Appendix Table C10.  Implication of Continuing the Current Farm Program vs. the Freedom to Farm
                     Act (FTFA) and a 30% Normal Flex Option on Representative Farms in Texas S. P.
____________________________________________________________________________________________________
                    Texas S. P. Moderate Cotton Farm  Texas S. P. Large Cotton Farm
                    ________________________________  ______________________________
                    Baseline  FTFA      30% FLEX      Baseline  FTFA      30% FLEX
____________________________________________________________________________________________________

Average Change in Real Net Worth w/o Land
Inflation 1995-2003   -460.04   -471.98   -501.74       -231.38   -232.93   -262.71

Average Change in Real Net
Worth 1995-2003 (%)   -461.20   -474.72   -504.48       -232.42   -235.31   -265.10

Average Annual Net Cash Income ($1000)
               1995      4.63      4.63      4.63          3.75      3.75      3.75
               1996      2.93     16.05     -1.61         -1.94     35.38    -14.86
               1997     -0.63      3.22     -5.46        -11.31      0.75    -24.25
               1998     -4.56     -8.04     -9.92        -20.23    -34.66    -30.70
               1999     -5.60    -15.17    -10.98        -32.95    -46.86    -45.11
               2000     -9.22    -21.97    -15.61        -60.93    -80.42    -82.41
               2001    -24.86    -25.37    -29.45       -110.16    -99.76   -110.07
               2002    -25.78    -36.54    -32.63       -112.47   -132.46   -120.35
               2003    -31.96    -32.80    -36.18       -124.65   -117.57   -127.29
1996-2003 Average      -12.46    -15.08    -17.73        -59.33    -59.45    -69.38

Average Annual Govt. Payments ($1000)
               1995     17.27     17.27     17.27         48.57     48.57     48.57
               1996     21.63     29.65     17.85         61.00     83.38     50.38
               1997     24.74     26.21     21.33         69.09     73.69     59.96
               1998     31.89     28.14     29.45         88.88     79.12     81.96
               1999     34.39     26.67     30.60         95.83     75.00     85.12
               2000     34.06     22.08     28.51         94.57     62.09     79.50
               2001     21.12     18.00     16.30         59.18     50.62     46.03
               2002     26.05     16.90     19.43         72.93     47.53     54.82
               2003     20.78     16.90     15.84         58.10     47.53     44.30
1996-2003 Average       26.83     23.07     22.41         74.95     64.87     62.76

Average Annual Real Net Worth w/o
Land Inflation ($1,000)
               1995    143.11    143.11    143.11        560.97    560.97    560.97
               1996    107.50    119.52    103.34        488.43    521.02    476.58
               1997     71.96     86.98     63.66        418.20    460.36    395.31
               1998      0.00     46.26      0.00        336.43    356.82    315.18
               1999      0.00      0.00      0.00        257.44    264.50    227.56
               2000      0.00      0.00      0.00        152.73    150.90      0.00
               2001      0.00      0.00      0.00          0.00      0.00      0.00
               2002      0.00      0.00      0.00          0.00      0.00      0.00
               2003      0.00      0.00      0.00          0.00      0.00      0.00
1996-2003 Average     -167.76   -153.72   -199.49         36.55     47.38    -68.94

Average Annual Real Net Worth ($1000)
               1995    143.11    143.11    143.11        560.97    560.97    560.97
               1996    107.77    119.86    103.67        489.28    522.08    477.64
               1997     73.11     87.69     64.37        421.92    462.63    397.58
               1998      0.00     46.62      0.00        339.56    357.88    316.23
               1999      0.00      0.00      0.00        259.13    261.56    224.61
               2000      0.00      0.00      0.00        152.11    145.50      0.00
               2001      0.00      0.00      0.00          0.00      0.00      0.00
               2002      0.00      0.00      0.00          0.00      0.00      0.00
               2003      0.00      0.00      0.00          0.00      0.00      0.00
1996-2003 Average        0.00      0.00      0.00         36.65     43.68      0.00

NIA for Real Net Worth w/o Land Inflation 1996-2003
in Dollars ($1000)      63.36     64.14     67.93        126.27    126.35    139.17

NIA for Real Net Worth w/o Land Inflation 1996-2003
as % Receipts (%)       38.31     36.90     42.30         27.16     25.81     30.81

NIA for Total Real Net Worth 1996-2003
in Dollars ($1000)      63.69     64.92     68.72        127.42    128.90    141.78

NIA for Total Real Net Worth 1996-2003
as % Receipts (%)       38.51     37.35     42.80         27.41     26.33     31.39
____________________________________________________________________________________________________

