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Iowa Farm Science: Volume 22, Issue 8
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A look at a Bureau of Labor Statistics budget reveals some of the general changes in living costs. About 50 percent of the increased cost of living since 1951 is due to higher prices - the other half because we've raised our living standards.
On the basis of current trends and developments, it appears overproduction will be with U.S. agriculture at least through 1980. The authors say farmers can meet domestic food needs and could nearly triple exports of farm commodities if necessary by 1980.
Average prices for 14 Iowa crop and livestock commodities, feed-product ratios and indexes of prices received and paid for the past 38 years are listed. Monthly figures are provided for 1966 and 1967.
The U.S. Department of Agriculture's final corn production estimate for the year was a record 4,722 million bushels - up more than 600 million bushels from the 1966 crop. The large harvest resulted from a 6 percent increase in acreage and about a 6-bushel increase in average yield nationally, compared with 1966. However, some uncertainty still exists about the actual size of the crop, as a substantial amount of corn remained to be harvested in the eastern Corn Belt at the end of December. The extent of field losses in that area is not yet known.