DB—Lancaster Farming, Saturday, March 3,1984
You hold
BY KIMBERLY HERR
LANCASTER Point your
index finger, raising it upward to
the ceiling. Where is your thumb
pointing 9 If you followed direc
tions, your thumb is pointing to
you, and that was the point made
by John R. Moulton, director of
operation for PFA’s Farm
Speakers > . ti,
left, H. Louis Moore and John R. Moulton. Standing at left are
Darvin Boyd, agri-finance director at Hamilton Bank;
Laurence M. Strassner, Hamilton Bank president: and Henry
K. Long, Jr., executive vice president of Hamilton Bank.
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the key to ag’s future
Moulton spoke on ‘‘What It Will
Take to be Successful in Ag in the
1980 s” during the Hamilton Bank
Agri-Education Seminar, held
Feb. 23 at the I Lancaster Farm
and Home Center. “Analyzing
Your Operation for Profits" was
this year’s theme
“We in agriculture have a habit
else,” Moulton said "Always
remember where that thumb is
pointing It all comes back to you ”
Moulton used several charts to
illustrate the current and past
farming trends One such chart
illustrated how at one time a
farmer could sell his livestock and
equipment assets to pay his debts
and remain in busines but “in
1982, a farmer could sell all of his
equipment and livestock assets
and still have $60,000 worth of
debt ”
Moulton explained that farmers
are in a situation they have not
been in before, meaning farmers
today may have to sell their farms
to get out of debt
Why 7 Moulton put much em
phasis on planning and
management
"Part of the reason why farmers
are in trouble today is because
they haven’t considered their total
costs,” Moulton said
He encouraged the farmers
present to consider everything
before making decisions and
especially before expanding
“You may be decreasing
profitability by trying to be the
biggest and the best,” Moulton
said
Moulton explained how he
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thought agriculture got to be where
it is today During the good years
when profits were comfortable,
Moulton explained, management
may have become lax
“As the profit margin narrowed,
management practices did not
change to adjust,” he explained
“Our present profits cannot ser
vice the debt that we have come up
with
“I see that pressure has been
building up for the past 17 years
like a time bomb slowly ticking
away,” Moulton said “For some,
the bomb has already gone off and
they are picking up the pieces right
now "
Moulton urged the some 300
people in attendance not to give up,
that there was still time to do
something about the current state
of agriculture
‘lf you plan ahead, you can use
all of your resources,” he said
“Whether you like it or not, far
ming is big business Farming will
not be a way of life, you will have to
look at it as a business ”
Moulton urged the women in
attendance to get the whole family
around the kitchen table, to get
everyone to discuss and consider
their resources and options
“I rest my whole case on
management,” he said ‘There
was a time when brawn and hard
work was all you had to do to be
successful, but times have
changed ”
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management practices, according
to Moulton, are good records and
the appropriate amount of credit
“You need to work with lenders
who can say no,” he said “Go with
those who understand
agriculture ”
As a final note of advice, Moulton
told his audience to make sure
their bankers come out and meet
with them on their farm, their
“own turf "
“And if he doesn't," Moulton
said, “find another creditor "
Following Moulton’s presen
tation was H Louis Moore,
agricultural economist at Penn
State, who spoke on “Hedging for
Extra Profits ”
Moore spoke on the advantages
and disadvantages of dealing in the
commodities market
According to Moore, the ad
vantages of hedging, which is
contracting a commodity you now
or will have, are letting someone
else carry the risk of price changes
and letting you price your goods up
to two years prior to delivery
The disadvantages, according to
Moore, are foregoing profit and
running the risk of becoming a
speculator, which is someone who
deals in commodities he does not
have
Those in attendance also heard
from Moore on the ‘Economic
Outlook and Other Witchcraft,"
and from Jay M Siegnst, CPA,
Kuntz Associates, on
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