Table 5. Implications of the 1996 Farm Bill and the January 1997 FAPRI 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 (%) 21.93 44.82 32.94 41.76 7.32 -2.73 15.41
Government Payments/Receipts (%)
1996-2002 Average 6.33 7.86 6.23 6.38 2.59 7.28 7.60
Expenses to Receipts (%)
1996-2002 Average 64.99 59.25 52.36 52.09 81.31 87.26 77.90
Average Cash Receipts ($1000)
1996 320.05 573.52 381.49 840.87 452.32 378.03 789.61
1997 291.04 523.61 366.74 774.73 444.75 346.66 713.46
1998 293.83 531.44 368.03 795.60 427.97 358.50 732.22
1999 298.95 540.15 380.75 817.10 428.15 373.01 753.54
2000 307.84 554.93 388.32 821.10 449.22 381.60 762.19
2001 313.98 563.88 416.00 839.48 468.05 393.61 785.36
2002 321.70 577.19 433.20 864.38 456.48 399.55 806.81
1996-2002 Average 306.77 552.10 390.65 821.90 446.71 375.85 763.31
Average Government Payments ($1000)
1996 11.44 27.45 11.18 24.97 6.55 19.07 41.07
1997 17.22 38.46 20.75 44.94 10.51 25.78 54.93
1998 24.80 54.56 27.76 58.49 15.50 33.41 71.72
1999 23.51 51.99 25.81 53.92 14.77 31.10 66.94
2000 20.56 45.90 23.74 49.57 12.72 28.20 60.43
2001 15.22 34.68 18.19 38.41 9.21 21.74 46.96
2002 13.64 31.62 17.35 36.45 8.15 20.43 44.00
1996-2002 Average 18.06 40.67 20.68 43.82 11.06 25.68 55.15
Average Net Cash Income ($1000)
1996 129.61 252.90 194.57 434.41 105.94 81.51 220.06
1997 101.23 209.16 172.80 381.35 97.07 51.87 149.99
1998 105.80 221.48 178.68 395.64 80.83 54.20 168.90
1999 111.82 233.61 194.44 419.22 74.27 62.44 182.90
2000 119.36 244.74 204.14 425.62 89.62 59.38 183.10
2001 122.75 251.07 217.11 446.95 97.81 63.73 195.40
2002 127.81 265.61 233.77 471.77 81.47 59.73 208.86
1996-2002 Average 116.91 239.80 199.36 425.00 89.57 61.84 187.03
Average Cash Reserve ($1000)
1996 43.83 97.03 62.45 164.07 19.85 12.95 80.89
1997 49.98 144.90 93.42 278.62 30.33 -6.97 87.55
1998 58.12 194.30 117.88 351.99 22.34 -29.87 94.46
1999 68.69 253.90 150.72 398.66 16.84 -52.13 94.65
2000 78.32 286.51 172.50 436.96 22.49 -75.20 109.68
2001 92.04 321.92 191.64 498.70 10.47 -102.59 107.15
2002 97.66 358.18 209.34 578.75 -10.54 -142.54 114.46
1996-2002 Average 69.81 236.68 142.56 386.82 15.97 -56.62 98.41
Average Total Debt ($1000)
1996 264.31 293.79 381.39 593.47 280.92 251.34 579.90
1997 249.38 280.62 350.02 571.12 296.76 327.62 593.47
1998 214.63 227.74 295.32 501.87 307.53 313.97 579.08
1999 209.62 260.63 257.25 414.69 305.14 354.26 553.88
2000 217.26 244.91 277.23 290.40 347.18 351.51 550.71
2001 228.67 175.38 241.66 194.57 332.85 378.60 512.14
2002 201.14 145.69 171.35 123.56 359.70 406.37 540.92
1996-2002 Average 226.43 232.68 282.03 384.24 318.58 340.52 558.59
Average Nominal Net Worth ($1000)
1996 925.71 1149.46 1370.84 2677.28 1270.87 1041.52 2205.25
1997 990.42 1264.43 1490.90 2949.56 1345.79 1068.15 2332.22
1998 1065.02 1390.86 1618.90 3221.19 1406.66 1116.80 2483.40
1999 1139.58 1503.02 1762.62 3521.86 1478.54 1165.57 2647.23
2000 1196.54 1615.74 1865.80 3776.34 1537.40 1196.20 2763.45
2001 1244.63 1731.54 1979.10 4021.84 1597.72 1208.35 2876.85
2002 1292.86 1830.83 2087.82 4238.44 1598.29 1199.58 2948.11
1996-2002 Average 1122.11 1497.99 1739.43 3486.65 1462.18 1142.31 2608.07
NIA for Total Real Net Worth 1996-2002
in Dollars ($1000) -46.83 -109.78 -97.66 -256.84 -12.11 6.70 -66.78
