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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Aug 01, 1974
Page
4
Washington reports a 6 percent rise in average farm prices for July 15, lifted by drought reducing crop prospects and pushing corn and soybean prices higher. Beef and hog markets rebound from mid-year lows while officials warn retail food costs may follow with August adjustments.
Agriculture Secretary Butz, in a prepared address at College Park, Md., mocked calls to lower U.S. living standards to save grain for the hungry abroad. He said he was not seriously urging killing pets and questioned the link between reducing meat and solving global hunger.
Rain on Wednesday offered little relief as Texas Panhandle and other farm regions suffer ongoing drought. Experts say rainfall must exceed normal levels to reverse damage worth over 3 billion dollars. In states from South Dakota to Ohio, crops face severe losses with limited moisture and persistent heat. Officials warn yields may be very small, with corn and soybean losses mounting.
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