Word: ib
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Dates: during 1970-1979
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...have replaced the old-style support prices, under which the Government actually bought up the commodities and stockpiled them. The new target price would be increased as follows: on wheat from $2.05 per bu. to $3.10; on corn from $1.38 per bu. to $2.25; on cotton from 38? per Ib...
...increase in milk supports would raise consumer prices by 6? per gal. on milk and 15? per Ib. on butter, the Department of Agriculture estimates. The rise in target prices on cotton would immediately start Government payments flowing to farmers because the new target price would be above the present market level of about 40? per Ib. The rise could also cause some farmers who had been diverting land from cotton to soybeans to switch back again, thereby shrinking soybean supplies and possibly raising prices of the beans and also of cattle and hogs that are fed on them...
...beneath the jargon and gossip, a serious as well as topical undercurrent can be felt. Should animals be killed to feed humans? In the long run, is the consumption of 10 Ibs. of grain to produce 1 Ib. of beef an equitable or sensible ratio? Is the meatless meal a fashion, an ideal or a specter? These were once the narrow concerns of Victorian freethinkers like George Bernard Shaw or of pop nutritionists like Adelle Davis. But suddenly, in many societies, the question of a high-protein vegetable diet has be come literally a matter of life and death...
...agreed to continue an effort begun last September to try to boost prices by holding 20% of their production off the market. The producers have been stung in the past six months by a 25% drop in world wholesale prices for green coffee, to a barely profitable 520 per Ib. (Retail prices in the U.S. have held at around $1.25 per Ib. because of increases in packaging and distribution costs.) Chief proponents of the partial embargo are Mexico and the Central American countries, whose coffee income has been hit by declining demand and steep rises in the cost of petroleum...
...work off frustrations by taking a sledgehammer to an old Mercury emblazoned with the words INFLATION, RECESSION, GLOOM, DOOM. In Mount Vernon, Ohio, Lincoln-Mercury Dealer Jack Ostrander has started accepting cattle from local farmers as part of a trade-in deal on new cars. Ostrander pays 65? per Ib. for steers or heifers, which he ships to his farm for resale later...