—Lancaster Farrminig, Salfcurdiay, Jaimit 20 Food Cost Increases May Total Another 2-3 Percent in 1968 According to the 1988 outlook issue of USDA’s The Marketing and Transportation Situation, “An increase of two to three percent in the retail cost of the market basket of farm-originat ed foods is in prospect for 1968 Much of the increase, will come from higher prices for meats, chickens, eggs, and fruits. Re turns to farmers from the prod ucts in the market basket are expected to be slightly higher in 1968 than in 1967. “The spread between the re tail cos ard farm value of the market ba.ket foods probably will average two to three per cent wider in 1968 than in 1967. Spreads are likely to increase fo • most products in the mar ket basket “Costs of performing market ing services probably will go up again next year due to rising prices of major inputs. Houriy earnings of market firm em ployees are likely to rise more than output per man-hour, causing an increase in labor costs per unit of product. Other operating costs are expected to rise. “Farmers probably will re ceive 38 cents of the dollar that consumers spend for the foods in the market basket in 1968 — the same share as in 1967.” In 1967, the report points out, “the bill for marketing domes tic farm-originated foods bought by U.S. civilian consumers in creased five percent from the previous year, according to pre liminary estimates. For the sec ond consecutive year, the in crease was significantly larger than the average yearly gain in the past 10 years. The market ing bill this year is estimated at $5B billion—up $2.7 billion from 1966. Rising unit market ing charges and expansion in \olume of products marketed accounted for the rise Receipts by farmers for these food prod ucts probably will total about $37 5 billion this year—two per cent less than in 1966 Consum er expenditures for these prod ucts are expected to total $85.5 billion —three percent higher than 1966.” In discussing the various fac tors involved in marketing •osts, the report makes these points about labor costs: “Employees in food marfcet- Agricuiturat College Enrollment Increases This year’s enrollment in the ■aition’s agricultural colleges is •even percent greater than in 1006, according 'to Dr. William E. McDaniel, dean of the Col lege of Agricultural! Sciences at the University of Delaware At the national level, McDan iel said that 1967 fall tern ei rollment for baccalaurea 1 ' a de gree programs in agncuujare is 47,723, an increase of 3,127 over the 44,596 students enrolled in 1966 Greatest increases in en rollment came in junior and senior classes, indicating that a large number of students trans ierred to agricultural colleges irom other colleges and univer sities Graduate students enrolled in agricultural courses increased about 10 percent nationally Mc- Daniel said that the total agri cultural enrollment in graduate school was 16,154 compared to 14,687 in 1966 Fields of gradu ate study showing the largest increases were animal science, agricultural economics and ag ricultural education Enrollment figures are for the 68 member institutions of the National Association of State Universities and Land Grant 13,1968 ing establishments earned an average of $2.50 per hour in Au gust this year five percent more than a year earlier. This rise exceeds the average annu al increase of four percent dur ing 1957-66. “Increases in average hourly earnings of food marketing em ployees were comparable to those in other lines of manu facturing and trade. Hourly earnings in food manufacturing establishments averaged $2 61 in August this year, about five percent higher than a year ear lier. In all manufacturing es tablishments, the average was $2.82 up four percent from August 1966. In the wholesale food trade, employees averaged $2.67 per hour in August—six percent more than a year earli er. This compares with an hour ly average of $2 88 in all whole sale trades—five percent higher than in August last year. Earn ings of employees dn retail food stores averaged $2 22 —four per cent more than in August 1966. Employees in all retail estab lishments earned an hourly av erage of $2 01 in August—six SEE HEM AT THE FARM SHOW I ALLIS-CHALMERS ONE-SEVENTY and ONE-EIGHTY (53* HP) • Best performance and com fort features of the hot One- Ninety XT, m the low profile One Seventy, full platform One Eighty! • Automatic TRACTION Booster 1 • Hydrostatic power steering! • Triple hydraulics, optional! See them now at... Roy H. Buck, Inc. Grumelli Farm Service Akron, Pa. Quarryville, Pa. L. H. Brubaker Nissley Farm Service Lititz, Pa. Washington Boro, Pa, N. G. Myers & Son L. H. Brubaker Rheems, Pa. Lancaster, Pa. Allen H. Matz Farm Equipment percent higher than a year ear lier.” “Hourly costs of the labor en gaged in marketing food prod ucts (includes fringe benefits as well as payrolls) averaged 39% higher in 1966 than in 1957-59. But a substantial im provement in output of prod ucts marketed per man-hour held the increase m labor cost per unit of product marketed to 14%.” Profits: “Profits after taxes for corporations manufacturing food and kindred products (not. including alcoholic beverages) averaged 2.2% of sales in the first half of 1967, compared with 2.5% a year earlier, ac cording to a joint report of the Federal Trade Commission and the Securities and Exchange Commission. After tax profits average about 99% of stock holders’ equity in the first half of 1967—compared with 11.0% a year earlier. “Profits, as a percentage of sales, of 16 leading food chains averaged 1.0% jn the first half of 1967, compared with 13% a year earlier. In 1966, profits for these food chains had averaged 12% of sales—the same as in 1965 They had averaged 1.2 to ALLIS-CHALMERS *Mfr s estimated PTO Up. New Holland (63* HP) 1.3% during 1957-64. Profits as oept in 1964) from 14.8% i\ «■» percentage of stockholders’ 1957 to 11.3% in 1965. They r Equity declined each year (ex- eraged 11.4% in 1966.” See The Long Green Line Of JOHN DEERE EQUIPMENT AT THE FARM SHOW Model 1020 Model 2510 Model 3020 Wenger Implement Co. A. B. C. Groff, Inc. Buck 284-4467 New Holland 354-4191 Landis Bros. Inc. M. S. Yearsley & Sons Lancaster 393-3906 West ■ 609-2990 Model 2020 Model 4020 Model 5020 Shotzberger's Elm 665-2141 in V- -Juf
Significant historical Pennsylvania newspapers