01/09/08 Record setting year for Idaho agriculture

Idaho agriculture will collect record high cash receipts of 5.6 billion dollars in 2007. TAYLOR "Agriculture is bigger now in Idaho than it ever has been, period. It is not a dinosaur. It is not a dying disappearing industry." That's University of Idaho ag economist Garth Taylor one of the authors of the report that shows that cash receipts for dairy, beef, potatoes, wheat and the state's other ag products rose 25 percent or 1.1 billion dollars from 2006. That is the largest increase every recorded and higher commodity prices is part of the reason. TAYLOR "That weak dollar has propelled exports and this ethanol subsidy has such pervasive tentacles throughout all of agriculture. It has really propped up prices to phenomenal prices." While Idaho farmers and ranchers enjoyed higher prices for their products last year they also faced record high input costs for fuel and fertilizer. TAYLOR "And that translates back into that net farm income too. Its up a whopping 78 percent to over 1.5 billion dollars. That's the bottom line for farmers in the state of Idaho. Its phenomenal." But what does all of this mean for the future? A look at that tomorrow. Today's Idaho Ag News Bill Scott