Northwest Arkansas Times from Fayetteville, Arkansas on July 5, 1974 · Page 12
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July 5, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 12

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Fayetteville, Arkansas
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Friday, July 5, 1974
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Page 12
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12 · Northwest Arkatisaj TIMES, Friday, July 5, 1974 rAYETTIVILLE, ARKANSAS Grain Harvests, World Demand For Food, Inflation Retail Beef Prices Will Depend imudeOf '//s' By LOUISE COOK Associated Press Writer Consumers plotting their shopping strategy will find lower meat prices for the next few weeks, but the bargains aren't likely to last unless the government can find a way of stopping inflation. Anyone tempted to stock up now should remember that hoarding will eventually cut supply and simply drive the price right back up again. Cattlemen recently withheld their beef from market because they weren't getting high enough prices for their livestock. They convinced the federal government to help with a $100-million purchase of beef and pork designed to give livestock producers a short-term shot in the arm and to convince consumers that meat was a good buy right now. Agriculture Secretary Earl L. Butz keeps saying that meat is a good buy. lit says Americans can't expect 55-cent-a-pound hamburger any more. With a prod from the government, the National Associatior .of Food 'Chains recently urgec its members -- retail stores -to feature beef and other meats. Advertisements indicate the price is coming down. TO ENCOURAGE BUYING Administration officials hope that lower prices will encour age consumers. to buy. Tha would bring to market the over supply of meat that is on ran ches and feedlots. ·· Once that meat has been sold, however, prices probablj will rise,again. The solution is to make it cheaper to produce the cow. That would mean the farmer could charge the packer less; the packer could charge the supermarket less; and the supermarket could charge you ess -- providing that inflation doesn't boost the cost of things ike labor, rent and electricity. In May, inflation was proced- ng at an annual rate of 13.2 per cent. At the same lime, the !overnment markelbasket -he amount it costs a hypothe- ,ical family of 3.2 persons for Jarm-produced food -- was 19 per cent higher than a year ago. Food prices were up 1.1 per cent in May, although there was a slight decline for meat. 'Even the'government doesn t :now for sure what will happen text. Administration experts and private economists agree lowever, that it's going to take some time before the up and down pattern of meat prices evens out. PSYCHOLOGICA LEFFECT The Agriculture Department purchase of meat for school lunches won't have much real effect on the market. Officials say it represents-the amount of meat produced in only two or three days. But they hope it will have a psychological effect on the-consumer; ·, . . What does all this mean? Should you go. out and 'fill the freezer full-.of beef? : . The best-advice seems to be: Buy what you need. -But don't stock up with the idea of hoarding a year's supply. That's what happened last year during the freeze on beef prices. Americans, hearing warnings of withholding by cattlemen, bought heavily and the buying created a shortage. The same thing could happen again. Lower meat prices over the long run -- and that means up to two years -- depend on lower feed prices. And lower feed prices depend on more grain. The Agriculture Department said last Monday that there will be record corn and wheat bar- vests this year, but they said the crops won't be as big as had been predicted. There were record corn and 5rain harvests last year, too. Why, then, is the price of feed grains soaring? , Exports are one reason. ' RUSSIAN WHEAT DEAL In the wake of the Russian wheat deal i n ' t h e summer of 1972, the price of grain doubled in a year. Farmers who' had sold their wheat for aboutr$1.50 deal was announced were angry. They 'felt they had been cheated. Last year and this year, they are holding on to the 'grain until they are sure they can get the highest possible price. Grain dealers in Texas, Oklahoma and Kansas say that farmers have sold only-10 to 20 per cent of the harvest so far: this year, compared to 50 or' 60 per cent in a normal year. : " On June 18, the wheat las. been 'going:up fairly, steadily since-then. :·. .;-,··, American cattlemen aren't the-only ones competing for the wheat and corn..Steadily rising demand ; around the 1 world' has meant a better mark'et'for U.S. farm exports and higher'prices at home. ' The Nixon administration wants to continue exporting farm ^products. The government sees exports as a way to freer world trade and. reduced tar- a"!'way. ·''create a favorable'atout, 400 'pounds ' o f g r a i n : a balance,,of trade .