Wheat Act of 1960. Hearings, Eighty-Sixth Congress, Second Session, On S. 2759, S. 3159, And S. 3336, Bills Relating to Wheat Marketing And Price Support, February 3, April 20-21, 1960

Cover Wheat Act of 1960. Hearings, Eighty-Sixth Congress, Second Session, On S. 2759, S. 3159, And S. 3336, Bills Relating to Wheat Marketing And Price Support, February 3, April 20-21, 1960

United States. Congress. Senate. Committee On Agriculture And Forestry

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Bruns. On the 10 percent for pay ?
The Chairman. Eight.
Mr. Bruns. This doesn't change the present rate?
The Chairman. Eight.
Senator Hickenlooper. I didn't follow that.
The Chairman. Eight-two and a half, the rate is $13.50 per acre.
Senator Hickenlooper. I thought it was higher.
Mr. Bruns. Item No. 4 : Why a fair price for the marketable pro- duction ? Since 1947 production costs have gone up and, at the same time, wheat prices have gone down. Therefore, if farmers are to reduce the number of... bushels marketed, they must receive a fair price in order to continue operations. Those who say that parity price for wheat would have the effect of pricing wheat out of the marketplace tend to overlook the present farm value of wheat in a 1-pound loaf of bread. At today's price, 75 percent of parity, the farm value of wheat is 2.3 cents per loaf, while at full parity the farm value is 2.9 cents per loaf. One can readily see that the price of the wheat has very little to do with the cost of the finished product.

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