Table 8.  Implications of the 1996 Farm Bill and FAPRI November 1996 Baseline on the Economic Viablility of
          Representative Farms Primarily Producing Cotton.
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                       CAC2000   CAC6000   TXSP1682  TXSP3697  TXRP1700  TXRP2500  TXBL1200  TXCB1700  MSC1635   MSC3620
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Change in Real Net Worth
1996-2002 (%)             5.43      9.63      6.29     40.77    14.80     11.36    -18.50    -53.74     -6.13      2.11

Government Payments/Receipts (%)
1996-2002 Average         6.63      4.70     10.75      8.87    14.47     14.73     11.84     15.49      6.55      6.26

Expenses to Receipts (%)
1996-2002 Average        84.71     81.00     73.33     73.24    74.46     79.93     85.31    101.86     88.58     84.62

Average Cash Receipts ($1000)
           1996        1879.64   5404.42    312.93    999.14   234.12    363.20    253.69    426.26    883.11   1792.09
           1997        1762.53   5227.46    296.50    948.33   217.50    338.20    236.80    401.75    839.46   1714.96
           1998        1782.17   5288.59    298.85    961.21   228.59    355.38    262.61    412.59    850.41   1733.08
           1999        1798.01   5347.80    301.01    971.72   231.56    359.86    248.91    418.29    851.99   1736.04
           2000        1820.12   5428.20    305.67    989.27   237.69    369.23    251.41    420.28    864.12   1761.97
           2001        1826.24   5471.15    306.08    996.01   236.84    367.74    252.14    419.99    869.05   1774.00
           2002        1844.37   5526.93    309.25   1007.27   243.17    377.64    254.27    426.05    881.04   1796.75
1996-2002 Average      1816.15   5384.94    304.33    981.85   232.78    361.61    251.40    417.89    862.74   1758.41

Average Government Payments ($1000)
           1996         112.17    217.33     26.10     72.36    23.97     38.00     23.04     47.01     47.84     91.47
           1997         133.07    285.75     32.01     91.86    28.93     45.79     27.36     54.45     62.78    121.81
           1998         137.00    290.45     31.33     89.69    30.81     48.76     32.23     60.69     65.27    128.33
           1999         135.62    289.88     31.94     91.46    28.59     45.29     30.06     59.00     64.84    127.09
           2000         121.64    256.13     28.63     81.58    26.68     42.25     27.87     54.68     57.33    112.07
           2001          96.90    202.50     23.41     66.12    21.81     34.53     23.14     45.64     44.67     86.96
           2002          95.68    201.61     24.30     68.23    23.81     37.62     22.22     44.23     44.19     85.69
1996-2002 Average       118.87    249.09     28.25     80.19    26.37     41.75     26.56     52.24     55.27    107.63

Average Net Cash Income ($1000)
           1996         375.28   1182.40    103.85    314.90    84.70    109.39     57.05     62.22    156.77    387.59
           1997         296.92   1105.04     96.13    289.76    70.43     89.35     42.94     31.82    114.95    306.40
           1998         311.60   1147.88     96.62    296.60    76.77     97.33     53.16     44.96    118.54    301.90
           1999         302.10   1112.08     93.99    288.66    74.78     95.74     50.53     38.95    105.13    275.05
           2000         289.69   1058.28     93.22    286.14    76.21     97.19     44.53     21.70     99.74    266.55
           2001         234.22    895.97     82.74    254.89    69.71     84.30     38.90      0.25     77.35    231.32
           2002         191.58    781.62     75.34    239.85    70.58     78.58     34.21    -16.86     61.51    213.36
1996-2002 Average       285.91   1040.47     91.70    281.54    74.74     93.13     45.90     26.15    104.85    283.17

Average Cash Reserve ($1000)
           1996         218.02    759.40     46.74    188.40    39.61     54.75     15.70     16.89     85.98    246.97
           1997         252.59    956.18     52.19    274.58    43.59     59.22      7.18     -9.88     81.23    302.91
           1998         293.98   1118.56     59.89    326.52    46.66     61.62      7.53    -24.00     86.49    344.53
           1999         305.97   1149.21     56.14    330.35    37.85     56.67      2.54    -47.80     69.95    342.32
           2000         321.62   1181.11     61.42    343.53    36.76     62.63    -18.00    -93.51     48.42    312.21
           2001         282.74   1080.83     56.43    312.87    23.97     50.77    -44.07   -159.73     -1.71    233.50
           2002         218.23    954.68     41.22    287.87    17.18     30.68    -63.20   -232.38    -44.83    184.81
1996-2002 Average       270.45   1028.57     53.43    294.87    35.09     53.76    -13.19    -78.63     46.50    281.03

Average Total Debt ($1000)
           1996         781.29   2613.31    112.84    241.02    76.72    104.34    101.49    121.40    321.20    700.45
           1997         764.20   2520.07    128.55    334.36   102.20    153.92     97.20    139.18    316.31    823.20
           1998         697.75   2397.97    126.89    365.60   113.45    139.90     94.58    154.37    330.33    868.82
           1999         623.27   2348.09     99.40    306.32   105.67    122.80    135.30    222.34    324.37    878.35
           2000         648.72   2420.63    108.32    328.44    98.98    115.15    127.03    240.39    359.99    884.45
           2001         745.68   2368.52    133.03    275.26    87.80    149.28    127.38    292.88    405.64    833.69
           2002         656.07   2344.30    110.79    211.68    79.17    140.40    142.12    353.30    407.57    843.98
1996-2002 Average       702.42   2430.41    117.12    294.67    94.85    132.26    117.87    217.69    352.20    833.28

Average Nominal Net Worth ($1000)
           1996        3607.94  12082.50    520.66    940.17   254.38    427.88    439.01    421.84   1252.00   2677.36
           1997        3813.98  12887.67    551.43   1045.06   265.25    444.91    445.19    409.38   1302.45   2808.65
           1998        3990.97  13532.97    572.03   1128.10   281.99    478.55    455.88    402.91   1334.80   2915.17
           1999        4135.22  14126.93    595.08   1201.92   297.71    506.98    453.76    380.92   1365.44   2992.68
           2000        4190.04  14394.79    606.10   1255.23   311.29    524.74    451.11    349.67   1361.62   3019.25
           2001        4190.20  14528.93    602.13   1301.28   317.84    523.85    439.94    296.42   1342.85   3029.41
           2002        4150.01  14418.30    600.28   1332.35   317.13    518.00    418.12    224.98   1311.51   2995.00
1996-2002 Average      4011.19  13710.30    578.24   1172.02   292.23    489.27    443.29    355.16   1324.38   2919.64

NIA for Total Real Net Worth 1996-2002
in Dollars ($1000)      -59.60   -444.09    -10.00   -105.28   -10.27    -12.02     28.00     50.43     19.54    -10.00

NIA for Total Real Net Worth 1996-2002
as % Receipts (%)        -3.28     -8.25     -3.32    -10.72    -4.41     -3.33     11.14     12.07      2.26     -0.57
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