Meat imports opened and price controls extended in 1972 actions
President Nixon ended quotas on meat imports for the rest of 1972 and extended price controls to fresh fruits vegetables eggs and seafood following the first farmer sale. In other news Common Market finance ministers work to restore monetary stability as fears of a new crisis grow. The British pound fell after it floated while the U S dollar held steady.
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Nixon lifts price controls on raw agricultural products
President Nixon ends the price control exemption for raw farm products except at farm level to press retailers and wholesalers on profit margins and markups. Administration says the move will not instantly lower food costs. Denmark, an applicant to the Common Market, withdraws from an agreement to align its krone with member currencies but remains bound by last December's IMF accord.
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Kansas City AP Provides Updated Egg Size Classifications
The AP report from Kansas City outlines changes to egg size classifications affecting wholesale eggs. It notes adjustments for medium and large categories labeled as A and un and references the 25-34 and 19-29 ranges within the updated guidelines.
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Dow Jones Averages Weekly Trading Ranges Reported
The weekly Dow Jones closing averages show declines across major indices with the Industrials at 929.03, the Transports at 233.30, and the Utilities at 90.41. Bond averages through INDUSTRIAL and related sectors also moved lower, with varied shifts in government and industrial bonds and related yields.
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