C.5. Average Variable Interest Rates on Farm Loans Percent ___________________________________________________________________________ Other operating Intermediate non-real- Long-term real Quarter loans 1 estate loans estate loans ___________________________________________________________________________ Ninth (Minneapolis) Federal Reserve District (MI*, MN, MT, ND, SD, WI*) ___________________________________________________________________________ 2004: Q1... | 6.3 6.3 5.8 Q2... | 6.4 6.3 6.0 Q3... | 6.6 6.5 6.2 Q4... | 6.8 6.8 6.4 2005: Q1... | 7.1 7.1 6.7 Q2... | 7.4 7.3 6.9 Q3... | 7.7 7.7 7.2 Q4... | 8.1 8.0 7.6 2006: Q1... | 8.3 8.3 7.8 ___________________________________________________________________________ Tenth (Kansas City) Federal Reserve District (CO, KS, MO*, NE, NM*, OK, WY) ___________________________________________________________________________ 2004: Q1... | 6.7 6.6 6.1 Q2... | 6.7 6.6 6.1 Q3... | 7.3 6.8 6.4 Q4... | 7.3 7.1 6.6 2005: Q1... | 7.5 7.3 6.8 Q2... | 7.7 7.5 7.0 Q3... | 8.1 7.9 7.3 Q4... | 8.4 8.2 7.6 2006: Q1... | 8.6 8.4 7.9 ___________________________________________________________________________ Twelfth (San Francisco) Federal Reserve District (AL, AZ, CA, HI, ID, NV, OR, UT, WA) ___________________________________________________________________________ 2004: Q1... | 5.7 6.1 6.2 Q2... | 6.0 6.2 6.6 Q3... | 6.2 6.6 6.8 Q4... | 6.7 7.0 6.9 2005: Q1... | 7.1 7.3 7.3 Q2... | 7.4 7.7 7.5 Q3... | 7.9 8.0 7.8 Q4... | 8.8 8.8 8.5 2006: Q1... | 8.9 9.0 8.6 ___________________________________________________________________________ 1. Loans used primarily to finance such items as current crop production expenses and the care and feeding of livestock (including poultry). * State falls only partly within the indicated Reserve District. n.a. Not available. Source. Federal Reserve Bank quarterly surveys of agricultural credit conditions at commercial banks. 38