Farm Credit funds drain away amid looming bailout risk
The GAO warns the $64 billion Farm Credit System could exhaust reserve funds by early 1987, risking a federal bailout as losses mount. Reported by the GAO and cited in testimony by Rep. Ed Jones and William Anderson, the system faces rising loan losses, high debt costs, and a shrinking loan base.
MENTIONED IN THIS ARTICLE
Gazette
Washington
General Accounting Office
GAO
Congress
Ed Jones
D-Tenn
House Agriculture
William Anderson
Anderson
Cooperative Producer-Owned
Farm Credit
H. Brent Beesley
Farm Credit System
Caterpillar postpones rubber-tracked Challenger tractor launch
Caterpillar Inc plans to delay the rubber-tracked Challenger farm tractor debut until 1987 after extended testing. Production is not set, with work centered at the Davenport plant and ongoing design changes cited by company and industry observers amid a weak farm market.
MENTIONED IN THIS ARTICLE
Peoria
Brian Gareau
Manfredi
Starmont and Garnaville FFAs win at Waterloo
At the National Cattle Congress in Waterloo the Starmont and Garnaville FFA chapters placed first in milk quality and dairy foods and in dairy cattle judging respectively. They will represent the state at the National FFA Convention in Kansas City in November. Garnavillo team members were Jason Grave Dan Harbaugh and Troy Kruse with instructor Edmund Ruff III. The Stormont team included Sue Borcherding Chris Breitsprecher and Scott Pottebaum with instructor Dennis Miller.
MENTIONED IN THIS ARTICLE
Waterloo
Starmont
Future Farmers of America
Strawberry Point
Garnaville
FFA
National Cattle Congress
Garnavillo
Kansas City
Jason Grave
Dan Harbaugh
Troy Kruse
Edmund Ruff III
Stormont
Sue Borcherding
Chris Breitsprecher
Scott Pottebaum
Dennis Miller
IBP hazy on opening date for Columbus Junction hog plant
IBP Inc remains vague about when its Columbus Junction hog slaughterhouse will open. Mayor Don Orr heard a tentative date of Thursday, but IBP later signaled a date before September end. A test kill may occur soon as workers begin being brought in, with an eventual workforce up to 1,000.
MENTIONED IN THIS ARTICLE
IBP
Columbus Junction
IBP Inc
Don Orr
Gene Ambroson
Ambroson
Dakota City
Neb
NaChurs Of Marion Shifts To Offensive Growth Plan
NaChurs a Marion Ohio farm chemical firm long defending market share in a five year farm recession announces an offensive strategy. President John Kelly, 45, says the company will hire 25 new sales managers nationwide, hold a conference in Cedar Rapids, and expand its fertilizer services including precision placement and foliar applications while financing 25 agronomy research projects.
MENTIONED IN THIS ARTICLE
NaChurs
Marion
Ohio
John Kelly
Kelly
Cedar Rapids
Iowa
Minnesota
Sheraton Inn
NaChur
Larry Stoltenberg
Iowa State University
New Jersey
Rutgers
Hogs and Livestock Prices Hold Steady in Midwest Markets
Market report shows hogs steady to lower with midweek runs light in southern Minnesota and Omaha. Cattle and calves lift 50, while Holstein and steer categories edge higher amid mixed butcher demand and pricing. Grain futures and soybeans quoted by Iowa and Nebraska elevators reflect mixed to higher tones as regional buyers adjust bids.
MENTIONED IN THIS ARTICLE
Minnesota
Aioe
S.centrai
Wosmensennanne
Southeas
Omaha
Also Mentioned on This Page
David Lynch
Senate Agriculture Committee
Frank Naylor
The
Farm Credit Administration
Joe Rush
Rome
Isabel
Joe
Coosa Valley
Caterpillar
Everett
Bud” Hopping
United Auto Workers Local 215
Hopping
Chuck Yengst
Yengst Associates
Los Altos
Calif
Ffas
C.R. Grain
Midwest Markets
Rebr Vew
Fairfax Fairfax Sheep Company
Sering Ams
Feuss Ison
Des Moines
Oo Het
Manchester
KORN
Ang
Tue
Chicago
Sioux City
Joliet
U.S
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