Word: countertrend
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Dates: during 1937-1937
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...reported a sharp drop in profits ($17,651,000 to $12,103,000) in spite of the fact that sales were $831,671,000 and tonnage at an all-time peak. Wilson & Co. showed a slight decline ($4,068,000 as against $4,109,000). Basic reason for this countertrend in a year of expanding industrial earnings was the confusion in meat markets caused by invalidation of AAA processing taxes and the subsequent drought, which forced farmers to slaughter a vast number of animals they could not feed. Although Cudahy Packing increased its profits from...