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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 05, 1967
Page
16
A phone based market news service in Ames offers three minute updates on slaughter livestock feeder cattle and grain futures. Dallas McGinnis and ISU staff record summaries. callers from 75 Iowa counties and even 16 U S states plus Mexico access updates daily.
The Johnson administration backs legislation to tighten and extend federal meat inspection laws covering slaughtering plants now uninspected. The bill would aid states in improving inspections while Rep. Neal Smith promotes stronger controls to curb adulterated meat practices impacting consumer confidence.
The agriculture department proposes two standby defense food orders for use in a nuclear attack. They aim to inform the food industry of emergency management procedures and relief from hardship. One order covers relief from compliance, the other creates a framework for subs orders on supply controls distribution and rationing as needed.
Washington lawmakers push a program to keep young farmers on the land with low interest long term loans. Rep. Robert Kastenmeier and Sen. Gaylord Nelson back 4 percent rate real estate and operating loans amortized over 40 years with a balloon final payment and refinancing option. The plan asks for 100 million dollars annually to support young farmers and address rising land costs. If enacted, it could curb food price increases and prevent corporate takeovers of farming.
Washington AP The government delays action on 1968 wheat planting allotments until after June 9. Officials still assess crop size and market prospects, with May normally the allotment decision month to aid farmers in planning winter wheat planting.
Washington The P S Division of USDA has adopted a policy statement defining insolvency and classifying current assets and current liabilities for the Packers and Stockyards Act. The rule emphasizes that insolvency hinges on current liabilities outweighing current assets and aligns with GAAP as set by the AICP A and the SEC.
Secretary Freeman faces pressure to lift the dairy price support from 4 to 4.16 dollars per hundredweight based on butterfat tests. The obstacle is finding a market for manufactured dairy products and avoiding excess government stocks. Demand for fluid milk remains inelastic while butter and powder prices trigger sharper reactions in baking use.
Two southwest Iowa watersheds Pierced Creek No 2 and Rocky Branch were approved for assistance under the Watershed Protection and Flood Prevention Act by the state soil conservation committee. Pierce Creek No 2 covers 8 037 acres across 50 farms in Page and Montgomery counties while Rocky Branch in Page County spans 11 300 acres in parts of 74 farms. To date 71 applications have been approved by the committee.
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