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.