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PEACE-OF-MIND WARRANTIES
• 1 year basic warranty coverage
• 3 year/3000 hour engine and power train warranty
2-SEASON PEACE-OF-MIND WARRANTY
ON ALL NEW GLEANER COMBINES
Covers both rotary and conventional designs
PEACE-OF-MIND GUARANTEE
OF NEXT-DAY PARTS SHIPMENT
PEACE-OF-MIND TRACTOR WARRANTY
EXTENSION PLAN
Optional plan extends your first year warranty
coverage out to 3 full years or 3000 hours.
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Allis Chalmers reserves the right to alter or withdraw program at its option without notice
MARSHALL MACHINERY
Honesdale, Pa.
717-729-7117
"■MI-*
Airville, Pa.
717-862-3967
B. EQUIP., MC.
Waynesboro, Pa
717-762-3193
BAR FARM Efl. MC.
Beavertown, PA
717-658-7024
DOTTERER t KOLESAR,
INC.
Mill Hall. Pa
717-726-3471
NICHOLS FARM EQUIP.
Bloomsburg, Pa
717-784-7731
NEW TRACTOR
Standard with purchase in 1984 of any new
current-production tractor or combine.
Atm El, INC.
Rising Sun, Md.
301-398-6132
B.HJB. Fjjgl EQUIP.,
Annville, Pa
717-867-2211
ROY N. BUCK, INC.
Ephrata, Pa
717-859-2441
CJ. WONSIOLEtt BROS.
Quakertown, Pa
215-536-7523
SRUMELLI
FARM SERVICE
Quarryville, Pa
717-786-7318
ALLIS-CHALMERS
<S%€9
POWER PRO EQUIP. CO.
CJ. WONSRH.ER BROS. Milroy.Pa
Oley.Pa. 717-667-6504
215-987-6257
SHARTIESVIUE
FJUM SERV.
Hamburg, Pa.
215-488-1025
I.H. IRURAKER, INC.
Lancaster, Pa.
717-397-5179
iohn mr. saws
A SONS INC.
Flemington, N.J
201-782-4242
CANYON HNPLEMENTS
INC.
Manfield, Pa
717-724-2731
PETERMAN FARM EQUIP.
Carlisle, Pa
717-249-5338
Better
by Design
HUSHES NOS. WC.
Westminster, Md
301-848-6313
VERHOH E. SNIP CO.
Frederick, Md
301-663-3185
WERTZ GARAGE, IHC.
Lineboro. Md.
301-374-2672
mr
Somerset. Pa
814-445-4189
MCN SHEARER EQUIP.
Johnstown, Pa
814-266-9721
♦ * 4 Ok* t4l> (. Aft «>!)»*». •!>. i r < - • n ,
Lancaster Farming, Saturday, March 31,1984—A37
Look into Futures
THOMSON MCKINNON SECURITIES INC.
Wednesday, March 28:
GRAINS
Strong corn exports this week
are lending further support to the
six-week rally we have seen. Of the
43 million bushels shipped this
week, Russia and Japan took 11.5
and 9.9 million bushels respec
tively. Ideas about continued trade
activity have pushed May com up
toward 3.60. However, several
factors could temper the rally.
New crop wheat supplies look
adequate and displacement of com
by wheat which has been so
prevalent this year could continue.
Also, as export quality #2 and #3
com get scarce, price rationing
and additional premiums may
force large foreign buyers out of
the market.
World economics, which are still
in much more of a recession than
we Americans tend to believe,
have gotten quite accustomed of
late of living hand to mouth.
Buyers who can defer purchases
until new crop lower prices
become available, will probably
try to limit their trade activity this
summer.
The soybean complex is on the
same up trend as com, but looks
tentative in the short run. Un
certainties about Brazilian
marketing policy and rumors
about poor Brazilian soybean oil
quality and meal demand have
clouded the fundamental picture.
Brazil has made an apparent
attempt to support prices by
withholding export registrations.
This week they lengthened the
period in which the registration
will be in the effect but have
allowed shipments a loophole.
