HIGH MEAT PRICES CAUSING GREAT
INTEREST IN FALL CATTLE SALES
One of the most anxiously
awaited .feeder cattle marketing
seasons in years will begin for
HOME ECHOES
? — Can white vegetables be
kept from yellowing during cook
ing? To keep vegetables such
as onions and cauliflower from
turning yellow during cooking,
add a tittle lemon juice or vine
gar to the cooking water. '1
? —- What is tho difference
in a sponge cake and a butter
cake? A sponge cake is made
without shortening. A butter
cake is made with butter, but
ter substitute or other shorten
ing.
North Carolina beefmen on Sept.
6. '
The state yearling steer sales
begin on the date at Canton
where 1,000 head are consign
ed. The feeder calf sales will
begin Sept. 16 with a sale at
Oxford where 1,000 ’head are
consigned, also.
A total of 22 feeder calf sales
and 11 yearling steer sales are
scheduled. Some 13,000 head
of yearlings and 24,700 head of
feeder calves are expected to
be sold.
Farmers will be happy to see
sale day arrive. They have lived
through a summer of the high
FARM CREDIT NEEDS SOARING;
TIPS GIVEN ON BORROWING
In 1906 an Orange County farm
er had to mortgage “his entire
wheat crop and a horse” to get
a $7.70 loan to buy fertilizer.
Some 60 years later Tar Heel
farmers are still having credit
problems. Their current prob
lems, however, are caused most
ly by the tight money market
and! the soaring credit needs in
agriculture.
The current agricultural debt
is approximately $55 billion, an
increase of $11 billion in the last
two years. The nation’s farmers
are expected to need another
$25 billion in credit by 1980.
“Credit is the key to the one
thing that most farmers want
to do — get bigger,” comment
ed Hugh Liner, an extension ec
onomist at North Carolina State
University.
In order to compete in today’s
agriculture most farmers are
having to expand their opera
tions. .Usually this extension rate
is faster than their ability to ac
cuimlate capital. Thus, the only
avenue to survival in the farm
ing business for these individ
uals is through the use of bor
rowed capital.
But while the demand for farm
credit is soaring, so is the de
mand for credit by other groups
in the economy. As a result, the
money market is tight, interest
rates are rising, and farmers are
finding themselves in strong
competition with other business
men and consumer groups.
Furthermore, Liner believes
that there is a tendency on the
part of lenders to make larger
loans, thus reducing the total
number of farmers for whom
money is available.
“If a farmer wanted to put
in a 50-sow hog operation a few
years ago, his lender would have
.probably have urged1 him to
start with 10 sows and grow
Into the business.
“Now, lenders seem to realize
the importance of establishing
an economical production unit
in the beginning.Thus, they are
more willing to finance the en
tire 50-sow unit.”
liner is also convinced that
the credit situation is going to
force fanners to do a better job
in the business aspects of farm;
ing. He offers the following sug
gestion before approaching a
lender for a farm lpan.
“Dp- your homework before
you approach your lender. Make
j" a list of all your assets and lia
bilities. Be able to show how
your net worth has changed ov
er the past few years.
“Determine your net farm in
come for the past few years.
This win permit the lender to
have a better understanding of
your risk bearing ability.
“Be able to show the lender
that thaborrowed money will' be
• spent in such a way that repay
: ment will be prompt.
“The farmer who has records
to show what he has done, and
what he is capable of doing with
; additional credit, is the farmer
' who is likely to get a loan in
' the future,” Liner concluded.
est cattle prices in years with
one thought in mind: “Will pric
es hold until fall sales begin?”
With sales still a few weeks
off, demand can’t be accurately
forecast. However, Sam Buch
anan, extension beef cattle spec
ialist at North Carolina State
University, makes the observa
tion that feeder prices should
bfe “pretty good if fed cattle
prices continue to hold up.”
(The specialist suggested1 that
cattlemen might be better off
concerning themselves with
weight and condition of their
calves from now until sales time.
“This is the best 'period for
creep feeding;” he said. “The
cows are dropping off in milk
production and the calves will
take more grain. I would sug
gest that farmers who are creep
feeding to continue it and those
that are not might want to con
sider it.”
The best ration for creep feed
ing is the simplest one — equal
parts whole oats and shelled
corn. “The calf will do his own
grinding,” Buchanan said.
The specialist added that it
was also an ideal time to cull
poor-doing brood cows. “Prices
are favorable,” he noted, “and
the market is the best place for
these cows that are not produc
ing big, fast-growing calves. It
would be better to get the cull
_
Family Affair
For 25 years the Luther Lock family of Wheatland, Wyoming,
has been crossing the nation to harvest food for millions of other
American families. Equipped with 10 “giant” combines and a
variety of trucks and trailers, the Locks custom harvest crops for
farmers from Texas to the Canadian border from May through
October; in just one day they are capable of harvesting enough
wheat to put bread on the tables of more than a million families.
The son, Norman, has been assisting in operation of the combine
fleet since he was seven years old, and Mrs. Lock directs food service
activities for a crew of 20 hungry men.
cows to market now rather than
wait until the heavy run of cat
tle begins in the fall.” ,
The 1969 feeder calf sales in
eastern North Carolina sched
ule: Sept 23, Clinton; Sept. 24,
Rich Square; Sept. 24, Elizabeth
City (night); Sept. 25, Rocky
Mount; Sept. 26, Goldsboro;
Sept. 23, Rocky Mount.
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