Analysis of Cash Margin for New England Dairy Farmers - 1995 - 2000
-Impact of Compact Producer Payment, 1997 - 2000
	1995	1996	1997	1998	1999	2000
Price w/o Prod. Pay.	13.7	15.5	14.13	15.79	15.07	13.1
Producer Price	0	0	0.47	0.25	0.49	0.91
Net Farm Milk Price	13.7	15.5	14.6	16.04	15.56	14.01
Break-Even Milk Price	13.83	14.46	14.13	13.82	14.08	13.32
CASH MARGIN
Per cwt. Sold
w/o Compact	-0.13	1.04	0	1.97	0.99	-0.22
with Compact	-0.13	1.04	0.47	2.22	1.48	0.69
Per Cow
w/o Compact	-25	197	1	386	201	-44
with Compact	-25	197	91	435	301	140
Per Farm
w/o Compact	($4,086)	$29,136	$106	$61,423	$33,809	($7,459)
with Compact	($4,086)	$29,136	$14,676	$69,224	$50,616	$23,988
Compact Net Premium as
% CASH MARGIN	NA	NA	99%	11%	33%	131%
Note: Cash basis with no return in equity, management or depreciation included.
Source: The Northeast Dairy Farm Summary, Northeast Farm Credit Associations, various years.
Special analysis for Northeast Dairy Compact Commission, James Putnam,
First Pioneer Credit, ACA, August 2001.