FEED OUTLOOK December 14, 1999 December 1999 FDS-1299 Approved by the World Agricultural Outlook Board -------------------------------------------------------------------------------- FEED OUTLOOK is issued 11 times a year by the Economic Research Service, U.S. Department of Agriculture, Washington, DC 20036-5831. Electronic release only; no published copies are available. FEED OUTLOOK is supplemented by an annual FEED YEARBOOK. The yearbook summary for 1999 was released on April 26, 1999. Yearbooks are available in print from ERS-NASS Order Desk. For the 1999 issue, call 1-800-999-6779 (703-605-6220) and ask for stock #ERS-FDS-1999, $21. -------------------------------------------------------------------------------- HIGHLIGHTS o Feed Grain Use Up Slightly from Last Month o Corn Feed and Residual Increased from Last Month o Sorghum Exports Raised from Last Month, Feed and Residual Lowered o Global Ending Stocks Decline, Small Increases in Forecast Coarse Grain Consumption and Trade FEED GRAIN SUPPLY INCREASES FROM LAST MONTH U.S. feed grain production in 1999 is forecast at 266 million metric tons, the same as a month ago but down 2 percent from 1998. Feed grain supply in 1999/2000 is forecast at 319.9 million tons, up very slightly from last month, and up 2 percent from 1998/99. Supplies are up from last year because of larger beginning stocks. Total feed grain use is projected at 263 million tons, up 1.2 million from last month and up 2.7 million from 1998/99. On a September-August marketing year, feed and residual use for the four feed grains plus wheat in 1999/2000 is up nearly 1 percent from last month and up 2 percent from last year. The projected index of grain consuming animal units (GCAUs) for 1999/2000 is 89.4 million units, unchanged from last month but up 1 percent from 1998/99. Feed and residual used per GCAU in 1999/2000 is 1.82 tons, up 1 percent from 1998/99, but down 3 percent from 1997/98. In the index components for 1999/2000, GCAUs for dairy and hogs are down and those for cattle and poultry are up. Increased cattle on feed on November 1, 1999, plus reduced prospects for wheat pasture, suggest cattle will go on feed rather than stay on pasture. CORN FEED AND RESIDUAL FORECAST RAISED FROM LAST MONTH U.S. corn supplies in 1999/2000 are forecast at 11,349 million bushels, up 5 million from last month and up 2 percent from 1998/99. Imports were raised slightly this month because of the increased corn crop in Canada. Corn use in 1999/2000 is up from last month, because of increased feed and residual use. Forecast feed and residual use was raised because of continued strong cattle movement into feedlots and reduced feed and residual use for sorghum and barley. Increased use lowered corn ending stocks 2 percent from last month but stocks are expected up 11 percent from last year. The forecast price for 1999/2000 is $1.60-$2.00 per bushel, unchanged from last month. In 1998/99, the season- average price received by farmers was $1.94. SORGHUM EXPORTS INCREASED THIS MONTH Sorghum supplies in 1999/2000 are unchanged from last month, up 16 percent from 1998/99. With reduced corn exports to Mexico, exports of sorghum are expected to increase. In 1999/2000, forecast exports are up 10 million bushels from last month. Feed and residual is expected to be lower than last month, reduced by the amount of increased exports. Forecast feed and residual use is up 20 percent from 1998/99's 262 million bushels. In the 1999/2000 marketing year, prices received by farmers for sorghum are expected to average $1.35 to $1.75, the same as last month. The midpoint of the 1999/2000 sorghum price is 86 percent of the midpoint of the expected corn price. The season