GENERAL FARM PROGRAM 



155 



1. 1939-48 average purchasing power in millions of 1939-48 dollars 18,218 



2. Prices paid bv farmers including interest and taxes, basis paritv index 



for Mar. 15, 1949 (1939-48=100) ." 144 



3. Equivalent 1939-48 purchasing power at Mar. 15, 1949 prices 26, 234 



The support price standard, or prices corresponding to the income 

 support standard, would be calculated by multiplying average farm prices 

 for the 10 immediately preceding years by the ratio of the income stand- 

 ard to the a\erage level of cash receipts from farm marketings during the 

 10 immediately preceding years, as follows: 



4. Income support level (at Mar. 15, 1949, prices) 26, 234 



5. Estimated average cash receipts from farm marketings, 1940-49 20, 980 



6. Ratio of income support level to 1940-49 average cash receipts 1. 25 



At the Mar. 15, 1949, level of prices paid by farmers, the adjustment 



factor to be applied to 1940-49 average prices would be 1. 25 



Exhibit B 



Specified coinmodities: Illustration of calculation of pi- ices up port standards for 1950 

 based on parity index for Mar. 15, 1949. and estimated average prices received by 

 farmers, 1940-49 



[Work table: Illustrative calculations only; shows probable relative differences for 1950] 



Commodity (grouped ac- 

 cording to present legis- 

 lation) 



Basic commodities: 



Wheat -. 



Corn 



Cotton 



Rice 



Peanuts 



Tobacco: 



Flue-cured 



Burley 



Specified Steagall com- 

 modidities; * 



Butterfat 



Milk, wholesale 



Hogs 



Eggs_- 



Chickens 



Flaxseed 



Soybeans 



Beans, dry, edible 



Potatoes 



Other commodities: 



Cattle, beef 



Lambs 



Oats 



Barley . 



Apples 



■Wool 



Oranges 



Unit 



Bushel - 

 do- 

 Pound. 

 Bushel - 

 Pound . 



-do. 

 -do. 



do 



Hundredweight . 



do-- 



Dozen 



Pound 



Bushel 



do 



Hundredweight . 

 Bushel 



Hundredweight . 



do 



Bushel 



do 



do 



Pound 



Box 



Income 



support 



standard 



1950 1 



(1) 



Millions 

 $26, 234 

 26. 234 

 26, 234 

 26, 234 

 26,234 



26,234 

 26,234 



26. 234 

 26,234 

 26,234 

 26, 234 

 26, 234 

 26, 234 

 26, 234 

 26,234 

 26, 234 



26, 234 

 26, 234 

 26, 234 

 26, 234 

 26, 234 

 26, 234 

 26, 234 



Average 

 cash re- 

 ceipts from 



farm 



marketings 



1940-49 ■ 



(2) 



Minimis 

 $20, 980 

 20, 980 

 20, 980 

 20, 980 

 20, 980 



20, 980 

 20,980 



20, 980 

 20, 980 

 21), 980 

 20, 980 

 20, 980 

 20,980 

 20, 980 

 20,980 

 20,980 



20, 980 

 20, 980 

 20, 980 

 20,980 

 20,980 

 20, 980 

 20, 980 



Adjust- 

 ment 

 factor col- 

 umn l-=-2 



(3) 



1.25 

 1,25 

 1.25 

 1.25 

 1.25 



1.25 

 1.25 



1.25 

 1.25 

 1.25 

 1.25 

 1.25 

 1.25 

 1.25 

 1.25 

 1.25 



1.25 

 1.25 

 1.25 

 1.25 

 1.25 

 1.25 

 1.25 



Average 

 prices re- 

 ceived by 

 farmers 

 1940-49 3 



(4) 



$1. 50 

 1.17 



.2239 

 1.81 



.0756 



.394 

 .397 



.535 

 3.38 

 15.20 

 .366 

 .232 

 3.44 

 2.03 

 6.76 

 1.27 



13.50 

 14.70 

 .66 

 .975 

 2.09 

 .398 

 1.57 



Price 

 support 

 standard 

 column 



(4)X(3) 



(5) 



$1.88 

 1.46 



.2799 

 2.26 



.0945 



.492 

 .396 



.669 



4.22 



19.00 



.458 



.290 



4.30 



2.54 



8.45 



1.59 



16.90 

 18.40 

 .825 

 1.22 

 2.61 

 .498 

 1.96 



1 Estimated. 



' Cash receipts from farm marketings for 1949 estimated at $27,500,000,000. 



^ Prices for 1949 estimated basis current prices and announced or mandatory support levels for 1949. 



* Sweetpotatoes, dry field peas, American-Egyptian cotton, and turkeys are also Steagall commodities. 



