Table 2. Projected Crop Prices, Livestock Prices, Milk Prices and Milk Production Per Cow.
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1996 1997 1998 1999 2000 2001 2002
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Crop Price
Corn ($/bu.) 2.75 2.46 2.31 2.23 2.29 2.33 2.43
Wheat ($/bu.) 3.78 3.37 3.43 3.43 3.45 3.24 3.21
Cotton ($/lb.) 0.6602 0.6424 0.6426 0.6383 0.6362 0.6400 0.6402
Sorghum ($/bu.) 2.58 2.31 2.14 2.08 2.13 2.18 2.25
Soybeans ($/bu.) 6.50 6.26 5.74 5.57 5.54 5.68 5.86
Barley ($/bu.) 2.32 2.36 2.21 2.17 2.14 2.21 2.18
Oats ($/bu.) 1.51 1.39 1.31 1.31 1.31 1.37 1.43
Rice ($/cwt.) 7.33 7.67 8.12 7.80 8.04 8.04 8.12
Soybean Meal ($/ton) 198.96 195.59 183.65 180.37 181.44 187.37 193.92
All Hay ($/ton) 76.72 76.69 73.77 65.39 64.72 63.87 63.70
Cattle Prices
Feeder Cattle ($/cwt.) 60.90 62.31 71.27 78.45 87.55 91.17 96.60
Culled Cows ($/cwt.) 34.14 33.45 38.18 39.98 42.99 44.20 45.44
Hog Prices
Barrows/Gilts ($/cwt.) 46.00 47.71 45.15 40.64 43.51 47.20 43.42
Culled Sows ($/cwt.) 34.50 37.29 34.42 31.83 35.28 38.21 34.90
Milk Prices -- National and Regional
All Milk Price ($/cwt.) 12.89 12.87 12.78 12.73 12.31 12.41 12.55
Appalachia ($/cwt.) 13.93 13.95 13.90 13.88 13.55 13.65 13.80
Corn Belt ($/cwt.) 12.43 12.43 12.35 12.31 11.92 12.03 12.17
Upper Midwest ($/cwt.) 12.15 12.15 12.08 12.05 11.68 11.78 11.93
Northeast ($/cwt.) 13.21 13.21 13.15 13.13 12.74 12.86 13.02
Pacific ($/cwt.) 11.50 11.48 11.39 11.35 10.92 11.04 11.17
Southeast ($/cwt.) 14.54 14.52 14.43 14.38 14.01 14.07 14.19
Southern Plains ($/cwt.) 13.05 13.00 12.89 12.82 12.37 12.46 12.57
Milk Assessment ($/cwt.) 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Milk Production per Cow (cwt/year/cow)
167.21 171.23 175.65 180.72 186.00 189.68 193.34
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Source: Food and Agricultural Policy Research Institute (FAPRI) at the University of
Missouri-Columbia and Iowa State University.