Word: livestock
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...Most experts predicted that the embargo's long-term effect on U.S. grain prices will be bad for the grain farmer. However, this may eventually mean somewhat lower food prices for the general public. It would also be a benefit to those U.S. farmers who buy grain for their livestock. Says Sung Won Son, senior vice-president and chief economist for Northwestern National Bank in Minneapolis: "Having the grain overhang the market will psychologically and actually depress market prices. The grain exporters and elevators are large enough to survive the crisis. The real hardship will be down on the farm...
...produce more than they consume; they contracted to buy U.S. wheat only because it is a cheaper way of supplying some western and northern Soviet cities than transporting grain from central Asia. Of far more importance to the Soviet economy is U.S. corn, all of which is fed to livestock. Of the embargoed grain for which the Soviets had signed contracts, 65% was corn. CIA studies show that without U.S. corn, the Kremlin's schedules for increasing meat output would be set back by a decade...
Even if the embargo were to prove largely successful, it is unlikely that anybody in the U.S.S.R. would go hungry. The bulk of the grain from the U.S. is corn, which is fed to livestock. The Kremlin has been striving to build up its herds after a distress slaughter prompted by bad harvests in the mid-1970s. At the moment, Soviet ports and storage areas are crammed with grain, so any embargo would not be felt for a few months. When the grain runs out, the herds would again be slaughtered to feed people. Toward...
...need to elect a President in the prime of life who has broad national and international experience," says the candidate. "I have had eight years of experience in agriculture, in keeping profit-and-loss records on livestock." He is also well educated: he is a Rhodes scholar and holds a master's degree in public administration and a law degree from Harvard...
...nephew Ulmer Beetzel, now 61, and his wife Doris, 57, have lived for 26 years on the farm his grandfather worked after the Civil War. "It's an industry now, not a life," says Doris. "It's the life of Riley," says Ulmer, correcting her. No livestock, no need for extra help, the ticker tape running constantly at the Anchor co-operative grain elevator, bringing prices from the commodity exchange up in Chicago. But only one of the Beetzel's four children is a farmer...