Lancaster farming. (Lancaster, Pa., etc.) 1955-current, December 29, 1973, Image 7

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lE, MM 9 East Mam Street, Lititz, PA 17543 □ 717/626-4721
A subsidiary of Farmers First National Bank
A new source of
Financial Energy for Farmers
FARMERS AgCREDIT has resources and
local know-how ... for whatever kind of
farming you are engaged in . . . and for
whatever your financial needs may be.,
Call on us. George M. Lewis, President.
At a recent regular meeting of the
Manheim Young Farmers, new officers
were elected for the coming year.
Assuming leadership roles in the group
Increase in Grain Acreage
and Production Seen for 1974
Participants in the 1974 National Agricultural Outlook
Conference heard that the
Lancaster Farming, Saturday, December 29,1973
nation’s farms will make less
money next year, but more than
in any year except 1973 which is
chalking up a record of over $25
billion in realized net farm in
.»C. Kyle Randall, chairman of
the Outlook and Situation Board
of the Department of
Agriculture’s Economic
Research Service, told the
Conference that realized net
farm income next year is
forecast at $2O to $23 billion. The
higher figure is likely if adverse
growing and harvesting con
ditions reduce crop output and
push farm prices above 1973
Barring bad weather, farm
prices of both crops and livestock
are seen averaging about the
same as this year and
marketings may edge up,
Randall said. Offsetting factors
include “minimal” direct
government payments in 1974-to
be off sharply from 1973’s $2.6
billion-and a rise in production
expenses of around five percent.
Farm real estate prices will
continue their steep ascent but at
a slower pace than in 1973 when
land prices per acre advanced by
a record 20 percent nationally.
With land and farm real estate
making up two-thirds of the
farming sector’s assets, the value
of assets on Jan. 1, 1974 will total
$441 billion-up 15 percent from a
year earlier.
Turning to production
prospects, Randall said
projections indicate sizable in
creases in acreage and
production of grains in 1974 given
adequate supplies of fuel and
fertilizer. The wheat crop would
reach 1.9 billion bushels, corn 6.4
billion, and total feed grains 228
million tons. Soybean acreage
and output may not equal 1973 but
supplies will be ample. Livestock
product output will climb, with
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are, left to right, James Kettering, vice
president; Earl Landis, public relations;
Russell Adamire, secretary; Joe Lefever,
treasurer; and Ben Nolt, president.
all the increase in beef and
poultry and little or no change in
pork. Milk production may be off
a bit.
Outlook for retail food prices
calls for a moderate increase in
average 1974 prices. Grocery
store food prices are likely to rise
again in first quarter 1974 as
meat supplies shrink and prices
of other items advance. Second
quarter prices are expected to
remain nearly constant
Widening marketing margins are
apt to offset declining farm
prices, and falling meat and
poultry prices may offset gains
for most other categories of food
Pa. State Grange
Holds Conference
Deputy state masters and
department heads of the Penn
sylvania State Grange discussed
1974 plans and programs at a
conference held Friday and
Saturday, Dec. 28 and 29.
Approximately 150 persons
attended the business sessions
held at the Nittany Lion Inn at
State College, according to A.
Wayne Readinger, state master.
Ted Amick, assistant to the
national Grange master, was the
keynote speaker Friday.
Readinger discussed legislation
and Grange policy, and depart
ment heads outlined activities
planned for 1974.
The conference, Readinger
said, emphasized “New
Horizons” for the 58,000 member
Pennsylvania State Grange in its
second century of service. The
State Grange was organized in
Reading in 1873.
Alchemists believed that
mercury and sulphur could
produce silver and gold.
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