SOUTHERN CALIFORNIA EGG PRODUCTION COSTS AND INCOME 1979 TO 2003

SOUTHERN CALIFORNIA EGG PRODUCTION COSTS AND INCOME 1979 TO 2003 Prepared by Don Bell, Poultry Specialist (emeritus) University of California April 2, 2004

SOUTHERN CALIFORNIA EGG PRODUCTION COSTS/INCOME - 1979 TO 2003 This publication summarizes the results of 25 years of costs of production and income studies for tabale eggs conducted in Southern California between 1979 and 2003 by the University of California Cooperative Extension. The data presented is based upon cost formulas developed by the University. Egg prices are those used by the industry to estabalish producer prices for each size category. These prices are then related to typical eg size proportions to establish "blend" egg prices (averaged for all eggs) for each month. Miscellaneous income during the early stages of this study included both incme for the sales of wastes and fowl. In later years, income from the sale of fowl and wastes became negligible. Feed prices are the averages of 2 to 6 major Southern California feed mills summarized by month. Data represents "typical" feed at delivered net prices. Feed conversion estimates are determined for each month and feed costs per dozen are calculated. Miscellaneous (other) costs were estimated to range from 17 to 21 cents per dozen. These costs include pullet depreciation, laabor, housing, management, interest, and miscellaneous. Pullet depreciation costs varied the most due to changes in feed prices. Estimated profits were calculated by subtracting costs from income. A summary of key factors during the 25 year period is shown below: Egg price for large eggs (cts/dozen) 54.6 Blend price for all eggs (cts/dozen) 49.2 Miscellaneous income (cts/dozen) 0.5 Total income (cts/dozen) 49.7 Feed cost per 100 lbs. ($/100 lbs) 7.7 Feed cost (cts/dozen) 28.6 Other costs (cts/dozen) 20.2 Total costs (cts/dozen) 48.8 Profit per dozen (cts/dozen) 0.8 Profit per hen (cts/hen) 18.0 Updated by Don Bell, April 5, 2004

Figure 2: Southern California Seasonal Costs and Income from Eggs 1979 to 2003 Cents/dozen 65 55 45 Costs Income 35 J F M A M J J A S O N D Costs 49 50 49 49 49 49 49 48 48 48 49 49 Income 55 51 55 49 40 42 43 47 49 49 57 59 Profits -5.5 1.8 5.8 -.3-8.6-6.4-6.1-1.6.2.3 8.4 9.6 Month Average Income Per Hen 1979-2003 $ per hen per y ear 3.00 2.50 2.00 1.50 1.00 0.50 0.00-0.50-1.00-1.50 '80 '85 '90 '95 '00 '03 Year

