Word: sirloin
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...other prices continued to edge up, Iowa's white-haired Democratic Senator Guy Gillette and his Agriculture subcommittee decided to investigate. It called leading U.S. packers and retailers to Washington last week to find out why the price of sirloin steak in July had risen from 88? a Ib. to $1.10, then dropped to 98?, then bounded up close to $1.10 again. During all this time, the price of beef on the hoof was virtually unchanged. The explanation, as everyone expected, was simple. The packers and retailers had jacked up prices when the Korean war touched off a burst...
Some of the rises could be blamed on scare buyers. Last week, hoarding housewives still roamed the nation's stores and markets, snatching up prizes. In Boston, sirloin steak went to $2 a pound. In Washington, a psychology-minded grocer put a sign out front: "Special: 5 Pounds Sugar, 98 cents"-just twice the price at the store across the street. By closing time, clamoring customers had bought 1,000 Ibs. In Allegan, Mich., a man asked to exchange a bag of badly caked sugar, confessed he had 250 pounds more just like it that he had hoarded from...
...cheapest grade of cooking oil shot up from 17? to 38? a liter (current Manhattan price: 47? a qt.). In Buenos Aires good sirloin steak that had cost 18? a Ib. the day before sold for 28? (Manhattan price: 79?). A housewives' group called on Congressmen, persuaded anti-Perón deputies to introduce a resolution to investigate the high cost of living...
...housewives read the bad news in their store windows every day. A sirloin steak which cost 79? a pound in Denver last fall now sold for $1.15. In Atlanta, a $60 suit now cost $65. Across the nation, cigarettes were up 1?a pack...
...more by selling south of the border last week. Growers argued that it wasn't the dollars so much as "a solid U.S. market" for the future that they wanted. The best bet was that the government would give it to them in midsummer. Then, packers predicted, sirloin would go to $1.10 a lb. in Ottawa-or to whatever outrageous figure U.S. buyers are paying at the time...