ABC Evening News for Friday, May 30, 1975
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(Studio) Agriculture Department reports prices of raw farm products increase 5% in month ending May 15: farm index 2% higher than year ago. Chiefly to blame for overall incr. is 14% increase in prices paid to farmers for meat animals.
REPORTER: Harry Reasoner
(Sioux City, Iowa) Beef bringing highest prices since 1973; consumers to pay more for beef products. Cattlemen no longer losing money on cattle as they have for past 18 mos. Principle of supply and demand most important to recent increase in cattle prices. [USDA Bud REECE - says feeder cattle reduced by 1/3 in last year; reduced supply causes price increase] Farmers in Laurel, Nebraska, shown; number of cattle cut in 1/2 by 1 farmer; enjoying incrd., profitable prices for cattle.
REPORTER: Ron Miller