Table 13. Implications of the 1996 Farm Bill and the November 1997 FAPRI Baseline on the
Economic Viability of Representative Farms Primarily Producing Hogs
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                     MOH100    MOH225    ILH200    ILH750    INH150    INH600    NCH350    NCH13268
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Change in Real Net Worth
(%) Over 1997-2002    14.22     31.56     42.21     55.74      8.02     31.70     39.75    110.20

Govt Payments/Receipts (%)
  1997-2002            2.50      2.32      3.46      1.79      3.87      2.87      0.00      0.00

Cost to Receipts Ratio (%)
  1997-2002           78.48     69.90     66.50     60.38     85.67     79.21     70.61     74.86

Total Cash Receipts ($1000)
             1996    261.98    674.87    763.50   2405.90    606.63   2226.43    949.56  35086.27
             1997    254.20    646.72    743.95   2409.02    595.00   2162.28    924.33  34128.49
             1998    233.10    586.53    696.68   2187.11    553.66   1983.53    829.97  30618.11
             1999    223.54    560.30    671.96   2081.49    538.79   1913.47    785.55  28957.36
             2000    234.92    587.00    704.47   2177.73    559.67   1998.02    825.79  30452.05
             2001    244.99    611.99    725.65   2270.74    575.80   2069.15    867.67  31942.36
             2002    228.39    573.30    701.68   2123.11    560.46   1977.43    803.21  29596.16
1997-2002 Average    236.52    594.31    707.40   2208.20    563.90   2017.31    839.42  30949.09

Contract Payments ($1000)
             1996      4.23      9.33     15.30     25.38     14.67     38.00      0.00      0.00
             1997      4.80     10.59     17.13     28.41     16.44     42.59      0.00      0.00
             1998      6.04     13.26     22.91     38.07     21.90     56.69      0.00      0.00
             1999      5.86     12.88     22.27     37.01     21.29     55.10      0.00      0.00
             2000      5.35     11.74     20.37     33.84     19.46     50.37      0.00      0.00
             2001      4.34      9.52     16.55     27.50     15.81     40.92      0.00      0.00
             2002      4.19      9.20     15.91     26.43     15.20     39.35      0.00      0.00
1997-2002 Average      5.10     11.20     19.19     31.88     18.35     47.50      0.00      0.00

Net Cash Farm Income ($1000)
             1996     76.43    245.02    298.01   1041.79    149.96    628.66    320.35  10914.31
             1997     56.27    201.69    258.69    942.08    114.73    502.15    291.48   9980.53
             1998     48.06    167.26    232.99    842.01     91.04    419.07    240.87   7857.93
             1999     44.89    152.97    214.82    779.85     78.45    370.38    210.55   6545.34
             2000     56.17    185.34    250.05    894.76     93.05    452.68    252.04   7894.71
             2001     61.84    211.21    268.49    986.61     99.75    511.91    287.90   9079.04
             2002     46.59    175.98    240.65    856.91     79.70    415.05    221.81   6430.69
1997-2002 Average     52.30    182.41    244.28    883.70     92.79    445.21    250.78   7964.71

Ending Cash Reserves ($1000)
             1996     17.16     89.07    121.05    481.90     38.23    243.88    128.87   6246.10
             1997     21.56    134.97    203.48    873.62     26.86    360.18    238.25  11918.90
             1998     19.17    151.45    262.71   1177.68     -1.75    408.45    320.02  16515.94
             1999     13.33    153.86    293.63   1348.99    -65.55    408.15    392.80  20537.35
             2000     22.27    202.48    364.80   1445.01    -94.48    527.06    491.85  25502.53
             2001     36.06    257.29    420.38   1488.40   -140.89    660.30    603.20  31303.14
             2002     33.51    294.54    448.05   1490.63   -204.34    724.89    658.33  35559.38
1997-2002 Average     24.32    199.10    332.17   1304.06    -80.03    514.84    450.74  23556.21

Total Debt ($1000)
             1996    234.39    574.38    745.03   1773.41    592.93   1513.88    370.99      7.61
             1997    225.35    609.72    743.19   1724.00    642.25   1505.52    363.56     12.31
             1998    219.26    588.53    722.73   1672.41    679.95   1446.83    343.98      0.49
             1999    208.45    538.32    707.67   1518.38    724.20   1396.89    340.77      0.00
             2000    202.30    520.37    704.40   1225.87    773.54   1415.21    329.86      0.00
             2001    208.50    482.20    669.30    865.33    824.80   1359.76    301.87      0.00
             2002    200.40    430.71    669.60    584.02    840.47   1330.61    265.46      0.00
1997-2002 Average    210.71    528.31    702.81   1265.00    747.54   1409.14    324.25      2.13

Nominal Net Worth ($1000)
             1996    420.59   1039.80   1316.56   3469.80    954.35   2809.98    928.62  19069.78
             1997    455.82   1147.40   1498.25   4087.83   1024.04   3125.07   1045.38  24569.90
             1998    472.41   1218.39   1636.63   4531.43   1059.65   3333.78   1108.42  27960.19
             1999    495.19   1303.21   1785.54   5007.73   1105.15   3570.45   1185.13  31475.98
             2000    525.91   1411.28   1947.84   5529.55   1150.75   3858.13   1307.89  36985.19
             2001    563.22   1539.11   2111.62   6061.74   1198.61   4195.19   1469.36  43863.12
             2002    561.71   1599.58   2189.23   6318.52   1205.43   4327.40   1517.50  46871.05
1997-2002 Average    512.38   1369.83   1861.52   5256.13   1123.94   3735.00   1272.28  35287.57

Net Income Adjustment (NIA)
($1,000) Over 1997   -13.96    -92.64   -147.15   -601.18    -14.03   -244.87   -121.61  -6090.58

Net Income Adjustment (NIA)
(% of recpts) 1997    -5.90    -15.59    -20.88    -27.22     -2.49    -12.14    -14.49    -19.68
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