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Long Beach Press Telegram in Long Beach, California

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Newspaper

Long Beach Press Telegram

Location

Long Beach, California, United States of America

Date

Nov 02, 1956

Page

7

Strong Food Supply and Prices Seen

The Agriculture Department projects ample food supplies next year though slightly below this year’s abundance. Early 1957 prices are expected to stay higher than 1956, with continued strong consumer demand. Meat per person may be lighter in late 1956 to 1957, while hog and cattle output stay constrained. Retail coffee prices likely remain high amid tight supplies and producer efforts. Yeast, lard, beans, apples and grapes may fall. eggs, chicken, turkey, fish products, citrus, juice, vegetables and potatoes may rise. Consumers should still see at least the usual dairy supplies per person through winter.

Washington Agriculture Department

Mortgage Purchases Set Record

The Federal National Mortgage Assn. FNMA bought a record 122 million dollars in government backed home mortgages in the July September quarter. President J Stenjey Baughman said activity tightens the residential mortgage market. FNMA now owns 35 762 VA and FHA backed mortgages valued at more than 360 million dollars. It purchased 11 265 mortgages backed to VA and FHA during the period, with nearly 99 million in VA guaranteed loans.

Washington Ut Federal National Mortgage Assn FNMA J. Stenjey Baughman Mort Pace Buying Agency ENMA Columbia

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