Farm exports
WASHINGTON, D.C. -
U.S. agricultural exports in
fiscal year 1979 are expected
to rise about six per cent
from last year’s record total
of $27.3 billion to about $29
billion, according to the U.S.
Department of Agriculture.
The forecast was released
by Thomas R. Saylor,
associate administrator of
the Foreign Agricultural
Service, in remarks
prepared for delivery here
recently at the Department’s
annual Food and
Agricultural Outlook Con
ference.
Conference attended
BROWNSTOWN - Robert
(N. Zook, Agricultural Officer
of The Brownstown National
Bank and President of its
subsidiary, Brownstown
Agri Loan Corp., attended
the National Agricultural
Bankers Conference, “Tune
In The Future” held in
Nashville, Tennessee, on
November 12 to 15.
PUBLIC SALE
OF VALUABLE REAL ESTATE
SATURDAY, DECEMBER 9
2 P.M.
Located along Rt. 625 on the southern edge of
the village of Bowmansville across road from
Pine Grove Mennonite Church in Brecknock
Twp., Lancaster Co., Pa.
2Vi STORY FRAME DWELLING
7 rooms including 4 bedrooms, also 1% baths, built in
kitchen including built in oven and cook top. Situated
on Vz acre lot along with small bam with stable room
for several horses. Also shop overhead and 1 car
garage. Lot includes nice size garden, also good supply
of well water.
Inspection of property by appointment only by
calling 215-445-4457.
Terms by
JOSEPH H. HORNING &
MABEL Z. HORNING
Auctioneers
Leßoy S. Horst
Paul W. Horst
SPECIAL HEIFER
SALE
FRIDAY, DECEMBER 8
11:30 A.M.
Sale to be held at Jack Wood's Farm, located
on Taylor Valley Rd., NY, off Rt. 26, Watch for
Auction Arrows.
108 - HI-GRADE &
REGISTERED CATTLE -108
Group of Ist & 2nd calf Holstein heifers, all from one
farmer m Chenago Co. with about V 2 fresh by sale tune
and balance bagging close.
A top selection of Ist & 2nd calf Holstein heifers from
the State of Maine, including some fresh heifers and
other baggmg close that may be fresh by sale time.
Another selection of Ist & 2nd calf heifers including
such registered animals as: Royalane Reflection
Shamrock daughter, Robbie daughter, Willow-Farms
Rockman Ivanhoe daughter due Jan. 2,1979 to Ames,
plus other top registered cattle.
Another group of 24 artificially sired Chenage Co.
heifers, all from A-l sires, ranging in age from 1 mo. to
yearlings.
Managers Note: This is a top selection of good Hi
grade & registered cattle that will all be blood tested,
eligible for immediate interstate shipment as well as
having shipping fever shots and pregnancy
examinations where necessary. Inspection welcome
anytime. Come & look these cattle over, you’ll like
what you see.
Terms: Cahs or good checks.
Lunch Available
JACK WOOD’S LIVESTOCK
& AUCTION SERVICE
Sales Managers
Cincinnatus, NY 13040
607-863-4141
Saylor said export volume
may change little from the
record 122 millioiL-tons of
fiscal 1978, but that higher
average prices for major
export commodities were
expected to push export
value to the new high.
He said agricultural im
ports are forecast at $14.1
billion, which would produce
an agricultural trade surplus
of $14.9 billion, about $1.5
billion more than in fiscal
1978.
Foreign demand is strong,
particularly for soybeans
and protein meal, Saylor
The future m banking and
agriculture as well as topics
relative to agricultural
financing were among the
topics discussed.
The outlook for the general
economy and agricultural
commodities were also
discussed.
face competition and controls
said, noting that the United
States will be the only major
supplier of these com
modities until the Brazilian
soybean harvest next spring.
He said export volume
increases were likely for
soybeans, tobacco and some
other crops, but that large
increases in grain produc
Farm credit needs careful management
NEWARK, De. - Modem
farming with its large
capital requirements means
that almost all farmers
borrow some money to
finance their farm business.
Commercial credit is one of
the more widely used ways
of financing inputs in far
ming.
The interest rate you pay
on this form of financing is
influenced by many factors,
points out University of
Delaware Extension Farm
Management Specialist Dr.
Don Tilmon. Two of the more
important of these are: (1)
the amount of money you
already owe, and (2) the
current prime interest rate
(the rate a bank charges its
best corporate borrowers).
Recent changes in the
prime bank loan rate have
put this m the neighborhood
of 10 per cent. Although
interest rates on short-term
farm loans tend to be more
stable, they are still likely to
reflect shifts in the prime
rate. And such changes
affect farm income. For
example, a $lOOO loan repaid
rHSePBOPucmn
♦ ♦
{ Get Top Price for J
♦ Your Hogs at +
♦ New Holland ♦
♦ t
Sold in sorted lots the auction way. See them
weighed and sold and pick up your check.
SALE EVERY MONDAY ■ 8:00 A.M.
NEW HOLLAND SALES STABLES. INC.
Phone 717-354-4341
4 Daily Market Report-Phone7l7-354-7288 4
♦ Abe Diffenbach, Manager ?
HAT &
GAVEL
AUCTION CO.
