1-25 FB Ag Swings

 Idaho’s farmers and ranchers posted a record year in 2011, with a projected $7.4 billion in cash receipts, up 29 percent from the previous year, according to University of Idaho College of Agricultural and Life Sciences economists.Here is one of those economists, Dr. Paul Patterson: “it was an exceptional year for Idaho and the nation.” Nearly every crop and livestock sector posted strong gains in 2011, most of them records but USDA projections for 2012 and beyond say net farm income will likely decrease in the next several years due to falling commodity prices.

A weak dollar that helps U.S. agricultural exports, growing consumer demand in China, the new yogurt plant in Twin Falls and other factors will offset some challenges facing Idaho agriculture. But volatility in net farm income is the norm, the report said, noting, “In every one of the past 10 years, Idaho experienced double-digit swings in net farm income.”