SOUTHERN CALIFORNIA EGG PRODUCTION COSTS/INCOME 1979/03 MO/YR Cincome $/CWT Cents per Cts/doz Hen/yr 1/79 57.0 53.0 1.4 54.4 6.89 28.8 17.4 46.2 8.2 2/79 56.6 52.6 1.4 54.0 7.02 29.6 17.4 47.0 7.0 3/79 61.1 56.7 1.4 58.1 7.14 29.7 17.4 47.1 11.0 4/79 58.3 53.7 1.4 55.1 7.16 29.7 17.4 47.1 8.0 5/79 49.3 45.3 1.4 46.7 6.97 28.3 17.4 45.7 1.0 6/79 47.9 43.1 1.4 44.5 7.25 28.8 17.4 46.2-1.7 7/79 46.0 40.1 1.4 41.5 7.93 31.2 17.4 48.6-7.1 8/79 46.7 39.0 1.4 40.4 7.49 29.2 17.4 46.6-6.2 9/79 49.1 42.9 1.4 44.3 7.46 29.4 17.4 46.8-2.5 10/79 43.6 38.3 1.4 39.7 7.57 30.1 17.4 47.5-7.8 11/79 53.0 48.7 1.4 50.1 7.42 30.1 17.4 47.5 2.6 12/79 59.8 55.0 1.4 56.4 7.54 31.2 17.4 48.6 7.8 AVG. 52.4 47.4 1.4 48.8 7.32 29.7 17.4 47.1 1.7 0.34 1/80 51.5 47.9 1.1 49.0 7.39 30.9 17.4 48.3 0.7 2/80 46.6 43.4 1.1 44.4 7.43 31.3 17.4 48.7-4.3 3/80 53.9 49.8 1.1 50.9 7.41 31.0 17.4 48.4 2.5 4/80 45.6 42.2 0.9 43.1 7.22 29.9 17.4 47.3-4.2 5/80 39.4 35.9 0.7 36.5 7.27 29.5 17.4 46.9-10.4 6/80 44.0 39.7 0.6 40.3 7.42 29.5 17.4 46.9-6.7 7/80 43.9 39.1 0.6 39.7 7.96 31.4 17.4 48.8-9.0 8/80 52.0 45.3 1.0 46.3 8.50 33.2 17.4 50.6-4.2 9/80 55.1 50.0 1.0 51.0 8.76 34.5 17.4 51.9-0.9 10/80 56.0 51.5 1.2 52.7 8.88 35.4 17.4 52.8-0.1 11/80 60.2 55.8 1.3 57.1 9.38 38.1 17.4 55.5 1.6 12/80 62.3 58.4 1.3 59.8 9.38 38.8 17.4 56.2 3.5 AVG. 50.9 46.6 1.0 47.6 8.08 32.8 17.4 50.2-2.6-0.52 1/81 56.7 52.2 1.0 53.2 9.31 38.9 20.0 58.9-5.7 2/81 60.5 56.8 1.1 57.8 9.03 38.1 20.0 58.1-0.3 3/81 56.3 52.7 1.1 53.7 8.91 37.2 20.0 57.2-3.5 4/81 57.2 53.1 1.0 54.1 9.00 37.3 20.0 57.3-3.2 5/81 47.8 44.1 1.0 45.1 8.99 36.5 20.0 56.5-11.4 6/81 50.4 45.8 0.7 46.6 8.86 35.3 20.0 55.3-8.7 7/81 51.8 45.8 0.6 46.4 8.85 34.9 20.0 54.9-8.5 8/81 54.6 48.5 0.7 49.2 8.54 33.3 20.0 53.3-4.1 9/81 62.6 56.9 0.7 57.6 8.11 32.0 20.0 52.0 5.7 10/81 63.0 58.0 0.8 58.7 7.80 31.0 20.0 51.0 7.7 11/81 67.2 63.0 0.8 63.8 7.82 31.8 20.0 51.8 12.0 12/81 58.6 55.2 0.8 56.0 7.80 32.3 20.0 52.3 3.7 AVG. 57.2 52.7 0.9 53.5 8.59 34.9 20.0 54.9-1.4-0.27 University of California 1

MO/YR Cents pincome $/CWT Cents per Cts/doz Hen/yr 1/82 56.1 52.9 0.7 53.6 7.91 33.1 20.0 53.1 0.5 2/82 60.2 56.8 0.6 57.4 7.95 33.6 20.0 53.6 3.9 3/82 61.3 57.6 0.7 58.4 7.90 33.0 20.0 53.0 5.3 4/82 55.7 52.0 0.7 52.7 7.99 33.1 20.0 53.0-0.3 5/82 48.9 44.4 0.6 45.0 8.14 33.0 20.0 53.0-8.0 6/82 45.8 42.0 0.6 42.6 8.20 32.6 20.0 52.6-10.0 7/82 46.9 41.8 0.6 42.4 8.12 32.0 20.0 52.0-9.6 8/82 43.1 36.5 0.6 37.1 7.92 30.9 20.0 50.9-13.8 9/82 52.7 47.0 0.7 47.6 7.72 30.4 20.0 50.4-2.8 10/82 49.4 44.1 0.8 44.9 7.62 30.3 20.0 50.3-5.5 11/82 45.2 41.4 0.8 42.2 7.58 30.8 20.0 50.8-8.6 12/82 55.0 50.7 0.9 51.6 7.87 32.6 20.0 52.6-1.0 AVG. 51.7 47.3 0.7 48.0 7.91 32.1 20.0 52.1-4.2-0.85 1/83 50.0 46.4 0.9 47.2 7.91 33.1 20.0 53.1-5.8 2/83 49.1 45.4 1.2 46.5 8.14 34.3 20.0 54.3-7.8 3/83 54.3 49.9 1.3 51.2 8.36 34.9 20.0 54.9-3.7 4/83 48.4 44.7 1.1 45.8 8.70 36.0 20.0 56.0-10.2 5/83 54.9 50.8 1.0 51.8 8.77 35.6 20.0 