Record 2023 Sales

A University of Idaho report finds. Idaho AG enjoyed record 2023 sales of four top commodities. Idaho agriculture overcame a struggling dairy market to record a second consecutive year of stellar cash receipts at 2023, propelled by record values of four of the state's major crops, according to a new University of Idaho economic report. Idaho agricultural cash receipts for the year totaled $11.157 billion, down by just 1% from the record high number food producers celebrated in 2022, according to the Financial Condition of Idaho Agriculture 2023 by U. Of I agricultural economists Brett Wilder and Xiaoxue “Rita” Du. Wilder said we have had all time record highs in four commodity groups. Offsetting some of those gains, however, was an 18% revenue drop from Idaho's top commodity dairy, which represents nearly a third of the state's total agricultural cash receipts. Idaho still ranks as the nation's number three producer of dairy, with the value of its production declining to just over $3.5 billion in 2023 after expenses. However, the report estimates farm profits will be down by 11% in 2023 at $3.769 billion. It's a strong earnings total nonetheless, following Idaho's record 112% net farm income increase in 2022.