Economic Outlook for Representative Cotton Farms Given the August 2004 FAPRI/AFPC Baseline

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative cotton farms are projected in this report. The analysis was conducted over the 2001-2008 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate cotton operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative cotton farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) August 2004 Baseline. The primary objective of the analysis is to determine cotton farms’ economic viability by region through the life of the 2002 Farm Bill. The FLIPSIM policy simulation model incorporates the historical price and production risk faced by cotton farmers. This report presents the results of the August 2004 Baseline in a risk context using selected simulated probabilities and ranges for annual net cash farm income values. The probability of a farm experiencing annual cash flow deficits and the probability of a farm losing real net worth are included as indicators of the cash flow and equity risks facing farms through the year 2008. This report is organized into five sections. The first section summarizes the process used to develop the representative farms and the key assumptions utilized for the farm level analysis. The second section summarizes the FAPRI August 2004 Baseline and the policy and price assumptions used for the representative farm analyses. The third section presents the results of the simulation analyses for cotton farms. Two appendices constitute the final sections of the report. Appendix A provides tables to summarize the physical and financial characteristics for each of the representative cotton farms. Appendix B provides the names of producers, land grant faculty, and industry leaders who cooperated in the panel interview process to develop the representative farms.Agribusiness, Agricultural and Food Policy, Crop Production/Industries,

Assessing Readiness for Clinical Practice: Students’ Perspectives of their Veterinary Curriculum

Studies describing the effectiveness of a veterinary curriculum from the student perspective are currently sparse. The overall purpose of this investigation was to describe students’ perceived preparedness for clinical practice. Three focus group meetings with fourth year veterinary students were conducted. Data were open-coded and categorized to identify themes. Four main themes emerged: Challenging communications, Un/appreciating curricular experiences, Documenting demands impede case involvement, and Hungering for timely, effective feedback. Overall students felt comfortable talking to clients about medicine but less comfortable discussing euthanasia or money; they appreciated the split clinical curriculum but questioned the value of the 1st/2nd year courses; they felt that paperwork on clinical rotations negatively impacted patient involvement; expressed the need for well-defined expectations regarding grading/assessment and autonomy on clinical rotations. Despite the reported issues, students expressed satisfaction with the split curriculum and readiness to enter their chosen field of study

Representative Farms Economic Outlook for the January 2007 FAPRI/AFPC Baseline

Under the January 2007 Baseline, 20 of the 64 crop farms are considered in good liquidity condition (less than a 25 percent chance of negative ending cash in 2012). Five crop farms have between a 25 percent and a 50 percent likelihood of negative ending cash. The remaining 39 crop farms have greater than a 50 percent chance of negative ending cash. Additionally, 30 of the 64 crop farms are considered in good equity position (less than a 25 percent chance of decreasing real net worth during the study period). Nine crop farms have between a 25 percent and 50 percent likelihood of losing real net worth, and 25 crop farms have greater than a 50 percent probability of decreasing real net worth. The following discussion provides an overall evaluation by commodity considering both liquidity and equity measures.Agribusiness, Agricultural and Food Policy, Crop Production/Industries, Livestock Production/Industries,

Representative Farms Economic Outlook for the August 2007 FAPRI/AFPC Baseline

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 (2002 Farm Bill) on representative crop, dairy, and livestock operations are projected in this report. The analysis was conducted over the 2007-2012 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate agricultural operations in the nation’s major production regions came from two sources: 1) Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. 2) Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) August 2007 Baseline. The FLIPSIM policy simulation model incorporates the historical risk faced by agricultural producers for prices and production. This report presents the results of the August 2007 Baseline in a risk context using selected simulated probabilities and ranges for annual net cash farm income values. The probability of a farm experiencing a negative ending cash balance and the probability of a farm losing real net worth are included as indicators of the cash flow and equity risks facing producers through the year 2012. This report is organized into ten sections. The first section summarizes the process used to develop the representative farms and the key assumptions utilized for the farm level analysis. The second section summarizes the FAPRI August 2007 Baseline and the policy and price assumptions used for the representative farm analyses. The third through sixth sections present the results of the simulation analyses for feed grain, wheat, cotton, and rice farms. The seventh and eighth sections summarize simulation results for dairy and cattle. Two appendices constitute the final sections of the report. Appendix A provides tables to summarize the physical and financial characteristics for each of the representative farms. Appendix B provides the names of producers, land grant faculty, and industry leaders who cooperated in the panel interview process to develop the representative farms.Agribusiness, Agricultural and Food Policy, Crop Production/Industries,

