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Cattle Prices #475980

NBC Evening News for Thursday, Mar 07, 1974
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(Studio) Cattle raisers experience big losses mainly because of high feed cost.
REPORTER: John Chancellor

(Amarillo, Texas) Cattle are liability now; prices on whsle. market less than cost of feeding cattle. Feed costs double. [Cattle feeder Moody TAYLOR - thinks losses worse now than in 23 years] Cattlemen believe other reasons exist for their losses; details given. Consumer may be faced with beef shortage by mid-summer if cattlemen forced to go out of business.
REPORTER: George Lewis

(Studio) Agriculture Secretary Earl Butz suggests supermkts. cut retail beef prices and reduce record profit margins. President of national association of food chains resents Butz's implications; predicts beef prices to drop temporarily.
REPORTER: John Chancellor

Reporter(s):
Chancellor, John;
Lewis, George
Duration:
00:02:10

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