average price for 1998/99 was $1.66 per bushel, which was 86 percent of the corn price. BARLEY IMPORTS LOWER Forecast barley imports in 1999/2000 were lowered 5 million bushels this month, in line with imports to date. Forecast barley supplies are down this month, and 10 percent below 1998/99's 501 million bushels. Feed and residual was reduced to reflect the reduced supplies this month, leaving ending stocks unchanged. Prices received by farmers in 1999/2000 are expected to average between $1.90 and $2.20, compared with $1.80 to $2.20 last month. Prices for 1998/99 averaged $1.98 per bushel. LDPs SUPPORT FEED GRAIN FARMERS' INCOME The 1996 Farm Act contained key policy tools to assist farmers when market prices are low. The key provisions are the "nonrecourse marketing assistance loans" and "loan deficiency payments" (LDPs). Producers that entered into Production Flexibility Contracts with USDA are eligible to participate in these programs. The nonrecourse marketing assistance loans provide interim financing to eligible producers of feed grains and other commodities covered by the program. Producers pledge their feed grains as collateral and obtain a loan equivalent to the loan rate established in their county by the Farm Service Agency of USDA. The loan proceeds can cover short term cash needs. As of December 13, 1999, feed grain producers had outstanding loans on 692 million bushels of 1999-crop feed grains. The value of the outstanding loans totaled $1,268 million, yielding an average loan value of $1.84 per bushel for corn, $1.71 per bushel for sorghum, $1.69 for barley, and $1.08 for oats. The loans may be forfeited to the Commodity Credit Corporation at maturity or repaid at the loan repayment rate at or before maturity. The loan repayment rate may actually be less than the loan rate (plus interest) if the local price--called the posted county price (PCP)--falls below the local loan rate. The PCP-- calculated each day the Federal Government is open--is based on terminal market prices and a fixed differential to each county, largely reflecting transportation and other marketing factors. When a farmer repays the loan at a lower PCP, the difference between the loan rate and the PCP is called a "marketing loan gain." If the PCP is under the county loan rate on the day the producer repays the loan, accrued interest on the loan is waived. If the PCP is below the county loan rate, eligible producers may opt for an LDP in lieu of securing a loan. The LDP rate is the amount by which the county loan rate exceeds the PCP on the date the application is made. The feed grain cannot be placed under loan once an LDP is paid. If producers take the LDPs and immediately sell their crop and if the PCP accurately reflects local prices, they effectively receive a per-unit revenue equal to the loan rate, partly from the market and partly from the government. After an LDP is accepted, the farmer can sell the crop and avoid storage expense or hold it in the expectation of a price rally later in the marketing season. As of December 13, 1999, eligible producers collected $1,363 million in LDP's covering 4,667 million bushels of 1999-crop corn or about 49 percent of the 1999 crop. The average payment rate was 29 cents per bushel on 617,468 contracts. In 1998, 58 percent of the corn produced received an LDP. For the 1999 crop, sorghum producers have collected $115 million in LDPs covering 372 million bushels or about 62 percent of the crop. The average payment rate was 31 cents per bushel on 91,178 contracts. In 1998, 67 percent of the sorghum crop received an LDP. For barley, producers have collected $32 million in LDPs covering 170 million bushels or about 60 percent