Bob Dole: “Much has been reported lately about the situation facing America's farmers and ranchers. Carryover stocks for some…”

“Much has been reported lately about the situation facing America's farmers and ranchers. Carryover stocks for some grains are at their lowest levels since the 1940's--causing record high grain prices. I think, in fact, that wheat is up to about $8 a bushel. There is only one problem. In our State, nobody has very much wheat. In fact, some have none at all. The $8 price is good, but it does not really reflect that it is going to be benefiting very many producers in the State of Kansas and other States in the Midwest. Meanwhile, cattle supplies are at a 10-year high causing extremely low cattle prices. Last year, the average FED steer sold for $80 per hundredweight, while today's bids are at $55 per hundredweight. I have always argued the best farm policy is the marketplace. If farmers received a fair price for their products, they would not need any Federal dollars. This year, Congress passed a farm bill which finally took the Government out of the farming and ranching business. The Federal Agricultural Improvement Act significantly reduces the Government's role in pricing, marketing, and planting decisions of farmers and ranchers. No longer will the Government tell farmers what and how much to plant. Three days ago, the President held a meeting to discuss the situation now facing the cattle industry. Unfortunately, the Clinton administration has helped contribute to the troubles of cattle ranchers.”