A shift to worldwide free trade would improve prospects for U.S. livestock and grain producers. Both production and prices would be higher for meat animals and poultry, but but milk prices would be lower. Producers of peanuts, sugar, and some fruits and vegetables would face lower price and income prospects. For agriculture as a whole, expanded production and relatively strong prices would generate about 5 percent more in cash receipts. Production expenses would be higher. Without Government payments, realized net farm income would be a little lower than under continuation of present programs. But slight differences in prices could shift the balance either way.