D6—Lancaster Farming, Saturday, September 15,1984 BY JACK HUBLEY LEOLA “I’m really excited about the large number of hybrids we have to offer you this year,” Pioneer Hi-Bred’s district sales manager Tim Markovits told a group of 170 farmers who turned out for Pioneer’s Field Day on Sept. 8. This year’s Field Day was staged on the Leola farm of Pioneer dealer Aaron Hurst, where farmers had the opportunity to inspect the progress of a dozen Pioneer varieties, including six new hybrids available for the first time this year. Other Pioneer representatives taking part in the event were Martin Snyder of Ephrata, Hess Farm Supply of New Holland, and Harvey Homing of Denver. Following a complimentary lunch, four speakers covered topics ranging from the newest Pioneer releases, to this year’s corn crop nationwide, to farming practices at the local level. Leading off the presentations was the event’s manager, Tim Markovits, who noted that the 36 inches of precipitation received from January to August equals the PI BUSINESS NE Take a revealing look at future of ag DENVER, Colo. A research report released by the Farm Credit System predicts that U.S. agriculture will continue to face difficulties over the next 10 years. The report noted, however, that there will be profit opportunities for innovative and progressive IH plans Red Power Progress Days Farmers from across the country will be checking out International Harvester equipment this fall during the annual Red Power Progress Days sponsored by IH dealers. Since 1978, IH Red Power Progress Days have brought farmers together to learn about equipment from product information specialists and through hands-on field demonstrations. Again this year, agricultural machinery will be displayed and demon strated. Farmers will have the opportunity to view a special arena show, test drive equipment, enjoy refreshments and win door prizes. The 1984 Red Power Progress Days will feature a sweepstakes for free IH plant tours. The sweepstakes will be open to persons 18 and older who are actively engaged in agriculture. oneer showcases new normal total received in an entire year. “The IVz inches we got in July was a real blessing,” Markovits remarked, adding that despite high humidity, leaf blight seems to be relatively low overall. He pointed out, however, that the European corn borer has been feeding quite heavily and may have an effect on standability in some fields. Markovitz also said that the northern com rootworm has been a problem this year, and he advised treatment for next year if the population of beetles reaches two or more per ear. Markovits then turned the microphone over to regional sales manager John Weidman, who remarked that through his travels, he estimates the com crop to be about two weeks behind schedule from the corn belt, and east. He assured everyone that Pioneer’s seed crop appears to be in ex cellent shape, contrasting sharply with last year when drought created shortages of some varieties. Weidman pointed out that seven years of development is required for one hybrid, with today’s operators who manage risk well. These conclusions were the result of a study conducted by selected senior officers of the 37 banks and other agencies of the nation-wide Farm Credit System. The study, called Project 1995, forms the basis of fact and analysis • •• hybrids remaining on the market for only about 3M> years. Next on the agenda was Lan caster County extension agronomist Arnold Lueck, who voiced his concern over soil fer tility and erosion. Lueck noted that the excess application of animal manures is causing water problems from the homeowner’s well to the Chesapeake Bay. “You can meet your fertilizer requirements with nothing but animal manures,” Lueck said,“but your phosphorus and potassium levels get too high. And all this excess fertility results in high levels of soluble salts.” Lueck advised using manures on those fields with the lowest soil tests, and avoiding application on established alfalfa and clover. Don Robinson, the Eastern Lancaster County School District’s Young Farmer advisor then touched on the problem of soil compaction, noting that the unusually wet spring has made compaction especially serious this year. He also advised farmers that a final alfalfa cutting during the first two weeks of September would not be harmful to the crop as long as 5M> to 6 weeks have elapsed since the last cutting. Following the presentations, farmers adjourned to the field for discussions of the Pioneer hybrid plot led by Tim Markovits and John Weidman. Markovits stated that this year’s hybrids may increase yields by as much as eight to 18 bushels over older varieties. New entries for this year include 3378, 3358, 3389, 3192, 3055 and 3352. Varieties especially suited for no-till plan ting are 3358,3378 and 3747, he said. on which the Farm Credit System will base its strategic planning. The project is directed by a leadership group headed by Thomas N, Farr, president of the Louisville Bank for Cooperatives. Other members of the leadership group are Burgee Amdahl, chief corn varieties v'tv .'Vf -* » )* Jtt Pioneer district sales manager Tim Markovits acquaints farmers with one of the company's new hybrids. Pioneer’s Field Day on Sept. 8, attracted 170 Lancaster County farmers to Aaron Hurst's Leola farm for a look at the new varieties available for next spring’s planting. executive officer, Farm Credit Services of St. Paul; Art Buf fington, president; Federal Land Bank of Omaha; and C.T. Fredrickson, senior deputy governor, Farm Credit Ad ministration. “To carry out the study,” Farr said, “we assembled more than 50 of the system’s top officers. We divided them into six work groups, each assigned to study a key issue area which will shape agriculture and financial markets in the coming decade.” Much Change Key issue areas identified by the leadership group are: production agriculture; cooperatives and agribusinesses; the financial in dustry; the political environment and government policy; business technology; and human resource trends. “Our research in each of the six key areas produced many forecasts for change in the agriculture industry,” Farr said. “All institutions serving agriculture need to recognize these changes and be prepared to deal with them,” he added. The Farm Credit System study predicts increasing segmentation in agriculture, Amdahl noted. “Our research indicates an ac celerating movement toward a bi modal structure in agriculture,” he said. “This means relatively few large farms are going to ac count for most of the farm output and income. On the other hand, many smafi farmers will in creasingly need to supplement ■X»,V . v T?K' /&* **** V*- I Farm their incomes through off-farm employment.” “Agriculture’s financial outlook is less optimistic than during most of the 19705,” Buffington said. "There will be increased pressure on liquidity and incomes. The need for capital, though it will continue to grow in the next decade, will not increase as rapidly as in the 705,” he said. The study predicts that total farm assets will increase at about 6.5 percent per year with non-real estate assets growing faster than real property assets. Total agricultural debt is expected to grow at 7.5 percent annually and reach $465 billion by 1995. Farr noted that agricultural cooperatives face a number of challenges in the 1980 s and 19905. Capital needs ‘‘Obtaining sufficient equity capital will be the most important challenge cooperatives face,” Farr said. “Agricultural producers will expect good service and definite economic benefit before investing in their cooperatives.” The Project 1995 report notes that the trend toward con solidations, mergers and restructuring of cooperatives will continue. The report anticipates fewer local and regional cooperatives, but some will become larger through mergers. The 1995 study also forecasts continued change in financial markets and institutions. The private savings rate in the (Turn to Page D 8) L PIONEER Credit News
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