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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 31, 1975
Page
12
Iowa lawmakers study options after American Beef Packers bankruptcy leaves cattle producers with unpaid livestock payments. Proposals include bonding packing plants, a reinsurance system, lien waivers for packers, and requiring payment for livestock.
Representatives of packing firms banks bonding companies and the National Farmers Organization testified at the public hearing on Wednesday. They agreed bonding may help some but is not a universal solution and emphasized practical limits for farmers seeking support.
Iowa legislators push for stronger packer bonding and licensing while officials debate federal remedies. William Heubaum of Iowa Beef Processors proposes a nationwide Beef Producers Insurance Corp funded by a meat animal checkoff. Iowa Secretary Robert Lounsberry endorses broader state licensing for each packing plant and bonds or financial statements. Richard Ling of the American Meat Institute warns that federal legislation is needed amid a beef industry confidence crisis. Bankers and insurers discuss feasibility of packer payments through Iowa or Federal Reserve district banks and bonding limits.
Iowa pork will be sold in a Chicago promotion next week across Jewel stores. Bath Packing Co. will ship 250000 pounds of Iowa pork to three Jewel locations. Fourteen Iowa pork producers will travel to Chicago to engage shoppers and hand out materials, backed by the Iowa Pork Producers Association.
ISU economist Bob Wisner cites late January reports predicting steady to slightly weaker corn prices in coming months as domestic feed use drops 22 percent for Oct-Dec. A 16 to 17 percent cut is projected to balance supply, with possible slight gains if weather allows higher yields. Soybeans see record planting, prices pressured by larger acreage. a brief spring downturn expected before mid-summer stability. Tickets announced for Cedar Rapids Marion Chamber dinner featuring Sen. Dick Clark.
The National Corn Growers Association asks President Ford and federal officials to remove export monitoring and controls on U.S. corn. Walter Goeppinger of Boone says reduced livestock feeding and falling corn prices justify freer export sales to meet overseas demand and bolster the balance of payments. The group argues monitoring sometimes prevents price rises, while restoring overseas confidence. Also, Linn County soil conservation plans a speech contest on Land Use Insurance for Mankind in Marion on April 15 at 7:30 p.m.
The Iowa Holstein Association will honor four dairy leaders at its annual banquet in Clear Lake. Les Dammann of Manning Willis McAlpin of Conway Arkansas Robert McCuen of Yale receive the distinguished service award Donald Kerr of Castalia earns the outstanding young Holstein breeder award. Additional awards include the 1974 all Hawkeye winners for top type Holsteins in major shows.
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