Word: hundredweight
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...decision to allow imports of boxed beef from Canada as long as it comes from cattle younger than 30 months. "The big packers are making a killing up there, buying Canadian cattle from the feeders at hardship prices, then shipping it down here at a profit of $30 a hundredweight," complains Haaland...
...figured the blues would disappear someday because kids are not much interested in it and anyway, times are not as hard as they once were. Son said his first guitar was a Gene Autry model that cost $8.50, and at the time he was being paid $1 a hundredweight to pick cotton, so he had to pick 850 lbs. of cotton to pay for it. That was hard times. And when he was digging graves, he got $15 a grave, and the worst business ever was a three week period when nobody died. "Then all of a sudden they...
...milk and cheese surpluses. In 1973 the Government purchased only 1.9% of milk products, but by 1980 its share of the market had grown to 7%. In 1981, in a feeble stab at slowing production, Congress dropped parity as an index and froze the price at $13.10 per hundredweight. Still production rose. In 1983 the Government bought 12% of all dairy products and stored away an incredible 17 billion lbs. of butter, cheese and dried milk. The cost to taxpayers had risen from $136 million in 1973 to more than $2 billion. Congress in 1983 dropped the support price...
...enormous surpluses. The USDA predicts that the unsold carryover of feed grains, mostly corn, may dwindle from 3.4 billion bu. to 2 billion bu. by the end of the year, a reduction of about 40%. Rice stocks are expected to be cut by almost half, from 68.2 million cwt. (hundredweight) to 36.3 million cwt. "Without PIK, we would have had a market glut like we've never seen," says Agricultural Economist Barry Flinchbaugh of Kansas State University. "It would have been a hell of a mess...
...wistfully recalls the good years, 1974 and 1975, when his own 160-acre farm and other acreage he leased netted him about $70,000 annually, mostly from rice. But last year, while farming 1,485 acres, he lost $60,000. The price of rice, which was $14 a hundredweight in 1981, is expected to plunge to a mere $7 or $8 this year. Sills had accumulated $300,000 in debts, on which he was paying $ 142 a day in interest. "High interest rates have killed me," he says. Now he is trying to sell his farm-and no one seems...