A22—Lancaster Farming, Saturday, April 19,1980 Argentina should gain from Russian embargo UNIVERSITY PARK - The effect of the U.S. em bargo on the Soviet Union is going to be more of a “tough inconvenience” than a “real hardshop” says Penn State economist Louis Moore. However, the real beneficiary appears to be Argentina which has been able to sell all the gram pro duced there at substantially higher than world pnces. They have increased their own balance of payments and reversed their usual position of having to sell at lower than world prices, according to Moore. For Russia it means pay ing higher prices while pur chasing considerably less than they would like. The embargoed gram amounts to 17 million tons and Moore York farmers to sponsor conference YORK The York County Farmers’ Association has announced plans to sponsor two youth to the annual Pennsylvania Farmers Association Youth Con ference, scheduled for June 24 through 27 at Elizabethtown College. Qualifications for youth who wish to be considered for sponsorship include completion of the 11th or 12th grade of high school in June, 1980 Applicants for the expense-paid conference need not be farm youth, nor must they be members of the Farmers Association Selection by a panel of judges will be based on a written application, ability to express themselves on a selected topic, attitude and appearance. Further in formation on the youth conference, and ap plications, are available from Mrs Leroy Bupp, Box 153, Seven Valleys, PA, or by calling 428-1865. Deadline for applications is May 10 KNNSYIVAHIA WC'Rf CdOWIHG UTTCB REGISTERED BELGIAN STUD SERVICE Excellent Size & quality With White Mane & Tail. (Also White face) Stud Fee w/return privilege Lancaster Co EDWIN REIFF PH 717-656-6801 calculates that the Russians will be able to make up about 10 million tons from other sources. Included in that 10 million will be a certain amount of gram “transship ped” through other coun tries, possibly through some western European countries including France. For the past few years the Soviet Union has been at tempting to mcrease its beef production and cattle herd your American Banker. Your American Bankers William Hughes Gene Richard The farmer’s financial Almanac. When it comes to providing dependable farming information, you can’t beat the people in the Agn- Business Department of American Bank They go right to work for you, giving advice and coming up with a bumper crop of good ideas that help farmers. Each has a farming background, so when they come out to see you, they speak your language Since the turn of the century, American Bank has had a special kinship with farmers and their land Over the years we’ve kept pace with their needs with loans for livestock, new equipment, construction, and remod- I=l 1 - N tENOER WitJn over 65 offices throughout Berks Chester Montgomery Lancaster Lebanon Lehigh and Schuylkill Counties size Moore feels that this is where the most impact will be felt. “The Soviets will be forced to buy some beef from foreign markets, starve or slaughter cattle they hadn’t planned to, and get some cat tle through the winter on a minimum amount of gram and then hopefully put them out on what will develop as food pastures this spring,” adds Moore. f " This will be the first tune m recent years that the Rus sians will have to purchase meat from foreign markets. The impact of the embargo on the American economy will be a lowering of the total volume of exported gram. The government is attemp ting to export the surplus to other counties but there just are not enough markets. The net impact on domestic farmers will be an elmg. As times and needs changed, we helped with lines of credit and operating capital. Today, we’re still maintaining that pace with additional financial services like trusts, retirement and estate planning, and savings and checking accounts We’re proud of the way our farming background has helped. Together, American Bankers and local farmers have been right as rain. And together, our future looks even bnghter If you’d like to see our ideas at work, just call (215)375-5993. Good bankers Good neighbors American Bank mcrease m carry-over or the amount of gram in storage. “Our carry-over last year was 1.3 billion bushels and this October it is expected to be 1.8 billion bushels, an in crease of a half a billion bushels,” Moore predicts. This will mean lower prices for farmers. Moore sees two effects on every American. First, the two to three billion dollars m lost foreign revenue will be y We predict good things will happen picked up by the federal government. “This is a double edged sword,” he add, “because not only is the government having to pay a few billion dollars, but a few billion will be lost in foreign trade in creasing the trade deficit.” For consumers this will tend to keep the price of gram related products down slightly-at least for a little while. v* n v V*M f - t*h\ • ‘ 4 O'-"* - r ” *>' s V .' ' <•“* '1 V ■ ■ < . > v* * * * V. ■■ it « fit * %\{ , * ■; *■ •.vTi * * ♦ ’ v :. >, JbU'i 'M s 7 * S ■* * 4 ,- % w *•*»?' V-nr , *• v „ V* < ' • "4 ' ill ■>»<
Significant historical Pennsylvania newspapers