Ky.’s farm cash receipts could surpass $5B
Posted: Tuesday, December 6, 2011 8:03 pm
By BRUCE SCHREINER
LOUISVILLE, Ky. (AP) — Kentucky’s agriculture economy is on a pace to surpass $5 billion in cash receipts for the first time.
University of Kentucky agriculture economists point to high grain prices and strong exports as farm cash receipts are projected to total 5.2 billion to 5.4 billion in 2011. That compares to $4.4 billion last year.
The economists say there has been almost across-the-board improvement in returns for corn, soybeans, wheat, cattle, horses, hogs and dairy.
Net farm income is expected to rebound back above $1 billion this year after slumping to $780 million last year.
UK’s Will Snell said Thursday at the Kentucky Farm Bureau Convention in Louisville that high corn prices may enable corn to surpass horses as a cash producer in Kentucky.
Published in The Messenger 12.6.11