Word: cwt
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...demanding a rollback. They would certainly protest more loudly if prices jumped again-as prices certainly would if the government lifted the embargo on beef shipments to the U.S. Yet cattlemen in Calgary, selling choice steers for record prices as high as $23.70 a cwt., griped because the embargo was still...
Allowing $4 a cwt. for shipping, shrinkage and 1 ½? lb. duty, Canadian cattlemen could still have made about $8 more by selling south of the border last week. Growers argued that it wasn't the dollars so much as "a solid U.S. market" for the future that they wanted. The best bet was that the government would give it to them in midsummer. Then, packers predicted, sirloin would go to $1.10 a lb. in Ottawa-or to whatever outrageous figure U.S. buyers are paying at the time...
...that corn would be at least 200,000,000 bu. too short-and too expensive-to maintain meat production at present levels. On the other hand, the American Meat Institute saw "no drastic effect on meat supplies or prices." Nevertheless, top grade beef in Chicago rose to $30.50 a cwt., highest since last January. Not till all the crops were in would the consumer know how things would be with his pocket book...
Paradoxically, commodity prices, which had temporarily leveled off in January, were on the rise again. (Hogs reached this week the alltime high of $29 per cwt.) But the rise was viewed by economic crystal gazers as a last fling before prices settled down, as a result of temporary factors (bad weather and large Government grain purchases for export) rather than any new inflationary steam. At "the speed with which industry was spouting out goods last week, the time when supply would meet demand in most things-and when prices would settle down for good-did not seem...
...Pork Chop. Early in the war, when Government agencies asked the farmers to raise more hogs, they were promised a reasonable profit. To make sure they got it, OPA clamped a ceiling on the price of corn (averaging $1.07) and WFA put a floor price of $13.75 cwt. under the hog market...