Word: cwt
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...free lunch for big business. On account of that, able John Lansing Beven, president of Illinois Central, was a pioneer last week. Up the I.C. tracks east of the Mississippi one of his locomotives dragged a 40-car lot of blackstrap molasses (sugar refinery residue) for 15? a cwt., although the car load rate is 17?. I.C.C. had just granted him and other Mississippi Valley rail roaders the right to quote trainload rates on blackstrap...
...farmers a "blended price" of $2.15 per cwt. (46½ quarts) for the nine classes of milk they sell to distributors, an indicated increase of 65? a cwt. from the July blended price. Top price in this "blend" is Class I (bottled milk) at $2.60 a cwt., a rise...
...they soon found Federal control was complex and hard to understand. It also brought into the milkshed a formularized way of figuring milk prices: the "blended price." Milk was classified by the use to which it was put-from $2.25 per cwt. for Class I (bottled milk) down to 94? for Class IV-B (American Cheddar cheese), average estimated at $1.65 per cwt. To farmers who knew one gallon of milk cost about as much as another, who distrusted the reports of milk utilization turned in by dealers (although checked by the Department of Agriculture), this seemed an injustice. Many...
...State administrator to up the price of Class I milk from $2.25 to $2.82, Archie Wright took a bolder step. He announced D. F. U. was going to strike, not only against present prices, but against the whole "blended price" system. His demand: that farmers be paid $2.35 per cwt. no matter what use was made of milk. So war was declared...
...best guess for 1939: a six-year record of about 83,000,000. Three days after the estimate was announced, July lard futures fell to 5.7? per pound, a five-year low. Average hog prices in Chicago, which last month hit a five-year low ($6.02½ per cwt.) will not feel the 1939 crop until this fall when pigs farrowed this spring begin to go to slaughter. Chief beneficiaries of the booming pig population: the corn farmers, 40% of whose product will go to fatten hogs for a glutted pork market. But their returns are not likely...