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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 13, 1980
Page
20
USDA figures show net farm income in the second quarter at 20.2 billion dollars, a more than 40 percent fall from 1979. Analysts warn inflation and rising costs will keep income below 1979 levels with 1980 projected around 25 billion, despite some sector variation.
The Agriculture Department cut the annual rate on 1980 price support loans to 11.5 percent from 13 percent effective immediately. The move broadens reductions across USDA programs as lawmakers pressed for cheaper government borrowing costs.
Iowa State University economist Robert Wisner says corn prices likely stay steady for several weeks despite rains improving yields. He expects prices to rise by early July if Midwest weather worsens or Russia and China turn bearish, then ease by mid July as the U.S. crop looks good. Soybeans may fall sooner, helped by a large Brazilian crop, while global rains and the grain reserve limit sharp late summer drops. Weather in Russia and China tops foreign influences, with Russia’s late plantings and favorable soil moisture, and China’s delaying wheat harvest shaping near term prices. President Carter’s embargo on exports to Russia also weighs on the grain outlook.
U S milk output reached about 11.6 billion pounds in May, up 3 percent from a year earlier, with the first five months totaling 53.6 billion pounds, a 4 percent rise. Production per cow averaged 1,075 pounds, 31 pounds above last year and 43 pounds higher than two years ago.
The description states a truss resting on a double 2 x 6 plate line supported by a 40 bearing block. It describes a full 3% thick framework applied to siding doors.
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