Word: lyng
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Dates: during 1970-1979
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Because ranchers have been reducing their herds (down from 132 million cattle to 111 million in the past four years), beef production in 1979 will decrease from 24.3 billion lbs. to 23.1 billion. That means, as President Richard Lyng of the American Meat Institute warned last week, that the price of hamburger could go up by 40? to 50? per lb. and reach as much as $1.80 by early summer...
...tail on the donkey, played by politicians, supermarketeers, farmers and consumers. Yet one thing is clear: despite a recent leveling, supermarket prices will climb further during 1972. That message came out of the Price Commission's hearings on food costs last week. As Assistant Agriculture Secretary Richard Lyng said: "Increases in retail food prices will, overall, be modest. There will, however, be sizable price swings in individual commodities...