Table 4. Assumed Rates of Change in Input Prices and Annual Interest Rates
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1996 1997 1998 1999 2000 2001 2002 1996-2002
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Average Annual Rate of Change in Variable Cash Expenses
Corn (%) 0.93 -0.47 0.94 1.39 0.69 0.41 1.24 5.22
Wheat (%) 3.10 -1.92 0.28 2.16 0.93 0.18 1.47 6.29
Cotton (%) 3.43 0.74 1.55 1.93 1.50 1.40 1.98 13.19
Sorghum (%) -0.33 -0.71 1.00 1.41 0.82 0.46 1.12 3.81
Soybeans (%) 0.92 0.70 0.90 1.26 0.98 1.12 1.43 7.54
Barley (%) 0.35 -0.47 0.84 1.81 1.26 0.51 1.47 5.90
Oats (%) 3.21 -1.43 0.17 1.55 1.70 1.34 1.63 8.40
Rice (%) 1.18 0.13 1.34 1.77 1.50 1.52 1.92 9.73
Dairy (%) -1.91 0.76 2.88 3.56 3.88 3.76 4.44 18.52
Cattle (%) -1.35 -0.12 0.32 0.77 0.67 0.51 1.07 1.87
Hogs (%) 3.53 -0.78 0.72 6.10 0.01 -1.69 2.56 10.70
Annual Interest Rates
Long-Term (%) 7.50 7.24 7.18 7.23 6.96 6.84 6.84
Intermediate-Term (%) 7.90 7.75 7.75 7.81 7.68 7.42 7.12
Savings Account (%) 3.90 3.75 3.75 3.81 3.68 3.42 3.12
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Source: Food and Agricultural Policy Research Institute (FAPRI) at the University of
Missouri-Columbia and Iowa State University.