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in the same way as the shortage of meat, a high-protein food 

 for man. In fact, it developed more rapidly. The high-protein 

 feeds represent only about 3 per cent of the livestock ration, 

 while they represent about 25 per cent of the human diet. 

 Since the high-protein feeds are so small a part of the live- 

 stock ration, supplies were quickly exhausted under the 

 stimulation of low ceiling prices. 



In the spring of 1942 OP A convinced itself and others that 

 the prices of meat scrap and other protein feeds were too high 

 and something drastic had to be done. It had been profitable 

 to use high-protein feeds even at the pre-ceiling prices and 

 OPA's action merely stimulated their consumption. Since 

 the nation wanted more livestock products, as indicated by 

 price and by government requests, why should not the farm- 

 ers feed more high-protein feeds? The feeds continued to be 

 cheap and it was both profitable and patriotic to increase 

 production of livestock products. Furthermore, the hog, the 

 dairy cow, and the hen never did have a high standard of 

 living. 



Since the prices of high-protein feeds are so small a part 

 of the nation's price structure, OPA's action had little effect 

 on the inflation problem. The action served primarily to raise 

 the standard of living of the livestock for a short period of 

 time, at the risk of drastic reduction later. With the stimulus 

 of low ceiling prices, the feed hoppers were almost empty by 

 the fall of 1942. It was not until August 1943 that the ceilings 

 were raised. 



With High Prices for Livestock, Protein Feeds Should Have 



Been High 



The high-protein-feed situation depends in part on the 

 incomes of livestock-producers, which in turn are dependent 

 upon the numbers of animals and their prices. 



Normally when the supply of livestock products is high, 



