Word: butter
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Dates: during 1950-1959
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...House Committee on Agriculture, Benson ticked off a long list of troubles. Since dairy supports were reduced from 90% to 75% of parity on April 1 aid Benson, he has studied a dozen ways of reducing the huge surplus. So far, nothing has looked practical. The Government's butter stocks are at 360 million Ibs., much of which must soon be moved out of the coolers to avoid spoilage...
Strawberry Flavor. Though the cut in dairy supports has increased U.S. butter consumption by 10%, it has not boosted consumption to the hoped-for level. The dairy industry will soon come out with a new strawberry-flavored milk, and there are dozens of relatively small-scale giveaway programs for schools, foreign and domestic relief. But neither strawberries nor gifts can make much of a dent in the growing surplus. As for any large-scale Government disposal program, said Benson, "we were restrained by the complexities...
Benson reported that a "coupon plan" to give away a pound of Government butter to U.S. housewives for each one they bought was rejected for its "administrative awkwardness." A "blended price plan" to sell butter to distributors at very low prices might have helped but at best it would merely slow the piling up of surpluses and cost the U.S. $100 million just to administer. Likeliest of all, said Benson, was a "plant payment plan" that would operate much like a version of the old Brannan plan. Under the plant payment plan, the Government would allow the market price...
Deal with Britain. The Commodity Credit Corp., said Benson, is negotiating with Britain to sell butter at the world market price of 47? a Ib. (v. 63? to 75? in the U.S.). If the deal goes through, it may lower the surplus by 80 million Ibs. But outside of Iron Curtain nations, which have a serious butter shortage, there are few other countries to which the U.S. can sell butter without hurting local suppliers and other butter-exporting nations...
FARM SURPLUSES, now approaching the $7 billion mark, will probably be cut under a new disposal program soon to be announced by the Administration. Idea is to set up a special office to barter food for commodities and services abroad. On surplus butter, prices to U.S. and foreign consumers would be cut 15% to 25% below current market levels, then slowly boosted as the surplus dwindles...