rc cto r s-’oHmA'VACI 'OKismi'vl lAl^fTinß.! 30—Lancaster Farming, Saturday, December 8, 1973 Digested from outlook reports of the economic research service forecasts based on information available through October 1,1973 A GREAT YEAR ... Higher prices and larger crop marketings should push 1973 gross farm income to about $B4 billion, $l5 million more than last year. And though sharply higher production expenses will eat up about $6O billion of this total, net farm income will be by far the highest on record. Experts see it totaling $24 billion, a gain of over $4 billion from 1972. XXX FARM RECEIPTS totaled about $3l 3 billion by midyear, nearly $6 billion ahead of first half thanks to 30 percent higher prices and 1 percent greater marketings. Livestock and livestock product earnings had climbed to $20.7 billion, as higher prices (up 30 percent) .nullified lower sales volume (down 6 percent). Crop receipts totaled $10.6 billion, the result of 30 percent higher prices and 8 percent larger sales. XXX NO BARGAINS .. . Inputs bore a higher price tag in 1973 than the year before, with the biggest increase occuring for feedstuffs The ipdex of prices paid by farmers was up more than 20 percent from a year ago as of mid-September, with feed grams up 75 percent. However, prices of other items wages, fertilizer, motor supplies, etc. also advanced briskly. XXX LESS MILK . . 1973 may well see the first falloff in milk output in 3 years. Sharp cutbacks in cow numbers and, surprisingly, lower output per cow could make for a 3 percent drop in total output. WHEN ASKED WHAT YOU D LIKE FOR CHRISTMAS TELL THEM A + REMINGTON ' • L eight • E j handle • E 3 start Auk c trigger chain oiling. Cus ad anti-vibration rubt and grip. Exc je two year warranty. FREE $19.95 Carrying Case REMINGTON CHAM SAW AUTHORIZED REMINGTON DEALER ALLEN H. MATZ 505 E. MAIN NEW HOLLAND, PA, CULLING QUICKENS . . . . . Expensive feed coupled with high slaughter cow prices are tempting farmers to cull their dairy herds heavily. Through August slaughter cow prices were up a third from the year before . . . and milk cow num bers were off nearly 3 percent in August, the sharpest drop in about 3 years. OUTPUT PER COW just might ,drop during 1973 . .. the first annual falloff since the 1940’s . .as dairymen cut back on their use of high-priced grains and protein concentrates. During the past decade farmers managed to achieve a 3 percent annual gain m output per cow by boosting grain and concentrate feeding fron 2,500 to 4,300 pounds per animal. But unfavorable milk-feed price relationships in 1973 just haven’t been conducive to heavy feeding. GROSS GAIN .. . Higher prices have pushed up gross Feed Boosters v^f 1 Starting cattle. No matter what time of year, put them on a good feed with AUREO S 700* for 28 days. Maintain gains in the presence of shipping fever! Finishing cattle. After 28 days put cattle on a feed with AUREOMYCIN (70 mg. per head per day). AUREOMYCIN increases gains, improves feed effi ciency, helps prevent liver abscesses, bacterial diar rhea and foot rot. This season use the 700/70 program. Get back $6 to $8 for every dollar you invest. See your feed supplier! •American Cyanamid Company’s trademark for a premix of AUREOMYCIN® chlortetracycline and SULMET® sulfa methazine. Withdraw 7 days before slaughter. GEHMAN FEED MILL GRUBB SUPPLY CO Elizabethtown, Pa. 717-367-1525 Denver, Pa. 215-267-5585 FOR MORE INFORMATION CONTACT c-o Nelson Weaver’s Warehouse Lititz RD2, Pa. Phone 717-626-8538 XXX XXX anytime of the year AVAILABLE AT C. P. WENGER & SONS Ephrata, Pa. 717-733-2218 HARRY J. GRASSO dairy income despite a drop in farmers’ milk marketings. For all of 1973 gross, earnings may total around $7.8 billion, up from $7.2 billion in 1^72. Xxx BUT NET LOSS. . . However, dairymen’s gross incomes are rising less this year than their production costs, especially for feed, and net returns to dairying in total will likely decline from 1972 levels. Prices paid by far mers for production items in January-August were up about 20 percent from a year ago. xxx TURKEY TALLY ... The 1973 turkey crop is expected to total 132 million birds, 2 percent more than in 1972. Marketings through early September were running about 5 percent ahead of a year ago but output will be lower for the September-December period. xxx TURKEY PRICES Lagging output, lower cold' storage stocks, and high prices for other meats have pushed turkey prices close to the record levels of 1948-49. New York wholesale prices for 8-16 pound young hens averaged 74 cents a pound during August, up 17 cents from the month before and more than twice as high as a year earlier. Continued high prices for other meats will continue to hold fourth quarter prices above October-December 1972. XXX FARMERS’ FOOD DOLLAR SHARE .. . Feeding an urban household was estimated to have Tgl® A fl cost over $1,653 (annual rate) as of August 1973 ... or $328 more than the year before. Most of the added dollars went to farmers, boosting the farm value of a market basket of foods to $835, up 58 percent from August 1972. Farmers thus received 50c of each $1 consumers spent on food. xxx DIET DOWN... Per Capita food consumption this year ap pears likely to decline for the first time since 1965. A cutback in per capita use of livestock-related foods outweighs a small increase ■for crop foods. Meat and egg consumption will drop the most, followed by poultry. XXX ' FOOD EXPENDI TURE. .. . Despite the drop in per capita food use, higher food prices are expected to push total food spending up some 15 percent over 1972’s $125 billion. 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Quarryville KINZER EQUIP. CO, Kinzer STOLTZFUS FARM SERVICE Cochranville, Pa. CHAS. J. McCOMSEY &SONS Hickory Hill, Pa. greater than gains in disposable personal income, it’s very likely the share of income spent for food in 1973 will icrease for the first time in 15 years. Strasburg Bank Slates Dividend Strasburg, Pa. - The Board of Directors of The First National Bank of Strasburg declared a semi-annual dividend at a recent meeting. The new dividend is valued at $1.50 per share and will be payable on December 31st, 1973 to stockholders of record on December 4th, 1973. There are 410 stockholders with 50,000 shares outstanding. The First National Bank of S trasburg is celebrating its 110th anniversary this year and opened their fourth office at the Buck in September. can i N.G. HERSHEY & SON Manhe'im LANDIS BROS., INC, Lancaster LONGENECKER FARM SUPPLY Rheems A.B.C. GROFF. INC, New Holland ROY H. BUCK, INC, Ephrata, R.D.2
Significant historical Pennsylvania newspapers