Representative Farms Economic Outlook for the January 2006 FAPRI/AFPC Baseline

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 (2002 Farm Bill) on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2006-2010 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming and ranching operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) January 2006 Baseline. The primary objective of the analysis is to determine the farms’ economic viability by region and commodity through the life of the 2002 Farm Bill. The FLIPSIM policy simulation model incorporates the historical risk faced by farmers and ranchers for prices and production. This report presents the results of the January 2006 Baseline in a risk context using selected simulated probabilities and ranges for annual net cash farm income values. The probability of a farm experiencing a negative ending cash balance and the probability of a farm losing real net worth are included as indicators of the cash flow and equity risks facing farms through the year 2010. This report is organized into ten sections. The first section summarizes the process used to develop the representative farms and the key assumptions utilized for the farm level analysis. The second section summarizes the FAPRI January 2006 Baseline and the policy and price assumptions used for the representative farm analyses. The third through sixth sections present the results of the simulation analyses for feed grain, wheat, cotton, and rice farms. The seventh and eighth sections summarize simulation results for dairy and cattle. Two appendices constitute the final section of the report. Appendix A provides tables to summarize the physical and financial characteristics for each of the representative farms. Appendix B provides the names of producers, land grant faculty, and industry leaders who cooperated in the panel interview process to develop the representative farms.Agribusiness, Agricultural and Food Policy, Crop Production/Industries, Livestock Production/Industries,

Representative Farms Economic Outlook for the December 2007 FAPRI/AFPC Baseline

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 (2002 Farm Bill) on representative crop, dairy, and livestock operations are projected in this report. The analysis was conducted over the 2007-2012 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate agricultural operations in the nation’s major production regions came from two sources: • Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. • Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) December 2007 Baseline. The FLIPSIM policy simulation model incorporates the historical risk faced by agricultural producers for prices and production. This report presents the results of the December 2007 Baseline in a risk context using selected simulated probabilities and ranges for annual net cash farm income values. The probability of a farm experiencing a negative ending cash balance and the probability of a farm losing real net worth are included as indicators of the cash flow and equity risks facing producers through the year 2012. This report is organized into ten sections. The first section summarizes the process used to develop the representative farms and the key assumptions utilized for the farm level analysis. The second section summarizes the FAPRI December 2007 Baseline and the policy and price assumptions used for the representative farm analyses. The third through sixth sections present the results of the simulation analyses for feed grain, wheat, cotton, and rice farms. The seventh and eighth sections summarize simulation results for dairy and cattle. Two appendices constitute the final sections of the report. Appendix A provides tables to summarize the physical and financial characteristics for each of the representative farms. Appendix B provides the names of producers, land grant faculty, and industry leaders who cooperated in the panel interview process to develop the representative farms.

Representative Farms Economic Outlook for the January 2003 FAPRI/AFPC Baseline

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2007 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) January 2003 Baseline. The primary objective of the analysis is to determine the farms’ economic viability by region and commodity throughout the life of the 2002 Farm Bill. The FLIPSIM policy simulation model incorporates the historical risk faced by farmers for prices and production. This report presents the results of the January 2003 Baseline in a risk context using selected simulated probabilities and ranges for annual net cash farm income values. The probability of a farm experiencing annual cash flow deficits and the probability of a farm losing real net worth are included as indicators of the cash flow and equity risks facing farms through the year 2007. This report is organized into ten sections. The first section summarizes the process used to develop the representative farms and the key assumptions utilized for the farm level analysis. The second section summarizes the FAPRI January 2003 Baseline and the policy and price assumptions used for the representative farm analyses. The third through sixth sections present the results of the simulation analyses for feed grain, wheat, cotton, and rice farms. The seventh through ninth sections summarize simulation results for dairy, cattle and hog farms. Two appendices constitute the final section of the report. Appendix A provides tables to summarize the physical and financial characteristics for each of the representative farms. Appendix B provides the names of producers, land grant faculty, and industry leaders who cooperated in the panel interview process to develop the representative farms.Agribusiness, Agricultural and Food Policy, Crop Production/Industries,

