Table 4. Rate of Change for Input Prices, Consumer Price Index, Interest Rates, and Rate of
Change in Land Values, 1996-2002.
_______________________________________________________________________________________________
1996 1997 1998 1999 2000 2001 2002
_______________________________________________________________________________________________
Annual Rate of Change for Input Prices Paid
Seed Prices (%) 1.09 -0.09 1.36 2.19 1.97 2.11
Fertilizer Prices (%) -6.17 -0.76 1.13 1.76 3.42 2.39
Chemical Prices (%) 2.69 1.69 1.43 1.79 2.08 2.01
Machinery Prices (%) -0.06 -0.07 0.46 0.55 0.84 0.74
Fuel and Lube Prices (%) -5.42 -0.03 3.84 4.98 7.98 5.70
Labor (%) 1.86 1.45 1.53 1.84 1.98 1.69
Other Input Prices (%) 2.60 2.20 2.50 2.90 3.20 3.20
Non-Feed Dairy Costs (%) 0.21 2.77 3.86 4.12 4.78 3.82
Non-Feed Beef Costs (%) -0.13 0.79 1.26 1.63 2.09 1.61
Non-Feed Hog Costs (%) -1.56 3.04 5.20 4.42 5.35 2.85
Consumer Price Index 161.20 165.60 170.20 174.90 179.50 184.30 189.30
Annual Interest Rates
Long-Term (%) 6.80 6.70 6.81 6.83 6.79 6.92 6.96
Intermediate-Term (%) 7.98 7.75 7.70 7.54 7.32 7.25 7.25
Savings Account (%) 3.98 3.75 3.70 3.54 3.32 3.25 3.25
Annual Rate of Change
for U.S. Land Prices (%) 4.01 2.93 2.99 0.60 -0.13 -1.51
_______________________________________________________________________________________________
Source: Food and Agricultural Policy Research Institute (FAPRI) at the University of
Missouri-Columbia and Iowa State University.