Word: glutting
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...policies led me to overproduction of some crops." Brannan had the happy experience of operating largely in the years of almost insatiable markets. World War II, European reconstruction and the Korean war brought abnormal demand. But in a few commodities, the philosophy of expanding production at guaranteed high prices glutted even the hungry postwar markets -and with some disastrous results. The classic example was the great 1948-50 potato glut; millions of bushels, bought by the Government to support prices, had to be dyed blue and kept off the market. Net loss to the U.S. through the potato program...
Even where metals were in short supply e.g., aluminum, producers made no attempt to raise prices. Their great (127%) expansion, launched since Korea, made them fearful of a glut if their prices got out of line. Though U.S. Steel and other big producers said there would be no general increase, some steel prices, such as stainless steel, went up. Mindful, however, of the public outcry stirred up by their unannounced price rise of five years ago (TIME, March 15, 1948), the steelmakers showed no signs of raising the basic price of steel ingots, a bellwether for the whole price level...
Supply & Demand. The fall in retail and wholesale meat prices under the "glut" of cattle on the market caught the headlines. Actually, retail prices were just catching up with the wholesale drop that started four months ago. In fact, meatmen thought that the glut was due chiefly to the fact that retail prices had not reflected the wholesale drop quickly enough, thus meat piled up that would have been consumed in the ordinary working of supply & demand. Normally, a 10% drop in the retail price of meat boosts consumption about the same amount. So far, retail prices have fallen only...
Chief reason for the butter glut was the big increase in sales of colored oleomargarine, now permitted in 42 states.* In prewar days, per capita consumption of oleo was only 2.9 lbs. a year compared to 16.7 lbs. of butter. Today it is 7.7 lbs. compared to 8.7 lbs. for butter. This year U.S. margarine output is expected to hit at least 1¼ billion lbs., topping butter production for the first time in the nation's history. Another reason for the surplus of butter is increased imports of dried milk (up 90% so far this year...
Finally, a pre-trial hearing on accident disputes would not only clear up the present court glut but also let a judge, instead of a chronically munificent jury, award damages...