Demand and Price Situation

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Excerpt from Demand and Price Situation: February 1972Farmers can look forward to materially better incomes in 1972. Prices are benefiting from strong consumer demand for livestock products and smaller supplies of some crops. Livestock prices look strong for most of the year, with considerably less pork production but more beef, poultry, and milk. Record harvests have dampened grain prices but smaller total supplies of cotton, soybeans, vegetables, and tobacco are holding cr0p prices above a year earlier. Crop prices are likely to drift upward into the spring before dipping slightly later in the year.Cash receipts from farm marketings are expected. To be well above 1971, with higher livestock receipts accounting for most of the gain. Also, as an incentive to increase acreage set-aside and bring grain production more in line with market demand, government payments will be stepped up substantially. With these developments, gross farm. Income may run billion above 1971.Farm production expenses may not rise as much this year, as prices for both farm and nonfarm inputs are tempered. Gains in gross income will more than offset advances in expenses, lifting farmers' realized net income about $1 billion above last year's billion.The economy continues to gain momentum. Prospects for the year suggest a' healthy pickup in real growth with a slower rise in prices. The outlook indicates an increase in consumer spending, a higher level of private investment, and larger government expenditures. Accelerating sales should stimulate business inventory accumulation. In addition, slower increases in costs and the investment tax credit are likelyto encourage businessmen to expand their facilities and invest in new plant and equipment.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.