Word: hundredweight
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Dates: during 1940-1949
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...corn crop meant that a big pig crop was a certainty. Last week top hog prices dropped $1.25 per hundredweight in Chicago, to only $2 above the $18.50 level at which the Government must start supporting hogs and thus add another expense to the support program...
...Army's quartermaster office in Chicago, Uruguay's agents offered beef at $27.80 a hundredweight. Several days before the deadline, which was set for noon one day last fortnight, Army buyers assured them that it was the likeliest bid yet received. Taking no chances, Uruguayans in Montevideo phoned their Chicago agents 15 minutes before the deadline, told them to lower the offer to $27.63. That, said the Army, practically settled the deal; Washington would probably confirm it within half an hour...
...also trouble in the cattle market. As grain prices dropped, cattlemen unloaded their stock. Kansas City's stockyard bulged with the biggest shipment of grain-fed cattle in its history-and beef prices tumbled. Choice grades of beef which had brought a top price of $41.60 a hundredweight last summer were offered for as low as $25, only $6.25 above OPA levels. Hogs slumped $1 to $20.50, lowest since October 1946. But at the start of this week, both livestock and grains firmed...
...Meat. All this meant a still bigger drop in the cost of living, which was precisely what the U.S. consumer had been hollering for. Hogs slumped to within 50? of the OPA level. Cattle worth $28.50 a hundredweight a week ago dropped to $24.50. Retail meat prices came down another 2? to 4?, chain stores trimmed egg prices 6?, wholesale soap came down 6%. Whether meat would continue the fast drop was questionable. Thousands of sheep & cattle had already died in the blizzards on the rangelands, though ranchers were desperately bulldozing paths through the snow to get their animals...
...Alice-in-Wonderland economics of potatoes. It had burned potatoes, given them away for school lunches, let them rot, virtually given them away for making alcohol and flour-all at enormous cost to taxpayers and consumers. But as long as the Government supported the price of potatoes ($2.70 a hundredweight to Maine growers) farmers kept on raising more high-priced potatoes than consumers could afford...