Excerpt from Agricultural Economics Research, Vol. 17: July, 1965 The components of the identity for deter mining the supply of beef available for con sumption-beef stocks, beef production, and net foreign trade-are comparable with those in the pork consumption identity. The whole sale and live price relations are also similar to those of the pork sector. Feeder price in the second half of the year changes with the direction of slaughter steer prices. If slaughter steer prices are steady or rising, the slaughter-feeder price margin of the previous 6 months, the slaughter steer price, and fall range conditions can be related to changes in the feeder price. However, if slaughter steer prices decline from the previ ous year, the current slaughter-feeder price margin is the more appropriate variable in explaining feeder price changes. Presumably, cattle feeders scrutinize the existing margin more closely during times of falling cattle prices. Thus, feeder calf prices in the spring are essentially set by the fall feeder price, but are also affected by the change in numbers of cattle on feed January 1. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.