55.6-3.9 6/83 48.8 44.4 0.9 45.2 8.65 34.4 20.0 54.4-9.2 7/83 52.7 47.9 1.0 48.9 8.58 33.8 20.0 53.8-4.9 8/83 59.7 53.1 1.0 54.1 8.96 34.9 20.0 54.9-0.9 9/83 60.9 55.0 1.1 56.1 9.10 35.9 20.0 55.9 0.3 10/83 60.7 55.5 1.2 56.7 8.93 35.5 20.0 55.5 1.2 11/83 71.6 66.9 1.8 68.7 8.89 36.1 20.0 56.1 12.6 12/83 77.6 72.7 2.4 75.1 8.94 37.0 20.0 57.0 18.1 AVG. 57.4 52.7 1.2 53.9 8.66 35.1 20.0 55.1-1.2-0.24 1/84 89.2 83.9 3.1 87.0 8.90 36.7 20.0 56.7 30.4 2/84 81.9 76.8 2.4 79.2 8.59 35.8 20.0 55.8 23.4 3/84 77.6 72.8 1.9 74.7 8.54 35.2 20.0 55.2 19.5 4/84 81.7 76.5 1.4 77.9 8.67 35.4 20.0 55.4 22.5 5/84 60.2 55.5 1.0 56.5 8.66 34.6 20.0 54.6 1.9 6/84 49.9 44.1 0.7 44.8 8.66 34.0 20.0 54.0-9.2 7/84 45.3 39.0 0.7 39.7 8.43 32.7 20.0 52.7-13.0 8/84 49.4 42.3 0.8 43.1 8.10 31.1 20.0 51.1-8.0 9/84 49.0 42.6 0.9 43.5 7.98 31.0 20.0 51.0-7.5 10/84 46.3 41.8 0.9 42.7 7.72 30.3 20.0 50.3-7.6 11/84 53.7 49.8 0.9 50.7 7.61 30.4 20.0 50.4 0.3 12/84 56.0 52.0 1.0 53.0 7.50 30.6 20.0 50.6 2.4 AVG. 61.7 56.4 1.3 57.7 8.28 33.2 20.0 53.2 4.6 0.94 University of California 2

MO/YR Cents per doz INC. $/CWT Cents per doz cts/doz Hen/yr 1/85 44.8 41.8 1.1 42.9 7.39 29.0 19.8 48.8-5.9 2/85 52.4 48.9 1.0 49.9 7.35 29.1 19.8 48.9 1.0 3/85 58.5 54.3 0.9 55.2 7.36 28.9 19.8 48.7 6.5 4/85 47.8 44.2 0.8 45.0 7.44 28.9 19.8 48.7-3.7 5/85 39.1 35.9 1.0 36.9 7.27 27.6 19.8 47.4-10.6 6/85 44.6 40.7 1.1 41.8 7.22 26.9 19.8 46.7-4.9 7/85 46.4 41.3 1.2 42.5 7.34 27.0 19.8 46.8-4.3 8/85 52.0 45.7 1.5 47.3 7.05 25.7 19.8 45.5 1.8 9/85 57.1 51.8 1.4 53.2 7.00 25.8 19.8 45.6 7.7 10/85 59.2 54.7 1.5 56.2 7.09 26.4 19.8 46.2 10.0 11/85 63.2 58.9 2.0 60.9 7.04 26.8 19.8 46.6 14.3 12/85 66.0 61.9 1.6 63.5 7.19 27.9 19.8 47.7 15.8 AVG. 52.6 48.3 1.3 49.6 7.23 27.5 19.8 47.3 2.3 0.47 1/86 60.4 56.6 0.8 57.4 7.33 28.7 20.2 48.9 8.5 2/86 54.0 50.4 0.7 51.1 7.17 28.4 20.2 48.6 2.5 3/86 59.5 55.0 0.5 55.5 7.23 28.3 20.2 48.5 7.0 4/86 50.8 47.0 0.4 47.4 7.42 28.8 20.2 49.0-1.6 5/86 48.0 43.7 0.5 44.2 7.52 28.6 20.2 48.8-4.6 6/86 40.9 36.7 0.6 37.3 7.54 28.1 20.2 48.3-11.0 7/86 49.1 43.1 0.7 43.8 7.04 25.9 20.2 46.1-2.3 8/86 54.0 47.4 0.8 48.2 6.84 24.9 20.2 45.1 3.1 9/86 52.6 47.6 0.9 48.5 6.60 24.3 20.2 44.5 4.0 10/86 53.3 48.8 1.0 49.8 6.54 24.3 20.2 44.5 5.3 11/86 62.6 58.1 1.4 59.5 6.48 24.6 20.2 44.8 14.7 12/86 63.0 58.6 1.3 59.9 6.53 25.3 20.2 45.5 14.4 AVG. 54.0 49.4 0.8 50.2 7.02 26.7 20.2 46.9 3.3 0.68 1/87 56.4 52.6 1.3 53.8 6.32 24.8 20.2 45.0 8.8 2/87 56.0 52.2 1.5 53.6 6.33 25.1 20.2 45.3 8.3 3/87 46.4 43.1 1.1 44.2 6.39 25.0 20.2 45.2-1.0 4/87 45.5 42.3 0.8 43.2 6.67 25.9 20.2 46.1-3.0 5/87 37.1 33.2 0.5 33.7 6.84 26.0 20.2 46.2-12.5 6/87 40.2 35.7 0.4 36.1 6.96 25.9 20.2 46.1-10.0 7/87 40.9 35.5 0.5 36.0 6.86 25.2 20.2 45.4-9.5 8/87 36.1 30.8 0.4 31.2 6.71 24.4 20.2 44.6-13.5 9/87 51.1 45.7 0.4 46.1 6.64 24.4 20.2 44.6 1.5 10/87 40.1 36.1 0.5 36.6 6.72 25.0 20.2 47.2-10.6 11/87 44.9 41.6 0.5 42.1 6.89 26.2 20.2 46.4-4.2 12/87 40.0 37.1 0.4 37.5 7.16 27.8 20.2 48.0-10.5 AVG. 44.6 40.5 0.7 41.2 6.71 25.5 20.2 45.8-4.7-0.98 University of California 3

