The first community livestock auction in Iowa appears to have been established in 1904. The number in operation increased moderately from 1912 to 1929, but more rapid development followed, reaching a peak in 1936 with 195 active auctions. Although the establishment of auctions was stimulated by low prices for livestock that prevailed during the depression, and by uneven distribution of feed in\u27 the state resulting from the drouths of 1934 and 1936, 25 auctions were being operated in 1929. Indications are that during the next \u27few years the number of auctions in operation will decline
