Loading...
The Citizen, 1992-03-11, Page 15THE CITIZEN, WEDNESDAY, MARCH 11 , 1992. PAGE 15. Prices higher at Brussels Livestock last week Sales at Brussels Livestock for the week ending March 6 were: slaughter cattle, 815; cows, 285; veal calves, 240; lambs and goats, 79; stockers, 989; pigs, 259. The trade at Brussels Livestock this week saw premium cattle $2 higher with second cut cattle $1 higher. Cows were $2 higher. There were 584 steers on offer selling from $82 to $92.50 to the high of $104. Eight steers con­ signed by William Bennet & Sons Farms, Gorrie averaging 1328 lbs. sold for an average of $96.10 to the high of $104 purchased by Nor­ wich Packers. Thirty-three steers consigned by George Adams, Wroxeter averaging 1302 lbs. sold for an average of $84.80 to the high of $89.25. Fifty steers consigned by W. B. Pletch Co. Ltd., Rockwood averaging 1319 lbs. sold for an average of $89.10 to the high of Proper farm records help avoid year-end surprises BY BRIAN HALL FARM MANAGEMENT SPECIALIST FOR HURON COUNTY It is that time of year again. If you use a farm operating loan, you likely know about preparing crop and livestock production plans, a debt servicing worksheet and a cash flow. These projections are important as they set out objectives and specify expectations for your farm for the year. Your lender like­ ly requires these statements to determine the amount of operating credit needed. In order to avoid any year-end surprises about where the money went, here are some tips to help you manage the use of your operat­ ing credit. The first thing to remember is that operating credit is a revolving line of credit. This means that it should be paid down by the end of the cash flow period. In reviewing your projected cash flow, check to see if the balance of the operating loan at the end of the year is at least as low as at the beginning. Remem­ ber, if it can't be done on paper it usually won't happen in the field or the bam. The cash flow can be used to monitor business during the year, which helps achieve the plans set out for the farm. After spending hours to prepare a cash flow for the farm it should be used to monitor where the money comes from and where it goes during the cash flow period. To monitor the farm operation compare the cash flow at the end of each month to the books. This will help you plan ahead and anticipate any changes that need to be made. The other benefit of monitoring the cash flow is it helps to keep your focus all year long on achieving the goals set out for the farm. Another idea is to possibly reduce inventories. It usually does not pay to stock pile seed, fertilizer, etc. on borrowed money unless the savings are greater than the interest expense. Demand loans through the banks or through suppliers are compounded monthly (similar to credit cards). Suppliers may be keen to deliver supplies early. Sup­ pliers like to plan their needs ahead of the spring rush to avoid any last minute shortages. They also don't like to hang on to products any longer than they have to. Try to time payments to when cash flows in as much as possible. Rent pay­ ments are a good example here. Increase frequency of buying and selling. Buy supplies only as need­ ed. Cash cheques immediately. Take advantage of interest free periods available with expenses such as suppliers, telephone and hydro. You may find it interesting to monitor your living expenses. If you do not already have one, a per­ sonal chequing account for family needs allows you to separate per­ sonal from the farm business. Many lenders encourage this. Once a month a transfer can be made from the business to the personal account. Are there any capital items on the farm that maybe are not paying their way and could be sold to reduce the operating costs? Finally, remember the operating loan should not be used for the pur­ chase of capital items such as equipment or for holidays or fixing up the house. If you need to borrow for these items, arrange for a term loan. Good luck with achieving your plans for the farm. $95.75. Twenty-four steers con­ signed by Gerald Geisel, Elmira averaging 1480 lbs. sold for an average of $87.45 to the high of $90.75. Forty-one steers consigned by Maple Emblem Farms, Dungan­ non averaging 1412 lbs. sold for an average of $86.35 to the high of $90.90. Forty-one steers consigned by Cunningham Farms, Lucan averag­ ing 1460 lbs. sold for an average of $86.05 to the high of $92. Thirteen steers consigned by Murray Shiell, Wingham averaging 1315 lbs. sold for an average of $83.85 to the high of $90.50. Thirteen steers con­ signed by Murray Forbes, Clinton averaging 1380 lbs. sold for an average of $85.50 to the high of $87.50. Sixteen steers consigned by Ken Eadie, Holyrood averaging 1511 lbs. sold for an average of $85.30 to the high of $86.75. Twelve steers consigned by Dale Taylor, Creemore averaging 1532 lbs. sold for an average of $83.15 to the high of $86. There were 219 heifers on offer selling from $72 to $88.35 to the high of $94.60. Seven heifers con­ signed by G. A. Steward Farms, Ripley averaging 1124 lbs. sold for Letter to the editor Chicken Bd. says KFC wrong Tips on how to run a smooth operation for your group BY JANE MUEGGE RURAL ORGANIZATION SPECIALIST FOR HURON COUNTY, OMAF The terms “Director” and “Board of Directors” are very