MO/YR Cents per doz INC $/CWT Cents per doz cts/doz Hen/yr 1/88 40.9 38.3 0.3 38.6 6.96 27.3 20.3 47.6-9.0 2/88 39.1 36.6 0.3 36.9 6.99 27.7 20.3 48.0-11.1 3/88 48.0 45.0 0.3 45.3 7.01 27.5 20.3 47.8-2.5 4/88 36.6 33.6 0.3 33.9 7.10 27.5 20.3 47.8-14.0 5/88 34.5 31.7 0.3 32.0 7.18 27.3 20.3 47.6-15.6 6/88 39.5 35.4 0.3 35.7 7.95 29.6 20.3 49.9-14.2 7/88 53.1 46.6 0.3 46.9 9.44 34.7 21.3 56.0-9.1 8/88 52.7 47.3 0.5 47.8 8.56 31.2 21.3 52.5-4.7 9/88 61.2 54.2 0.5 54.7 8.62 31.7 21.3 53.0 1.7 10/88 54.4 49.6 0.6 50.2 8.71 32.4 21.3 53.7-3.5 11/88 55.1 50.9 1.0 51.9 8.45 32.1 21.3 53.4-1.5 12/88 59.6 55.6 0.7 56.3 8.25 32.0 21.3 53.3 3.0 AVG. 47.9 43.7 0.5 44.2 7.94 30.1 20.8 50.9-6.7-1.41 1/89 63.8 59.9 0.6 60.5 8.37 32.3 20.6 52.9 7.6 2/89 55.5 52.0 0.7 52.7 8.21 32.0 20.6 52.6 0.1 3/89 79.9 74.9 1.0 75.9 8.27 31.9 20.6 52.5 23.4 4/89 57.5 53.4 0.9 54.3 8.19 31.3 20.6 51.9 2.4 5/89 54.0 49.9 0.8 50.7 8.17 30.5 20.6 51.1-0.4 6/89 58.3 53.1 0.8 53.9 8.10 29.6 20.6 50.2 3.7 7/89 60.9 54.3 0.6 54.9 8.14 29.5 20.6 50.1 4.8 8/89 70.0 62.9 0.6 63.5 7.94 28.4 20.6 49.0 14.5 9/89 72.7 66.2 0.6 66.9 7.91 28.6 20.6 49.2 17.7 10/89 70.5 64.6 0.6 65.2 7.72 28.2 20.6 48.8 16.4 11/89 78.1 72.2 0.6 72.9 7.55 28.2 20.6 48.8 24.1 12/89 80.0 74.4 0.6 75.0 7.45 28.4 20.6 49.0 26.0 AVG. 66.8 61.5 0.7 62.2 8.00 29.9 20.6 50.5 11.7 2.46 1/90 82.5 77.4 0.6 78.0 7.43 28.4 20.3 48.7 29.3 2/90 63.7 59.6 0.7 60.3 7.24 28.0 20.3 48.3 12.0 3/90 72.1 67.5 0.7 68.2 7.26 27.8 20.3 48.1 20.1 4/90 64.8 60.4 0.6 61.0 7.46 28.2 20.3 48.5 12.5 5/90 50.4 46.0 0.5 46.5 7.74 28.7 20.3 49.0-2.5 6/90 56.3 51.0 0.6 51.6 7.78 28.2 20.3 48.5 3.1 7/90 48.8 43.2 0.3 43.5 7.99 28.7 20.3 49.0-5.5 8/90 63.8 57.2 0.3 57.5 7.72 27.4 20.3 47.7 9.8 9/90 64.4 58.3 0.3 58.6 7.65 27.5 20.3 47.8 10.8 10/90 69.0 62.6 0.3 62.9 7.45 27.0 20.3 47.3 15.6 11/90 63.8 59.1 0.3 59.4 7.34 27.2 20.3 47.5 11.9 12/90 76.0 70.9 0.3 71.2 7.38 27.9 20.3 48.2 23.0 AVG. 64.6 59.4 0.5 59.9 7.54 27.9 20.3 48.2 11.7 2.45 University of California 4