Ships will be allowed to forward
load export supplies in anticipation
of the government prematurely
lifting registration requirements.
We have come to expect this
from the Brazilians. They are in
dire need of foreign currency to
pay their debts; so regardless of
what they do in the short run, they
can be expected to aggressively
export every last bit of oil and
meal they produce.
From the supply side, analysts
expect Brazilian production
around 15 million metric tons
down from early estimates near 16
million metric tons (a decline of
about 37 million bushels).
Malaysian palm oil supplies have
not yet shown their seasonal
rebound and all oil supplies still
remain tight. This is all bullish, but
for the most part already reflected
in futures prices.
From the demand side, while oil
movement remains steady and
domestic crush rate is ahead of the
pace needed to meet the USDA
forecast (20 million bushels
currently vs. 17.2 USDA), meal
demand remains poor.
Basis bids for meal at the Gulf of
Mexico are $35 per ton under
Chicago futures, which indicates a
very weak market. Either basis
could improve (demand pickup) or
prices in Chicago could decline.
Sheep breeders to meet
FLEMINGTON, N.J. - The
condition known as pregnancy
toxemia in sheep will be the sub
ject of Monday’s meeting of the
Hunterdon County Sheep
Breeders’ Association at the
Extension Center, Rt. 31, north of
Flemington. The meeting is set to
begin at 8 p.m., according to
Richard Betts, Stanton, program
coordinator.
Pregnancy toxemia, says Betts,
By Dick Slay
(800) 336-0241
The strength in meal prices on the
board for the last three weeks has
been partly due to sympathy with
oil and beans and partly to rumors
of heavy Russian purchases.
So far, there is little evidence to
support these rumors of meal
purchases. Some well placed
sources indicate the Russians may
do significant whole bean pur
chases rather than meal in the
near future. Thus while the short
term trend is sideways to up, most
technicians agree that the long
term trend remains down in
soybean meal. Within a week we
should have a better feel for a
direction in meal prices.
The livestock markets are still
digesting the numbers from last
week’s bullish Hogs and Pigs
Report. Analysts are looking for
$6O to $65 cwt in the summer
months, as the seasonal decline in
numbers continues. Some are
calling for hogs equal to er at a
premium to cattle by midsummer.
There is evidence that
warehouses are aggressively
buying hogs now for storage and
resale when the summer price
increases occur. This has helped to
keep the April hog contract on a
steady uptrend despite heavy
slaughter rates.
The weak financial position of
many hog operators could put a
damper on aggressive herd ex
pansion. Until producers can lock
in hedges at a hog to com ratio
above 17 to 1, herd expansion is
unlikely. Historically, however,
expansion as not occurred until
farmers actually see the cheap
feed at harvest time.
Cattle markets continue to
mystify market observers by their
behavior. Although they seemed to
rally in sympathy with the hogs
last week, the April and June
contracts have shown difficulty
taking out contract highs.
Weather problems in the mid
west are causing problems of
backup, gam and quality for fat
cattle. Further precipitation can
only worsen the situation in the
near term. Premiums for clean
cattle can be expected. Retail
movement last week seemed to
clean up inventories but only the
lower prices. Indications are that
inventories are again ac
cumulating at the 1.06 cwt level as
slaughter supply still exceeds near
term demand. Packer margins
remain negative and slaughter is
expected to be held below 130,000
per day until the bottom bnes can
be unproved.
Near term, retail movement is
slow and both hogs and cattle can
be pressured. However, with poor
feedlock conditions causing many
large feeders to move cattle early
and the bullish hog fundamentals,
a very constructive scenario is
developing for the summer
livestock markets. One should
keep in mind that we are not far
away from cookouts and BLT
season.
is a malady that affects the ewe
several weeks before lambing.
Unless it is detected in its early
stages, it can be fatal to the ewe
and the lamb. It is caused by low
blood sugar.
The condition, treatment and
prevention, will be discussed by
members of the group.
The meeting is open to all per
sons interested in breeding and
raising sheep.