases in the prices of wheat, corn, oats and hogs in the Chicago market is shown in the following table, which gives the highs and lows on standard grades at cash sales for the calendar year 1924 to date, and the average prices prevailing during July, 1923.

Middling upland cotton reached its peak for the present year in the New York market at 35 7/10 cents a. pound on January 8 and its low at 26 8/10 cents in March. The top price during July was 35 3/10 cents a pound—within four tenths of a cent of the peak for the year. The average price during July last year was 26 2/10 cents a pound.