HomeMy WebLinkAboutThe Huron Expositor, 1987-07-15, Page 15•
ILL
Role broadened for farm loans act
Substantial changes to expand the role of agriculture, greater emphasis must be plac-'
the -Farm Improvement Loans Act (FILA) ed -on marketing as a means of securing
in farm credit are proposer' in Bill C-70, in- long-term health for the farm industry, Mr.
• troduced in the House of Commons by • Wise said. ••
•
Agriculture. Minister John Wise. "Farmers should be encouraged to try
"The intention of this legislation is to new approaches, to produce new crops and '
• broaden the scope of FILA, and to make it a to use creativity in processing and
more flexible and accessible lanai credit marketing those crops."• •
tool," said Mr. Wise.. To re.flect this, expansion in the scope of
Currently, FILA authorizes the Minister the program, the Act will be changed to the
• of Agriculture to guarantee term loans Farm Improvement and Marketing Co,
made to farmers by chartered banks, Alber- • operatives Loans Act.
ta Treasury branches and other designated Other proposed changes respond to the
lenders. The-qtaximum-rate-that-can-beinancial-needs-of-favmem-by-making-the
charged is prime phis one per cent. Loans program more flexible.
can be used for buying machinery, im- The Bill proposes to increase the borrow-
• .plernents, livestock and additional land, or ingtimit from $100,000 to $250,000 in recogni-
for major repairs to equipment or buildings. ton of today's farm machinery and equip -
A key provision of Bill C-78 will allow ment costs.
guarantees on loans made to. co-operatives It proposes to extend the definition of a
set up by farmers to process, market and • farmer to include producers who have of f -
distribute their commodities. The intention farm employment., This recognizes the
of the provision is to assist and encourage financial circumstances facing many of to -
diversification and marketing ingenuity in day's farmers who have sought off -farm
the•farm sector. • jobs in order to keep their operations viable.
During these difficult times in .A refinancing option included in the Bill
Fat cattle trade
The market at Brussels Stockyards saw
• the fat cattle trade on a good demand at
prices $1 lower than last week's sale. A
large run of pigs sold easier. Cows sold
strong. There .were 613 cattle and 1035 pigs
on offer.
• Choice Steers - 91.00 - 95.00 with sales to
95.75
Good Steers - 87.00 - 91.00
Four Steers consigned by Mike Dalton of
R.R. No. 3, Goderich averaging 1163 lbs.
• sold for an average price of 92.36 with sales
to 95.00. `
A steer consigned by Jim Hayden of R.R.
No. 3, Goderich weighing 1120 lbs. sold, for
• 94.25.
New additions
made to OPIIP
The latest addition to the Ontario Pork In-
dustry Improvement Plan is the Herd
Health Improvement Grant.
• In general, this grant was introduced to
help hog producers offset the cost of
depopulation of their hog barns for health
• related reasons. Producers must buy
replacement stock from a breeder that is
participating in the Ontario Herd Health
, Policy and has a rating of good or excellent.
The grant on gilts and boars is for the initial
restocking and would not apply to replace-
ment stock bought in order to maintain the
,health status of the herd.
There are more specific guidelines
available from local OMAF offices. For pro-
ducers who already have -a closed herd and
are ranked good or excellent in the Ontario
Herd Health Policy (or producers who
establish a closed herd of good or excellent
health status), grant money is available to
offset the cost of caesarian sections or donor
sows used for embryo transfer for either the
establishment or maintenance of their
health status. It is recommended interested
producers contact either their local Pork
Advisor or one of the O.P.I.I.P.
veterinarians working out of the Animal In-
dustry Branch of OMAF at the University of
Guelph (824-4120, Extension 4805) before
-proceeding with any depopulation.
HAPPY ANNIVERSARY
Eric & Arlene McIntosh
LT. •L
aurie, Lana, Janice
HAPPY 27th COOP
(Brian Cooper) - July 15
Froth Coop, C000, Beak
WINTHROP SUPER
'MONTHLY DRAW
• July Winners
ist PRIZE - TOURING BIKES:
Jay Rizsi* - 54a -forth
2nd PRIZE S25.: Ostel Hoggitt
-
-CHICKEN
kininirts Forrettert
Alig(10. 9. Winthrop BaU Fidek
-Adult* $6.00 -ChildrOil '4.00
44 040. '
Fen' tickets caft 527.0918,
527-1247, 521-1857
at lower prices
Choice Exotic Heifers - 90.00 to 94.00 with
one package of 14 charolais heifers selling at
. 95.10.
Good Heifers - 86,00 - 90.00 ,
-
A Heifer consigned by J & M Ranch of
Brussels weighing 1000 lbs. sold. for 96.25,
with their total offering .of nine heifers
averaging 993 lbs. selling for an overall
price of 90.49.
Two Heifers consigned by George Blake of
R.R. No. 2 Brussels, averaging 990 lbs. sold
for 92.85. -•
Choice Cows - 62.00 to 67.00 .
Good Cows - 58.00. to 62.00 , '
Canners and Cutters - 55.00 to 58.00
20 to 30 lb. pigs traded. to a high, of 1.19 •
30 to 40 lb. pigs traded to a high 6E1.25
40 to 50 lb. pigs traded to a high of 1.07
50 to 60 Ib. pigs traded to a high of .90
60 to 70 lb. pigs traded to a high of .90 -
over 70 lb. pigs traded to a high of .80.
