Table 2. Comparison of Livestock and Milk Prices Under the Baseline and the Alternative Interest
Rate Scenarios.*
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1996 1997 1998 1999 2000 2001 2002
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Cattle Prices
Feeder Cattle ($/cwt.)
Baseline 61.37 67.87 75.30 83.49 90.22 92.92 85.70
50 Point Increase 61.37 67.62 74.86 83.02 89.97 92.93 85.99
100 Point Increase 61.37 67.43 74.37 82.50 89.64 92.90 86.26
Culled Cows ($/cwt)
Baseline 30.29 31.95 38.02 43.26 45.96 47.30 44.20
50 Point Increase 30.29 31.77 37.73 42.95 45.84 47.39 44.50
100 Point Increase 30.29 31.64 37.39 42.63 45.67 47.46 44.79
Hog Prices
Barrows/Gilts ($/cwt)
Baseline 53.36 53.81 46.36 42.04 45.42 49.03 46.08
50 Point Increase 53.36 53.76 46.23 41.96 45.42 49.10 46.16
100 Point Increase 53.36 53.71 46.12 41.87 45.42 49.16 46.24
Culled Sows ($/cwt)
Baseline 44.27 44.63 37.45 35.02 36.72 39.58 37.48
50 Point Increase 44.27 44.59 37.32 34.94 36.73 39.68 37.61
100 Point Increase 44.27 44.55 37.21 34.87 36.74 39.77 37.73
Milk Prices -- National and State
All Milk Price ($/cwt)
Baseline 14.75 13.69 13.53 13.39 13.00 12.98 13.01
50 Point Increase 14.75 13.68 13.50 13.37 13.00 13.02 13.09
100 Point Increase 14.75 13.67 13.47 13.34 13.00 13.06 13.16
California ($/cwt)
Baseline 13.63 12.51 12.42 12.32 11.93 11.93 11.95
50 Point Increase 13.63 12.50 12.39 12.29 11.93 11.96 12.02
100 Point Increase 13.63 12.49 12.36 12.26 11.93 12.00 12.09
Florida ($/cwt)
Baseline 18.00 16.89 16.79 16.68 16.30 16.30 16.32
50 Point Increase 18.00 16.88 16.76 16.66 16.30 16.33 16.39
100 Point Increase 18.00 16.87 16.73 16.63 16.30 16.37 16.46
Georgia ($/cwt)
Baseline 16.31 15.21 15.10 14.99 14.61 14.61 14.63
50 Point Increase 16.31 15.21 15.07 14.97 14.61 14.64 14.70
100 Point Increase 16.31 15.20 15.04 14.94 14.61 14.68 14.77
Missouri ($/cwt)
Baseline 15.23 14.04 13.88 13.76 13.37 13.36 13.40
50 Point Increase 15.23 14.03 13.85 13.73 13.37 13.40 13.48
100 Point Increase 15.23 14.03 13.82 13.71 13.37 13.44 13.55
New Mexico ($/cwt)
Baseline 13.87 12.90 12.68 12.53 12.14 12.14 12.20
50 Point Increase 13.87 12.89 12.65 12.51 12.15 12.19 12.29
100 Point Increase 13.87 12.88 12.62 12.49 12.15 12.23 12.38
New York ($/cwt)
Baseline 14.88 13.84 13.68 13.55 13.17 13.17 13.21
50 Point Increase 14.88 13.83 13.65 13.53 13.17 13.21 13.28
100 Point Increase 14.88 13.82 13.62 13.50 13.17 13.24 13.36
Texas ($/cwt)
Baseline 15.23 14.18 13.98 13.83 13.42 13.40 13.42
50 Point Increase 15.23 14.18 13.96 13.81 13.42 13.44 13.50
100 Point Increase 15.23 14.17 13.93 13.78 13.43 13.48 13.58
Vermont ($/cwt)
Baseline 15.38 14.32 14.17 14.05 13.65 13.65 13.68
50 Point Increase 15.38 14.31 14.14 14.02 13.66 13.69 13.76
100 Point Increase 15.38 14.30 14.11 13.99 13.66 13.73 13.83
Washington ($/cwt)
Baseline 14.41 13.52 13.22 13.05 12.65 12.65 12.74
50 Point Increase 14.41 13.51 13.19 13.03 12.66 12.70 12.83
100 Point Increase 14.41 13.51 13.17 13.01 12.67 12.76 12.93
Wisconsin ($/cwt)
Baseline 14.72 13.66 13.52 13.40 13.01 13.01 13.05
50 Point Increase 14.72 13.65 13.49 13.37 13.01 13.05 13.12
100 Point Increase 14.72 13.64 13.46 13.35 13.01 13.09 13.19
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*Baseline refers to the projected prices for the January 1997 FAPRI/AFPC Baseline.
50 and 100 Point Increases refer to the projected prices for the 50 and 100 point Increase
in the 90 Day Treasury Bill rate.
Source: Food and Agricultural Policy Research Institute (FAPRI) at the University
of Missouri-Columbia and Iowa State University.