C.2. Expected Farm Loan Volume for the Next Quarter, Compared with a Year Earlier
Percent
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                                                                          Purpose of loan
             ___________________________________________________________________________________________________________________________________

                           Total            Feeder cattle            Dairy            Crop storage           Operating         Farm machinery
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Quarter             Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher
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                                      Seventh (Chicago) Federal Reserve District (IL*, IN*, IA, MI*, WI*)
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2002: Q4...    |       19    58      23     21    70       9     20    74       6     23    73       4     14    50      36     30    54      15
                                                                                                                                                
2003: Q1...    |       23    53      24     19    73       8     24    71       5     26    72       2     14    46      40     32    56      12
      Q2...    |       18    65      18     17    78       6     19    75       6     23    71       5      9    63      28     29    59      12
      Q3...    |       17    61      22     22    65      13     17    78       5     21    71       8     11    60      30     26    61      13
      Q4...    |       15    58      27     31    59      10     13    80       7     17    76       8     11    54      35     17    55      28
                                                                                                                                                
2004: Q1...    |       13    56      31     20    71      10     15    73      12     11    71      18     16    50      34     12    42      46
      Q2...    |       17    60      22     26    64      10     18    73       9     12    74      14     15    63      21     13    53      33
      Q3...    |       13    60      27     27    64       9     15    79       6     12    66      22     11    58      31     11    50      39
      Q4...    |        9    58      33     14    75      10     12    81       7     10    77      13     10    50      40      8    53      39
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                                           Eleventh (Dallas) Federal Reserve District (LA*, NM*, TX)
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2002: Q4...    |       22    66      12     26    58      15     19    75       6     18    76       6     20    64      16     29    62       9
                                                                                                                                                
2003: Q1...    |       20    67      13     22    69      10     14    84       3     11    85       4     16    67      17     28    60      11
      Q2...    |       16    66      18     17    70      13     16    79       6     19    75       6     15    69      16     24    68       9
      Q3...    |       17    72      12     16    65      19     14    81       6     12    85       3     11    76      13     21    75       4
      Q4...    |       18    68      13     22    62      16     17    80       3     14    84       2     10    76      13     15    74      11
                                                                                                                                                
2004: Q1...    |       11    70      19     13    75      12     11    83       6     11    86       3     11    72      17     10    76      14
      Q2...    |       16    68      16     27    60      13     15    81       4     11    85       4     15    70      16     15    69      16
      Q3...    |       16    61      23     23    61      16     11    84       4      7    83      10      9    64      27     12    73      15
      Q4...    |       12    71      17     13    72      15     11    89       0      9    84       7      7    74      19     11    73      16
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                                        Fifth (Richmond) Federal Reserve District (MD, NC, SC, VA, WV*)
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2002: Q4...    |       27    53      20     15    69      15     21    71       7     40    53       7     30    50      20     45    50       5
                                                                                                                                                
2003: Q1...    |       29    53      18     13    75      13     19    75       6     17    67      17     23    55      23     38    57       5
      Q2...    |       25    60      15     24    71       6     31    63       6      6    78      17     19    71      10     33    62       5
      Q3...    |       14    71      14      7    80      13     33    60       7     11    74      16     10    81      10     33    48      19
      Q4...    |       21    74       5     12    82       6     17    78       6     15    75      10     14    82       5      9    77      14
                                                                                                                                                
2004: Q1...    |       10    81      10     17    61      22     24    71       6     23    68       9     12    76      12     20    64      16
      Q2...    |        4    92       4      0    89      11      0    94       6      9    86       5      8    84       8     12    68      20
      Q3...    |       30    61       9     22    67      11     32    63       5     39    57       4     23    69       8     27    62      12
      Q4...    |       22    65      13     18    71      12     17    72      11     13    78       9     20    60      20     28    60      12
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   * State falls only partly within the indicated Reserve District.
   Source. Federal Reserve Bank quarterly surveys of agricultural credit conditions at commercial banks.

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