Word: beef
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Dates: during 1950-1959
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CONTROLS Needed: A Free Market When the U.S. Army tried to buy 13 million Ibs. of beef last week, all major U.S. packers refused the business. Only two small companies submitted bids-for a mere 190,000 Ibs. With soldiers' meat rations running low, the Army announced that it would try to find the beef overseas...
Many a Fair Dealer jumped to the conclusion that the meat industry was putting profits before patriotism. But in Chicago, the A.F.L. Meat Cutters' union put the blame squarely on price controls. The union made it clear that the packers could not sell the beef because they could not buy it on the hoof without losing money. "It is better to scrap all meat controls," warned the union, "than to precipitate a meat shortage, black markets and industry unemployment...
Steaks on the Hoof. The paradox is that the U.S. is short of meat when it has more beef on the hoof than ever before in its history. By year's end, there will be an estimated 90 million cattle on the ranges v. 1945's alltime peak of 85,573,000. Yet, because of OPS snarls, 10% fewer cattle are now being slaughtered than last year. And despite record meat prices, packers, who traditionally make only 1? on every $1 of sales, can hardly break even (Armour lost $1,600,000 in its latest quarter...
...main trouble is that OPS has put ceilings on every form of beef except the live animals. Since there is no way to set such a ceiling (it is impossible to grade beef before slaughter), livestock prices have gone right on climbing...
...country, where the warm Chinook blowing off the Rockies keeps the rich range grasses clear of snow, is one of North America's great pasture lands. Its sleek, black Aberdeen-Angus, white-faced Herefords and square-built red Shorthorns provide more than a quarter of Canada's beef supply; steaks from Alberta steers are eaten as far away as Karachi, capital of Pakistan, half the circuit around the globe...