Appendix Six -- Comparing Financial Performance of 19 Graziers when Separated Into Top, Middle and Bottom Third Ranked by Three year Average NFIFO/Cow.  DRAFT
NFIFO = Net Farm Income from Operations
$NFIFO	Top (6)	Middle	Bottom	Average of 19 Graziers
1995	47,179	43,464	33,874	41,104
1996	69,158	46,949	16,612	42,786
1997	57,708	47,334	23,367	41,780
1998	92,980	67,583	44,353	67,045
$NFIFO/Forage Acre Harvested
1995	280	248	302	262
1998	546	413	343	387
4 Yr. Ave. (98 A.)	392	313	229	278
$NFIFO/ Cow
1995	963	790	719	819
1996	1,334	761	308	768
1997	1,128	740	424	737
1998	1,777	956	668	1,059
4 yr. Ave.	1,300	812	529	846
Cash Income/Cow
1995	2,867	2,566	2,148	2514
1996	3,411	2,739	2,064	2,695
1997	2,904	2,497	2,130	2,482
1998	3,502	2,765	2,471	2,844
Cash Expense/Cow
1995	1,832	1,898	1,607	1,777
1996	2,023	1,898	1,528	1,803
1997	1,717	1,842	1,712	1,760
1998	1,777	1,821	1,738	1,777
Basic Cost
1995
1996
1997
1998
Invest/ Cow
1995	7,182	5,728	5,554	6,116
1996	6,892	5,535	5,389	5,881
1997	7,195	5,818	6,012	6,280
1998	7,097	5,486	5,305	5,837
Debt/Cow
1995	782	2,955	2,208	2,027
1996	638	2,745	2,364	1,990
1997	507	2,804	3,087	2,251
1998	445	2,517	2,673	2,037
Numbers of Cows
1995	49.0	55.0	47.1	50.2
1996	51.8	61.7	54.0	55.7
1997	51.2	64.0	55.1	56.7
1998	52.3	70.7	66.4	63.3
Lbs. Milk Sold/Cow
1995	18,513	17,965	14,813	17,043
1996	18,942	16,498	12,445	15,769
1997	18,840	16,226	14,076	16,200
1998	19,399	16,321	14,010	16,231
Annual Ave.Milk Price
1995	13.63	13.22	13.36	13.4
1996	15.44	14.88	14.94	15.08
1997	13.42	13.17	13.19	13.26
1998	15.96	15.52	15.7	15.72
4 Year Ave.	14.61	14.20	14.30	14.36