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Virginia | If my memory serves me correctly, Nixon took price controls off of hogs first. Hog prices went up because hog numbers were down or at least that is how I remember it. I could be wrong. Please correct me if I am.
I do remember the cattle price somewhat better. We had fat cattle ready to go and I was holding them until the price controls were lifted. My FIL and the local livestock market manager suggested we sell because the cattle numbers were up. The cattle went to a local supermarket which was having trouble filling their needs. After the price control was lifted the cattle market took a pretty good hit. At least this is my best recollection. | |
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Market shutdown
