1-17 IAT 2012 Ag

 2012 Projections Show Idaho Farmers, Ranchers Post Strong Year Financially

The year 2012 was a year to celebrate for Idaho agriculture, according to the “Financial Condition of Idaho Agriculture: 2012” report by University of Idaho College of Agricultural and Life Sciences economists. Projected cash receipts from Idaho crops and livestock for farmers and ranchers set a record of $7.7 billion. That is a gain of 5 percent, nearly $400 million, from 2011 projections. Idaho ranks as the West’s fourth largest agricultural state.

Net farm income also rose 5 percent, reflecting that strong crop and livestock prices outstripped the rising expenses agricultural producers faced in 2012. “The report shows the strength of Idaho agriculture and its importance to the state,” said John Foltz, who recently was named interim dean of the College of Agricultural and Life Sciences. He also noted the reason to be confident about the future in ag: “I remember the words from my father saying people always have to eat.”