After a period of record cash receipts, Kentucky farmers are feeling the squeeze from lower commodity prices and sluggish exports.
University of Kentucky ag economists predicted Dec. 3 that statewide farm cash receipts will drop to $6 billion in 2015. That would be down 8 percent from last year’s record $6.5 billion. Crop receipts are expected to decline 16 percent and livestock receipts are forecast to be down 3 percent.
The economists say Kentucky’s net cash farm income – the amount left after expenses – will likely drop below $2 billion in 2015. They say next year’s amount looks to approach the $1.4 billion average early in the decade.
The state’s net farm cash income peaked at $2.75 billion in 2013.
Another factor behind lower receipts is the end of tobacco buyout payments.
Topics Agribusiness
Was this article valuable?
Here are more articles you may enjoy.
Lululemon Slips as Texas Announces Probe of ‘Forever Chemicals’ 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Toilet Paper Warehouse in California Destroyed by Fire; Employee Arrested 
Albertsons Reaches $774 Million Opioid Accord, Records Loss 
