Word: feedlots
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Dates: during 1970-1979
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...weeks ago to $44.57 last week, and hogs in the last month have gone from $25 to $38.57 -still below their peaks last August. In response to farm-belt complaints that prices previously had dropped so low as to threaten bankruptcies among some animal raisers and feedlot operators, the Government is buying up $100 million of "excess" beef and pork for use in its school-lunch program, and has asked Australia and New Zealand to "voluntarily" restrain meat exports...
Normally, there would be ample opportunity for all the people involved in the long food-production and marketing process to reap a reasonable profit. In the normal chain of events for beef, for example, the farmer sells his calf to a feedlot operator, who is one of the middlemen. He in turn fattens the animal and often sells it to a meatpacker for a few cents less per pound than he bought it. The feedlot operator hopes to profit by adding considerable weight to the animal in a relatively short time, but his problem lately has been that feed costs...
Chasing Animals. The so-called middlemen undoubtedly have pocketed their share too, and there are a lot of middlemen. In the case of beef, animals are sold by the rancher to a feedlot operator, who fattens stock for several months before selling it to a slaughterhouse. The carcasses are then sold to companies called breakers, which divide the meat into standard cuts and market it to stores...