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Newspaper
Muscatine Journal
Location
Muscatine, Iowa, United States of America
Date
Aug 08, 1972
Page
8
Washington AP reports that despite higher cattle and hog prices this year, rising production costs squeeze farmers budgets. USDA data show a farmer paid 6.43 for overalls, 19 300 for a combine, and wheat worth 1.32 per bushel, with costs up and net farm income expected to rise about 2 billion dollars from last year.
Officials reported the July price index up 15 percent from June with beef cattle at a new high and hogs tied for the peak. Net farm income is forecast at a record 18 billion dollars this year, about 500 million higher than earlier estimates, driven by higher livestock prices and meat payments to farmers.
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