Number of Beef Cow Farms by County, 2002

145

378

319

345 430 184

236

355

353 394

107

322

240

399

358 162

340

297 309

567

60

368

397

249

312

356

120

149

315

167

162

129

128

64

449

84

198

299

185

168 123

302

144

118

223

61

256

254

258

267

171

215 105

406

105 162

249

111

99

306 442

369

118 164

280 360 415

112

381 340 449 320 148 328

184

152 94

62

352

162

277 254

195

162

226 324 114 344 368

170

110

190 245 146

49

125

86 64 98 LYON SIOUX

PLYMOUTH

WOODBURY

MONONA

HARRISON

POTTAWATTAMIE

MILLS FREMONT PAGE TAYLOR RINGGOLD DECATUR WAYNE APPANOOSE DAVIS VAN BUREN

LEE

DES MOINES HENRY JEFFERSON WAPELLO MONROE LUCAS CLARKE UNION ADAMS MONTGOMERY

CASS ADAIR MADISON WARREN MARION MAHASKA KEOKUK WASHINGTON LOUISA

MUSCATINE SCOTT

CLINTON

JACKSON JONES

CEDAR

LINN

JOHNSON

BENTON

IOWA

TAMA

POWESHIEK JASPER

MARSHALL STORY

POLK DALLAS

BOONE GREENE

GUTHRIE AUDUBON

CARROLL CRAWFORD

SHELBY

IDA SAC

CHEROKEE BUENA VISTA POCAHONTAS HUMBOLDT

KOSSUTH

CALHOUN WEBSTER HAMILTON HARDIN GRUNDY BLACK HAWK BUCHANAN DELAWARE DUBUQUE

CLAYTON

ALLAMAKEE WINNESHIEK

FAYETTE

HOWARD MITCHELL WORTH WINNEBAGO

FLOYD CHICKASAW

BREMER BUTLER FRANKLIN WRIGHT

EMMET PALO ALTO

DICKINSON CLAY

OSCEOLA O'BRIEN

Number of Farms 0 to 99 100 to 199 200 to 349 350 to 1000

HANCOCK CERRO GORDO

Milk Cow Inventory by County, 2002

LYON SIOUX

PLYMOUTH

WOODBURY

MONONA

HARRISON

POTTAWATTAMIE

MILLS FREMONT PAGE TAYLOR RINGGOLD DECATUR WAYNE APPANOOSE DAVIS VAN BUREN

LEE DES MOINES HENRY JEFFERSON WAPELLO MONROE LUCAS CLARKE UNION ADAMS MONTGOMERY

CASS ADAIR MADISON WARREN MARION MAHASKA KEOKUK WASHINGTON LOUISA

MUSCATINE SCOTT

CLINTON

JACKSON JONES

CEDAR

LINN

JOHNSON

BENTON

IOWA

TAMA

POWESHIEK JASPER

MARSHALL STORY

POLK DALLAS

BOONE GREENE

GUTHRIE AUDUBON

CARROLL CRAWFORD

SHELBY

IDA SAC

CHEROKEE BUENA VISTA POCAHONTAS HUMBOLDT

KOSSUTH

CALHOUN WEBSTER HAMILTON HARDIN GRUNDY BLACK HAWK BUCHANAN DELAWARE DUBUQUE

CLAYTON

ALLAMAKEE WINNESHIEK

FAYETTE

HOWARD MITCHELL WORTH WINNEBAGO FLOYD CHICKASAW

BREMER BUTLER FRANKLIN WRIGHT

EMMET PALO ALTO

DICKINSON CLAY

OSCEOLA O'BRIEN

Number of Milk Cows Undisclosed 0 to 249 250 to 499 500 to 1,999 2,000 to 21,000

5,384 3,235 190

488 20,152

3,478 649 194 1075

343

5

632

248

296 391

378

1,018

2,391 3,241 18,874 12,235

18,671 10,853 4,101

4,722

0 262 1,426

630 1,270

975

683 686 121

504 288

216

297

355

253

83

209

23 104 97 1,417

195 13 246 644 615 314 1,530

2,758

1,664 5,302

2,949 15,004 20,844

2,724 5,797

2,815

630 479

809

494

900 809 2,149

257

350

731 85

928 528 180

261

293 165

262 0

168

783

HANCOCK CERRO GORDO

Inventory of Hogs by County, 2002 (in Thousand Head)

