Word: butter
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Dates: during 1950-1959
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...Eisenhower Administration had to make some change in the Government's dairy industry program. With dairy products supported at 90% of parity, producers continued to churn out huge surpluses to be piled up in Government warehouses (TIME, Feb. 15). Because prices were held high by the Government, butter and other milk products were being priced off thousands of U.S. tables. A year ago, representatives of the dairy industry promised to develop a workable plan to cope with overproduction. They failed...
...million purchase of New Zealand butter...
After last month's furor about whether surplus butter should be sold to Russia (TIME, Jan. 25), official Washington realizes that bargain butter will have to be passed to U.S. housewives first. Nonetheless, the Administration is studying some plans to dispose of the surplus abroad when the foreign consumers' turn at the table comes. Under one butter-for-guns proposal, the U.S. would use butter to pay some overseas defense costs...
...would milk the U.S. Treasury to some degree. But Secretary of Agriculture Ezra Taft Benson and his staff know that they will have to choose some way of dumping the surplus within the next few months. Chief reason: despite careful refrigeration and some turnover in the stock, the stored butter will soon begin to go rancid...
...Butter is not the only surplus milk product stacked up in U.S. warehouses. Also on the shelves are 271 million lbs. of Cheddar cheese, 449 million Ibs. of dried milk. Total value of butter, cheese and milk: $358 million...