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HomeMy WebLinkAboutClinton News-Record, 1985-3-20, Page 76DIRECTOR/ADJUSTER Lorne Robinson, RR. 2, Kincardine John Clancy, R.R. 1. Chepstow. ........ Len Metcalfe, Mildmay Jack Cumming, R.R. 2, Dobbinton . .. Charles Kelly, Port Elgin . Ron Lipsett, R. R. 1, Annan All claims should be reported promptly to the representative in your area or to the Head Office in Formosa 396-8045 . 881-2075• ......... 367-2791. 353-5556 832-9334 376-6722 1-80x265-3020 Current: . Cash . Supplies . Crops - Cash Feed livestock held Fixed: .Breeding Stock . Car . Machinery . land . Buildings TOTAL Balance Sheet Assets $ 640 2,000 4,250 8,200 12,400 18,675 1,500 11,200 68,500. 49,000 (2) of FarmerA January 1, 19— $ 27,490 148,875 $176,365 1UA - NEI WORTH Current: Account Payable Notes Payable Fixed: F.l. L Mortgage to: Farm Credit J. A. Roberts $ 4,600 10,000 10.000 33,200 10,000 $ 14,600 53,200 Net Worth 108,565 'DOTAL $176,365 Bank sees improvement from page 16a the prairies from an average $122.50 per tonne (up 16 per cent CWT over the previous year) down to world levels. --This crop year, favourable weather resulted in a 19 per cent increase in Eastern corn production, and prices are expected to be m the $140 - $150 tonne range down 12 per cent from year ago levels.'This spring we expect a slight decline in Dom plantings and foresee corn prices for the new crop remaining within the current range. --Despite the global oilseed market, demand for oil rich rape seed continues strong, with prices only 6 per cent under last year. --Balancing negative global price factors, price premiums for rape seed (canola) over alternative crops, and normal weather, Canadian rape seed production of 3.5 million tonnes is expected next year, up 9 per cent over 1984-85 production (which was up 23 per cent over 1982-83). --In Fastem Canada a small increase in soybean production is expected over the record 1984-85 crop of 1 million tonnes. Prices will remain in the same $280 to $300 tonne range as this year. --A declining U.S. herd (for the third year in a row) and some improvement in industry profits will cause nongrain - fed cattle slaughter to decline during the second half of 1985 as total U.S. cattle slaughter is expected to be down 3 per cent and prices up 6 per cent over the second half of 1984. --With U.S. cattle slaughter expected to be down 6 per cent in second quarter 1985 from second quarter 1984, choice steers at Omaha should average $70 CWT, making this the high price quarter of the year. --Cow prices are expected to advance 12 per cent from 1984 levels in the third and fourth quarters, signalling a modest rebuilding phase for 1986 with beef prices moving higher. --With the lower Canadian cattle herd, estimated after four years of declining inven- tories, at 11 million head as of January 1 (lowest since 1962), slaughter in Canada is expected to be 3.1 million head in 1985, 4 per cent below 1984. With lower production in the U.S. and Canada, Al and A2 steers in Toronto should ink average in the mid to upper $80's CWT in the MI first quarter, rising above $90 CWT in the second, and ease in the second half with increased competition from pork and poultry. U.S. hog prices are expected. to hold above $50 CWT in the fust half of 1985, weaken in the second half with fourth quarter prices in the upper $40 CWT range. Market hogs at Omaha are expected to average in the upper U.S. $40's in 1986. --The dairy industry will see cream and milk shipments grow by 1.5 per cent over the previous year to 73.9 million hectolitres, with shipments in 1985-86 up only fractionally. Milk returns are expected to be up 3.6 per cent for fluid shipments and 4.5 per cent for industrial, though near term advances will be limited by slow advances in consumption and by low feed costs lowering price under the cost of production formula. --Broiler chicken production should reach 872 million pounds, a 6.4 per cent year to year increase, while consumption continues rising to 930 million pounds, up 2.6 per cent from the previous year. Lower feed costs combined with a 3.8 per cent increase in the production quota should promote increased turkey featuring. , --With continuing sluggish demand, the Canadian Egg Marketing Agency has little incentive to increase quota levels; lower feed • costs are expected to trigger a 2.2 per cent producer price decline under the cost of production formula. Expenses . for seed and chemicals are expected to rise from both price and applica- tion increases. Fertilizer use should rise with increased planted acreage, but prices are expected to remain at 1984 levels. Create sanctuary... from page la work" because of the different diseases the hog farmer has to contend with and the constant fluctuation of the hog market. Burgsrna says he would like to see the farm remain in the family with his five sons eventually taking over, but only if they were happy being a farmer. His desire is for his sons to have the same opportunities he had, to do what they want. With the constant expansion of his farm operation, Burgsma finds additional manage- ment is required in order to keep the operation running smoothly. He says he enjoys managing his farms, especially his association with the people hired to run his farms and keeping an eye on the maintenance of the farts. The secret to a smooth running farm operation says Burgsma is to anticipate problems and act promptly to correct them 1' # ; 'We*t .r li.0001" ZA. *?85 » 1111