Appendix Table C11.  Implication of Continuing the Current Farm Program vs. the Freedom to Farm
                     Act (FTFA) and a 30% Normal Flex Option on Representative Farms in Texas R. P.
____________________________________________________________________________________________________
                    Texas R. P. Moderate Cotton Farm  Texas R. P. Large Cotton Farm
                    ________________________________  ______________________________
                    Baseline  FTFA      30% FLEX      Baseline  FTFA      30% FLEX
____________________________________________________________________________________________________

Average Change in Real Net Worth w/o Land
Inflation 1995-2003    -52.79    -51.93    -65.62         -5.46     -5.27    -13.57

Average Change in Real Net
Worth 1995-2003 (%)    -53.36    -53.05    -66.70         -6.21     -6.85    -15.09

Average Annual Net Cash Income ($1000)
               1995     59.34     52.56     59.34         98.89     85.80     98.89
               1996     56.35     70.45     52.12         99.29    121.83     92.67
               1997     50.91     54.97     46.56         93.81     98.95     87.13
               1998     45.12     40.55     40.48         87.67     76.91     80.68
               1999     39.77     36.58     35.25         83.21     74.28     76.04
               2000     34.12     28.51     28.32         72.29     59.66     63.09
               2001     26.54     33.13     21.63         57.30     65.59     50.57
               2002     21.27     17.12     13.67         43.08     32.84     31.40
               2003     13.84     19.39      8.23         31.82     38.02     23.86
1996-2003 Average       35.99     37.59     30.78         71.06     71.01     63.18

Average Annual Govt. Payments ($1000)
               1995     16.79     17.62     16.79         26.45     28.24     26.45
               1996     21.25     30.47     18.05         33.46     48.49     28.42
               1997     24.86     26.88     22.47         39.53     42.77     35.83
               1998     32.62     28.80     31.35         52.84     45.83     51.07
               1999     34.85     27.26     32.06         56.65     43.37     52.36
               2000     33.52     22.54     28.75         54.30     35.86     46.69
               2001     20.01     18.37     15.83         31.54     29.23     24.94
               2002     24.68     16.67     18.56         39.35     26.48     29.42
               2003     19.17     16.67     14.75         30.23     26.48     23.26
1996-2003 Average       26.37     23.46     22.73         42.24     37.31     36.50

Average Annual Real Net Worth w/o
Land Inflation ($1,000)
               1995    212.12    203.12    212.12        416.45    399.36    416.45
               1996    208.82    208.00    206.02        433.53    427.76    430.16
               1997    203.43    205.08    197.96        446.25    443.59    439.71
               1998    192.59    190.23    183.35        447.46    439.47    437.58
               1999    180.84    175.97    168.21        457.36    445.01    444.25
               2000    168.10    158.99    151.30        456.32    437.18    438.34
               2001    151.49    147.89    131.49        447.42    433.71    426.35
               2002    129.18    123.54    105.04        420.35    399.63    391.31
               2003    100.13     97.64     72.92        393.71    378.32    359.96
1996-2003 Average      166.82    163.42    152.04        437.80    425.58    420.96

Average Annual Real Net Worth ($1000)
               1995    212.12    203.12    212.12        416.45    399.36    416.45
               1996    208.87    208.09    206.11        433.79    428.11    430.51
               1997    203.84    205.28    198.17        447.64    444.36    440.48
               1998    192.87    190.20    183.33        448.52    439.64    437.74
               1999    180.86    175.32    167.57        457.72    443.39    442.63
               2000    167.75    157.95    150.27        455.62    434.43    435.60
               2001    151.32    147.07    130.67        447.31    431.68    424.32
               2002    128.41    121.97    103.47        418.49    395.36    387.04
               2003     98.93     95.37     70.64        390.60    371.99    353.63
1996-2003 Average      166.61    162.66    151.28        437.46    423.62    418.99

NIA for Real Net Worth w/o Land Inflation 1996-2003
in Dollars ($1000)      20.80     19.08     24.53          4.60      3.86     10.63

NIA for Real Net Worth w/o Land Inflation 1996-2003
as % Receipts (%)        9.40      8.33     11.30          1.24      1.00      2.92

NIA for Total Real Net Worth 1996-2003
in Dollars ($1000)      21.06     19.52     25.01          5.23      5.01     12.09

NIA for Total Real Net Worth 1996-2003
as % Receipts (%)        9.52      8.52     11.51          1.41      1.31      3.31
____________________________________________________________________________________________________

