Word: hundredweights
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That would take some doing; U.S. meat consumption, at 145 Ibs. a year per person, was close to its 1947 peak. Last week hogs hit their highest price ($21.75 a hundredweight) in five months. Lambs set a new alltime record of $34. Prime steers rose to $40. The Department of Agriculture* predicted that meat prices would go a lot higher in the next two months. The prediction was certain to boost buying for home-freeze lockers, thus help make it come true...
...fortnight ago, the cotton pit in the antiquated bourse on Alexandria's Mohammed Aly Square exploded with the news that the two pashas owned or controlled every bale of Ashmouni cotton in Egypt. Ashmouni rocketed to $80.36 a hundredweight, nearly double its price five months ago. When frantic speculators who had sold Ashmouni short tried to make delivery with other grades of cotton, the pashas appealed to the Egyptian cabinet. On their plea that "foreigners" were trying to cheat them, the cabinet passed a retroactive law banning delivery of substitute grades...
...near-record crop of 37 million pigs began moving to market this spring, the seasonal glut sent the average price of pork dropping to $16 a hundredweight. Secretary of Agriculture Charles F. Brannan warned Congress that unless it gave the Commodity Credit Corp. an extra $2 billion for the overall price-propping program, he could not support the pork market. When Congress did nothing, Brannan's economists gloomily predicted that unsupported pork might fall as low as $10 a hundredweight...
...stockpile of 1949 potatoes. It was a cozy ceremony and just crazy enough to point at one of the more fantastic aspects of the U.S. farm program. The Government man agreed to pay Art $2,336 for his 160,000 pounds of spuds at $1.46 a hundredweight. Then, without a single potato changing hands, Art wrote a check for $16. He mailed it to the Government, thus bought back his potatoes for cattle feed at 1? a hundredweight...
...administering a law it didn't like, had ordered potato acreage cut-but growers had simply moved their potato rows closer together, poured on the fertilizer and grown more spuds per acre. By pegging potato support prices high (currently at a top of $1.80 to $2.40 a hundredweight), the U.S. Government was stuck with 50 million bushels of potatoes it could neither sell without undercutting its pegged price nor give away...