• Poor crops, weak economy set world trends LITITZ A weak world economy is in prospect for the second half of 1980 and early 1981. In all major developed nations except Japan and France, real gross national product is expected to decline in the second half of 1980. For all 23 developed countries together, ex cluding the United States, economic .growth in the second half of 1980 is ex ' pected to average only around 0.5 percent. Some improvement is expected for the first half of 1981, since economic growth in the foreign developed nations as a whole is expected to in crease 1 to 2 percent. By mid-1981, inflation may 9*drop slightly from its 12- percent level in the first half of 1980, and the cumulative trade deficit of the developed countries may drop to $55 or $6O billion, compared with $lOO billion in the first half of 1980. For the developing nations, the economic situation for 1980 is also poor, with economic growth rates expected to remain below five percent for those that are net petroleum unporters. This group’s total trade deficit in 1980 is projected to jump to $42 billion, from $3l billion last /£T j AWn-RgBEZE I jj* vurnmtjlanmht m taut H I«M»I1«I< I B? carnaismux bumiimuraui 289" Reg 349 99/SAVE6O 00 . 24001 260 150,000 Space Heater Completely portable burns kerosene or #1 fueloil consumes less than 1 1 gal per hour 11% gallon tank, spark plug ignition and automatic flame out control year. Because increases in the volume and pnce of exports are expected to be only marginal, the deficit is expected to swell further by mid-1981. Average world oil price increases slowed in mid-1980 as lower consumption led to record world stock levels. Saudi Arabia’s policy of continued high production had begun to restore that country’s leverage within OPEC, when Iraqi and Iranian exports were in terrupted by war. World inventories are likely to be drawn down if the Persian Gulf remains dangerous to tanker traffic, so the current pause in energy price in creases is probably tem porary. The conflict may also affect Iranian food imports, further tightening the Iranian food situation. The 1980-81 world gram crop is estimated at 1.43 billion metric tons (in cluding milled rice), up three percent from 1979-80. Production is expected to increase in the USSR, ‘Western Europe, Eastern Europe, Latin America, and India, but decline in the Umted States and China. World utilization is forecast at 1.45 billion tons, up slightly from last year. Global gram carryout stocks 3 77 Reg 429/SAVE 10% 18284 234 1 Gal. 4S Brand! Anti-Freeze Same formulation as famous name brands Will mix with all ethylene glycol base products 239" 5 Panel Reg 289 99/SAVE 5000 _. . _ 23985260 Steel Gates 97,000 BTU 48” high gates with panels made of heavy 22 gauge • ■ • . galvanized steel Gates are 4” shorter than listed to neaier compensate for hinges and latch Complete with screw Completely portable burns hooks hinges and side hatch kerosene or #1 fuel oil consumes tank than 3A 831 h ° Ur 8 Ball ° n 17676 253 Reg 56 99 Thermostat for Space Heaters 16' 23981 260 Reg 35 99 Sale 31 99 17677-253 Reg 60 99 | CENTRAL I TRACTOR I !SFARM & FAMILY CENTER HURRY! in 1980-81 are forecast to decline to 191 million tons about 10 million lower than a year earlier. This would be the lowest level since 1976 and only 13 percent of utilization. Most of the reduction in stocks will be in the United States. Foreign stocks may be up about 10 percent in 1980-81. World wheat production is forecast to increase seven percent in 1980-81, mainly , because of recovery in the European and Soviet crops and a record U.S. crop that was up 10 percent from a year ago. Output in India and China is estimated to be down 10 and seven percent, respectively, from last year’s record harvests. World coarse grain output in 1980-81 is expected to decline for the second straight year. The an ticipated 17 percent drop in U.S. production will offset the recovery expected elsewhere. World rice production is likely to be sharply above last year’s weather-reduced crop. Global grain trade is expected to equal last year’s record 198 million metric tons. Among our major competitors, exportable supplies of coarse grains will be limited until Argentina’s harvest next March. HOG PANELS COMBINATION 34" High by 16’ Long PANELS 24691-282 _ 'V,'". 52 High by 16 Long $ 1 XL99 24693-282 s 2O". ■ W ea 10 or More _ f^t)Q i ▼ ea 10 or more 6' 30 H| i. Rating All items are subiect to stock on hand We reserve the right to limit quantities Sale ends on the above date The declines m exports from Canada, Australia, and Eastern Europe may be offset by larger shipments from Argentina, South Africa, and the European Community. World production of protein meals and fats and oils is forecast to decline m 1980-81, primarily because of the drought that hurt the U.S. crops. Global meal production is expected to drop seven percent. However, fats and oils output may decline only three percent, and palm oil and other foreign high-yield oilseeds will be up. Because of large carry-m stocks from last year’s record crops, world utilization of both meals and oils is likely to increase during 1980-81, although much less than m earlier years. U.S. agricultural exports are expected to total bet ween $4O and $45 billion in fiscal 1981, up from an estimated $4O billion a year earlier. The export volume will probably be only slightly larger than the 162 million metric tons forecast in fiscal 1980. The agricultural trade surplus may reach a record $25 billion, compared with $22.5 billion estimated in fiscal 1980. Increased global pork and FENCING SUPPLIES SALE 109" SALE 160" SALE 179" LANCASTER 1570 Manheim Pike, Hwy. 72 North Ph: 717-569-0111 Sale Hours: 8:30-5:30 Mon.-Fri. 8:30 - 5:00 Saturday The first is a Halloween party and dance for anyone 13 years and older at the farm of Elvin and Marian Breneman, Donegal Springer Road, Mount Joy. There will be a 50 cent admission charge and all attending are asked to wear a costume with street clothes underneath. Prizes will be given for the best costumes $27* 7 AMERICAN BARB WIRE 12% Gauge 24672-282 Reg. 34 97 SALE 47" e 199 II SALE 3 I I'!, Lancaster Farming, Saturday, October 18,1980—C33 poultry production in 1980 will more than offset the expected 1.5 percent decline in beef output. The rapid increase m pork production over the past several years, combined with weak economic growth, have resulted m an oversupply of pork in many areas. Some producers are reducing breeding herds, and pork production will fall below year-earher levels by late 1980 or early 1981. The same oversupply and poor economic conditions 4-H council announces events LANCASTER - The Lancaster 4-H County Council is eagerly awaiting several upcoming events. 11 GAUGE TOP and BOTTOM WIRE 12Vz Gauge Center 39" high, 6” spacing 24706- $ 73" 47" high, 6” spacing 24707- *B3" 9GAUGE TOP and BOTTOM WIRE 11 Gauge Center 39” high, 6" spacing 24678-282 *103" 47" high, 6" spacing 24681-282 m $ 117" Sale prices good only through SATURDAY, OCTOBER 25. 1980 that are hurting the world pork economy are also af fecting poultry. But the poultry industry has been helped by strong growth in poultry product demand m the Mideast and USSR. Beef and veal production in many major producing regions of the world will be down in 1980. However, cattle inventories in the major producing areas are expanding and will allow increased beef and veal production in 1981. m several categories. Coming November 19 will be a trip to see the Hershey Bears play. Cost will be between five and six dollars per ticket and orders must be with the 4-H office by November 12. Telephone number there is 394-6851. On December 8 the Council js sponsoring a skating party from 7 p.m. to 10 p.m. at the Greenfield Skate-A-Rama. Ail 4-H’ers are welcome to the hockey game and the rollerskating party. *2“ Reg. 285 / SAVE 57‘ 24677-282 6' Steel "T" Post *2” Reg 3.15/SAVE63' 24690-282 6 y 2 ' Steel "T" Post ———
Significant historical Pennsylvania newspapers