Brussels Stockyards will be holding
another sheep and lamb and veal and goat
sale on Friday; AuguSt 7. To consign
livestock to this sale, phone 887-646r. •
would allow farmers to consolidate their
loans. Where the refinanced loan extends
the average term of the original leans, the .
total annual payments will be smaller, thus
increasing the farmer's cash flew.
• The • refinancing option also allows
farmers to benefit • from temporary low-
interest or interest-free provisions when
buying farm machinery. When the low-
interest or interest-free term expires, they
canrefinance with a guaranteed loan at the
favorable interest rate of prime plus one per
cent,
"I am confident-that'all of these amend--
•
ments will give more farmers an opportuni-
ty to .secure loan capital in a way that suits
their needs," said Mr. Wise,
Bill C-78 also proposes a minimal user
fee of one-half of one per cent. The princi-
ple of a user fee is being widely applied to
the delivery of government services, and
small businesses are alreadypaying a fee
for loans guaranteed under. the Small
Business Loans Act.
In recognition. of the financial difficulties
many farmers are experiencing today, the
fee is based, noton the higher losses cur-
rently occurring under the FILA program, •
but.. on the lower losses expected in the
-longer term as the farm financial situation
imProves.
Bill C-78 also proposes sharing of the risk
with lending . Institutions Currently,. the
federal government guarantees 100 per cent
of a loan under FILA. The Bill proposes that
lending institutions be responsible for five
per cent of the loss on any loan.
Lenders have been sharing the losses on
loans to small businesses since April, 1985.
"It is appropriate that, where lenders are
provided with loan guarantees, they should
share at least a small part of the risk," said
Mr. Wise. •
The legislation is the result' of an exten-
sive review undertaken by Agriculture
Canada, and consultations with the farm
community.
"FILA has existed for more than 40 .years
and it has been a very useful tool for
farmers, but times have changed,"said.Mr.
Wise, "This government recognized the
need to take a thoughtful, thorough look at
the program. Having done this, we are now
taking the initiative to make the changes
needed to better serve the farm
community."
THE HURON EXPOSITOR, JULY 15, 1987 - 15A
VI
Lau
WEVeriS
DISC JOCKEY SERVICE
Country Gold &
Rock Roll -
DIST:0 PRIMAS WA1I2ES NEW LAZER MSC MUSIC GOOD RECORDED
MUSIC FOR WEDDINGS, DANCES ANNIVERSARIES, PAIlliES ETC
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Happy 40th Birthday
• VERNE
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• July 19th, 1987
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NOW OPEN SUNDAYS
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CHECK OUR SUNDAY SUPPER SPECIALS
OPEN: Alilop- Sat,: 6 arn-to 7 -pm: Sunday. 7 .44m to 8-'m ;
GINETTES RESTAURANT
90 MAIN ST. S. ' SEAFORTH 527-1964
•
THE SQUARE
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STARTS
FRIDAY
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7:30 •
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QUEEN'S
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Thurs., Fri., Sat,
"BARRACUDA"
Coming Thurs., July 30
GIRL'S NITE OUT
• BUCK and DOE for
Linda Blake
' and
Raj Hathiramani
FRIDAY, JULY 24
In Brussels
• D.J.
Dancing 9.1 Lunch Provided
Information 887-6828
• Brodhagen Chamber
of Commerce
CHICKEN
BARBECUE
held at the
Brodhagen
Community Centre
WED., JULY 22
5 p.m. - 8 p.m.
Adults $6.50
Children $3.00
SOUTH PERTH FASTBALL
LEAGUE ALL-STAR GAME
AT 8:00 P.M.
• ENGAGEMENT
re';
*TLT
SHERRI IIACHERT & PHILLIP McKINLEY
Mr. 8. Mrs. Keith Bachert, Walton, are
pleased to announce the engagement of
their daughter, Sherri Lynette. to' Mr.
Philip James McKinley, son of Mr, & Mrs.
Gln
ooTge-l-McK1 n I er-Dungannon-N •
ir
The ceremony will take place in the will
of the lord, at 2:30 p.m. Aug. 1, 1987 In
the Clinton Town Hall Auditorium.
Stag & Doe
• for
DAVE BINNENDYK
AND
MIMMA PALAllOLO
Friday, July 17, 1987
• 527-0416 •I
BUCK & DOE
For
ANNE MARIE KELLY
and
STEVE NICHOLSON
• on July 18, 1987
from 8 P.M. - 1 A.M.
at DUBLIN PAVILLION
- Lunch Provided -
for more information
call: 345-2197
or 347-2414
41141144440000410.111461444GI
BROWNIE'S DRIVE-IN
169 BEECH 87., CLINTON 482-7030 e
OPFN AT a: '0 P.M. • FIRST SHOW AT DUSK
4pPc1P01. e THIS WEEKEND: FRI.-SAT..SUN., JULY 17-18491
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WAIWTING: Oftegie ;watering, f.b.o.
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• Party With
DOUG & THE SLUGS
and
BUSTIN LOOSE
Friday, July 31st ...... 8 p.m. - 1 a.m.
at Seaforth & District Community Centre
Tickets: $8.00 Advance
• $10.00' At Door
Tickets Available at Seaforth Areha
AGE OF MAJORITY ABSOLUTELY NO MINORS
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*Proceeds to Junior Curling