Banner Graphic, Volume 18, Number 291, Greencastle, Putnam County, 17 August 1988 — Page 5

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A $3-per-pound hog was shown by David Sinclair, son of Jerry and Bev Sinclair, rural Cloverdale, at the recent Putnam County Fair. The hog was then sold at the livestock auction, bringing the $3 bid from Cloverdale area supporters, including Walter Frye (left), president of

; Market I reports : INDIANAPOLIS (AP) •Hogs 500. Barrows and gilts 'steady. US 1-3 225-255 lbs 48.00-48.50. US 3-4 275 lbs at 46.00. Sows: Under 600 lbs steady to 50 cents lower, over 600 lbs 1.00 higher. US 1-3 445-545 lbs 32.00-33.50; 710 lbs at 35.00. Boars: Over 400 lbs 32.00. Cattle: 800. Slaughter steers and heifers 50 cents to 75 cents higher. Slaughter cows 1.001.50 higher. Slaughter bulls 50 ' cents to 75 cents higher. Supply: select and choice slaughter steers 35 percent heifers, 12 per- ’ cent cows. Slaughter steers: Choice •with few prime 2-4 1025-1250 lbs 67.50-69.50; 910-970 lbs 66.00-67.50. Holsteins: choice 2-3 1275 lbs 63.75. Slaughter heifers: Choice with few prime 2-4 900-1200 lbs 65.50- 885 lbs 66.50. Slaughter cows: Breaking and boning utility with few commercial 2-4 47.50-52.00. High dressing 52.25-53.00. Low dressing 42.50-45.00. Cutter 1-2 45.50- Few canner 43.2544.75. Slaughter bulls: Yield grade 1 1600-2635 lbs 60.25-64.50. Yield grade 2 1205 lbs 58.00. INDIANAPOLIS (AP) - ndiana direct hog market at 70 yards and markets Tuesday. Barrows and gilts mostly steady, demand good. US 1-2 220-250 lbs 46.00-47.50; 210-220 lbs 44.25-46.00. US 1-3 220-260 lbs 44.50Sows: Steady. US 1-3 300500 lbs 30.00-34.00, mostly 32.00-34.00; 500-650 lbs 29.0032.00, few to 33.00. INDIANAPOLIS (AP) Estimated prices Tuesday at Indianapolis area elevators: Corn No. 2 yellow: $2.772.85, new $2.69-2.91, January $2.81-3.01. Oats No. 1 sound: $3.20. Soybeans No. 1 yellow: $8.52-8.65, new also $8.52-8.65, January $8.58-8.72. Wheat No. 2 soft red: $3.553.62.

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Cloverdale National Bank, Ginny Atwell, Cloverdale IGA manager, and Norv Gottula, of the Cloverdale Ag-center. Putnam County Fair Queen Angela Staley looks on after the sale. (Banner-Graphic photo by Gary Goodman).

Rain helps, but moisture levels remaining short

WEST LAFAYETTE (AP) Indiana’s com condition continues to improve and is currently rated 7 percent good, 48 percent fair, 32 percent poor and 13 percent very poor, according to the weekly Purdue University crop-weather report. The 45 percent poor and very poor rating compares with 57 percent last week. THE REPORT FROM Purdue also said scattered showers last week brought slight improvement to crop and pasture conditions in Indiana, but soil moisture levels are still short. Topsoil moisture is 65 percent short and 35 percent adequate, and subsoil moisture is 91 percent short and 9 percent adequate. Seventy percent of the com crop has reached dough stage, which is on par with the average but 12 days behind the 96 percent in dough last year. TEN PERCENT OF the com has dented, compared with 57 percent a year earlier and the five-year average of 18 percent. Farmers are still concerned about ear size and kernel formation for this year’s crop. Soybean condition was rated 15 percent good, 59 percent fair, 24 percent poor and 2 percent very poor. The 15 percent good or better rating compares with 21 percent last week and 76 percent a year earlier.

Forecasts faster on latest weather NEW YORK (AP) A new computerized weather system can digest over 5 million bits of information a second and is making it easier for meteorologists to provide fast forecasts that used to take hours to prepare. The system, developed by Harris Corp., acts as the forecaster’s researcher. It constantly monitors weather conditions and flags significant changes that could spell fair weather or disaster. A Florida meteorologist, for example, can program it to alert him to frost conditions during the orange growing season. In Boston, it could sound an alarm at the earliest indications of fog.

