The pilot had flown the aircraft from his base to the property strip earlier in the morning. The aircraft was loaded with 375 kilograms of a pelletised material called "Grassland" for spreading. The performance of the aircraft up to this time had been normal. The pilot reported that the initial part of the takeoff run appeared normal. However, as the aircraft approached the end of the strip, he became aware that the airspeed was about 10 knots below the desired speed. The aircraft became airborne, struck some small trees, and continued to lose performance before coming to rest about one kilometre from the end of the strip. Examination of the aircraft determined that the engine compression was low and that one cylinder was cracked. No positive reason for a sudden reduction in performance on this takeoff was found. The pilot reported that he had not thought about dumping the load as he was busy flying the aircraft and trying to maintain control. The product was expensive and the pilot's actions indicated that he might have been concerned about the commercial implications of dumping the load.