Word: hoofing
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...beef shortage is real enough in the stores and packing houses, it is merely a form of impromptu theatrics staged by the cattlemen to get the freeze lifted. Though meat is in tight supply in many parts of the world, there is no genuine scarcity of beef on the hoof in this nation. The U.S. now has 2% more cattle on feed and 6% more breeding cows than at this time last year. Ranchers and feed-lot operators can collect alltime high prices for their animals but are holding them off the market, betting that they will be worth...
...Even old 1968 campaign buttons reading "Nixon's the One" have been sported for possible misinterpretation. In California, wags predict that a well-known ice-cream company is about to introduce a new flavor called "impeach-mint." Midwesterners say that "even John Wayne has been implicated-they found hoof-prints outside the Watergate...
Retailers will not be able to sell those meats for more than the highest prices that they had collected in the past 30 days. There will be no controls at all on the prices of animals on the hoof because the President did not want to offend farmers more than he had to and/or dry up supplies. But the hope is that, because retailers will not be able to charge more, they also will not be able to pay more-and that they will soon force prices down at the wholesale and farm levels. Later, going even further than...
Government officials took a little cheer from a recent decline in quotes for cattle on the hoof, which they say promises lower retail prices for steak and hamburger by September. But beef on the hoof could well rise again soon after that, pushing prices at the supermarket counters up further by Thanksgiving. Many ranchers who rushed their cattle to feed lots prematurely because of high prices and a drought that dried up grazing land are now rebuilding their herds. Such expansion initially reduces cattle supplies and drives up prices because heifers, which make up half of the calf crop...
Agriculture economists are somewhat baffled. They point out that on-the-hoof prices for pork, which is beginning the normal seasonal upswing in production, are easing just about on target. Yet prices for beef, which is also in a higher production period, are reacting entirely differently. The reason, apparently, is that cattlemen are convinced that demand-fueled by rising incomes, growing confidence in the economy and the food-stamp program, among other things-will increase further, driving prices above their already record levels. They are thus keeping unusually large numbers of steers in feed lots and on farms, waiting...