of the crop. The average payment rate was 19 cents per bushel on 34,706 contracts. In 1998, 73 percent of the barley crop received an LDP. Oats producers have collected $25 million in LDPs covering 107 million bushels or about 73 percent of the 1999 crop. The average payment rate was 23 cents per bushel on 54,054 contracts. In 1998, 63 percent of the oats crop received an LDP. WORLD COARSE GRAIN ENDING STOCKS FORECAST FOR 1999/2000 REDUCED SLIGHTLY Several minor changes in consumption and trade accumulated this month to reduce projected 1999/2000 global coarse grain stocks 1.0 million tons. However, ending stocks are still forecast to increase by 1 percent compared to beginning stocks. Prices remain low because stocks are increasing even though world production is forecast down 2 percent from a year ago, mostly because of smaller corn crops in China and the United States. The largest increase this month in coarse grain consumption was in the United States, with foreign consumption practically unchanged. There are reduced consumption prospects for Brazil because of a lower corn crop, in Russia because of a smaller barley crop, and in Egypt, where the pace of corn imports has not been as strong as expected. These reductions offset increased consumption forecast this month for Canada, Malaysia, Mexico, Chile, Saudi Arabia, Taiwan, and others. The forecast for world coarse grain trade in 1999/2000 increased 0.8 million tons this month. Increases of 0.2 to 0.3 million tons for Taiwan, Thailand, Saudi Arabia, Malaysia, Chile, and other smaller increases more than offset the decline for Egypt. Continued low prices are likely contributing to marginally larger imports in many countries. However, world trade in 1999/2000 (on an October/September international marketing year, excluding intra-EU trade) is forecast at 94.8 million tons, 1.1 million lower than a year earlier, mostly because of larger crops and reduced imports in Mexico, the former Soviet Union, and Africa. Estimated 1998/99 trade was reduced this month by 0.6 million tons as exporters' data indicated lower than expected shipments, especially by Argentina. U.S. SORGHUM EXPORTS UP ON INCREASED SHIPMENTS TO MEXICO U.S. sorghum exports estimated for 1998/99 and forecast for 1999/2000 (October/September international marketing year) increased this month because of larger than expected shipments to Mexico. Census data indicated larger shipments during September than indicated by Inspections, boosting the 1998/99 estimate to 5.2 million tons, up slightly from the previous year. Another small increase is expected in 1999/2000 because the price of sorghum compared with corn in the U.S. Southwest is expected to remain attractive to Mexican buyers. Also with increased local corn production, Mexican feed grain importers may find it difficult to get additional corn import quotas, making them even more likely to turn to sorghum. ******************************************************** Information Contacts: Allen Baker (202) 694-5290 International: Edward Allen (202) 694-5288 Data Coordinator: Jenny Gonzales (202) 694-5296 The next Feed Outlook will be released January 14, 2000. ********************************************************** Table 1--Feed Grains: Marketing year supply and disappearance 1/ ------------------------------------------------------------------------------ Year/ Beg. Produc- Im- Supply FSI Feed & Ex- Total End. Farm Qtr. stocks tion ports resid. ports disp. stks. price ------------------------------------------------------------------------------ CORN ------------------------Million bushels--------------------- $/bu 1997/98 Sep-Nov 883 9,207 2 10,092 429 2,036 380 2,845 7,247 2.53 Dec-Feb 