However, the 26 percent poor and very poor rating declined from 32 percent last week. SOYBEANS ARE 98 percent in bloom, which compares with 99 percent last year. The average is 97 percent. Seventy-one percent of the soybeans are setting pods, which is eleven days behind last year’s 89 percent but on par with the fiveyear average of 70 percent. Spider mites and removal of weeds continue to be problems in many soybean fields throughout the state. Plowing of land for the 1989 wheat crop is approximately 10 percent complete, slightly behind last year and the average. The second cutting of alfalfa is 98 percent complete, the same as the average. Virtually all of last year’s second cutting was complete by this date. PASTURE CONDITION continued to show improvement with a rating of 6 percent good, 43 percent fair, 40 percent poor and 11 percent very poor. The availability of hay and roughage supplies for the remainder of the feeding season was rated 7 percent very short, 57 percent short and 36 percent adequate. The availability of water for livestock was rated 6 percent very short, 21 percent short and 73 percent adequate.

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Farmland prices will rebound, new Midwest survey indicates

By The Associated Press The Midwest drought may have only a minor impact on the price of good farmland even though it causes significant crop losses, a University of Illinois economist says. John Scott, an agricultural land economist, said he polled more than 400 professional farmland appraisers in Illinois, lowa, Indiana and Ohio, asking them what effect the drought would have on farmland prices. ‘THE CONSENSUS that emerged from the responses was that if the drought has any impact at all it will only last one year, and might represent a short decline in land values,” Scott said. The value of prime farmland fell shaiply during the first half of this decade, but Scott said appraisers indicated a rally in the past 18 months. Asked if the prospect of low com and soybean production because of the drought could stop that rally, the appraisers answered that any halt would be a brief one. “These appraisers expect any

Drought’s effects seen on farm machinery

WASHINGTON (AP) The drought has brought mixed results to farm machinery sales this year, although preliminary readings by the Agriculture Department show that crop expansion plans for 1989 could have some effect. SPENDING ON farm machinery rose in 1987 after seven years of decline to $5.77 billion from $4.61 billion in 1986, according to a report by the department’s Economic

White Fringe Beetle sighted in California SAN BERNARDINO, Calif. (AP) Pesticide spraying has been ordered for 600 acres following discovery of the crop-eating White Fringe Beetle, the first reported sighting of the pest in California, officials said. The beetle, which poses no danger to humans, was spotted by a homeowner in the Chino area three weeks ago, said John Gardner, deputy commission for Department of Agriculture. State agricultural officials determined last week that the bug was the White Fringe Beetle, which eats 300 varieties of crops and plants, he said. The beetle, which is common to Australia, New Zealand and Argentina, has a preference for alfalfa and peas, he said. Ground spraying of lawns and shrubs in a 600-acre area south of Chino was to begin Tuesday.

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loss to be made up by a rebound with a good crop in 1989, and then land prices will move to higher levels in coming years,” Scott said. IN ADDITION, HE said, stronger commodity prices resulting from the short crops and the reduction of the grain surplus will help the land market rally again. Scott also pointed out that some economists expect interest rates to decline in the next few years and that, too, “would tend to support stronger land prices.” A temporary slump in land prices might tempt farmers to invest in

Research Service. Currently, largely because of brisk sales early in the year, the agency forecasts 1988 machinery expenditures may range from $5.7 billion to $6.2 billion. “The farm machinery industry will be hurt if farmers with reduced cash receipts put off buying new equipment,” the report said. “Demand for harvesting, drying and storage

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August 17,1988 THE BANNERGRAPHIC

more land and expand their operations, but Scott urged caution. “ONLY WHEN A farmer is financially capable and can pencil out, through revenue projections, the ability to pay for the land, should the farmer consider buying it,” Scott said. He also said the next rally in land prices will be unlike the one in the 19705, which was fueled by inflation. During that rally, some fanners thought inflation would pay for the land, and they spent more on it that they ever could recover in earnings.

equipment is most likely to be affected.” HOWEVER, THE report added that the drought has prompted greater sales of irrigation equipment in some parts of the country. Farm machinery sales rose to a record of almost sl2 billion in 1979 before staring a 60 percent slide to $4.61 billion in 1986, reflecting the crunch on farm income, high interest rates and tight credit in the early 1980 s.

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