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commodities exceed prices received by farmers for their commodities,” Carbaugh stated. “This current economic plight is better understood when one views the sharp drop in prices of some agricultural commodities compared to a year ago. Hog prices are down 34 percent; beef cattle prices are 24 percent lower; broiler prices have dropped 21 percent; and soybeans are down about 17 percent.”
Carbaugh pointed out that, in sharp contrast to the lower farm prices, the costs of all farm production items are up considerably. Fertilizer is up 28 percent from a year ago. Agricultural chemicals have increased by 21 percent. Fuel and energy, with a 50 percent increase, is taking a big bite out of the farmer’s pocketbook. Interest costs are up 25 percent.
According to Carbaugh, the current parity ratio for Virginia farmers is the lowest
Phone Rates
Increased
Even though the local telephone company is Central Telephone, a non-Bell company, interstate long distance telephone rates went up June 6 due to the Federal Communications Commission’s approval of a 5.1 percent rate increase requested by American Telephone and Telegraph, parent company of the Bell System.
“The effect of the rate increase on individual customer bills will depend on the frequency and type of long distance telephone calls that are placed each month,” said E. Henry Harper, customer services manager. He added that local and intrastate rates are not affected by the AT&T increase.
The long distance rate increase is AT&T’s first in more than four years. AT&T’s increase will generate $568 million in new annual revenues for the entire telephone industry, which is composed of more than 1500 companies. Of the increase, $499 million will go to the Bell System. The difference reflects the payments that Bell makes to independent telephone companies, such as Centel, that are connected to the nation’s long distance network.
93.2%