1. Economic Analysis Report from Ag. and Food Policy Center Joe L. Outlaw Professor and Extension Economist Texas AgriLife Extension USA Rice Producers’ Group Executive Committee and Farm Policy Task Force Meeting Irving, Texas July 15, 2012

2. Presentation Outline Update of AFPC Score for Senate and House More Detail About the Options Representative Farm Highlights

3. Comparison of CBO and FAPRI Rice Prices

10. Comparison of 5 year Olympic average prices and Average Cost of Production Across AFPC Farms in 2011 Corn Uses March 2012 CBO estimates for future price in olympic average calculation.

11. Comparison of 5 year Olympic average prices and Average Cost of Production Across AFPC Farms in 2011 Soybeans Uses March 2012 CBO estimates for future price in olympic average calculation.

12. Comparison of 5 year Olympic average prices and Average Cost of Production Across AFPC Farms in 2011 Rice Uses March 2012 CBO estimates for future price in olympic average calculation.

13. Rice Futures Price Discovery Periods

15. 2011 Characteristics of Panel Farms Producing Rice

19. Comparison of FAPRI Baseline Prices and Prices Used in the Declining Price Scenario

20. Summary of Old Crop Yields and Updated Yields

21. Results Indicating the Representative Farm’s Preference for Opting Out of ARC for a Larger SCO Payment Band or Remaining in ARC

22. All 64 Representative Farm’s Preferred Title I Safety Net Option of the Senate Individual and County ARC and the House RLC and PLC Alternatives.

28. Thanks!!! Joe Outlaw joutlaw@tamu.edu 979-845-5913 www.afpc.tamu.edu