AVERAGE PRICES RECEIVED BY IOWA FARMERS COWS - DOLLARS PER CWT. (MARKET YEAR IS JANUARY-DECEMBER) --------------------------------------------------------------------------- 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 --------------------------------------------------------------------------- JAN 13.30 11.00 9.70 9.70 10.60 14.90 17.90 14.90 14.50 14.70 FEB 13.00 11.00 10.70 10.60 11.00 15.40 18.00 15.20 15.10 14.50 MAR 12.80 11.80 11.10 11.10 12.10 16.40 17.40 16.40 15.40 14.60 APR 13.00 11.50 11.90 11.30 12.70 17.90 18.30 15.90 15.90 14.50 MAY 13.20 12.40 11.40 11.40 13.40 18.80 18.70 16.10 15.30 14.70 JUN 10.70 12.10 12.50 11.10 14.10 18.60 19.00 16.20 15.80 15.40 JUL 12.00 9.90 12.00 10.70 13.90 17.60 17.80 15.10 14.20 14.50 AUG 10.30 10.10 10.50 10.60 12.70 17.20 16.50 14.10 15.10 14.70 SEP 10.40 10.10 10.00 10.60 12.70 17.70 16.40 14.30 14.20 15.10 OCT 9.60 9.50 10.20 9.90 12.90 17.10 15.40 13.00 14.00 14.20 NOV 9.40 9.00 8.80 9.60 12.60 17.40 13.00 13.00 13.80 13.60 DEC 9.40 8.80 8.80 9.60 13.70 16.40 13.40 13.80 14.10 12.80 MARKET YR AVG 11.30 10.60 10.50 10.40 12.60 17.00 16.40 14.70 14.60 14.30 PRICE --------------------------------------------------------------------------- 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 --------------------------------------------------------------------------- JAN 13.70 13.00 11.40 14.30 16.40 15.60 16.50 19.90 19.00 21.50 FEB 13.50 13.30 12.40 16.70 17.00 17.00 18.00 21.40 20.90 23.10 MAR 14.40 13.90 13.10 15.30 17.40 18.40 19.10 23.20 21.60 24.00 APR 14.70 13.90 13.70 18.90 17.10 18.80 20.50 23.00 21.10 24.10 MAY 14.80 13.70 14.30 19.10 17.70 18.80 22.10 22.80 22.50 25.90 JUN 15.10 13.10 15.30 18.80 18.10 19.00 22.10 23.00 22.50 25.40 JUL 14.30 12.80 15.10 17.40 18.60 18.90 21.60 21.50 21.60 26.30 AUG 14.60 12.30 14.80 18.60 18.10 18.30 21.60 21.20 21.70 26.30 SEP 14.40 13.60 14.40 18.00 16.90 17.90 21.00 21.00 21.60 25.10 OCT 13.40 12.40 13.90 17.20 16.20 17.50 20.10 20.50 22.10 25.00 NOV 12.40 11.70 13.30 15.80 15.40 16.80 19.60 18.50 21.20 24.50 DEC 11.50 11.00 13.70 14.90 15.60 17.00 19.00 18.00 21.00 24.30 MARKET YR AVG 13.60 12.80 13.70 16.90 16.80 17.70 19.80 21.00 21.30 24.40 PRICE --------------------------------------------------------------------------- 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 --------------------------------------------------------------------------- JAN 25.30 32.60 16.10 22.20 23.00 26.60 47.60 47.40 40.60 36.60 FEB 30.10 32.60 17.90 26.40 23.30 30.90 49.70 51.30 45.20 38.30 MAR 34.20 33.30 19.10 28.20 26.50 34.20 53.00 49.50 44.10 39.20 APR 32.90 31.00 21.00 30.80 28.80 35.60 55.80 45.00 46.20 39.40 MAY 35.00 29.30 23.40 29.60 28.50 40.80 57.00 43.00 42.10 42.10 JUN 32.50 25.80 22.00 26.70 24.10 38.40 50.20 44.50 44.60 42.20 JUL 34.30 25.50 21.40 25.40 25.40 40.40 50.30 44.00 44.20 42.20 AUG 38.60 25.10 21.10 24.50 26.10 37.50 48.70 45.50 43.70 42.70 SEP 36.70 22.60 22.60 23.40 26.40 40.40 49.40 46.80 43.70 