Word: market
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Dates: during 1970-1979
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...great failure. Led by the U.S., the importing nations as a group should refuse to admit any oil priced at a surcharge (that is, above the OPEC base price of $14.55 a bbl.). Few traders would then risk paying high prices for oil for which there is an uncertain market...
LICHTBLAU: Natural gas has a lot of potential at new, higher prices. There is a lot to be found; we have not really looked for it the same way as for oil because earlier there was no market and later prices were set so low that there was no incentive. We still have to sort out nuclear. It is likely that a number of plants now operating will have to be shut down for a period, and new reactors will be delayed...
...that caused much of today's shortages and high prices. Though cattle producers' prices were frozen, their overhead costs continued to rise. Many could not afford to feed their animals and had to sell off large numbers just to stay solvent. As more beef came onto the market, prices briefly fell. But the size of the nation's herds also plummeted from 132 million cattle in 1975 to the present 110 million -and prices rebounded with a vengeance...
Only in the past few months have they risen high enough for producers to consider seriously holding more cattle back from the market for breeding. Says Lauren Carlson, president of the National Cattlemen's Association: "We are at the critical point right now. Every cattleman is going to be making decisions in the coming weeks that will affect prices for a long time." The decision should be made easier because futures prices for cattle have jumped 50% in the past year and reached new records-a sign that prices will go higher in the months ahead. Thus it would...
...chooses to keep rather than sell his heifers, the long, three-year breeding cycle begins. A heifer born this spring cannot be bred for another 15 months. This is followed by a nine-month gestation period. Since most producers like to breed their cows twice before sending them to market, this spring's newborn calf will not be ready for slaughter until early 1982. Only then are prices likely to ease. Says Alfred Kahn, the White House inflation adviser: "While ranchers are rebuilding their herds, prices will probably stay well above 1978 levels for the next two or three...