MO/YR Cents per doz INC $/CWT Cents per doz cts/doz hen/yr 1/91 80.0 75.0 0.2 75.2 7.26 27.5 20.2 47.7 27.5 2/91 64.6 60.6 0.2 60.8 7.33 28.0 20.2 48.2 12.6 3/91 81.2 75.7 0.2 75.9 7.39 28.0 20.2 48.2 27.7 4/91 56.6 52.1 0.2 52.3 7.50 28.1 20.2 48.3 4.0 5/91 48.5 43.4 0.2 43.6 7.54 27.7 20.2 47.9-4.3 6/91 52.9 47.5 0.2 47.7 7.55 27.1 20.2 47.3 0.4 7/91 58.4 52.0 0.2 52.2 7.50 26.6 20.2 46.8 5.4 8/91 55.5 48.4 0.2 48.6 7.69 27.0 20.2 47.2 1.4 9/91 44.3 38.8 0.2 39.0 7.78 27.6 20.2 47.8-8.8 10/91 48.7 42.6 0.2 42.8 7.78 27.9 20.2 48.1-5.3 11/91 56.3 51.0 0.2 51.2 7.70 28.3 20.2 48.5 2.7 12/91 65.3 60.7 0.2 60.9 7.65 28.7 20.2 48.9 12.0 AVG 59.4 54.0 0.2 54.2 7.56 27.7 20.2 47.9 6.3 1.32 1/92 48.8 45.0 0.2 45.2 7.71 28.4 20.6 49.0-3.8 2/92 44.7 41.3 0.2 41.5 7.82 29.2 20.6 49.8-8.3 3/92 43.1 39.7 0.2 39.9 7.84 28.9 20.6 49.5-9.6 4/92 44.0 40.4 0.2 40.6 7.80 28.5 20.6 49.1-8.5 5/92 37.0 34.1 0.2 34.3 7.78 27.8 20.6 48.4-14.1 6/92 44.2 39.3 0.2 39.5 7.84 27.4 20.6 48.0-8.5 7/92 44.4 38.1 0.2 38.3 7.74 26.7 20.6 47.3-9.0 8/92 47.9 41.5 0.2 41.7 7.46 25.4 20.6 46.0-4.3 9/92 56.7 50.8 0.2 51.0 7.41 25.5 20.6 46.1 4.9 10/92 50.3 45.5 0.2 45.7 7.32 25.4 20.6 46.0-0.3 11/92 59.8 55.1 0.2 55.3 7.32 26.0 20.6 46.6 8.7 12/92 58.8 53.4 0.2 53.6 7.32 26.6 20.6 47.2 6.4 AVG 48.3 43.7 0.2 43.9 7.61 27.2 20.6 47.8-3.9-0.81 1/93 58.5 54.5 0.1 54.6 7.26 27.4 20.6 48.0 6.6 2/93 57.3 53.6 0.1 53.7 7.25 27.1 20.6 47.7 5.9 3/93 64.2 60.1 0.1 60.2 7.21 26.6 20.6 47.2 13.0 4/93 59.9 55.1 0.1 55.2 7.34 26.9 20.6 47.5 7.6 5/93 43.3 40.0 0.1 40.1 7.33 26.0 20.6 46.6-6.5 6/93 53.7 48.2 0.1 48.3 7.24 25.1 20.6 45.7 2.5 7/93 48.5 41.8 0.1 41.9 7.61 26.0 20.6 46.6-4.6 8/93 57.4 50.1 0.1 50.2 7.95 26.9 20.6 47.5 2.7 9/93 43.5 37.8 0.1 37.9 7.70 26.7 20.6 47.3-9.4 10/93 49.0 44.0 0.1 44.1 7.71 27.3 20.6 47.9-3.8 11/93 55.6 51.3 0.1 51.4 8.10 29.2 20.6 49.8 1.6 12/93 57.6 53.2 0.1 53.3 8.44 31.1 20.6 51.7 1.5 AVG 54.0 49.1 0.1 49.2 7.60 27.2 20.6 47.8 1.4 0.30 University of California 5

MO/YR Cents per doz INC $/CWT Cents per doz cts/doz Hen/yr 1/94 52.5 48.4 0.1 48.5 8.49 32.0 20.6 52.6-4.1 2/94 49.5 46.1 0.1 46.2 8.37 31.3 20.6 51.9-5.7 3/94 59.8 55.8 0.1 55.9 8.25 30.4 20.6 51.0 4.9 4/94 47.2 43.4 0.1 43.5 8.11 29.8 20.6 50.4-6.9 5/94 42.1 37.9 0.1 38.0 7.93 28.1 20.6 48.7-10.7 6/94 39.4 33.9 0.1 34.0 8.06 28.0 20.6 48.6-14.6 7/94 45.1 38.1 0.1 38.2 7.85 26.8 20.6 47.4-9.2 8/94 49.9 41.9 0.1 42.0 7.47 25.3 20.6 45.9-3.9 9/94 45.9 40.1 0.1 40.2 7.47 25.9 20.6 46.5-6.3 10/94 43.1 38.3 0.1 38.4 7.34 26.0 20.6 46.6-8.2 11/94 51.0 47.0 0.1 47.1 7.28 26.2 20.6 46.8 0.3 12/94 54.2 50.0 0.1 50.1 7.31 27.0 20.6 47.6 2.5 AVG 48.3 43.4 0.1 43.5 7.83 28.0 20.6 48.6-5.1 -$1.07 1/95 49.8 44.3 0.1 44.4 7.19 27.1 20.6 47.7-3.3 2/95 48.5 45.0 0.1 45.1 7.19 26.9 20.6 47.5-2.4 3/95 44.7 41.3 0.1 41.4 7.21 26.6 20.6 47.2-5.8 4/95 45.1 41.4 0.1 41.5 7.33 26.9 20.6 47.5-6.0 5/95 40.4 37.3 0.1 37.4 7.41 26.2 20.6 46.8-9.4 6/95 41.7 37.6 0.1 37.7 7.54 26.1 20.6 46.7-9.0 7/95 53.8 46.9 0.1 47.0 7.61 26.3 20.6 