423

56

65

570 182 869

241

146

71 66

147

88

43

118

165 35

80

70 136

67

163

71

174

142

159

48

314

424

49

46

888

333

22

322

38

144

169

97

208

133 79

101

64

195

532

467

223

428

208

136

107

295 192

29

379 350

427

161

201

64 31

102

149 140

84 10 2

158

36 32 47 47 64

105

137 239

96

54

192

32 58

45

127

89 88 6 10

144

47

18 25 26

106

104

35 248 155 LYON SIOUX

PLYMOUTH

WOODBURY

MONONA

HARRISON

POTTAWATTAMIE

MILLS FREMONT PAGE TAYLOR RINGGOLD DECATUR WAYNE APPANOOSE DAVIS VAN BUREN

LEE

DES MOINES HENRY JEFFERSON WAPELLO MONROE LUCAS CLARKE UNION ADAMS MONTGOMERY

CASS ADAIR MADISON WARREN MARION MAHASKA KEOKUK WASHINGTON LOUISA

MUSCATINE SCOTT

CLINTON

JACKSON JONES

CEDAR

LINN

JOHNSON

BENTON

IOWA

TAMA

POWESHIEK JASPER

MARSHALL STORY

POLK DALLAS

BOONE GREENE

GUTHRIE AUDUBON

CARROLL CRAWFORD

SHELBY

IDA SAC

CHEROKEE BUENA VISTA POCAHONTAS HUMBOLDT

KOSSUTH

CALHOUN WEBSTER HAMILTON HARDIN GRUNDY BLACK HAWK BUCHANAN DELAWARE DUBUQUE

CLAYTON

ALLAMAKEE WINNESHIEK

FAYETTE

HOWARD MITCHELL WORTH WINNEBAGO

FLOYD CHICKASAW

BREMER BUTLER FRANKLIN WRIGHT

EMMET PALO ALTO

DICKINSON CLAY

OSCEOLA O'BRIEN HANCOCK CERRO GORDO

Number of Hogs Undisclosed 0 to 49,999 50,000 to 99,999 100,000 to 249,999 250,000 to 1,000,000

2,787

906

901

690 407,381

2,287,648

1,293 1,218

763

241,266

243

950

1,748

226,535

668

715

454 908

287,668 641

826

10,118

1,218

699

251 1,910

1,095

440

589

264

1,079 203

1,631,815 463,427

166,782

674

1,890

3,395 773

633 427 295

398

613 1,505 922 223 714

2,033

805

391 405 778

397

387 184 180 484 907

402

219

093 240

217

LYON SIOUX

PLYMOUTH

WOODBURY

MONONA

HARRISON

POTTAWATTAMIE

MILLS FREMONT PAGE TAYLOR RINGGOLD DECATUR WAYNE APPANOOSE DAVIS VAN BUREN

LEE

DES MOINES HENRY JEFFERSON WAPELLO MONROE LUCAS CLARKE UNION ADAMS MONTGOMERY

CASS ADAIR MADISON WARREN MARION MAHASKA KEOKUK WASHINGTON LOUISA

MUSCATINE SCOTT

CLINTON

JACKSON JONES

CEDAR

LINN

JOHNSON

BENTON

IOWA

TAMA

POWESHIEK JASPER

MARSHALL STORY

POLK DALLAS

BOONE GREENE

GUTHRIE AUDUBON

CARROLL CRAWFORD

SHELBY

IDA SAC

CHEROKEE BUENA VISTA POCAHONTAS HUMBOLDT

KOSSUTH

CALHOUN WEBSTER HAMILTON HARDIN GRUNDY BLACK HAWK BUCHANAN DELAWARE DUBUQUE

CLAYTON

ALLAMAKEE WINNESHIEK

FAYETTE

HOWARD MITCHELL WORTH WINNEBAGO

FLOYD CHICKASAW

BREMER BUTLER FRANKLIN WRIGHT

EMMET PALO ALTO

DICKINSON CLAY

OSCEOLA O'BRIEN

Number of Layers Undisclosed 0 to 499 500 to 999 1,000 to 1,499 1,500 to 2,300,000

HANCOCK CERRO GORDO

Number of Layers by County, 2002

Total U.S. Pork Exports

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,00019

90

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

Year (by quarter)

Met

ric T

ons

(Pro

duct

Wei

ght)

