Word: glut
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Dates: during 1950-1959
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...factor in the wheat glut is a sharp drop in the export market. U.S. exports of all farm products this year are running 30% under last year. Chief reason: the tremendous shortages created by World War II have largely abated. This returns the U.S. to the familiar situation where protection for its own producers, including some farmers, keeps other nations from earning enough dollars to buy U.S. products...
...lead to more support and/or quota restrictions on production. Because of falling prices and the demands of dairy farmers, Benson continued dairy price supports at 90% of parity. As a result of the drought in the Southwest, he moved in to hold up the cattle market. To prevent a glut in cotton, he will almost certainly have to set acreage and marketing controls on the 1954 crop...
...spells financial disaster for some cattlemen, although there are many who have shored up their financial position out of the huge profits of recent years. Eventually, consumers all over the U.S. will feel the effects. Although beef prices are down at the butcher shops now because of the market glut, premature marketing and sale of foundation herds are likely to lead to serious beef shortages and high prices in the months ahead...
...could have provided last week's additional $5.5 billion in the same way, but most of the credit would have gone to big-city banks. By lowering the reserves instead, credit was also liberated in the country banks, where farmers, harried by drought in some regions and glut in others (see below), were having a hard time getting badly needed loans...
BIGGEST worry of Detroit automakers is not whether they will sell their huge new car output, 47% higher than last year; it is the used-car glut. Prices are dropping, and finance companies are refusing loans on all but the cleanest, late-model trade-ins. Dealers who refuse to take their losses in order to move used cars now will probably be stuck with full lots and larger losses later...