7,247 --- 1 7,248 418 1,510 380 2,308 4,940 2.55 Mar-May 4,940 --- 4 4,944 464 1,089 350 1,904 3,040 2.45 Jun-Aug 3,040 --- 2 3,042 470 870 394 1,734 1,308 2.12 Mkt. yr. 883 9,207 9 10,099 1,782 5,505 1,504 8,791 1,308 2.43 1998/99 Sep-Nov 1,308 9,761 4 11,073 444 2,127 450 3,021 8,052 1.90 Dec-Feb 8,052 --- 6 8,058 427 1,467 465 2,359 5,698 2.04 Mar-May 5,698 --- 7 5,706 489 1,103 497 2,089 3,616 2.04 Jun-Aug 3,616 --- 2 3,618 462 791 568 1,822 1,796 1.84 Mkt. yr.1,308 9,761 19 11,088 1,822 5,489 1,981 9,291 1,796 1.94 1999/00 Mkt. yr.1,796 9,537 15 11,349 1,880 5,550 1,925 9,355 1,994 1.60-2.00 SORGHUM 1997/98 Sep-Nov 47 634 0 681 18 239 49 307 374 2.26 Dec-Feb 374 --- 0 374 18 38 83 139 235 2.24 Mar-May 235 --- 0 235 12 71 55 139 96 2.16 Jun-Aug 96 --- 0 96 6 17 24 47 49 2.08 Mkt. yr. 47 634 0 681 55 365 212 632 49 2.21 1998/99 Sep-Nov 49 520 0 569 15 178 41 234 335 1.68 Dec-Feb 335 --- 0 335 15 34 64 113 222 1.70 Mar-May 222 --- 0 222 10 45 51 106 116 1.72 Jun-Aug 116 --- 0 116 6 5 41 51 65 1.61 Mkt. yr. 49 520 0 569 45 262 197 504 65 1.66 1999/00 Mkt. yr. 65 596 0 661 55 315 210 580 81 1.35-1.75 ------------------------------------------------------------------------------ Table 1--Feed Grains: Marketing year supply and disappearance, (cont.) 1/ ------------------------------------------------------------------------------ Year/ Beg. Produc- Im- Supply FSI Feed & Ex- Total End. Farm Qtr. stocks tion ports resid. ports disp. stks. price ------------------------------------------------------------------------------ BARLEY ----------------------Million bushels--------------------- $/bu 1997/98 Jun-Aug 109 360 12 482 44 87 24 155 327 2.31 Sep-Nov 327 --- 7 334 39 12 39 90 244 2.45 Dec-Feb 244 --- 8 252 37 29 6 72 180 2.42 Mar-May 180 --- 13 193 53 16 5 74 119 2.26 Mkt. yr. 109 360 40 510 172 144 74 390 119 2.38 1998/99 Jun-Aug 119 352 7 479 44 101 8 152 326 2.02 Sep-Nov 326 --- 7 333 39 16 8 63 271 1.97 Dec-Feb 271 --- 6 277 37 32 7 76 201 1.90 Mar-May 201 --- 9 210 51 12 5 68 142 1.84 Mkt. yr. 119 352 30 501 170 161 28 360 142 1.98 1999/00 Jun-Aug 142 282 6 429 44 81 9 134 295 2.00 Mkt. yr. 142 282 25 449 172 120 30 322 127 1.90-2.20 OATS 1997/98 Jun-Aug 67 167 19 253 24 74 0.4 98 155 1.62 Sep-Nov 155 --- 38 193 22 26 0.7 49 144 1.54 Dec-Feb 144 --- 26 170 21 38 0.5 59 111 1.59 Mar-May 111 --- 15 127 28 24 0.5 53 74 1.60 Mkt. yr. 67 167 98 332 95 161 2.1 258 74 1.60 1998/99 Jun-Aug 74 166 28 268 24 82 0.5 106 162 1.15 Sep-Nov 162 --- 36 198 22 32 0.4 54 143 1.08 Dec-Feb 143 --- 22 166 21 32 0.5 53 113 1.20 Mar-May 113 --- 22 134 28 25 0.3 53 81 1.23 Mkt. yr. 74 166 108 348 95 170 1.7 266 81 1.10 1999/00 Jun-Aug 81 147 22 250 24 78 0.6 102 147 1.10 Mkt. yr. 81 147 100 328 96 165 2.0 263 65 1.05-1.15 ------------------------------------------------------------------------------ Totals may not add due to rounding. 1/ Corn and sorghum are on a September 1 to August 31 marketing year. Barley and oats are on a June 1 to May 31 marketing year. Table 2--Feed and residual use of wheat and coarse grains ------------------------------------------------------------------------------ Year Feed Total Animal Feed/ Beginning Corn Sorg. Barley Oats Grains Wheat grains Units animal September 1 unit ------------------------------------------------------------------------------ ------------ Million metric tons --------------- Mil. Tons 1997/98 Sep-Nov 51.7 6.1 0.3 0.5 58.5 -3.1 55.5 Dec-Feb 38.3 1.0 0.6 0.6 40.6 0.0 40.6 Mar-May 27.7 1.8 0.3 0.4 30.2 0.3 30.5 Jun-Aug 22.1 0.4 2.2 1.3 26.0 11.6 37.6 Mkt. yr. 139.8 9.3 3.4 2.8 155.3 8.8 164.1 87.9 1.87 % Change 3.9 -29.3 -5.6 7.3 0.9 14.5 1.5 3.1 -1.5 1998/99 Sep-Nov 54.0 4.5 0.3 0.6 59.4 -2.0 57.4 Dec-Feb 37.3 0.9 