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Show 9' Cattlem en Favor Quotas On Imports W. Lloyd Johnson, president of the Utah Cattlemens Association, has announced that the Utah association has joined other state producer and feeder organizations in asking President Nixon and Secretary of Agriculture Earl Butz to impose quotas on foreign beef imports as outlined in the Meat Import Act of 1964. FHA Has New Program For Rural Home Loans The Farmers Home Administration (FHA) of the U.S. of Agriculture (USDA) has initiated a program to further encourage the use of existing housing and provide better homes for rural families through low interest home improvement loans. The agency can now provide interest credits to reduce the effective interest rate on loans made to rehabilitate Department low-inco- me or repair a dwelling that a borrower already owns, and either lives in or will live in once it is brought up to standard. of up to $7,000 will for repairs that will and modernize subdwellings, so as to provide adequate homes in ru- ral areas. Terms for repay- ment of the loan may be as long as 25 years. To be eligible for a FmHA but less than $5,000 the interest rate will be 2 percent. If the adjusted family income is between $5,000 and $7,000, interest will be 3 percent. home improvement loan with interest credit, the housing $3,000 must be located in rural counnot tryside or a rural town of The more than 10,000 people. loans are designed especially families. for this program, interUnder can reduce the est credits low-inco- co w 3 me The policy of making interest credit and repair and rehabilitation loans is another method of utilizing the ex- effective interest rate paid by the borrower to 1 per cent if the adjusted family income is less than $3,000. If the adjusted family income is more than isting supply of housing to improve living conditions for people. low-inco- me 3 1 o o u Q K Citing the closing of the export market in Japan, the EurCommon Market, opean Canada and other countries, as a protection for the cattle raisers in these countries, Mr. Johnson explained the United States has now become the dumping ground of the world for beef, with Ireland leading the import percentage with a 900 increase over OJ cre 3 re () Q 1973. Domestic beef supplies have increased tremendously in recent months, and, coupled with foreign imports, have created a surplus of beef that has seen the fed beef market drop from a $47.00 per hundred-weigto less than $40.00 year ago per hundredweight this past week. Using a figure of over $50.00 per hundredweight as a breakeven point, Mr. Johnson called attentio n to the hundreds of cattle feeders and producers in the United States that are in severe financial difficulty. With the cost of feed, seed, ht fertilizer, interest and rates up from 25 to and the price wage 59, received for fat beef down 25, and feed er cattle down a total of 43, he reiterated the industry is in the most serious trouble it has evidenced since the depression days of the 30s. This increase in prices will probably contribute to a finlf ancial debacle in the producer business equal to 50 70 of the average income of the producers for the year 1974. Even though some consumers may consider this to be a means to lower prices, I can say in all earnestmess this will eventually lead to higher prices in the supermarket, and this we do not want to see. Mr. Johnson stated. We have always tried to raise choice beef for the consumer at a price they can afford to pay, with a fair profit for the producer, but now we cannot maintain decent production at these depressed prices. There are 10 less cattle on feed now than a year ago, and with the severe drought situation we are faced with at the present time it appears there will be more herds liquidated. We are in severe trouble," he cow-ca- concluded. 4$ With BANKAMR1QiRd Long skirts. Short skirts. Middle skirts. Maybe even hot pants. Complicated? Sure, but isnt it fun? Especially when, no matter how you cover your legs, you can cover the bill with First Security BankAmericard. BankAmericard is the buffer. Together $ youre welcome almost anywhere in town. To buy whatever you need. And maybe even a few things you dont really need. back-to-scho- For the Best... Breakfast ol is a special time. And BankAmericard is a special card. Jy Back-to-scho- ol Lunch Dinner Elk Ridge Restaurant Phil Acton, Prop. Ipi-te-M- kS BANKAr '.fflCARD. THINK OF IT AS MONEY A FIRST SECURITY BANKAMERICARD, f rt L Blanding, Utah - |