(717) 626- 0254
Rte. 501 One Mile North of Lititz, Pennsylvania.
PUBLIC AUCTION
to be held at our Auction Gallery
THURSDAY EVENING, DECEMBER 7,1978
5:30 P.M.
FURNITURE, COLLECTIBLES
Decorated gold and green leaf wheat pattern,
ironstone; jugs; iron train; H.O. gauge tram; recliner;
Waterfall bedroom suit; large oak bookcase; 4-burner
electric stove; modem bedroom suit; plus lots more!
For More Information Write or Phone:
Wilbur Hosier, Auctioneer (717) 626-0254
Harold K. Galebach, Partner
RD 2, Newport Rd., Lititz, Pa. 17543.
Receiving Hours: Monday, Noon to 9 P.M.
Wednesday, 9 A.M. to 5 P.M.; Tuesday, Pickup Day.
Positively No More Garage Sale Leftovers
Will Be Received.
tion m much of the world
could push U.S. grain export
levels slightly below those of
last year
He said the U.S. export
outcome, which could range
from $26 billion to $32 billion,
will depend to a large extent
on what hannens to Southern
in 36 equal monthly
payments at an annual in
terest rate of 9.5 per cent
costs $33.37 more than that
same loan a year or two ago
at 7.5 per cent interest.
The difference may not
change your decision on
whether or not to borrow,
notes Tilmon, but careful
consideration should be
given to the effects of this
added cost on cash flow and
your overall income
position.
' As the debt load on your
farm goes up, the ability to
service that debt goes down.
For this reason, it is wise to
devote more time to
financial management as
you increase your
borrowing. A good way to
estimate your debt
repayment ability relative to
net farm income is to make a
cash flow analysis of your
farming operation.
Before taking out a loan,
give careful consideration to
alternative sources of credit.
Farm credit lenders aren’t
all the same, so it pays to
shop around until you find
Lancaster Fanning, Saturday, December 2,1978
Hemisphere crops of wheat,
coarse grains and soybeans
between now and next
Spring. Favorable harvests
could produce increased
competition for world
markets beginning around
the first of the year.
He cited world economic
one that meets your needs.
Although interest payments
are a major factor, there are
other points to consider as
well, reminds the economist.
Does your lender un
derstand agriculture? Does
he understand the nature of
cash flow associated with
your farm enterprise? Does
he recognize that farming
has its “ups” and “downs”
from year to year 7
Recognizing this, will your
lender agree to be flexible
and make available some
reserve so that a “down”
period doesn’t threaten the
existence of your business?
Does your leader un
derstand your goals? Is he
convement so that you can
readily communicate when
the need arises’
Though it may be ad-
Goat breeders to meet Dec. 7
NEWARK, Del. - The
initial meeting of the
Delaware Dairy Goat
Breeders’ Association will
take place on Thursday,
December 7, at 7 p.m. at the
Delaware Department of
Agriculture.
The meeting is open to the
public. Those present will
have the opportunity to
NOTICE
NEXT MACHINERY SALE
WEDNESDAY, JANUARY 3,
POSITIVELY NO MACHINERY SALE
IN DECEMBER
HAY, STRAW &
CORN SALE
Every Wednesday in December
At 12:00 Noon
" DAVID H. GOOD
Good’s Auction
MINI ACRES
IST PUREBRED YORKSHIRE
PRODUCTION SALE
SATURDAY, DECEMBER 16
At 1:00 P.M.
AT LEBANON FAIR GROUNDS
CORNWALL & EVERGREEN RDS., IV2 miles
South of LEBANON, PA.
SELLING
60-HEAD -60
BRED GILTS —OPEN GILTS SERVICE BOARS
Good bloodlines being offered.
Attending this sale will be worth your while.
FREE LUNCH
AUCTIONEER:
Our dear friend RALPH W. ZETTLEMOYER
AYC FIELD MAN:
Our INDIANA GOOD GUY - DAVE WALTERS
RINGMEN:
HENRY GRUBER (Y'all know Henry)
RUSSEL HENRY (Y’all know Russ)
Mail For Catalog To;
EDWARD H. OSWALD
R.D. #2, Box 396
Slatington, Pa. 18080
Tele. (215) 767-4789
Sale Barn (717) 274-9953
developments, trends in the
value of the dollar, and
domestic and trade policy
decisions made in
agriculture by U.S. and
foreign governments as
other factors that will bear
on the level of U.S.
agricultural exports.
vantageous to use more than
one lender (one for short
term and one for long-term
credit), don’t use too many.
A lender must account for
•his risk, too, and may feel
less obligated to work with
you if you have too many
other lenders.
With harvest nearly over,
this is an excellent time to
analyze your credit
situation. If you are using
large amounts of borrowed
operating capital you may
benefit by putting an in
creased emphasis on
fmancial record keeping,
cash flow analysis, and other
techniques for managing
your farm fmances This is
the only way you can be sure
the money you borrow is
returning you more than it’s
costing.
propose by-laws, nominate
and elect officers, and set
future meeting dates, sites,
and programs for the new
organization.
The Delaware Dairy Goat
Breeders’ Association will
receive educational support
from the Delaware
Cooperative Extension
Service.
133