46.9 0.1 8/95 57.5 48.6 0.1 48.7 7.81 26.6 20.6 47.2 1.5 9/95 60.0 52.8 0.1 52.9 8.05 28.2 20.6 48.8 4.1 10/95 58.0 51.8 0.1 51.9 8.40 30.0 20.6 50.6 1.3 11/95 69.5 64.0 0.1 64.1 8.87 32.2 20.6 52.8 11.3 12/95 71.3 65.0 0.1 65.1 8.95 33.4 20.6 54.0 11.1 AVG 53.4 48.3 0.1 48.4 7.84 28.1 20.6 48.7-0.3 -$.06 1/96 66.8 62.3 0.1 62.4 9.28 35.0 21.3 56.3 6.1 2/96 67.1 62.9 0.1 63.0 9.46 35.4 21.3 56.8 6.2 3/96 73.5 68.4 0.1 68.5 9.71 35.8 21.6 57.4 11.1 4/96 66.8 60.7 0.1 60.8 9.92 36.4 21.7 58.1 2.7 5/96 56.6 51.2 0.1 51.3 10.66 37.7 21.9 59.6-8.3 6/96 61.8 55.1 0.1 55.2 10.75 37.3 21.9 59.2-4 7/96 64.1 55.9 0.1 56.0 11.02 37.6 21.9 59.3-3.5 8/96 72.1 62.4 0.1 62.5 10.61 35.9 21.7 57.6 4.9 9/96 75.0 65.9 0.1 66.0 10.48 36.4 21.7 58.1 7.9 10/96 68.5 62.4 0.1 62.5 9.42 33.4 21.4 54.8 7.7 11/96 79.6 73.5 0.1 73.6 8.48 30.5 21.3 51.8 21.8 12/96 84.4 77.9 0.1 78.0 8.41 31.0 21.3 52.3 25.7 Avg 69.7 63.2 0.1 63.3 9.85 35.2 21.6 56.8 6.5 $1.40 University of California 6

LARGE BLEND MISC TOTAL FEED FEED OTHER TOTAL NET $ per MO/YR Cents per doz INC $/CWT Cents per doz cts/doz Hen/yr 1/97 70.1 63.2 0.1 64.1 8.16 30.8 21.2 52.0 12.1 2/97 70.2 64.6 0.1 64.7 8.25 30.8 21.3 52.1 12.6 3/97 66.5 61.2 0.1 61.3 8.78 32.4 21.3 53.7 7.6 4/97 56.8 51.6 0.1 51.7 9.03 33.1 21.3 54.4-2.7 5/97 48.5 43.6 0.1 43.7 9.05 32.0 21.3 53.3-9.6 6/97 45.6 39.8 0.1 39.9 8.84 30.7 21.3 52.0-12.1 7/97 62.9 53.2 0.1 53.3 8.59 29.3 21.3 50.6-2.5 8/97 59.2 49.7 0.1 49.8 8.74 29.5 21.3 50.8-1.0 9/97 63.2 54.5 0.1 54.6 8.74 30.3 21.3 54.6-3.0 10/97 58.8 51.2 0.1 51.3 8.49 30.1 21.3 51.4-0.1 11/97 77.4 70.0 0.1 70.1 8.49 30.6 21.3 51.9 18.2 12/97 76.2 68.2 0.1 68.3 8.40 31.0 21.3 52.3 16.0 Avg 63.0 56.0 0.1 56.1 8.63 30.9 21.3 52.2 3.9 $0.84 1/98 66.0 59.8 0.1 59.9 7.89 29.7 21.0 50.7 9.2 2/98 53.7 48.3 0.1 48.4 7.70 28.8 21.0 49.8-1.4 3/98 62.5 56.3 0.1 56.4 7.61 28.1 21.0 49.1 7.3 4/98 55.6 49.1 0.1 49.2 7.42 27.2 21.0 48.2 1.0 5/98 38.6 33.9 0.1 34.0 7.31 25.9 21.0 46.9-12.9 6/98 50.8 42.8 0.1 42.9 7.22 25.1 21.0 46.1-3.2 7/98 44.5 37.4 0.1 37.5 7.40 25.2 20.6 45.8-8.3 8/98 56.8 47.3 0.1 47.4 7.07 23.9 20.4 44.3 3.1 9/98 56.2 47.5 0.1 47.6 6.54 22.7 20.1 42.8 4.8 10/98 58.5 51.2 0.1 51.3 6.37 22.6 20.1 42.7 8.6 11/98 63.6 58.2 0.1 58.3 6.62 23.8 20.1 43.9 14.4 12/98 67.5 61.2 0.1 61.3 6.66 24.6 20.1 44.7 16.6 Avg 56.2 49.4 0.1 49.5 7.15 25.6 20.6 46.3 3.3 0.69 1/99 62.4 56.3 0.1 56.4 6.62 23.5 20.0 43.5 12.9 2/99 50.3 45.9 0.1 46.0 6.54 23.7 20.0 43.7 2.3 3/99 56.5 51.1 0.1 51.2 6.42 22.8 19.5 42.3 8.9 4/99 43.4 38.7 0.1 38.8 6.48 22.6 19.5 42.1-3.3 5/99 37.1 33.1 0.1 33.2 6.45 22.3 19.5 41.8-8.6 6/99 36.9 31.7 0.1 31.8 6.44 22.0 19.5 41.5-9.7 7/99 40.4 33.6 0.1 33.7 6.38 21.4 19.5 40.9-7.2 8/99 50.7 42.0 0.1 42.1 6.43 21.1 19.5 40.6 1.5 9/99 40.1 34.5 0.1 34.6 6.48 21.7 19.5 41.2-6.6 10/99 27.8 23.9 0.1 24.0 6.47 22.1 19.5 41.6-17.6 11/99 44.2 38.9 0.1 39.0 6.49 22.4 19.5 41.9-2.9 12/99 39.3 35.3 0.1 35.4 6.47 22.5 19.5 42.0-6.6 Avg 44.1 38.8 0.1 38.9 6.47 22.3 19.6 41.9-3.1-0.65 University of California 7

