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billion, up by almost two, percent from last year’s $1.61 billion. Mr. Carbaugh noted that if this projection is realized, it would be the first time since 1984 that total input costs were higher than that of the previous year.
With a return to normal yields, Virginia crop production in 1988 is expected to increase markedly above drought-reduced levels of 1987. Soybean production is expected to increase by 47 percent, com up 98 percent, peanuts up 10 percent, and tobacco up 12 percent.
Generally, lower stocks of crop commodities nationally and in-state will combine with higher prices and less restrictive government programs to boost planted acres of most crops this year.
Livestock projections are varied. Reduced supplies of cattle and beef will support higher prices in 1988, according to the forecast. Higher prices for both slaughter and feeder animals are expected to encourage a rebuilding phase as Virginia cow and calf producers retain breeding cattle during the remainder of the year. However, with reduced Jan. 1 inventories, cat' ’ marketings are projected to decl i 20 percent.
Strong rebuilding of breeding hog inventories in Virginia during 1987 will push hog production higher this year, to 176 million pounds. Lower prices and higher feed costs in 1988 will limit further gains in breeding stock inventories.
Strong production expansion in broilers and turkeys the past few years has resulted in much lower price projections for 1988. Broiler production is projected to reach 736 million pounds in 1988, up from 708 million last year. Turkey prices are expected to fall somewhat and cause a small reduction in output to 297 million pounds.
95.6%