Appendix Table C12.  Implication of Continuing the Current Farm Program vs. the Freedom to Farm
                     Act (FTFA) and a 30% Normal Flex Option on Representative Farms in Texas.
____________________________________________________________________________________________________
                    Texas Blacklands Cotton Farm      Texas Coastal Bend Cotton Farm
                    ____________________________      _______________________________
                    Baseline  FTFA      30% FLEX      Baseline  FTFA      30% FLEX
____________________________________________________________________________________________________

Average Change in Real Net Worth w/o Land
Inflation 1995-2003    -43.87    -29.56    -46.08        -77.21    -76.02   -117.46

Average Change in Real Net
Worth 1995-2003 (%)    -44.23    -31.00    -47.52        -78.42    -78.21   -119.65

Average Annual Net Cash Income ($1000)
               1995     67.24     67.24     67.24         80.30     80.30     80.30
               1996     51.17     79.18     50.67         69.01    110.69     64.67
               1997     51.29     66.43     50.84         54.24     69.70     49.74
               1998     51.81     60.81     51.53         52.50     48.87     47.37
               1999     45.01     53.79     44.55         42.43     38.13     36.29
               2000     33.52     38.51     31.17          5.79     -5.51     -4.85
               2001     23.61     39.60     22.48        -14.63     -3.76    -22.92
               2002     18.02     22.37     13.75        -30.73    -43.74    -46.60
               2003     12.03     27.73     10.14        -48.50    -46.94    -62.74
1996-2003 Average       35.81     48.55     34.39         16.26     20.93      7.62

Average Annual Govt. Payments ($1000)
               1995     30.42     30.42     30.42         46.53     46.53     46.53
               1996     27.34     39.83     20.40         44.03     63.48     33.49
               1997     34.58     34.66     28.03         55.18     55.39     45.96
               1998     38.57     36.90     34.38         64.94     59.05     59.97
               1999     40.05     34.88     35.56         68.25     55.84     62.30
               2000     38.43     28.80     32.13         65.57     46.13     55.92
               2001     25.01     23.46     18.44         40.61     37.58     30.33
               2002     28.85     22.52     20.71         48.45     35.93     34.97
               2003     22.35     22.52     15.85         37.06     35.93     26.68
1996-2003 Average       31.90     30.45     25.69         53.01     48.67     43.70

Average Annual Real Net Worth w/o
Land Inflation ($1,000)
               1995    367.15    367.15    367.15        384.80    384.80    384.80
               1996    353.52    371.80    353.06        392.87    413.75    389.91
               1997    351.27    375.96    350.43        377.69    407.69    371.98
               1998    348.92    373.64    347.87        371.72    398.49    363.06
               1999    332.50    360.07    331.11        358.48    380.78    345.05
               2000    304.05    334.63    300.83        291.98    304.50    270.53
               2001    272.43    314.25    268.46        232.13    252.57    205.05
               2002    239.99    283.59    232.98        163.83    173.91    125.92
               2003    206.10    258.61    197.97         87.69     92.27      0.00
1996-2003 Average      301.10    334.07    297.84        284.55    302.99    250.54

Average Annual Real Net Worth ($1000)
               1995    367.15    367.15    367.15        384.80    384.80    384.80
               1996    354.26    372.65    353.91        393.01    413.99    390.16
               1997    353.79    377.72    352.19        379.01    408.28    372.57
               1998    351.37    374.99    349.23        372.50    398.22    362.79
               1999    334.42    359.55    330.59        358.32    378.28    342.55
               2000    304.96    333.03    299.22        290.45    300.56    266.59
               2001    274.31    313.79    267.99        231.18    249.38    201.86
               2002    239.97    280.60    229.99        160.75    167.98    119.99
               2003    204.74    253.32    192.67         83.04     83.84      0.00
1996-2003 Average      302.23    333.21    296.98        283.53    300.07    247.61

NIA for Real Net Worth w/o Land Inflation 1996-2003
in Dollars ($1000)      29.95     19.89     31.11         46.05     43.13     53.12

NIA for Real Net Worth w/o Land Inflation 1996-2003
as % Receipts (%)       12.73      7.44     12.74         10.20      8.22     11.12

NIA for Total Real Net Worth 1996-2003
in Dollars ($1000)      30.21     20.82     32.12         46.75     44.40     54.38

NIA for Total Real Net Worth 1996-2003
as % Receipts (%)       12.84      7.79     13.16         10.36      8.46     11.39
____________________________________________________________________________________________________

Appendix Table C13.  Implication of Continuing the Current Farm Program vs. the Freedom to Farm
                     Act (FTFA) and a 30% Normal Flex Option on Representative Farms in California.
____________________________________________________________________________________________________
                    California Moderate Cotton Farm   California Large Cotton Farm
                    _______________________________   ____________________________
                    Baseline  FTFA      30% FLEX      Baseline  FTFA      30% FLEX
____________________________________________________________________________________________________

