Table 5.  Implications of the 1996 Farm Bill and FAPRI November 1996 Baseline on the Economic
          Viablility of Representative Farms Primarily Producing Feed Grains
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                        IAG950   IAG2200  MOCG1500  MOCG3000  MONG1200    NEG800   NEG1575
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Change in Real Net Worth
1996-2002 (%)             9.08     20.74     14.77     20.66      0.79    -10.21      3.48

Government Payments/Receipts (%)
1996-2002 Average         7.70      9.51      7.53      7.71      3.12      9.14      9.58

Expenses to Receipts (%)
1996-2002 Average        65.51     60.00     53.82     53.19     81.15     88.58     79.43

Average Cash Receipts ($1000)
           1996         313.82    563.93    378.14    834.71    448.19    379.36    789.09
           1997         290.68    524.44    364.33    774.50    440.95    347.88    716.96
           1998         291.36    529.07    360.36    787.11    427.20    354.37    721.75
           1999         296.99    538.62    370.02    807.76    435.14    370.87    745.69
           2000         304.50    550.81    373.92    808.80    449.35    377.59    750.06
           2001         304.46    548.59    375.62    810.62    458.43    378.52    751.32
           2002         308.44    555.29    383.32    824.63    445.76    381.28    762.88
1996-2002 Average       301.46    544.39    372.24    806.88    443.57    369.98    748.25

Average Government Payments ($1000)
           1996          13.74     32.79     16.62     37.38      7.94     22.43     48.32
           1997          20.07     44.92     23.46     51.03     12.22     30.07     64.10
           1998          29.56     64.86     32.12     68.69     18.53     41.25     88.33
           1999          27.03     60.07     28.91     61.81     16.90     38.03     81.74
           2000          24.06     53.77     26.73     57.17     14.86     34.79     74.44
           2001          19.16     43.01     22.12     47.55     11.72     28.57     61.69
           2002          17.71     40.10     20.56     44.79     10.77     26.93     58.18
1996-2002 Average        21.62     48.50     24.36     52.63     13.28     31.73     68.11

Average Net Cash Income ($1000)
           1996         126.30    247.60    193.77    432.20    105.01     84.69    222.51
           1997         105.79    219.58    176.61    393.12     99.83     56.56    161.01
           1998         107.05    225.10    175.88    395.91     85.18     52.51    162.37
           1999         113.38    236.32    187.17    415.50     86.13     62.77    178.38
           2000         118.90    241.75    190.45    413.30     93.88     57.70    172.94
           2001         114.60    231.84    183.84    410.57     90.33     48.72    157.63
           2002         113.69    235.08    187.55    418.37     70.86     37.75    154.97
1996-2002 Average       114.24    233.90    185.04    411.28     90.17     57.24    172.83

Average Cash Reserve ($1000)
           1996          62.57    145.96    100.92    248.86     37.77     28.42    121.05
           1997          60.08    162.19    111.07    291.48     41.37     -0.89    105.88
           1998          60.06    191.35    120.98    336.17     26.21    -29.12     91.93
           1999          68.53    232.64    141.16    373.05     24.33    -48.57     87.49
           2000          68.94    241.13    152.19    382.59     27.00    -71.67     84.01
           2001          70.58    248.56    154.00    405.37      3.37   -109.58     45.91
           2002          63.66    263.37    154.99    427.39    -28.87   -162.66     11.77
1996-2002 Average        64.92    212.17    133.62    352.13     18.74    -56.30     78.29

Average Total Debt ($1000)
           1996         268.15    295.26    377.09    576.80    287.60    267.71    588.55
           1997         251.76    278.65    340.07    532.58    296.48    334.63    600.05
           1998         214.73    223.84    290.08    472.83    307.89    318.17    582.06
           1999         208.32    257.81    261.59    422.21    299.43    353.55    551.02
           2000         217.23    261.60    303.59    342.66    341.13    349.54    548.02
           2001         233.48    213.94    295.41    295.46    325.33    384.30    521.10
           2002         211.95    217.87    254.07    260.20    357.62    418.17    562.61
1996-2002 Average       229.37    249.85    303.13    414.67    316.50    346.58    564.77

Average Nominal Net Worth ($1000)
           1996         959.58   1169.45   1428.60   2776.17   1315.37   1079.93   2298.90
           1997        1016.63   1264.46   1527.65   2998.17   1379.16   1102.38   2410.82
           1998        1067.55   1347.58   1611.85   3171.54   1424.59   1134.74   2504.37
           1999        1112.62   1408.14   1697.45   3347.02   1480.29   1163.94   2601.06
           2000        1135.01   1458.22   1735.74   3460.05   1508.49   1172.00   2643.93
           2001        1146.05   1501.79   1772.80   3549.14   1528.03   1149.87   2663.97
           2002        1151.86   1520.25   1795.00   3592.98   1495.07   1104.20   2632.47
1996-2002 Average      1084.18   1381.41   1652.73   3270.72   1447.29   1129.58   2536.50