LARGE BLEND MISC TOTAL FEED FEED OTHER TOTAL NET $ per MO/YR Cents per doz INC $/CWT Cents per doz cts/doz Hen/yr 1/00 43.8 39.9 0.1 40.0 6.50 23.1 19.5 42.6-2.6 2/00 44.3 40.4 0.1 40.5 6.64 24.0 20.0 44.0-3.5 3/00 36.2 32.0 0.1 32.1 6.79 24.1 20.0 44.1-12.0 4/00 48.4 42.8 0.1 42.9 6.90 24.0 20.0 44.0-1.1 5/00 27.4 24.7 0.1 24.8 7.05 24.3 20.5 44.8-20.0 6/00 40.2 34.7 0.1 34.8 6.96 23.8 20.0 43.8-9.0 7/00 33.3 27.8 0.1 27.9 6.71 22.5 20.0 42.5-14.6 8/00 48.0 40.8 0.1 40.9 6.34 20.8 19.5 40.3 0.6 9/00 41.0 36.2 0.1 36.3 6.49 21.8 19.5 41.3-5.0 10/00 49.6 44.1 0.1 44.2 6.69 22.9 20.0 42.9 1.3 11/00 58.0 52.8 0.1 52.9 6.85 23.6 20.0 43.6 9.3 12/00 68.0 61.8 0.1 61.9 7.13 24.8 20.5 45.3 16.6 Avg 44.9 39.8 0.1 39.9 6.75 23.3 20.0 43.3-3.3-0.69 1/01 56.6 53.0 0.1 53.1 7.21 25.6 21.0 46.6 6.5 2/01 49.3 46.0 0.1 46.1 6.97 25.2 21.0 46.2-0.1 3/01 50.4 46.7 0.1 46.8 6.98 24.8 21.0 45.8 1.0 4/01 54.4 50.4 0.1 50.5 6.79 23.6 21.0 44.6 5.9 5/01 34.3 31.5 0.1 31.6 6.68 23.0 21.0 44.0-12.4 6/01 34.6 30.8 0.1 30.9 6.71 23.0 21.0 44.0-13.1 7/01 34.3 29.7 0.1 29.8 6.82 22.9 21.0 43.9-14.1 8/01 40.0 34.4 0.1 34.5 6.98 22.9 21.0 43.9-9.4 9/01 34.2 29.4 0.1 29.5 6.99 23.4 21.0 44.4-14.9 10/01 38.8 34.5 0.1 34.6 6.83 23.4 21.0 44.4-9.8 11/01 46.6 42.0 0.1 42.1 6.69 23.1 21.0 44.1-2.0 12/01 42.8 38.8 0.1 38.9 6.77 23.6 21.0 44.6-5.7 Avg 43.0 38.9 0.1 39.0 6.87 23.7 21.0 44.7-5.7-1.20 1/02 47.0 43.7 0.1 43.8 6.88 24.4 19.9 44.3-0.5 2/02 39.0 36.0 0.1 36.1 6.82 24.7 19.9 44.6-8.5 3/02 52.7 47.5 0.1 47.6 6.84 24.3 19.9 44.2 3.4 4/02 35.0 32.1 0.1 32.2 6.89 24.0 19.9 43.9-11.7 5/02 30.9 28.2 0.1 28.3 7.00 24.2 19.9 44.1-15.8 6/02 44.4 39.5 0.1 39.6 7.03 24.0 19.9 43.9-4.3 7/02 38.0 33.1 0.1 33.2 7.47 25.0 20.1 45.1-11.9 8/02 44.1 37.0 0.1 37.1 7.89 25.9 20.3 46.2-9.1 9/02 38.8 34.0 0.1 34.1 8.08 27.1 20.3 47.4-13.3 10/02 38.4 34.8 0.1 34.9 7.81 26.7 20.3 47.0-12.1 11/02 59.2 55.0 0.1 55.1 7.63 26.3 19.8 46.1 9.0 12/02 54.1 49.5 0.1 49.6 7.54 26.2 19.8 46.0 3.6 Avg 43.5 39.2 0.1 39.3 7.32 25.2 20.0 45.2-5.9-1.24 University of California 8