Sac

Linn

Lee

Ida

Tama

Clay Kosuth

Jasper

Lyon

Page

Storyr Jones

Fayette

Adair

Bentonn

Wapello

Pocahontas

Osceola

Jefferson

Audubon

Washington

BuenaVista

BlackHawk

Appanoose

CerroGordo

VanBuren

Mucatine

Dickenson

DesMoines

Winnebago

Montgomery

Iowa Corn Processing & Ethanol Plant Locations, Actual & Planned. 8/22/06,

PoweshiekPolk

BooneGreeneCarrollCrawford

Plymouth

O’Brien

Woodbury

Monona

Harrison Shelby

Wright Franklin

Floyd Chickasaw

Webster Hardin

Louisa

Emmet

Palo Alto

Hancock

Worth Mitchell HowardWinneshiek Allamakee

BremerButler

Hamilton GrundyBuchanan

Delaware

Dubuque

Jackson

Clintonn

Guthrie Dallas

Johnson

Marshall

Pottawattamie

Mills

Fremont

Madison

Warren Marion Mahaska

Keokuk

Adams Union Clarke Lucas Monroe

Taylor Ringgold

Cherokee

Calhoun

Decatur Wayne Davis

Henry

Scott

Humboldt

Clayton

Cedar

Sioux

Cass

Iowa*

**

*

*

*

*

* **

*

**

**

*

*

**

**

*

*

**

*

*

*

*

**

**

*

**

*

*

**

** * **

Sac

Linn

Lee

Ida

Tama

Clay Kosuth

Jasper

Lyon

Page

Storyr Jones

Fayette

Adair

Bentonn

Wapello

Pocahontas

Osceola

Jefferson

Audubon

Washington

BuenaVista

BlackHawk

Appanoose

CerroGordo

VanBuren

Mucatine

Dickenson

DesMoines

Winnebago

Montgomery

,

PoweshiekPolk

BooneGreeneCarrollCrawford

Plymouth

O’Brien

Woodbury

Monona

Harrison Shelby

Wright Franklin

Floyd Chickasaw

Webster Hardin

Louisa

Emmet

Palo Alto

Hancock

Worth Mitchell HowardWinneshiek Allamakee

BremerButler

Hamilton GrundyBuchanan

Delaware

Dubuque

Jackson

Clintonn

Guthrie Dallas

Johnson

Marshall

Pottawattamie

Mills

Fremont

Madison

Warren Marion Mahaska

Keokuk

Adams Union Clarke Lucas Monroe

Taylor Ringgold

Cherokee

Calhoun

Decatur Wayne Davis

Henry

Scott

Humboldt

Clayton

Cedar

Sioux

Cass

Iowa*

**

*

*

*

*

* **

*

**

**

*

*

**

**

*

*

**

*

*

*

*

**

**

*

**

*

*

**

** * **

*

*

*

* * *

*

*

*

*

62 Planned + current in Iowa11 Just across the borders

*

*

**

Current ethanol capacity: 147 plants, 8.6 billion gallons/year

Total capacity under construction and expansion: 5.1 billion gallons/year

55 new ethanol plants and 6 expansion projects underway

Source: Renewable Fuels Association

U.S. Ethanol Industry

2.2 billion bushels of corn were used in producing fuel ethanol in 2006/2007 marketing year.

3.1 billion bushels of corn are expected to be used in producing fuel ethanol for 2007/2008 marketing year.4.1 billion expected crush by summer of 2009

All other increases in

grain use29%

China10%

India18%

U.S. ethanol 43%

Change in world consumption of five major grains between the 2005/06 and 2007/08 marketing years

Source: Pat Westhoff

World consumption of five major grains, 2005/06 and 2007/08 marketing years

Source: Pat Westhoff

0.0

0.5

1.0

1.5

2.0

2.5

2005/06 2007/08

Billi

on m

etric

tons

U.S. ethanol

India

China

All other

Motivation – CBOT December 09 Weekly Corn Contract

Share of World Population

South America5.60%

Africa12.60%

Former Soviet Union5.10%

Europe9.00%

USA and Canada5.10%

Mexico1.60%

China21.50%

Japan2.20%

Vietnam1.30%

Other Asia34.20%

1.80%

Share of World Arable Land

South America6.60%

Africa12.60%

Former Soviet Union16.90%

Europe9.10%

USA and Canada17.20%

Mexico1.70%

China6.90%

Japan0.30%

Vietnam0.40%

Other Asia24.30%

4.00%

•

Poultry Price and Quantity Relationship

0.90

1.00

1.10

1.20

1.30

1.40

1.50

1.60

1.70

1.80

25.0 35.0 45.0 55.0 65.0 75.0Per Capita Consumption lbs

Ret

ail P

rice

($/lb

)19

82-8

4 =

100

Price - Quantity Relationship for Pork

1.20

1.40

1.60

1.80

2.00

2.20

2.40

2.60

40 45 50 55 60 65Retail Per Capita Consumption, Pounds

Ret

ail P

rice

1982

-84=

100 75

76

77

78

71

73

66

74

6579 72

6970

67

686364

808183

82

8687 90

91 84 888589 92

949395

9697 98

ISU Estimated Costs and Selling Prices, Farrow to Finish ($/cwt Live Wt)

$-

$10

$20

$30

$40

$50

$60

$70

Feed Variable Total Hog Price

July 29 Futures prices and historic basis

ProjectedReported