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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 31, 1971
Page
9
Washington AP report notes the Agriculture Department will discontinue its Monthly Western Range and Livestock series after nearly 50 years. Range and pasture feed data will appear in the Crop Production Report, while livestock condition data end. The April to December annual survey program is streamlined.
The National Weather Service releases a 30 day outlook predicting temperatures and precipitation trends across the nation. Warmer periods on the horizon may contrast with cooler spells and periodic rainfall events expected in multiple regions.
DES MOINES UP I The Iowa soybean promotion board clarified key rules for financing the new program. The one half cent per bushel assessment is paid when producers receive payment from the first purchaser, with time of sale defined as payment time. Deferred contracts are exempt, and four committees were formed to implement the program.
Washington insiders say the Faun News Administration will not revise the new uniform food stamp standards despite pressure from 28 senators. The plan raises income ceilings to monthly 222 for couples and 360 for a family of four, expanding eligibility by about 1.7 million people while reducing or eliminating benefits for roughly two million recipients in higher brackets. Lyng indicated the administration will oppose a Senate measure demanding no cutbacks, noting changes would require nationwide increases and affect all recipients.
The Nixon administration plans to push farm subsidy costs to a record high in 1972 to curb surpluses and election-year discontent. If enacted, total farm program costs could exceed 4 billion dollars, up from about 3.5 billion in 1971 and a prior high of 2.8 billion in 1969.
The letter discusses buying a callable 9 percent bond at 1100, notes no guarantee of 1975 repayment, and contrasts with an anticipated $200 million wheat plan subsidy to reduce production costs. It weighs growth stocks versus fixed income amid inflation, and explains AT&T stock and warrants trading details from a stock table.
December saw corn prices rise by 11 to 17 cents per bushel, lifting farm prices about two percent. The Crop Reporting Board reported corn averaging $1.00 per bushel for the month ended Dec 15, with gains across sorghum, oats, barley and other feeds. Beef cattle averaged $29.80 per hundredweight, hogs $19.70, feeders at a record high, while farm expenses rose one percent from mid November. Parity ratio edged up to 71 percent, a year after 66 percent in December 1970.
Sioux City stockyards likely processed over 2 million hogs in 1971, surpassing the two million mark in the final trading period. Officials estimate receipts will reach about 2,001,000 head, securing the No. 1 market position for a third consecutive year, a feat achieved only six times in 33 years of USDA records.
Readers are invited to swap unneeded items for space in the paper’s bustling classifieds column. Advertisers promise prompt responses and discreet transactions, with a focus on clearing clutter and making room for new finds.
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