LARGE BLEND MISC TOTAL FEED FEED OTHER TOTAL NET $ per MO/YR Cents per doz INC $/CWT Cents per doz cts/doz Hen/yr 1/03 53.4 49.4 0.1 49.5 7.40 26.3 20.5 46.8 2.7 2/03 52.4 48.7 0.1 48.8 7.45 27.0 20.5 47.5 1.3 3/03 56.3 51.6 0.1 51.7 7.52 26.7 21.0 47.7 4.0 4/03 57.0 52.3 0.1 52.4 7.55 26.3 21.0 47.3 5.1 5/03 45.6 42.3 0.1 42.4 7.63 26.3 21.0 47.3-4.9 6/03 54.7 49.7 0.1 49.8 7.63 26.1 21.0 47.1 2.7 7/03 56.6 51.0 0.1 51.1 7.53 25.2 21.0 46.2 4.9 8/03 69.8 62.0 0.1 62.1 7.42 24.3 20.5 44.8 17.3 9/03 70.3 62.7 0.1 62.8 7.69 25.8 21.0 46.8 16.0 10/03 76.6 71.0 0.1 71.1 7.75 26.5 21.0 47.5 23.6 11/03 95.5 88.7 0.1 88.8 8.19 28.3 21.5 49.8 39.0 12/03 89.6 83.1 0.1 83.2 8.26 28.7 21.5 50.2 33.0 Avg 64.8 59.4 0.1 59.5 7.67 26.5 21.0 47.4 12.1 2.59 SUMMARY - 1979 TO 2003 YEAR Cents per doz Income $/CWT Cents per doz cts/doz Hen/yr 1979 52.4 47.4 1.4 48.8 7.32 29.7 17.4 47.1 1.7 0.34 1980 50.9 46.6 1.0 47.6 8.08 32.8 17.4 50.2-2.6-0.52 1981 57.2 52.7 0.9 53.5 8.59 34.9 20.0 54.9-1.4-0.28 1982 51.7 46.8 0.7 48.0 7.91 32.1 20.0 52.1-4.2-0.84 1983 57.4 52.7 1.2 53.9 8.66 35.1 20.0 55.1-1.2-0.24 1984 61.7 56.4 1.3 57.7 8.28 33.2 20.0 53.2 4.6 0.92 1985 52.6 48.3 1.3 49.6 7.23 27.5 19.8 47.3 2.3 0.46 1986 54.0 49.4 0.8 50.2 7.02 26.7 20.2 46.9 3.3 0.66 1987 44.6 40.5 0.7 41.2 6.71 25.5 20.2 45.8-4.7-0.94 1988 47.9 43.7 0.5 44.2 7.94 30.1 20.8 50.9-6.7-1.34 1989 66.8 61.5 0.7 62.2 8.00 29.9 20.6 50.5 11.7 2.46 1990 64.6 59.4 0.5 59.9 7.54 27.9 20.3 48.2 11.7 2.45 1991 59.4 54.1 0.2 54.3 7.56 27.7 20.2 47.9 6.3 1.32 1992 48.3 43.7 0.2 43.9 7.61 27.2 20.6 47.8-3.9-0.81 1993 54.0 49.1 0.1 49.2 7.60 27.2 20.6 47.8 1.4 0.30 1994 48.3 43.4 0.1 43.5 7.83 28.0 20.6 48.6-5.1-1.07 1995 53.4 48.3 0.1 48.4 7.84 28.1 20.6 48.7-0.3-0.06 1996 69.7 63.2 0.1 63.3 9.85 35.2 21.6 56.8 6.5 1.40 1997 63.0 56.0 0.1 56.1 8.63 30.9 21.3 52.2 3.9 0.84 1998 56.2 49.4 0.1 49.5 7.15 25.6 20.6 46.3 3.3 0.69 1999 44.1 38.8 0.1 38.9 6.47 22.3 19.6 41.9-3.1-0.65 2000 44.9 39.8 0.1 39.9 6.75 23.3 20.0 43.3-3.3-0.69 2001 43.0 38.9 0.1 39.0 6.87 23.7 21.0 44.7-5.7-1.20 2002 43.5 39.2 0.1 39.3 7.32 25.2 20.0 45.2-5.9-1.24 2003 64.8 59.4 0.1 59.5 7.67 26.5 21.0 47.4 12.1 2.59 Average 54.2 49.2 0.5 49.7 7.70 28.6 20.2 48.8 0.8 0.18 University of California 9

ANNUAL PATTERN OF COSTS, PRICES AND INCOME BY MONTH 1979-2003 LARGE BLEND MISC TOTAL FEED FEED OTHER TOTAL Net MONTH Cents per doz Income $/CWT Cents per doz Cts/doz JAN 58.6 54.3 0.6 54.9 7.60 29.3 20.1 49.4 5.5 FEB 54.7 50.8 0.6 51.4 7.57 29.4 20.2 49.6 1.8 MAR 59.1 54.7 0.5 55.2 7.61 29.2 20.2 49.4 5.8 APR 52.8 48.5 0.5 49.0 7.68 29.2 20.2 49.3-0.3 MAY 43.8 39.9 0.4 40.3 7.73 28.7 20.2 48.9-8.6 JUN 46.7 41.7 0.4 42.1 7.78 28.3 20.2 48.5-6.4 JUL 48.4 42.3 0.4 42.7 7.88 28.3 20.2 48.5-6.1 AUG 53.7 46.5 0.4 46.9 7.77 27.6 20.2 47.9-1.6 SEP 54.3 48.1 0.5 48.6 7.74 27.9 20.2 48.2 0.2 OCT 53.3 48.0 0.5 48.5 7.65 28.0 20.2 48.3 0.3 NOV 61.4 56.6 0.6 57.1 7.65 28.5 20.2 48.7 8.4 DEC 63.3 58.4 0.6 59.0 7.69 29.2 20.2 49.4 9.6 University of California 10