Word: hogged
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Dates: during 1950-1959
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...meeting of the National Swine Industry Committee in Chicago, he read a lecture to the processors and distributors of meat products. Said he: "I have been extremely concerned in recent months that prices to farmers were going down while marketing margins were going up. In other words, low hog prices were not fully reflected in pork values to the consumer ... I am fully aware that total costs of processing and merchandising pork have gone up, as they have in other farm commodities. I believe firmly you're entitled to a fair return. But when one segment of the meat...
...Going to Pot." The soil-bank plan, Benson warned his fellow Republicans, is "no nostrum." He called it a constructive "move in the direction we must go with a many-sided program." Indications of the pressure on Benson were evident enough last week, when hog prices dropped to the lowest point in 14 years, and U.S. farm economists met in Washington for an annual "outlook" conference that expressed much long-range confidence but brought little news of immediate cheer. For 1956, they foresaw a continued cost-price squeeze, though not so serious a one as the 10% farm decline...
...RATE PORK SALES to help farmers dispose of the huge hog surplus are catching on in the Midwest. Aided by bankers and local merchants, farmers near Vinton Iowa put 20,000 Ibs. of pork on sale to consumers at prices 8? to 10? below wholesale levels, were sold out in minutes. Dozens of other towns in the hog belt are planning similar sales...
...August, estimates were that $2.2 billion would be needed for price support, some $1.1 billion less than fiscal 1955, but $1.1 billion higher than originally estimated last January. But with bumper crops and declining farm prices, no one thinks that even the revised estimates are high enough. Falling hog prices, for example, forced the Administration into an $85 million buying program a week...
Benson also had the tricky corn-hog ratio to consider. This ratio determines, in effect, whether a farmer can make more money by selling his corn or by feeding it to his hogs (it takes about 9 bu. of shelled corn to put 100 lbs. on a hog). When the price of corn is low in relation to that of hogs, it is more profitable to turn the corn into pork; that was the case through most of 1954, with the result that the 1954 fall pig crop was 16% bigger than in 1953, and the 1955 spring pig crop...