Word: pork
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Giving a vast assist to the U.S. balance of payments (see U.S. BUSINESS), U.S. farmers last year exported to Western Europe $1.4 billion worth of everything from soybeans to turkeys, and so far this year have matched that record pace. Helped along by European shortages of beef and pork, exports of U.S. meat have gone from $51 million to $74 million in a year. Tobacco and cotton have swung upward from $236 million to $295 million. The greatest increase was in animal feeds (from $521 million to $672 million), which ironically can only serve to reduce U.S. meat sales. Even...
What Goes Up ... The steaks, roasts and other beef cuts that now constitute 50% of the average American's meat menu cost 11% more last month than they did a year ago. Pork is 16.5% higher; in many places, pork loin has risen from 590 a lb., to 790, and bacon costs as much as $1 a lb. As shoppers substituted chicken for beef and pork, poultry prices inevitably rose by 7% (current U.S. average price for fryers...
...affair is far from over. The Department of Agriculture is studying measures to tighten up the easy rules for trading in grains, oils, pork bellies and other commodities. A wide variety of companies and individuals have filed a total of 160 damage claims contending that Tino De Angelis took them for $219 million...
...Angelis was forced to quit high school to support his parents. Starting out as a meat cutter in The Bronx, he devised a method for speedily dismembering hogs by slicing them up on a moving assembly line. That helped him get a $10,000 loan to open his own pork-packing plant. While still in his 20s, he built it into the largest such operation in the Eastern U.S. and sold copious quantities of meat to the federal school-lunch program...
...delighting in one another's company, the group made plans to get together more often for such dinners. Soon after, a few more undergraduates added to their group, they began to call themselves the Pig Club. Disliking the unpleasant connotations of the name, they later changed it to the Pork Club...