Boise—Good news from the Idaho Statehouse—Idaho Agriculture is soaring, That's the word from U of I Ag Economist Garth Taylor, he told State Lawmakers that cash receipts from crops and livestock will top $8.3-billion dollars, the second-highest year in State history.
“We broke all-time record highs,” said Taylor. “In net farm income, in cash receipts ever recorded.”
The U of I financial report says two factors lead to the meteoric rise in cash receipts. Milk prices increased by a whopping 19-percent and potato prices are up to 15-percent:
“We have made some very significant strides in agriculture,” said Taylor.
And farmers made money, net farm income now projected at $2.7 billion, 50% higher than last year.
Idaho’s cash receipts from the farm reveal 34% from milk; while cattle and calves came in at 20%; potatoes, 13%; specialty crops, 11%; wheat, 6%; hay, 5%; sugar beets, 4%.
“I think one of the most telling graphs we put out is that Idaho is the fifth largest agriculture state in the nation. The percentage of Ag GDP is a percentage of total state GDP, the 5th largest state in the nation,” stressed Taylor.
Agriculture accounts for one of every eight jobs in Idaho The state ranks first in the U.S. for potato production and third for milk production.