A24— Lancaster Farming, Saturday, September 5,1981
NCA asks for interest
rate decline
DENVER, Colo. - The National
Cattleman’s Assn, has asked
President Reagan to help see that
interest rates are permitted to
decline evenly and slowly over the
next several months.
In a letter to the President, NCA
President J.W. (Bill) Swan said, "1
cannot over-emphasize the
seriousness of the cost of money to
cattlemen. Since 1976, the interest
cost of raising a calf or feeding out
a steer has risen from about 5
percent of the total cost to 14
percent—an increase of 270 per
cent. This increase in interest costs
represents the difference between
profit and loss in our very low
margin industry.
"We continue to support your
economic programs. But we feel
that the relative risk of main
taining current levels of interest
rates, while the economy slows, is
so great that an immediate shift is
required to allow interest rates to
decline evenly and slowly. ’ ’
Swan said NCA recognizes the
need for restraint on money supply
in order to control inflation. But, he
added, NCA "supports a
philosophy of allowing interest
rates to adjust slowly in order to
prevent a repeat ot the 1980
debacle, when interest rates
dropped from 21 percent to 12
percent and then returned to 20
percent.
“Neither agriculture nor the
cattle industry can tolerate a
repeat of the volatile interest rates
experienced over the past 18
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months. Failure to permit a slow
and even decline in interest rates—
reflecting changes in economic
conditions—could leave
agriculture in its worst condition
since the 1930’5.
"We do not want the ad
ministration and Federal Reserve
to abandon their inflation battle,
but we do feel it is necessary to
recognize the risk to the economy
and cattle industry of holding to a
monetary policy that threatens a
repeat of 1980.”
Swan’s letter to President
Reagan followed NCA board ot
directors action directing that the
President’s attention he called to
the problem ot high and volatile
interest rates. In other action, the
board approved a fiscal 1981-82
program and budget which will
further improve NCA’s services in
government affairs and other
areas.
Eggs up slightly
HARRISBURG - July, 1981 egg
production in Pennsylvania totaled
348 million according to the
Pennsylvania Crop Reporting
Service. The July production was
one percent above the 344 million
eggs produced in July, 1980. The
July average ot 16.2 million layers
was one percent higher than a year
ago. Egg production per 100 layers
was 2,151 compared with 2,157 in
July, 1980.
m op
. 717-432-9738
USDA confirms scrapie
flock
Wisconsin sheep
HYATTSVILLE, Md. - U.S.
Department of Agriculture of
ficials have confirmed the nation’s
seventh outbreak of scrapie this
year in a flock of 110 sheep in
Barron County, Wis.
Officials of the national
headquarters of USDA’s Animal
and Plant Health Inspection
Service in Hyattsville, Md., report
six other scrapie outbreaks so far
this year. These involve sheep in
Columbia county. Wise.; New
London county. Conn.;
Rockingham county, N.H.; Sussex
county, N.J.; Ulster county, N.Y.,
and Harford county, Md.
Dr. A.R. McLaughlin, APHIS
veterinarian in charge in
Wisconsin, said the infected flock
will be destroyed to eliminate the
infection, and the owner will be
indemnified for his losses.
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About 30 sheep were sold out ot
the flock aftemg having been in
contact with animals that
developed scrapie. These sheep,
which are considered exposed, will
be located and destroyed by USDa
disease fighters, with indemnities
paid to their owners.
McLaughlin said scrapie is a
slow-acting but fatal viral disease
of sheep and goats that attacks the
central nervous system. Since
there is no treatment or cure, the
disease can be stopped only by
destroying all infected and ex
posed animals.
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“It may take months or ev<
years for an animal exposed to tl
disease to show clinical signs of
infection—usually intense rubbi
against fixed objects to retie
itching,” McLaughlin said.
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