A26—Lancaster Fanning, Saturday, November 1,1980 1980 corn, bean harvests NEWARK, Del. - Current estimates put the U.S. 1980 com crop at about 6.467 billion bushels, down 14 percent from last year - a big drop, but still near the third largest yield on record. The 1980 soybean crop is expected to yield about 1.757 billion bushels, 22 percent less than last year. It’s too early to know how Holly Hill Farms sells top Shorthorn FREDERICK, Md. - The Maryland Shorthorn Association recently held their annual feeder calf sale here at the Fairgrounds. The top steer of the sale was a purebred Shorthorn consigned by Holly Hill Farms, Ijamsville, Md. The calf sold to Donald Neff of Leesburg, Va. for $BOO. T. Courtney Jenkins, Owmgs Mills, Md. sold the second high steer, also a purebred Shorthorn. Lana Hobbs of Damascus, Md. purchased the calf for $5lO. The top two crossbred Shorthorn steers sold to Mark Hooper, Frederick, Md. for $450. The steers were consigned by Edwin Hevner, Umon Bridge, Md. The top heifer calf was consigned by Otis Fisher, Farmers update pesticide cards Pesticide applicator licenses, which allow farmers to apply restricted-use chemicals to their fields, expired last month. Unless farmers renew their certification they will not be allowed to use restricted pesticides on their farms. This group of Lancaster County farmers renewed their licenses last Friday. Several extension, young farmer, and commercial groups are running sessions to help farmers get certified. Contact local extension offices for times and dates. BEWARE NVonure P'rt prob Jen(« Are You Considering A New Manure System? Before You Build - Talk To Us. Let Our Experience Work For You. We Will Avoid A Lot Of Pitfalls For You. No Chan SHENK'S FARM SERVICE 501 E. WOODS DRIVE, LITITZ. PA 17543 much of a drop in Delaware’s soybean yield there’ll be this year, though earlier estimates indicate a 12 percent decline in soybeans. Drought-blitzed cornfields may have produced about 29 percent less than they did in 1979 At the same tune, carry overs of U.S. corn and Staunton, Va. She sold to Thurman Perry, Win chester, Va. for $315. Twenty steers auctioned off by Robert Hooper of Frederick, Md. brought $7530 for an average of $376.50. However, the purebred steers averaged more than the crossbred steers. Fifteen BEWARE BEWARE e For Consultation CALL 717-626-1151 soybean stocks remain high, reports University of Delaware extension crops marketing specialist Carl German. The September first carry-over of old crop soybeans, for example, came to a record 359 million bushels - more than twice last year’s carry-over and 123 percent more than m 1978. purebred Shorthorn steers averaged $390.66, while the five crossbred steers averaged $334. Seven purebred Shorthorn heifers sold for $1935, averagmg $276.42. The total sale netted $9465 for the 27 head consigned. Sale manager was Henry Dodrer, Jr. of Littlestown. affect marketing strategy How do all these figures affect the marketing strategy of local gram farmer 7 Even though U.S. production doesn’t relate directly to that on the Shore in every crop year, German says it’s helpful to use these figures in deciding how to market the rest of your 1980 crop - either corn or soybeans not already hedged or sold. This information can also help you develop a plan for selling your 1981 crop. “The crop forecasts from here on out aren’t likely to change much from the October 10 USDA estimate,” predicts Ger man. “The supply situation here on the Shore is drastically reduced because of this year’s short crop. All this production and supply data points toward near term higher prices. It looks like it would be wise to hold a part of your 1980 crop m anticipation of higher prices, though prices on the cash market are reasonably good how. too.” As of October 10, the December 1980 com price on the Chicago Board of Trade was $3.54 a bushel, while November 1980 soybeans were priced at $8.24 % a bushel. Meanwlule, spot cash pnces in one area on the Shore were $3.50 for com and $7.86 for soybeans. The difference between these futures and local cash prices indicates a good basis. In deciding how to sell the rest of your 1980 crop, it’s important to consider your CARLOAD SPREADER SALE $ l4OO DISCOUNT ON ANY DOUBLE AXLE SPREADER Now... move big volumes fast If you have a lot of manure to haul and spread throughout the year, we have some good news for you two big , capacity, high-strength spreaders The 595 has a heaped capacity of 343 cu ft. the 575 a heaped capacity of 271 cu ft Here's capacity to make short work of your biggest spreading jobs, capacity that will give you more time for other jobs Both models have tandem wheels on bogie-type axles to help ease heavy loads over rough ground at fast spreading speeds ill [3 INTERNATIONAL ■ AGRICULTURAL A I EOU,P " E " T COPE & WEAVER CO. New Providence, PA 17560 717-786-7351 tax plans for the current year, says the economist. Some farmers may fmd it wise to base their marketing decisions on their tax management needs from now to the end of the year. II you don't need money now, you might consider flat price selling the rest of your 1980 crop for January delivery, or basis trade a part of the crop. A flat price trade would allow you to deliver now and accept payment either now or m January. Use this alternative if you anticipate a price decline on the Shore before the January payment date. This marketing method allows you to establish a definite price for your corn while postponing payment. With a basis trade option you can contract a certain number of bushels for January delivery and leave the gram unpriced. Use the local basis as your guide in deciding whether it will pay to do this. What you receive will be determined by what happens to the January futures price between now and the delivery date. You will know at the time the contract is established what the gram dealer ex pects to deduct from that price. If the balance in the basis is in your favor after that deduction, this type of sale could be profitable. The advantage of a basis trade is that it allows yoi accept payment after the first of the year and at the same time take advantage of For smaller spreading jobs IH of ters you the 560 540 and 530 spreaders with single axles and heaped capacities from 148 to 216 cu ft They have many of the design features you'll find in the larger sizes • Bear Claw beaters for good shredding and spreading action • Beveled worm gear for long life of the drive components Penta-trealed %" plywood floors Rust-resistant steel sides (guaranteed to the original owner for the life of the spreader) any price increase you ex pect to occur between now and then. A third alternative is to store your grain and hedge part of it for future delivery. This lets you protect yourself agauist any price decline which might occur while your gram is in storage, even though you are storing in anticipation of a price m crease. This is the tune to develop a marketing strategy for your 1981 crop, too, says German. As of October 10, the November 1981. soybean futures price as $8.12 a bushel. The December 1981 futures pnce for com was $3.46 a bushel. Providing these prices are profitable, he feels that present stocks and production levels in dicate it would be wise to hedge part of your 1981 crop. Of course, the profit level that a particular pnce offers can’t be determined unless you know your production costs. Based on a recent U.S. Department of Agriculture study, it cost between $2.00- $2.50 to produce a bushel of com this year, excluding land and irrigation costs. It cost around $6.00-6.16 to produce a bushel of soybeans, not counting land and irrigation. Better yet, check your own records to find out exactly what it cost you on your farm. For further, in formation on planning your marketing strategy, contact extension marketing specialist Carl German at 302/738-2511. Finance plans available.