A2S—Lancaster Farming, Saturday, March 17,1984
Cooperatives offer
(Continued from Page A 27)
periods of over-product ion and
then periods of cutting back.
Moore said the dairy industry
has been shielded from these
cycles by support prices, but added
that unless “we have some way of
controlling what individual far
mers do, the production problems
are likely to continue. Agriculture
is the closest to a competitive
industry which exists in the United
States today.”
Optimistic about the economy,
Moore called this year the “funny
season,” noting that during an
election year those in power will
continue to spend whatever it takes
to stay in power, and they will not
raise taxes.
He jvas not enthusiastic about
the potential of the proposed
promotional program to make a
dent in the surplus. The $2OO
million to be spent will “stop very
short of solving the dairy surplus
problem,” he said. Since every
commodity is now advertising
programs. Because stomachs only
hold so much, Moore said, “We
have,to displace something else.”
Despite the fact that par
ticipation in the reduction program
is “disappointing,” Moore said
there will be some pluses. “Each
time the support price for milk is
cut milk becomes a better buy for
the consumer. That’s one of the big
gains.” Since there are two
reductions in support price written
into the law, consumers will
benefit.
He added, “There is no quick
way to match production and
consumption.’’ He said the bill was
written to attach the problem of
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production because there was not
enough time to tackle the problem
of consumption.
What’s next for dairy farmers?
Moore predicts it will be pretty
much business as usual until April
1,1985 when the first $.50 reduction
takes place. When the second
reduction takes effect on July 1,
1985, the support price will be at
about $11.60.
The good news Moore brought
his audience is that total farm
income will probably go up in 1984
to an estimated $29-$34 million
from $23 million in 1983. In plan
ning for 1984 Moore advised far
mers not to wait to buy “price
rising items.” He cited fertilizer as
one example of an item which
farmers will need and could
purchase now. This will also make
it necessary to arrange for
borrowing early.
He also advised, “Don’t buy big
ticket items for tax reasons only.”
That’s false economy. He added,
“Bigger is not always better.”
Moore said that loans will be
based on cash flow rather than
assets, forcing good records and
management by He also
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advised thinking of debt
retirement, which is what many
did with their 1983 PIK payments.
The PIK program was suc
cessful, Moore stated, but only in
combination with the 1983 drought
which helped cut production.
Production of teed gram was cut in
half, to reduce stores of grain from
a six-month carry-over in 1983 to a
six week carry-over in 1984.
Moore called 1984 the ‘‘con
tinuing saga of the dairy non
program.” He said Congress
seems only able to deal with the
surplus problem on a short term
stop gap basis, blaming part of this
on the fact that everything is done
based on a two-year term with re
election looming large in how they
act.
The pressure is on for interest
rates to go up, which is one reason
farmers shouldn’t wait to buy
things they need. Consumer in
comes are up and they are
borrowing more and spending
more, which is good news not just
for the general economy but for the
agricultural economy as well.
“They are buying products they
couldn’t afford before,” Moore
noted.
He called the federal deficit an
“overriding problem, which really
aren’t attacking.” After the
election, he said something will
have to be done.
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Cooperative’s Board of Directors at their re-organizational
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John Paxton, treasurer.
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