Average Change in Real Net Worth w/o Land
Inflation 1995-2003    -21.79    -17.67    -25.59        -56.21    -52.87    -61.00

Average Change in Real Net
Worth 1995-2003 (%)    -26.91    -24.05    -31.97        -39.93    -37.78    -45.91

Average Annual Net Cash Income ($1000)
               1995    175.47    175.47    175.47        142.85    142.85    142.85
               1996    182.41    224.83    168.91        148.77    297.02    101.42
               1997    170.32    189.82    156.42         29.92    102.90    -20.83
               1998    156.48    154.06    141.28        -52.64    -55.43   -112.41
               1999    134.66    134.61    118.81       -176.99   -169.90   -240.39
               2000     95.40     88.38     77.62       -358.31   -376.27   -421.14
               2001     54.71     90.38     42.00       -535.61   -404.98   -601.44
               2002      4.76      7.53    -16.62       -709.97   -697.99   -797.97
               2003    -42.11     -6.79    -57.53       -851.32   -764.26   -917.24
1996-2003 Average       94.58    110.35     78.86       -313.27   -258.61   -376.25

Average Annual Govt. Payments ($1000)
               1995     49.79     49.79     49.79        175.39    175.39    175.39
               1996     62.53     85.47     51.69        220.29    301.07    182.11
               1997     72.29     75.54     63.13        255.03    266.10    222.82
               1998     96.64     81.10     90.37        341.76    285.70    319.91
               1999    104.45     76.88     94.04        369.52    270.82    332.96
               2000    102.51     63.64     86.40        362.43    224.19    305.61
               2001     60.61     51.88     47.14        213.53    182.78    166.06
               2002     76.14     48.72     56.79        268.60    171.62    200.23
               2003     59.72     48.72     45.83        210.37    171.62    161.45
1996-2003 Average       79.36     66.49     66.93        280.19    234.24    236.39

Average Annual Real Net Worth w/o
Land Inflation ($1,000)
               1995   1731.76   1731.76   1731.76       7316.93   7316.93   7316.93
               1996   1749.26   1763.90   1744.31       7169.25   7269.91   7125.86
               1997   1760.99   1786.56   1749.78       6847.50   7009.97   6761.29
               1998   1752.90   1778.34   1735.47       6499.67   6655.34   6366.25
               1999   1733.51   1757.92   1710.01       6047.30   6204.41   5866.95
               2000   1701.31   1721.44   1667.80       5471.95   5609.72   5267.47
               2001   1640.23   1687.34   1597.95       4803.59   5037.63   4527.89
               2002   1514.65   1562.26   1457.96       4012.01   4249.04   3692.70
               2003   1354.49   1425.80   1288.68       3204.19   3448.68   2853.67
1996-2003 Average     1650.92   1685.45   1618.99       5506.93   5685.59   5307.76

Average Annual Real Net Worth ($1000)
               1995   1731.76   1731.76   1731.76       7316.93   7316.93   7316.93
               1996   1728.92   1741.54   1721.96       7204.39   7305.05   7161.00
               1997   1727.35   1741.52   1704.74       7019.19   7176.39   6927.72
               1998   1706.90   1712.03   1669.16       6876.88   7018.85   6729.75
               1999   1668.54   1679.07   1631.16       6574.94   6711.33   6373.87
               2000   1626.02   1621.59   1567.95       6161.43   6275.42   5933.16
               2001   1559.32   1578.67   1489.27       5682.73   5889.20   5379.46
               2002   1429.09   1452.62   1348.32       5062.98   5254.75   4698.41
               2003   1265.71   1315.20   1178.07       4395.34   4552.50   3957.50
1996-2003 Average     1588.98   1605.28   1538.83       6122.23   6272.94   5895.11

NIA for Real Net Worth w/o Land Inflation 1996-2003
in Dollars ($1000)      82.07     68.66     97.39        667.66    618.32    716.87

NIA for Real Net Worth w/o Land Inflation 1996-2003
as % Receipts (%)        9.02      7.24     10.88         21.27     18.88     23.21

NIA for Total Real Net Worth 1996-2003
in Dollars ($1000)     105.53     93.34    123.80        438.15    410.28    500.97

NIA for Total Real Net Worth 1996-2003
as % Receipts (%)       11.60      9.84     13.83         13.96     12.53     16.22
____________________________________________________________________________________________________

