AGRICULTURE: Galloping Prices

At the Chicago stockyards last week Iowa Cattle Feeder Joe Dingman sold a twelve-ton load of 20 prime-fed Aberdeen Angus steers for $9,492.60. The price was a near-record 39¢ per lb., highest since 1952 and far more than the 27¢ per lb. that prime beef brought a year ago. Other beef prices climbed as much as 1½¢ per lb. last week, and the average-grade steer brought about 28¢ v. 21.7 the same week in 1957. This was good news for beef raisers, glum news for beefeaters. Each 1½ boost will bring almost a 2¢ rise in the price of...

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