Word: beefing
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Dates: during 1970-1979
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...wheat, corn, cattle, hogs-dropped sharply last spring, record harvests are anticipated and the surge in agricultural exports that did much to boost U.S. food prices last year is now waning (TIME, July 1). Yet only a few grocery prices -for poultry, eggs, dairy goods and some cuts of beef and pork-have come down significantly. On average, retail food prices rose .9% in May, a month during which wholesale food prices dropped .6%. During the first quarter of 1974, the prices that farmers got for all the ingredients going into white bread fell 32%-but the store price...
...last month have gone from $25 to $38.57 -still below their peaks last August. In response to farm-belt complaints that prices previously had dropped so low as to threaten bankruptcies among some animal raisers and feedlot operators, the Government is buying up $100 million of "excess" beef and pork for use in its school-lunch program, and has asked Australia and New Zealand to "voluntarily" restrain meat exports...
...forecasts that were too high. George Watts, a poultry industry spokesman, told the House Agriculture Committee that unprofitable prices had forced a large broiler producer to close its Tennessee plant, destroy 800,000 fertilized eggs and smother 300,000 newborn chicks. About 1,000 Western cattlemen threatened to withhold beef from market. The tactics were reminiscent of those that farmers used to protest President Nixon's second price freeze last summer...
...move meat off the shelves and into shopping baskets. Retailers indicated that they would cooperate, and Butz tried some sales promotion of his own. In a deliberately mixed-up metaphorical exhortation to consumers, he exclaimed: "Now is a whale of a good time to stock your home freezers with beef...
...Serious? So far, so good for the consumer. But while jawboning stores to cut prices temporarily, Butz declared that retail beef prices would have to go up again in coming months to maintain a strong cattle industry-a statement that might make keepers of family food budgets wonder how serious the Government is about fighting inflation. Washington suited a number of actions to Butz's words. The Government announced that it would step up purchase of as much as $100 million worth of pork and beef and store it for use in school lunch programs. Butz himself threatened...