26—Lancaster Farming, Saturday, March 10, 1973
NOT JUST BEANS... Record
soybean production, of 1,351
million bushels as of November 1,
and farm prices averaging
around $3.25 per bushel are ex
pected to raise the value of the
1972 crop to $4.4 billion, an all
time high that’s a fourth above
the 1971 crop value.
xxx
SOYBEAN DEMAND is
proving strong again in 1972-73. A
record crop plus a 72-million
bushel carryover provides a
supply of 1,423 million bushels, 12
percent above 1971-72. However,
come September 1, stocks will
once again be near last year’s
record low carryover.
xxx
CRUSHINGS for 1972-73 will
probably reach a new high of
around 765 million bushels,
compared with last season’s 721
million and the 1969-70 present
record 760 million bushels. The
soybean industry’s processing
capacity stands at an estimated
923 million bushels this year,
compared with around 900
million last season.
GOLDEN GLOBETROTTER
. . Exports of soybeans are
forecast to exceed 500 million
bushels (13.6 million metric tons)
this year and to stand somewhere
in the neighborhood of 100 million
bushels above 1971-72’s total, 416
million bushels. About 40 million
bushels of the prospective in
crease in overseas sales will be to
the USSR.
WHEAT TURNABOUT . . .
While the Nation’s supplies of
wheat for 1972- 73 are estimated at
2,425 million bushels, 2 percent
above last season’s level, the
carryover at the beginning of the
1973-74 year will probably
measure only around 483 million
bushels of U.S. wheat this
marketing year topping by a
third the old export record set in
1965-66.
DOMESTIC WHEAT USE for
1972-73, in contrast to exports, is
forecast down 9 percent from last
year’s 874 million bushels as
farmers reduce feeding. The fall
in feed use reflects high wheat
prices relative to feed grains.
Although wheat feeding was
relatively heavy through Sep
tember, during October-June it is
expected to drop sharply, while
domestic food use is expected to
continue near 1971-72’s 526
million bushels
XXX
FEED GRAIN supplies are
now forecast at 246 million tons,
up 3 percent from last year’s
total Domestic use and exports
together will probably exceed 200
million tons, up 6 percent from
last year
FEED GRAIN PRICES now
run well ahead of a year ago. In
early December for example, No.
2 yellow corn at Chicago was
quoted at $1.55 per bushel, 38c
more than a year earlier and No.
2 milo at Kansas City was $2 76
per hundredweight, 78cl above a
year ago. Exports are now more
or less the determining price
factor Further sales from
abroad could raise prices more,
while weakness in export demand,
could result in declines
XXX
EXPORTS for 197&73 have
been buoyed by large sales to
USSR, continued strong demand
from Japan and Europe,
emergence of China as a buyer,
and sharply reduced supplies for
export outside the United States.
Exports are slated to total 32
million tons, substantially more
than last year’s 27 million, the
second highest movement
abroad. In 1965-66 exports peaked
at 29 million tons.
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♦ 0> • » • * * * * V*’* ►AFfr * •***• •♦
BROILERS . . . Broiler meat
production during 1973’s first half
should gain somewhat on the 4.1
billion pounds produced a year
earlier, despite higher production
costs particularly for feed. Prices
during 1972’s second half, up
around 7 percent from a year
earlier at the wholesale level,
encouraged chick placements.
Broiler prices in coming months
likely will run above year-earlier
levels, provided production in
creases are kept at moderate
levels. Broiler prices in the first
half of 1973 will be supported by
relatively light but increasing
pork supplies, relatively high red
meat prices, and rising consumer
incomes.
, f ****■<*"*'***■•• mine ** »•»•* »
TRY A CLASSIFIED AD
PHONE 394-3047 or 626-2191
CUSTOM BUTCHERING
Hogs Processed the old fashioned way.
Sausage, pudding, scrapple. Hams and Bacon cured.
Beef cut, wrapped and frozen.
Dried beef and bologna.
WE ALSO SPECIALIZE IN U.S.DA
GRADED SIDES AND QUARTERS. '
CALL PAUL A. HESS
464-3711 or 464-3127