C3B—Lancaster Farming, Saturday, January 12,1980
1980 farm financial outlook less favorable
WASHINGTON, D.C. -
The farm financial picture
for 1900 is not expected to
measure up to 1979, ac
cording to a report soon to be
published by the Farm
Credit Administration, the
Federal regulatory agency
Vegetable conference
slated for Hershey
HERSHEY - Vegetable
Growers from across the
entire state of Pennsylvania
will gather together in
Hersfaey on January 29, 30,
31 to attend the annual
Vegetable Growers and
Small Fruit Conference.
The three day educational
program is sponsored
cooperatively by Penn State
University’s College of
Agriculture, The Penn
sylvania Vegetable Growers
Association and the Penn
sylvania Food Processors
Association.
According to Conference
Chairman Burton
Hethenngton, Berwick, this
year’s conference will
feature an outstanding trade
exhibit of the latest im
plements, varieties and
developments in the
vegetable and small fruit
industry.
Penn State Coordinator,
Donald Daum said par
ticipation in the conference
will qualify Pennsylvania
Certified Pesticide Ap
plicators to receive a
“Pesticide Applicator Up
date Training Certificate.”
The first day of the con
ference, Tuesday, January
29, will feature tomato and
squash growing problems
with emphasis on diseases,
insect control, escape weeds,
varieties and other problems
associated with the growth
of crops for processing.
A special Tomato Awards
luncheon will be held at
which time the 1979 Tomato
Harvest Festival Queen will
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for the |57 billion
cooperative Farm Credit
System.
The report, “Agriculture
and Credit Outlook, ’80,”
offers hope for the future
stating that the coming year
will likely be viewed as a
be honored along wun
tomato production award
winners in Pennsylvania.
A dinner will be held that
evening with Richard T.
Meister, editor of the
“American Vegetable
Grower” Magazine as
principal speaker.
Wednesday will feature
sessions on soil management
and include topics such as
the proper use of lime,
handling properties of bulk
blended fertilizers, tillage
methods, interpreting soil
test reports, vegetable
diseases, and a panel session
on new varieties in the
vegetable field.
Wednesday evening’s
annual Vegetable Banquet
will be highlighted by a
speech by Ivan Martin,
Lebanon, on the production
of ethanol and the role that
Public speaking
contest slated
NEWARK, Del. - The
public is cordially invited to
attend the New Castle
County 4-H Public Speaking
Contest to be held on Friday
evening, January 11. The
contest will begin at 7:30
p.m. in Agricultural Hall
located on the University of
Delaware campus. This
contest will feature 4-H’ers
from throughout the coutny
givmg a short talk or speech
on any topic of their choice.
This contest gives 4-H’ers
From Farm Credi
lean year in a senes ox
relatively good years during
the early 1980 s.
But it also notes that a
number of unpredictable
events could change the
picture.
agnculture can play in the
energy crisis.
Thursday, January 31, will
be devoted to small fruit
production which includes
various berries such as
blueberries, raspberries and
strawberries, among others.
Topics will include, disease
and weed control and new
varieties along with other
pertinent material.
Registration costs for the
conference are $5 for one
day, or $lO for the three day
program per person. The
tomato luncheon tickets are
$7.50 each and dinner tickets
for Tuesday or Wednesday
are $ll each.
More information is
available and registration
may be made by contacting
the Vegetable Growers of
Pennsylvania, Waverly
Road, Dalton, PA 18414
an opportunity to exercise
one’s ability to express
oneself. Public Speaking is
unique in that it makes use of
language without the help of
visual aides.
Judging will be done on the
basis of organization of
material, use of com
munication skills and
audience contact. The
members will compete in
three age categories. Why
not plan now to attend and do
a little judging on your own ?
Phone: 717-354-5848
Record increases in farm
sector assets, debts and
owner equity along with
faborable incomes made
1979 a better than expected
year.
Inflation, however, will be
the major reason for the less
than bright farm income
picture in 1980. Net farm
income in 1980 is expected to
drop from $32 billion
projected for 1979 to the mid
twenties.
Large farms will be more
severly affected by a large
reduction in net farm income
because they are more
highly leveraged and have
comparatively less noncash
and off-farm income than
small farms.
“Although gross income
may improve slightly,
production expenses for such
items as energy, fertilizer
and interest will climb
higher and erode farmers’
profits,” said George Irwin,
director of FCA’s Economic
Analysis Division
Reduced purchasing
power for farmers is ex
pected to affect other parts
of the farm economy.
“We expect to see farmers
barrowing less for capital
investments, which will
result in a slowing in
machinery purchases and
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SYSTEMS, INC.
Phone (717)299-1706
laid purchases and tran
sfers. Although land prices
will continue to nse, the rate
of increase will be slower,”
Irwin said.
Farm Credit System
borrowing, however, is
expected to be strong during
1980.
“High interest rates and
tight commercial bank
liquidity will mean that the
Farm Credit System’s share
of farm debt financing will
be high in 1980,” Irwin said.
During 1979, the interest
rates available from the
Federal Land Banks and
Production Credit
Associations attracted new
borrowers.
Federal Land Banks now
have an estimated 35.5
percent of outstanding farm
real estate debt. During 1979,
they financed 45 percent of
the net increase m total farm
real estate loans out
standing.
Rural housing lending also
grew rapidly with a 45
percent increase in number
of loans made and a 68
percent increase m loans
outstanding.
Following a lower than
typical year, Production
Credit Association share of
nonreal estate loans out
standing rebounded during
■ ■ mm
■ ' or more information, complete this coupon & return to.
■ THOMAS FARM SYSTEMS, INC.
■ 2025 Horseshoe Road, Lancaster, PA 17601
I NAME
I ADDRESS
J CITY
I STATE
J PHONE
1979 ending the year at 23.5
percent. PCA loans out
standing to aquatic
producers grew by 105
percent.
Federal Intermediate
Credit Bank lending to other
financial institutions also
grew rapidly increasing by
24 percent in loans out
standing and 47 percent N m
loans made.
“Potential loan demand
will be there,” Irwin com
mented.
“But the probable cost
increases coupled with
weaker farm income
prospects during 1980 will
emphasize the need for strict
application of credit stan
dards m reviewing requests
from both old and new Farm
Credit System borrowers,”
he said.
The year-to-year volatility
that became common during
the 1970 s calls for continual
monitoring by farm lenders
particularly during the
downturn expected in 1980.
Next year farm income
will be especially vulnerable
to shocks. “A weather
catastrophe in a major
production area of the world,
oil price increases, or
changes in farm, food or
energy policies could alter
our predictions,” Irwin said.
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