FOOD,FINANCE,OPINION,METALS: A Bull Market

FOOD

By this week, almost everybody agreed that the beef shortage had become a scandal of indecision. But there was almost no agreement on what should be done.

Item: OPA said that a ceiling on live-cattle prices would force a more even distribution of beef away from hotels and restaurants (a quantity market), and so into small retail markets. But OPA set no ceiling. Item: the Western cattlemen loudly prophesied that the results of a ceiling on their cattle prices would be less beef for all, housewives included, and furthermore that the beef would...

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