IMPACTS OF EPA DAIRY WASTE REGULATIONS ON FARM PROFITABILITY

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Table 5. Analysis of the Environmental Compliance Costs for Dairy Farms Assuming Continuation of the FAPRI January, 1993 Baseline, Wisconsin, Vermont, _______New York, Washington, Missouri and Georgia.______________________________________________________________________________________________
	WIMD		WILD		VTMD		VTLD		NYCM		NYCL		WAMD		MOMD		GAMD		GALD
	BASE ENVIRO		BASE	ENVIRO	BASE	ENVIRO	BASE	ENVIRO	BASE	ENVIRO	BASE	ENVIRO	BASE ENVIRO		BASE	ENVIRO	BASE	ENVIRO	BASE	ENVIRO
Average Change in Real Net Worth (%)	7.44	6.04	37.10	35.80	-25.91	-30.82	-16.48	-21.10	-9.75	-12.41	22.24	20.69	-45.16	-47.64	7.35	5.18	-35.58	-43.89	-6.29	-18.51
Average Annual Ratio ExpenseZReceipts (%)	51.41	53.68	64.14	65.03	88.32	89.94	92.64	94.11	81.49	83.06	74.66	75.82	93.58	94.70	71.66	72.96	96.55	98.67	94.57	96.78
Average Present Value End Net Worth ($1000)	346.93	342.40	1195.70	1184.35	280.76	262.15	749.99	708.59	520.04	504.71	921.34	909.68	237.19	226.47	385.74	377.96	322.67	281.03	1117.69	971.87
Average Annual Cash Receipts ($1000)	125.53	125.53	499.98	499.98	218.24	218.24	525.46	525.46	297.12	297.12	506.58	506.58	489.58	489.58	221.47	221.47	435.50	435.50	1768.42	1768.42
Average Annual Cash Expenses ($1000)	64.51	67.36	320.55	325.04	192.66	196.20	486.59	494.32	241.91	246.54	377.87	383.72	457.94	463.38	158.67	161.56	420.41	429.63	1672.12	1711.18
Average Annual Cash Income ($1000)	61.03	58.18	179.43	174.94	25.58	22.04	38.86	31.13	55.21	50.58	128.72	122.87	31.64	26.20	62.80	59.90	3.02	-12.04	54.30	1.86
Average Annual Net Cash Income ($1000)
1992	57.75	57.75	170.87	170.87	33.86	33.86	55.75	55.75	58.08	58.08	125.06	125.06	40.84	40.84	60.52	60.52	16.14	6.17	90.80	53.80
1993	54.39	53.02	160.08	156.20	24.49	22.74	32.15	28.22	47.32	45.07	107.35	103.69	25.5	21.64	58.04	56.03	11.53	-2.84	63.37	15.39
1994	61.78	59.23	184.31	179.04	30.13	27.16	48.24	42.79	60.04	56.49	133.27	128.09	42.24	37.18	63.84	60.72	16.09	1.03	93.46	42.37
1995	58.56	55.92	172.20	169.91	22.60	19.15	28.44	22.76	54.21	50.41	119.24	113.79	24.84	19.54	58.50	55.20	-7.94	-23.76	21.69	-31.73
1996	62.58	59.89	192.58	191.29	25.84	21.52	35.77	29.56	61.27	57.22	135.37	130.27	33.74	28.59	64.67	61.14	-10.05	-27.08	32.36	-27.13
1997_________________	64.07	56.68	182.17	164.81	19.17	11.89	33.38	9.31	51.49	38.14	134.98	120.10	25.09	12.45	64.89	60.61	-7.67	-25.78	24.13	-41.57

Change in Real Net Worth—Percentage change in real net worth over the simulation period, 1992-1997.

Average Annual Ratio of Expenses to Receipts—Ratio of all cash expenses to all farm receipts including government payments.

Present Value Ending Net Worth—Discounted value of net worth in the last year simulated.

Annual Cash Receipts—Total cash receipts from crops, dairy, livestock, government payments and other farm related activities.

Annual Cash Expenses—Total cash costs for crops, dairy and livestock production, including interest costs and fixed cash costs; excludes depreciation.

Annual Net Cash Income—Total cash receipts minus total cash expenses; excludes family living expenses, principal payments and costs to replace capital assets.

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IMPACTS OF EPA DAIRY WASTE REGULATIONS ON FARM PROFITABILITY

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