An applicator for applying dry fertilizer or livestock waste in the form of a slurry beneath the soil surface with minimum soil displacement includes a leading spring-cushioned, conical-shaped, wavy coulter angularly offset from the direction of travel which displaces soil laterally in forming a furrow adapted to receive fertilizer. The coulter is trailed by a single, or a pair of, rotary blade(s) which fill the furrow created by the conical-shaped, wavy coulter, covering the deposited fertilizer. A second embodiment includes a second wavy coulter disposed between the leading coulter and the trailing rotary blades for directing soil in a laterally opposed direction from the soil displaced by the leading coulter in forming a wider furrow. The single conical coulter and dual conical coulter embodiments are interchangeable in the applicator, and can be removed and replaced with a curved shank and sweep assembly to convert to sweep fertilizer application.