The March 1, 1995, Hogs and Pigs report showed a significant re,risionof iowa's December 1, 1994, breeding herd inventory figures. The breeding herd inventory was revised up 100,000 head to 1.5 million from the initial release of the December 1, 1994, inventory report. This decreased the previously calculated liquidation by one-third, with breeding herd inventory falling 12 percent from Sep1ember 1, 1994, to December 1, 1994, ralher than 18 percent. With a revision in the breeding herd of 100,000 head in Iowa, the question becomes, did the USDA estimation procedure miss the real story of the period? To answer this question, we must look at the procedure and definitions involved.

Keith Heffernan joined CARD in November 1994 as assistant director. He brings to CARD an extensive background in agricultural policy development and implementation,

As we go to press, both the Senate and House are acting on proposals to put the federal budget on a path to be balanced by 2002.

Imagine what would happen to U.S. car sales if U.S. automakers offered only one model in one color. In all likelihood, car sales would fall as low-end customers mrned to motorbikes and h igh-end customers purcl1ased expensive imports. This would occur even if there were economies associa ted with 1Jroducing only a single model.