0.7 0.5 39.4 0.3 39.7 Mar-May 28.0 1.2 0.3 0.4 29.9 0.9 30.8 Jun-Aug 20.1 0.1 1.8 1.2 23.2 7.6 30.8 Mkt. yr. 139.4 6.7 3.1 2.7 151.8 6.9 158.7 88.5 1.79 % Change -0.3 -28.1 -10.3 -3.6 -2.2 -22.1 -3.3 0.7 -4.0 1999/00 Mkt. yr. 141.0 8.0 2.7 2.7 154.3 8.0 162.4 89.4 1.82 % Change 1.1 20.1 -12.6 -0.7 1.6 17.1 2.3 1.0 1.3 ------------------------------------------------------------------------------ Table 3--Cash feed grain prices ------------------------------------------------------------------------------ Corn, Corn, Sorghum, Sorghum, Barley, Barley, Oats, No. 2, No. 2, No. 2, Yel No. 2, No. 2, No. 3 or No. 2, Yel, Yel, Texas Yel, feed, better, Heavy Ctrl. Gulf South Gulf Duluth Malting, white, IL ports Panhandle ports Minn. Minn. 1/ 1/ 1/ 1/ 2/ 2/ 2/ ------------------------------------------------------------------------------ Mkt. yr. $/bu $/bu $/cwt $/cwt $/bu $/bu $/bu 95/96 3.91 4.30 7.30 7.19 2.67 3.69 2.28 96/97 2.74 3.07 5.02 5.03 2.32 3.18 2.03 97/98 2.45 2.78 4.72 4.76 1.90 2.50 1.70 98/99 3/ 1.97 2.35 3.78 3.97 1.23 2.30 1.34 Monthly: 1998: Jul 2.16 2.55 4.70 4.33 1.23 NQ 1.42 Aug 1.86 2.24 4.97 4.13 NQ 2.30 1.21 Sep 1.78 2.18 4.81 3.84 NQ NQ 1.30 Oct 1.94 2.43 4.91 4.00 NQ NQ 1.29 1999: Jul 1.67 2.12 4.53 3.46 NQ NQ 1.25 Aug 1.84 2.20 4.15 3.77 NQ NQ 1.20 Sep 1.81 2.21 3.39 3.64 NQ NQ 1.17 Oct 1.72 2.17 3.30 3.55 NQ NQ 1.20 ------------------------------------------------------------------------------ 1/ Marketing year beginning September 1. 2/ Marketing year beginning June 1. 3/ Preliminary. NQ = No quote. Table 4--Selected feed and feed by-product prices ------------------------------------------------------------------------------ Soybean Cotton- Corn Corn Meat & Dists.' Wheat Alfalfa meal seed gluten gluten bone dried midlgs, farm 44% slv. meal, feed, meal, meal, grains, Kansas price Decatur, 41% slv. IL IL Central Lawrence- City IL Memphis pts. pts. U.S. burg, IN 1/ 1/ 1/ 1/ 1/ 1/ 1/ 2/ ------------------------------------------------------------------------------ ------------------------------$/ton----------------------------------- Mkt. yr. 95/96 217.27 186.12 116.47 319.35 222.07 151.37 118.08 87.20 96/97 260.37 191.47 93.05 341.50 272.44 142.87 91.18 101.80 97/98 186.55 150.40 69.65 290.45 192.56 109.76 76.30 107.00 98/99 130.56 109.86 59.87 234.72 137.32 85.77 54.74 91.00 Monthly: 1998: Jul 173.30 145.60 58.75 252.50 171.25 86.00 67.84 93.40 Aug 135.70 130.30 57.50 245.00 156.80 86.00 53.40 90.20 Sep 126.90 115.60 51.50 210.00 133.40 NQ 43.90 87.10 Oct 129.40 106.50 56.90 227.50 141.30 75.00 49.00 86.90 1999: Jul 125.71 115.00 51.75 241.25 133.75 91.67 39.20 82.00 Aug 135.90 100.65 54.30 252.50 139.61 NQ 44.91 81.50 Sep 144.06 111.92 55.50 258.13 142.21 88.00 57.64 77.30 Oct 147.19 111.83 58.38 265.00 150.17 88.00 54.83 76.00 ------------------------------------------------------------------------------ 1/ Marketing year beginning September 1. 2/ Marketing year beginning May 1. 3/ preliminary. NQ=No quote. Table 5--Corn: Food, and industrial uses ------------------------------------------------------------------------------ Glucose ---Alcohol--- Cereals and Bev. & other Total Year HFCS dex. Starch Fuel & Mfg products F&I ------------------------------------------------------------------------------ Million bushels 1997/98 Sep-Nov 122.8 63.4 59.6 116.1 33.2 34.0 429.1 Dec-Feb 116.8 56.2 56.7 122.2 32.8 33.6 418.3 Mar-May 139.4 60.7 58.3 118.3 33.5 34.4 444.5 Jun-Aug 153.4 64.7 58.9 124.6 33.5 34.4 469.4 Mkt year 532.3 244.9 233.5 481.1 133.0 136.5 1,761.2 1998/99 Sep-Nov 127.6 60.5 57.8 132.4 31.1 34.5 443.8 Dec-Feb 120.8 52.0 54.7 132.9 32.6 34.1 427.1 Mar-May 145.4 60.0 57.1 138.8 34.1 34.8 470.1 Jun-Aug 155.4 61.6 58.2 121.8 