Alt—Lancaster Farming, Saturday, February 27,1952
(Continued from Page Al 7)
set-aside programs, processor
demand the balance of this crop
year, a return to more profitable
poultry production, renewed red
meat expansion, poultry exports
(Russia's recent purchase of 5,000
tons of frozen broilers and possible
Mid-East frozen poultry demand),
and of course the domestic
economy.
“Our in-house economists are
still anticipating an annualized
rate of decline in real GNP of 2.5
percent for the current quarter
with an upturn in the economy
emerging in the spring quarter,”
he said.
What’s the outlook for com? “We
simply have more supply than we
currently need,” he said. “The 1.7
billion bushels of 1981 com under
loan and the 1.0 billion bushels of
1980 and 1981 com in reserve
represent approximately 28 per
cent of next year’s anticipated
demand. Our com exports still lag
last year’s. The set-aside program
just announced calls for a 10
percent cut in feed grain acreage,
a 15 percent cut for wheat, and a 15
percent cut in cotton acreage.
“It’s simply too soon to ascertain
intended compliance. The
program will have to be carefully
examined by all producers before
they make their planting decisions.
We could well continue to see new
crop months gaining on nearby
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Selling crops
months as long as uncertainty
exists over the acreage, planting
conditions, and growuig conditions
for next year’s com crop. ”
There’s also the question of when
fanners and dealers will turn loose
the grain now in their bins. And if
.more favorable price con
siderations begin to evolve, will the
public come back into the futures
market? “1 think that all we need
is a reason to be bullish arid the
volume and open interest will
come back aggressively,” he
predicted. “Even though con
ditions don’t currently look that
favorable, I wonder how much of
the bearish news the market has
discounted,” he said.
Purkey explained that the
reason he devoted much of his talk
to an economic overview was
because he feels it’s important for
growers to recognize the current
economic environment.
“Every Friday 1 used to look at
world-wide weather patterns,” he
Counties
It’s time to enter the Md. Sheep
WEST FRIENDSHIP - It’s
lambing tune! That wonderful
tune of the year is here when
said. "Now I anxiously await the
release of the money market
supply figures. Whether these
figures are valid indicators or not,
they're watched by many traders
today. And they do affect our
markets.”
He concluded his talk by urging
farmers to take an optimistic view
of the future.
“Although the current
agricultural environment leaves
much to be desired for the
American agribusinessman, I
remain firmly bullish on
agriculture over the long term. We
simply need to survive over the
short run. We must stay as in
formed as possible during these
trying tunes and make the most
informed and advantageous
marketing decisions possible.”
ad Wool contests
shepherds spend the better part of
the day—and night—at the barn
harvesting the fruits of their year’s
labor.
it’s also the tune to pick out
entries in the kth annual Maryland
Sheep and Wool Festival, May 1-2
at the Howard County
Fairgrounds, just oft Route 70.
There is no charge to attend the
two-day affair which is packed full
of tun activities.
You can enter that lamb ui the
feeder lamb show and sale or the
carcass lamb contest. Be sure and
buy a raffle ticket tor a try at
winning that champion carcass tor
your freezer. There is also a white
wool and a natural colored sheep
breed show to enter.
You too can enter a contest to
test your skill as a shepherd. There
is a shearing contest which is as
much to watch as to enter. And,
speaking of shearing off those
fleeces, there is a wool judgmg
contest and a barn lull ot fleeces
where you can buy and sell to your
heart’s desire. New this year will
be a spinning contest and a sheep
photography contest.
If you'd rather just be an ob
server there’s plenty to watcb'with
the intriguing sheep-to-shawl
contest. Teams consisting ot
-shearers, spinners, and weavers
pit their skill and speed to take the
wool from the sheep to a spun and
woven creative shawl which will be
judged and then auctioned to the
highest bidder.
High on the list ot crowd pleasers
are the sheep dog demonstrations.
Wool Queen Contest, and a barn
overtlowuig with craftsmen with
their wares for sale. There is
something there for everyone!
For a catalog describing the
events and contests write to the
Maryland Sheep and Wool
Festival, P.O. Box 135, West
Friendship, ML)217»4.