Word: marketeers
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Dates: during 1970-1979
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...meat products five years ago. Beef is rising because cattlemen are not sending their animals to slaughter. During 1975, 1976 and 1977, slumping meat prices encouraged ranchers to cut the size of their herds, lest they become stuck with steers that could only be sold at a loss come market time. By this year, the nation's cattle stock had dropped to a seven-year low of 116 million head, and the scarcity began to force prices...
Ranchers are now expected once again to begin building up their herds. Yet by using cows for breeding instead of sending them to market, they will unavoidably cause the shortages to intensify and prices to rise still more. Agriculture Department officials estimate that the climb will not begin to slow down until autumn at best, and it will be the early 1980s before herds are back up to satisfactory size...
...growers say that they cannot survive in a market that is about as quiet, orderly and predictable as a sailors' bar on Saturday night. Crop failures sent world prices soaring to 65¢¢ per Ib. in 1974, and overproduction has made them plunge to about 8¢. Late last year the Administration signed the International Sugar Agreement, which would use buffer stocks and export restraints to keep prices between 15¢ and 19¢ per Ib. But the ISA deal must be ratified by the Senate; and Church, who represents a big beet-grower constituency, has kept the agreement bottled...
While the battle drags on, the only thing certain is that the consumer will pay more, and nobody in Washington is giving any thought to freeing up the market to bring down the price...
...spare $10,000 lying around. On June 1, commercial banks began offering six-month, Government-guaranteed $10,000 savings certificates with interest equal to what the Government has to pay to large investors in order to sell six-month Treasury bills. Savings banks and savings and loan associations that market the certificates can pay as much as ¼% above the Treasury bill rate. In the past year, inflation and the ballooning federal deficit have driven that rate from...