Farmers' Net Income

 John Hammel, Dean of the University of Idaho College of Agricultural and Life Sciences recently said that agriculture, as a diverse industry, is a strong stabilizing force in Idaho's overall economy. That said, individual growers experience volatility in the commodity market prices and increasing costs of inputs and both factors affect their net incomes. The picture painted by the numbers in 2009 showing that receipts dropped 17 percent to $5.4 billion from 2008, is the largest single-year decline in more than 40 years. Net farm income, the ultimate measure of Idaho agriculture's performance for farmers and ranchers, dropped to $1.018 billion from $1.904 billion in 2008.

Here’s Garth Taylor, Department of Agricultural Economics and Rural Sociology economist: “We’re looking at the nets in ’09 to drop by close to half. In other words farmers bottom lines are dropping by that much.”

 Net farm income showed the industry's volatility in recent years. In 2006 net farm income dropped 20 percent, in 2007 it surged 71 percent and in 2008 it rose 19 percent.