Representative Farms Economic Outlook for the August 2006 FAPRI/AFPC Baseline

The Agricultural and Food Policy Center (AFPC) at Texas A&M University develops and maintains data to simulate 100 representative crop, dairy, and livestock operations in major production areas in 28 states. The chief purpose of this analysis is to project those farms’ economic viability by region and commodity for 2006 through 2011. The data necessary to simulate the economic activity of these operations is developed through ongoing cooperation with panels of agricultural producers in each of these states. The Food and Agricultural Policy Research Institute (FAPRI) provided projected prices, policy variables, and input inflation rates in their August 2006 Baseline. Under the August 2006 Baseline, 14 of the 65 crop farms are considered in good liquidity condition (less than a 25 percent chance of negative ending cash in 2011). Ten crop farms have between a 25 percent and a 50 percent likelihood of negative ending cash. The remaining 41 crop farms have greater than a 50 percent chance of negative ending cash. Additionally, 23 of the 65 crop farms are considered in good equity position (less than a 25 percent chance of decreasing real net worth during the study period). Six crop farms have between a 25 percent and 50 percent likelihood of losing real net worth, and 36 crop farms have greater than a 50 percent probability of decreasing real net worth. The following discussion provides an overall evaluation by commodity considering both liquidity and equity measures.Agribusiness, Agricultural and Food Policy, Crop Production/Industries, Livestock Production/Industries,

Representative Farms Economic Outlook for the July 2002 FAPRI/AFPC Baseline

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2007 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) July 2002 Baseline. The primary objective of the analysis is to determine the farms’ economic viability by region and commodity throughout the life of the 2002 Farm Bill. The FLIPSIM policy simulation model incorporates the historical risk faced by farmers for prices and production. This report presents the results of the July 2002 Baseline in a risk context using selected simulated probabilities and ranges for annual net cash farm income values. The probability of a farm experiencing annual cash flow deficits and the probability of a farm losing real net worth are included as indicators of the cash flow and equity risks facing farms through the year 2007. This report is organized into ten sections. The first section summarizes the process used to develop the representative farms and the key assumptions utilized for the farm level analysis. The second section summarizes the FAPRI July 2002 Baseline and the policy and price assumptions used for the representative farm analyses. The third through sixth sections present the results of the simulation analyses for feed grain, wheat, cotton, and rice farms. The seventh through ninth sections summarize simulation results for dairy, cattle and hog farms. Two appendices constitute the final section of the report. Appendix A provides tables to summarize the physical and financial characteristics for each of the representative farms. Appendix B provides the names of producers, land grant faculty, and industry leaders who cooperated in the panel interview process to develop the representative farms.Agribusiness, Agricultural and Food Policy, Crop Production/Industries,

Representative Farms Economic Outlook for the January 2004 FAPRI/AFPC Baseline

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2008 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate farming and ranching operations in the nation’s major production regions came from two sources: - Producer panel cooperation to develop economic information to describe and simulate representative crop, livestock, and dairy farms. - Projected prices, policy variables, and input inflation rates from the Food and Agricultural Policy Research Institute (FAPRI) January 2004 Baseline. The primary objective of the analysis is to determine the farms’ economic viability by region and commodity through the life of the 2002 Farm Bill. The FLIPSIM policy simulation model incorporates the historical risk faced by farmers and ranchers for prices and production. This report presents the results of the January 2004 Baseline in a risk context using selected simulated probabilities and ranges for annual net cash farm income values. The probability of a farm experiencing annual cash flow deficits and the probability of a farm losing real net worth are included as indicators of the cash flow and equity risks facing farms through the year 2008. This report is organized into ten sections. The first section summarizes the process used to develop the representative farms and the key assumptions utilized for the farm level analysis. The second section summarizes the FAPRI January 2004 Baseline and the policy and price assumptions used for the representative farm analyses. The third through sixth sections present the results of the simulation analyses for feed grain, wheat, cotton, and rice farms. The seventh through ninth sections summarize simulation results for dairy, cattle and hog farms. Two appendices constitute the final section of the report. Appendix A provides tables to summarize the physical and financial characteristics for each of the representative farms. Appendix B provides the names of producers, land grant faculty, and industry leaders who cooperated in the panel interview process to develop the representative farms.Agribusiness, Agricultural and Food Policy, Crop Production/Industries,