familiar to most members of organizations. But do your members, and, more important, your directors, know what their role is? Directors are responsible for managing the affairs of an organi­ zation and for applying its constitu­ tion and bylaws. They have no obligation to act honestly, in good faith and in the best interest of the organization at all times. Here are some “Survival Tips” for your Directors: • Attend all board meetings and keep your own meeting notes. • Review all minutes and insist on corrections. • Insist on written legal and pro­ fessional opinions when necessary. • Ensure that minutes record any disclosure, dissent or refraining from voting. • Vote against cash disburse­ ments if there is a chance that the organization may not have enough funds. • Ensure that internal controls are in place to oversee finances (ie. Continued on page 21 THE EDITOR, A spokesperson for Kentucky Fried Chicken stated on a recent C.T.V. national newscast that prices in Kentucky Fried Chicken stores are much higher in Canada because of marketing boards. The Ontario Chicken Producers' Marketing Board warns that this statement is false and the Board will not accept statements which blame the chicken producers of this province for prices in Kentucky Fried Chicken stores. Today, farmers are being paid just under $2.00 for a chicken. The processor who pays that $2.00 cuts the chicken into nine pieces. These nine pieces are then sold to Ken­ tucky Fried Chicken for about $3.50. However, when consumers buy the chicken in a box at a K.F.C. store, they are charged more than $11.50. The Ontario Chicken Producers' Marketing Board is sur­ prised that Kentucky Fried Chicken would go on national television and blame the farmers for prices in K.F.C. stores. If Ontario chicken producers gave their chickens away for abso­ lutely nothing, and the processing plants charged nothing to process them, a small box of Kentucky Fried chicken would still cost con­ sumers $8.00 which is $2.00 more than the U.S. price. In 1981 Ontario chicken produc­ ers were paid $1.10 per kilogram for their chicken. Today, a decade later, they are receiving $1.11 cents - only one penny more, and yet, Lhc public still thinks the farmers are to blame for the higher prices. The price of a bucket of chicken is a lot higher in Canada than the United States, but marketing boards are not the reason. The Ontario Chicken Producers' Marketing Board regrets that Kentucky Fried chicken has suggested otherwise. Roy Maxwell, Board Communications The Ontario Chicken Producers' Marketing Board. an average of $86.15 to the high of $88.75. Six heifers consigned by Terry McCarthy, Dublin averaging 1273 lbs. sold for an average of $87.80 to the high of $88.30. Six heifers consigned by Mcrv Mc­ Pherson, Orangeville averaging 1115 lbs. sold for an average of $87.40 to the high of $89. Four heifers consigned by Ross Corbett, Exeter averaging 1050 lbs. sold for an average of $85.90 to the high of $86.80. Fourteen heifers consigned by Doug Simpson, Orton averaging 1129 lbs. sold for an average of $85.65 to the high of $86.75. Forty- two heifers consigned by Melvin Bearinger, Mount Forest averaging 1113 lbs. sold for an average of $85.35 to the high of $90. Four heifers consigned by Brad Marlin, Drayton averaging 1055 lbs. sold for an average of $85.30 to the high of $87. Four heifers consigned by Ken Kraemer, Walkerton averaging 1163 lbs. sold for an average of $84.70 to the high of $88.75. There were 285 cows on offer selling from $51 to $60 to the high of $68. One cow consigned by John McKee, Listowcl weighed 1400 lbs. and sold for $68. One cow con­ signed by Ronald Mcnary, Luc­ know weighed 1470 lbs. and sold for $65.75. Five cows consigned by Carl Hinz, Monkton averaging 1568 lbs. sold for an average of $61.10 to the high of $62.75. Two cows consigned by Peter Ncwans, Mildmay averaging 1425 lbs. sold for an average of $60.20 to the high of $65. There were 240 veal on offer selling from $68 to $90.50 to the high of $113. Three veal consigned by Wayne Brown, Monkion aver­ aging 490 lbs. sold for an average of $91.85 to the high of $94. Two veal consigned by Wayne Brillinger, Ayton averaging 640 lbs. sold for an average of $90.75 to the high of $96.50. Five veal consigned by Bob Spence, St. Marys, averaging 592 lbs. sold for an average of $90.35 to the high of $97.50. There were 259 pigs on offer with 85 paper pigs. Pigs 20 to 30 lb. sold to a high of 90 cents per lb.; 30 to 40 lbs. to a high of 78 cents per lb.; 40 to 50 lb. to a high of 75 cents per lb.; 50 to 60 lb. to a high of 82 cents per lb.; over 60 lbs. to a high of 72 cents per lb. FIRST LINE SOYBEANS A.C. BRAVOR 3 Year Ave. 12 Trials Yield Index 110 Call John A. Van Beers R.R. #1 Blyth 523-4431 BRUSSELS LIVESTOCK Division of Gamble & Rogers Ltd. UPCOMING SALES _____________________________ TUESDAYS THURSDAYS FRIDAYS 10 a.m. Slaughter Cattle & Cows Veal, Goats, Sheep & Lambs Stockers Pigs 11 11 1 a.m. a.m. p.m. BRUSSELS 887-6461 "CHICK DAYS" Early Date Order by April 15/92 Delivery May 8/92 Late Date Order by May 15/92 Delivery June 5/92 Ducks & Geese - June 5 Only Turkeys available both dates Mixed meat chicks strong legs, excellent livability DAUPHIN FEED & SUPPLY "Partners In Performance" DUNGANNON WALTON 529-7951 529-3133 887-6023 1-800-665-5675