29.4 34.8 461.2 Mkt year 549.3 234.1 227.8 525.8 127.1 138.2 1,802.2 1999/00 Mkt year 565.0 240.0 235.0 550.0 129.9 140.0 1,859.9 ------------------------------------------------------------------------------ Table 6--Wholesale corn milling product and by-product prices ------------------------------------------------------------------------------ Corn meal, Brewers' Sugar, HFCS, 42% Corn starch, yellow, grits, destrose, tank cars, fob Midwest New York Chicago Midwest Midwest 3/ 4/ ------------------------------------------------------------------------------ $/cwt $/cwt cents/lb cents/lb $/cwt Mkt. yr. 1/ 95/96 17.79 14.21 25.50 13.01 15.98 96/97 16.94 12.85 25.50 13.15 13.83 97/98 15.94 11.85 28.08 7.77 13.55 98/99 2/ 15.06 11.00 24.24 8.04 12.28 Monthly 1998: Aug 14.62 10.52 30.65 7.05 12.67 Sep 14.58 10.48 30.65 7.14 11.92 Oct 14.89 10.99 30.65 7.40 11.71 Nov 15.07 10.97 30.65 7.65 12.10 1999: Aug 15.12 11.27 16.38 8.45 11.74 Sep 15.28 11.18 16.38 8.45 12.01 Oct 14.89 10.75 16.38 9.25 11.89 Nov 2/ 10.75 10.75 10.75 10.75 11.65 ------------------------------------------------------------------------------ 1/ Marketing year beginning September 1. 2/ Preliminary. 3/ Revised. 4/ Bulk-industrial, unmodified. Table 7--U.S. imports by country of origin ------------------------------------------------------------------------------ Country/region ------1997/98--- ------1998/99------ 1999/2000 Mkt. yr. Jun - Sep Mkt. yr. Jun - Sep Jun - Sep ------------------------------------------------------------------------------ OATS --------------------Thousand tons--------------------- Canada 1,282 546 1,142 549 517 Finland 161 25 216 105 24 Sweden 176 22 443 191 79 Total 1/ 1,696 593 1,856 846 620 BARLEY, MALTING Canada 733 241 567 124 129 Total 1/ 733 241 567 124 129 BARLEY, OTHER 2/ Canada 112 59 81 57 8 Total 1/ 143 59 81 57 8 ------------------------------------------------------------------------------ 1/ Totals may not add due to rounding. 2/ Mainly consists of barley for feeding, and also includes seed barley. Source: Bureau of the Census Table 8--U.S. feed grain exports by selected destinations 1/ ------------------------------------------------------------------------------ Country/region ------1997/98--- ------1998/99------ 1999/2000 Mkt. yr. Sept. Mkt. yr. Sept. Sept. ------------------------------------------------------------------------------ CORN Japan 14,581 1,534 15,110 1,059 1,379 S. Korea 3,593 297 6,462 208 527 Mexico 4,116 229 5,387 486 689 Taiwan 3,801 444 4,365 174 346 Egypt 1,808 216 3,159 359 275 Colombia 1,175 83 1,512 119 104 Venezuela 655 53 1,288 49 89 Saudi Arabia 971 110 1,182 68 60 Algeria 861 105 955 73 65 Canada 1,423 124 867 99 135 Dominican Republic 644 66 777 43 67 Turkey 379 28 692 3 0 Peru 253 0 674 117 78 Morocco 350 28 592 0 26 Chile 147 0 486 0 40 Former USSR 23 22 405 0 0 China 212 0 204 0 58 South Africa 0 0 143 0 48 Other Sub-Saharan 336 0 298 25 35 EU 147 1 192 31 0 East Europe 19 0 12 0 0 Others 2,623 260 5,464 266 816 Total 38,117 3,600 50,228 3,180 4,838 SORGHUM Mexico 3,222 144 3,103 205 397 Japan 1,650 252 1,362 57 175 Others 463 49 433 12 2 Total 5,334 444 4,899 274 574 ---------------------------------------------------------- ------1997/98--- ------1998/99------ 1999/2000 Mkt. yr. Jun-Sep Mkt. yr. Jun-Sep Jun-Sep BARLEY ---------------------------------------------------------- Saudi Arabia 922 515 0 0 0 Israel 0 0 0 0 0 Jordan 53 0 0 0 0 Japan 290 149 422 216 183 Mexico 124 39 94 30 31 Taiwan 94 60 0 0 0 Other 135 72 99 36 53 Total 1,617 834 615 283 267 ------------------------------------------------------------------------------ 1/ Totals may not add due to rounding. Source: Bureau of the Census. END_OF_FILE