NIA for Total Real Net Worth 1996-2002
in Dollars ($1000)      -24.42    -82.82    -73.25   -178.83      0.00     28.00    -12.50

NIA for Total Real Net Worth 1996-2002
as % Receipts (%)        -8.10    -15.21    -20.22    -22.16      0.00      7.57     -1.72
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Table 6. Implications of the 1996 Farm Bill and FAPRI November 1996 Baseline on the Economic Viablility of Representative Farms Primarily Producing Feed Grains ______________________________________________________________________________________________ TXNP1600 TXNP5500 KSG728 KSG1652 SCG1500 SCG3500 ______________________________________________________________________________________________ Change in Real Net Worth 1996-2002 (%) 11.98 21.42 -47.13 -25.38 11.14 27.05 Government Payments/Receipts (%) 1996-2002 Average 10.56 10.20 10.37 11.09 8.31 7.07 Expenses to Receipts (%) 1996-2002 Average 69.34 74.03 92.21 86.04 76.33 64.43 Average Cash Receipts ($1000) 1996 387.77 1255.26 219.67 361.09 597.02 1583.66 1997 340.80 1123.22 199.36 322.89 544.48 1461.51 1998 341.61 1125.96 199.25 321.89 546.88 1457.49 1999 352.20 1158.54 205.55 332.43 554.01 1471.47 2000 352.87 1160.80 205.46 332.90 566.31 1503.29 2001 351.67 1157.89 204.31 330.48 567.38 1519.18 2002 353.59 1171.47 207.93 335.57 565.36 1514.21 1996-2002 Average 354.36 1164.74 205.93 333.89 563.06 1501.54 Average Government Payments ($1000) 1996 29.14 88.58 14.40 26.49 31.52 75.88 1997 36.28 114.33 18.84 33.74 41.62 98.70 1998 45.35 145.11 25.62 44.15 56.09 128.18 1999 42.33 135.27 23.89 41.33 51.77 118.75 2000 38.66 123.79 21.68 37.54 47.36 109.98 2001 31.54 101.34 18.07 31.15 38.34 86.41 2002 30.18 96.22 16.90 29.33 36.10 81.79 1996-2002 Average 36.21 114.95 19.91 34.82 43.26 99.96 Average Net Cash Income ($1000) 1996 144.59 413.10 48.04 93.10 191.50 653.89 1997 108.38 305.00 28.89 59.86 149.79 554.02 1998 111.60 306.10 30.53 63.47 151.10 550.98 1999 118.86 324.31 30.57 65.79 151.81 556.05 2000 114.18 311.90 22.53 58.12 148.11 565.47 2001 99.59 279.51 14.19 41.86 137.68 552.18 2002 92.61 268.50 9.76 36.56 123.59 531.76 1996-2002 Average 112.83 315.49 26.36 59.82 150.51 566.33 Average Cash Reserve ($1000) 1996 85.70 224.26 5.02 25.83 115.62 457.13 1997 104.47 266.74 -18.09 3.98 126.06 538.44 1998 121.80 278.49 -38.81 -13.36 143.19 627.50 1999 135.82 347.34 -63.28 -44.19 147.45 681.65 2000 129.79 353.28 -85.96 -51.16 152.05 728.63 2001 111.67 328.23 -116.98 -84.60 141.20 749.01 2002 106.76 316.73 -152.55 -117.94 112.04 757.80 1996-2002 Average 113.72 302.15 -67.24 -40.21 133.95 648.60 Average Total Debt ($1000) 1996 93.18 351.95 131.60 154.37 160.81 611.32 1997 82.19 426.77 129.07 136.74 172.09 598.60 1998 70.54 386.12 141.10 147.21 170.34 563.84 1999 66.26 336.25 169.32 141.12 246.47 626.64 2000 120.26 342.42 179.84 207.60 238.24 684.30 2001 115.50 302.17 195.32 212.94 248.56 606.27 2002 155.90 290.40 285.69 237.84 290.55 661.52 1996-2002 Average 100.55 348.01 175.99 176.83 218.15 621.78 Average Nominal Net Worth ($1000) 1996 519.66 1704.49 282.31 625.67 758.25 2414.43 1997 549.45 1816.54 273.84 624.12 811.56 2648.90 1998 570.60 1921.69 265.95 611.99 852.58 2831.65 1999 591.82 2024.57 254.83 609.33 885.72 2980.65 2000 604.25 2082.56 236.70 594.54 908.17 3086.32 2001 611.33 2111.89 211.30 571.89 912.44 3181.19 2002 609.88 2143.41 175.58 537.83 900.83 3206.28 1996-2002 Average 579.57 1972.16 242.93 596.48 861.37 2907.06 NIA for Total Real Net Worth 1996-2002 in Dollars ($1000) -24.00 -106.81 31.40 50.00 -30.00 -260.77 NIA for Total Real Net Worth 1996-2002 as % Receipts (%) -6.77 -9.29 16.32 14.98 -5.33 -17.37 ______________________________________________________________________________________________