Appendix Table C14.  Implication of Continuing the Current Farm Program vs. the Freedom to Farm
                     Act (FTFA) and a 30% Normal Flex Option on Representative Farms in Mississippi.
____________________________________________________________________________________________________
                    Mississippi Moderate Cotton Farm  Mississippi Large Cotton Farm
                    ________________________________  ______________________________
                    Baseline   FTFA     30% FLEX      Baseline   FTFA     30% FLEX
____________________________________________________________________________________________________

Average Change in Real Net Worth w/o Land
Inflation 1995-2003    -99.96    -69.38   -112.63        -58.43    -47.57    -68.25

Average Change in Real Net
Worth 1995-2003 (%)   -104.99    -75.78   -119.03        -63.90    -54.26    -74.94

Average Annual Net Cash Income ($1000)
               1995     30.51     30.51     30.51        119.33    119.33    119.33
               1996     28.29    107.30     10.70        114.58    268.28     77.29
               1997     12.13     54.98     -4.50         82.27    168.22     47.34
               1998     -0.81      4.78    -19.12         43.27     59.08      4.30
               1999    -19.46     -5.56    -37.50          9.19     39.13    -29.30
               2000    -47.21    -43.55    -66.01        -41.81    -33.17    -88.96
               2001    -76.70    -39.77    -90.60       -102.07      0.21   -129.19
               2002    -99.76   -108.18   -127.39       -137.59   -127.13   -182.37
               2003   -141.80    -94.97   -163.00       -178.81   -106.89   -225.11
1996-2003 Average      -43.17    -15.62    -62.18        -26.37     33.47    -65.75

Average Annual Govt. Payments ($1000)
               1995     44.16     44.16     44.16         84.16     84.16     84.16
               1996     55.41     75.80     45.80        105.60    144.47     87.30
               1997     64.99     67.00     56.81        124.05    127.69    108.50
               1998     87.55     71.93     82.48        167.54    137.09    158.01
               1999     95.06     68.18     86.22        181.98    129.95    165.20
               2000     93.05     56.44     78.64        178.02    107.58    150.53
               2001     54.04     46.02     41.85        102.99     87.70     79.75
               2002     68.10     43.21     50.32        129.99     82.35     95.99
               2003     52.92     43.21     40.42        100.85     82.35     77.04
1996-2003 Average       71.39     58.97     60.32        136.38    112.40    115.29

Average Annual Real Net Worth w/o
Land Inflation ($1,0
               1995   1058.47   1058.47   1058.47       2259.82   2259.82   2259.82
               1996    999.09   1049.71    982.97       2197.28   2272.91   2163.12
               1997    923.08   1009.91    892.78       2110.39   2256.21   2046.47
               1998    843.31    932.01    798.36       1970.47   2124.94   1875.35
               1999    746.88    844.03    688.57       1815.22   1989.14   1691.55
               2000    631.65    728.35    568.83       1623.44   1798.20   1466.46
               2001    507.60    599.28    437.29       1392.41   1638.51   1246.07
               2002    374.19    452.15    278.23       1173.25   1411.93   1001.93
               2003      0.44    324.08      0.00        939.40   1184.87    717.51
1996-2003 Average      628.28    742.44    564.17       1652.73   1834.59   1526.06

Average Annual Real Net Worth ($1000)
               1995   1058.47   1058.47   1058.47       2259.82   2259.82   2259.82
               1996    990.02   1040.57    973.83       2176.24   2251.72   2141.93
               1997    910.07    991.03    873.91       2078.40   2213.03   2003.28
               1998    823.64    905.58    771.94       1922.64   2064.23   1814.64
               1999    721.37    808.41    652.95       1753.39   1908.05   1610.46
               2000    596.35    680.65    521.13       1540.40   1691.54   1359.80
               2001    467.21    546.52    384.53       1297.37   1519.89   1127.44
               2002    328.05    391.62    217.70       1065.17   1276.42    866.42
               2003      0.00    256.34      0.00        815.76   1033.74    566.39
1996-2003 Average      597.98    702.59    524.33       1581.17   1744.83   1436.29

NIA for Real Net Worth w/o Land Inflation 1996-2003
in Dollars ($1000)     151.55    127.92    165.90        222.26    174.94    254.31

NIA for Real Net Worth w/o Land Inflation 1996-2003
as % Receipts (%)       20.73     14.61     23.20         15.03      9.79     17.61

NIA for Total Real Net Worth 1996-2003
in Dollars ($1000)     163.96    145.19    183.43        255.31    210.80    293.80

NIA for Total Real Net Worth 1996-2003
as % Receipts (%)       22.42     16.58     25.66         17.27     11.80     20.34
____________________________________________________________________________________________________