-- getting more .money for U.S. products than Americans 'spend for foreign .'goods.- , " · · ' ' '.···'·· '· ' PER CAPITA CONSUMPTION North -American-'eating habits account for the consumption of about a ton of ; grain a year per capita. One ' hundred fifty pounds of that.is eaten'as grain products; the rest 'is fe'd to cattle and indirectly consumed in meat. In the poorer countries, each person consumes year,--r'most;of it directly. As the poorer : countries ·gel richer, however, their people want better'food -- more'meat, less rice. The demand increases again. ; : L ' · , Experts who study worldwide trends in food .and population say Americans '-are simply go- ingito have to change their way of living and get used totaling less beef if'the world is to have enough food. , They noted - that Americans have doubled their beef consumption in 2 0 years; j What's ahead? A,lot-of "ifs."| If the record U.S..grain hari vests materialize, and if crops; in the rest of the world ar$ 'good,'cutting the demand foe. U.S. foodstuffs, and if we don't have another fuel crisis-and if. inflation slows down, retail prices could come down agairi around the end of the year. 5 But it adds up to keeping careful eye on the budget, look-; ing for specials and developing a taste-for casseroles. · j ' DILLARD'S · NORTHWEST · B21-T1T1 Open from 9 a.m.to 9 p.m. MALL G. E. Self-Cleaning Oven Range Or!g. $685 '300 G.E. "Super Stove" . . . conventional and microwave oven with P-7 self cleaning oven all in 30 inches. Model 5845\yA. Demonstrator; - v . . ' . - . 17.6 cu. it. Refrigerator ·%; '239 G. K. no frost refrigerator freezer. Model TBF18DR. \ · · · · ' · i Judy Widmcr, 25-year-old Chicago law clerk, stands with her bicycle outside her north-side Chicago home last Saturday. Judy tells in an interview how she was attacked and struck with a bike chain as she was riding her Inke home Irom work in Lincoln Park. She said site chased her attacker with hiood running from head wounds and was ignored by others until a man aided hnr in catching the attacker. She required 10 stitches In her neck and head. (AP Wircnhoto) 12 In. Diagonal Portable TV Orig. 89.95 G.E. 12 Inch diagonal portable TV with built in handle and antenna, Sfafe Soybean Acreage Is Down LITTLE HOCK (AP) -- Soybean acreage will be down but rice acreage will be up in Arkansas this year, a rice industry official predicted Thursday. Robert Rawlings of Stuttgart, vice president in charge of field services for Riceland Foods, es timated that 20 to 30 per cent more acreage will be planted with rice this year because ol the federal government action lifting rice allotments. Last year, Arkansas farmers planted 534,000 acres of rice Lifting the allotment allows farmers to plant all they wanl. But he forecast soybean acre age would be about 10 per cent below the 4.7 million acres planted in Arkansas last year. Soybean planting is 80 to 85 per cent complete, compared to 95 per cent complete at this Compressor Stolen J. J. Holland of Brentwood told Washington County, deputy sheriffs that an air compressor was stolen from his home after midnight Monday. The compressor was valuer at $140. TRI-IAKES ANTENNA Sales and Service New Uied Antennas Color o Black White Boosters . Towers Free Estimates 751-7927 Tf!-Sl« 751-8257 time last year, Rawlings said. When soybeans are planted :oo close to hot, dry weather, yields can be reduced. Raw- ings said young soybean plants need adequate moisture to get sufficient growth for good yields, "If we can get favorable weather the beans will grow to the same height as they would if they had been planted 30 days ago." Rawlings said. WE PAY TOP MONEY For JUNK BATTERIES Our 20th Year in Fayetteville. 442-9567 605 South School Hiway 71 South VAUGHN BATTERY Filter-Flo Washer Orlg. 239.95 25 Inch Diagonal Color Console Orlg. $659 '467 G. E. solid state console color TV in beautiful maple cabinet. Model MB9157. . G. E. deluxe heavy duty Filter Flo (R) washer with 3 cycles and 2 speeds: 23,000 BTU Air Conditioner 319 ! Orig. 359.95 G. E. 23,000 BTU air conditioner gives lots of cooling. Two peed. Model KDS123. Convenient G. E. Compactor Orlg. 239.95 139 95 Reduces trash to one fourth its original volume. A great time and space saver. Many Othan Not Liilad 3 Cycles Dishwasher Orig. ft $232 189 G.E. deluxe three cycle built in dishwasher. Three wash levels.

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