39.20 OCT 33.60 20.30 20.90 22.80 24.20 41.10 47.40 44.10 40.30 37.70 NOV 30.30 17.10 20.50 19.70 23.20 40.20 46.40 43.40 36.90 36.10 DEC 28.90 17.00 20.70 20.80 23.40 41.50 45.90 43.10 34.50 35.50 MARKET YR AVG 31.90 26.10 20.40 24.90 24.90 37.10 49.80 46.00 41.70 38.90 PRICE --------------------------------------------------------------------------- 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 --------------------------------------------------------------------------- JAN 37.80 33.20 37.10 33.20 38.30 45.40 46.90 50.10 52.20 46.20 FEB 43.50 39.00 41.10 36.20 41.00 47.20 51.80 53.50 53.90 50.00 MAR 44.50 43.10 40.80 36.40 43.20 49.00 48.30 53.20 55.70 47.50 APR 45.80 41.60 39.50 34.20 43.50 49.80 46.30 54.10 54.50 49.40 MAY 41.70 41.40 39.90 35.50 42.20 48.20 47.70 54.40 55.30 50.20 JUN 42.40 41.20 38.10 37.00 44.00 42.10 47.60 55.10 54.10 48.90 JUL 40.20 41.00 35.80 36.90 43.90 44.00 48.70 54.70 51.80 48.90 AUG 39.70 38.10 35.30 36.20 44.20 46.30 49.70 55.90 50.40 50.40 SEP 34.80 35.60 34.40 36.50 45.50 46.00 50.20 54.40 49.70 47.70 OCT 33.60 35.40 33.50 35.90 44.60 45.30 48.40 50.80 47.20 46.00 NOV 33.10 33.40 32.80 34.50 43.00 43.90 46.90 47.60 44.60 44.20 DEC 32.50 33.40 32.30 34.40 44.80 45.10 48.30 51.80 45.50 46.10 MARKET YR AVG 38.50 37.70 36.40 35.40 43.00 46.10 48.20 52.60 50.80 47.90 PRICE --------------------------------------------------------------------------- 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 --------------------------------------------------------------------------- JAN 48.10 44.20 39.10 31.80 30.00 36.80 33.70 37.90 38.50 37.70 FEB 50.00 46.60 42.10 32.20 37.30 38.30 36.20 39.60 42.70 41.10 MAR 48.50 46.80 40.70 32.20 39.50 38.20 38.40 42.60 41.20 41.60 APR 49.20 46.90 38.60 29.50 40.40 37.80 37.60 43.00 43.10 40.20 MAY 51.60 46.30 37.70 31.10 40.30 38.90 38.20 41.60 43.80 40.30 JUN 52.10 44.00 38.80 30.30 40.00 37.70 38.30 41.30 45.10 40.10 JUL 51.00 43.60 36.50 30.70 40.30 36.80 39.30 41.00 44.70 35.50 AUG 50.00 42.70 36.40 31.60 37.60 35.10 38.30 40.70 42.40 36.70 SEP 47.90 41.00 34.40 30.30 36.90 33.10 35.30 39.60 40.70 34.50 OCT 44.00 38.60 32.30 32.70 34.90 30.60 35.10 37.90 36.70 32.40 NOV 43.00 36.80 29.20 27.50 36.90 29.80 35.10 36.60 35.60 32.00 DEC 43.80 37.20 30.20 27.70 37.20 32.40 37.50 37.90 33.70 32.70 MARKET YR AVG 47.70 42.10 36.30 31.00 37.40 35.20 36.90 37.50 42.40 36.90 PRICE --------------------------------------------------------------------------- 2003 2004 2005* 2006 2007 2008 2009 2010 2011 2012 --------------------------------------------------------------------------- JAN 37.40 44.70 49.60 FEB 38.00 43.30 53.30 MAR 39.90 46.20 55.50 APR 40.00 50.40 59.00 MAY 42.20 53.80 63.50 JUN 42.50 55.70 59.00 JUL 44.60 57.00 54.00 AUG 45.10 53.10 52.00 SEP 46.80 52.70 51.20 OCT 47.20 48.50 45.00 NOV 48.30 48.70 DEC 49.80 47.30 MARKET YR AVG 43.40 49.90 PRICE ---------------------------------------------------------------------------- *Preliminary.