Reagan farm bill seeks market oriented shift in aid
The Reagan administration on Friday sent Congress a 15 year farm bill to phase out government price supports and acreage controls. It would replace current subsidies with market oriented price supports and direct payments phased out by 1988. The plan aims to save taxpayers 40 to 60 billion over five years and run through 2000 with limits on non recourse loans and deficiency payments while requiring acreage reductions from wheat, cotton, rice and other crops.
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Mixed grain and livestock quotes from Cedar Rapids area
Cedar Rapids cash grain mixed with corn soybeans and oats butchers lambs and hogs priced by market news service. No. 2 corn March 2.67 2.69 and 2.72 for April May 2.74 new crop 2.53 white corn prices steady. Soybeans March 5.79 5.81 and 5.80 for April new crop. Farmstead Foods and Mid-America Lamb quotes for 90-115 lb lambs and wool lambs. live hogs and cattle trading with varied prices and limited demand. Data from Cedar Rapids Mid-America and Iowa regions with trucklot notes and slaughter schedules.
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Friday price activity for butter eggs and livestock shows steady butter with varied egg sales to volume buyers. Hog trading ranged moderate with mixed weights 46 to 48.50 and 44 to 46 for heavier categories. cattle and boar prices listed with limited market tests.
Swift to close two Swift plants in Iowa over hog shortage
Swift Independent Corp will shut plants in Sioux City and Glenwood affecting 660 workers. Union accuses plant closings as labor blackmail while industry officials cite hog shortages and competitive pressure.
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Rath Packing seen closing two Iowa plants amid cash squeeze
Rath Packing Co chairman Robert Fulton says Swift Independent will shut Sioux City and Glenwood plants on Sept 1 due to industry overcapacity and financing problems. Rath pursues a processing only plan and may liquidate if talks fail. Also in Washington and Des Moines reports on cattle feeders and Iowa Farm Bureau urging sign up for the 1985 Feed Grain Program with a March 1 deadline.
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