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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 '
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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. And
because the spending rise will be
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A. L. HERR&BRO.
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