NIA for Total Real Net Worth 1996-2002
as % Receipts (%) -15.26 -19.88 -25.66 -31.25 -2.71 1.78 -8.98
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Table 6. Implications of the 1996 Farm Bill and the January 1997 FAPRI 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 (%) 45.71 77.84 -34.88 -17.45 43.53 66.04
Government Payments/Receipts (%)
1996-2002 Average 8.49 7.25 7.98 8.64 6.98 5.93
Expenses to Receipts (%)
1996-2002 Average 68.77 63.42 87.48 82.44 74.03 62.40
Average Cash Receipts ($1000)
1996 379.44 1427.68 219.73 358.79 605.24 1599.33
1997 335.07 1252.10 197.09 317.45 540.32 1458.09
1998 341.26 1273.42 201.52 324.87 550.32 1464.66
1999 356.38 1321.43 207.32 336.20 568.54 1506.64
2000 358.41 1333.43 208.08 338.20 584.73 1550.52
2001 368.13 1376.18 213.82 347.84 602.16 1604.11
2002 375.12 1401.41 219.56 355.28 610.92 1626.07
1996-2002 Average 359.11 1340.81 209.59 339.80 580.32 1544.20
Average Government Payments ($1000)
1996 24.77 75.30 12.24 22.35 24.41 58.04
1997 30.34 97.74 16.30 28.92 36.36 84.66
1998 37.15 119.41 20.81 36.05 48.80 112.49
1999 34.69 111.17 19.51 33.87 45.80 105.57
2000 31.45 100.78 17.71 30.68 41.80 97.09
2001 24.79 78.72 13.72 23.96 32.59 73.20
2002 23.72 74.49 12.87 22.73 30.18 67.82
1996-2002 Average 29.56 93.94 16.17 28.37 37.13 85.55
Average Net Cash Income ($1000)
1996 133.11 581.24 46.62 88.76 197.30 664.79
1997 95.46 426.24 24.92 51.27 138.65 530.79
1998 105.13 452.52 29.58 61.48 149.12 547.40
1999 118.36 493.18 29.68 65.46 162.20 586.13
2000 118.55 500.57 23.19 60.93 165.57 617.22
2001 120.10 529.86 23.56 59.64 176.31 655.76
2002 123.38 545.17 24.23 61.09 177.76 675.92
1996-2002 Average 116.30 504.11 28.82 64.09 166.70 611.14
Average Cash Reserve ($1000)
1996 61.39 309.51 5.68 24.56 85.88 276.90
1997 83.46 435.74 -17.04 -1.37 113.71 455.64
1998 113.85 545.75 -35.99 -18.52 151.30 633.07
1999 151.52 704.07 -61.55 -49.02 192.20 794.72
2000 175.62 842.89 -80.55 -50.43 226.73 943.41
2001 198.11 959.63 -101.08 -65.91 263.21 1048.41
2002 224.44 1055.54 -122.54 -81.57 290.83 1128.39
1996-2002 Average 144.06 693.30 -59.01 -34.61 189.12 754.36
Average Total Debt ($1000)
1996 92.95 350.66 117.11 142.01 156.99 609.87
1997 82.24 425.85 118.07 124.29 166.59 598.73
1998 70.62 384.92 130.76 135.49 165.76 567.85
1999 66.21 330.92 161.46 129.33 242.04 622.70
2000 118.71 319.92 168.47 190.77 231.33 629.79
2001 112.63 227.06 175.21 184.75 232.98 462.59
2002 145.26 131.77 252.35 194.42 264.50 384.08
1996-2002 Average 98.37 310.16 160.49 157.30 208.60 553.66
Average Nominal Net Worth ($1000)
1996 466.65 1809.94 285.28 629.21 752.27 2372.36
1997 498.55 1994.98 276.32 624.14 815.76 2673.27
1998 540.20 2223.19 272.47 618.29 891.06 2986.03
1999 590.60 2467.59 264.43 622.57 968.27 3308.47
2000 634.95 2685.29 251.14 614.08 1041.58 3608.73
2001 681.02 2911.17 237.07 608.33 1109.93 3932.15
2002 719.84 3152.37 217.16 597.43 1168.09 4207.40
1996-2002 Average 590.26 2463.50 257.69 616.29 963.85 3298.35
NIA for Total Real Net Worth 1996-2002
in Dollars ($1000) -42.20 -286.01 19.63 28.44 -72.05 -386.05
NIA for Total Real Net Worth 1996-2002
as % Receipts (%) -11.75 -21.57 10.01 8.37 -12.42 -25.00
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