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Some 85 to 90 percent of the corn used in this country is used for live- I stock feed. This paper provides some measures of the closeness of the relationship between present corn grades and the values to livestock feeders of lots of corn having different sets of characteristics. It is important to study this relationship because, if the relationship is not a close one, corn grades are failing to accomplish some of the objectives of grades. If the relationship is not close, present grade descriptions do not enable feeders to obtain the particular qualities they need, do not result in more meaningful price quotations to feeders, and do not separate products of low quality for feeding from those of high quality.