BOISE, Idaho—Idaho agriculture set records for total farm-gate receipts and net farm income in 2012, but not all sectors of the state's farming economy had a good year. Cash receipts from the sale of Idaho crops and livestock in 2012 are projected to be $7.72 billion, a 5 percent increase over the 2011 record of $7.33 billion.
Despite an 8 percent increase in expenses, which reached a record $6.13 billion, net farm income for Idaho growers and ranchers is projected to be a record $2.57 billion, 5 percent more than in 2011.
The numbers, based on sales during the calendar year, are contained in the university's annual "Financial Condition of Idaho Agriculture" report.
Six of the state's major ag commodities—milk, cattle and calves, potatoes, wheat, barley and dry beans—set records for cash receipts.
Potatoes remain the state's highest-value crop with $957 million in revenue, up 4 percent from 2011. Production was up 11 percent but prices averaged 9.5 percent lower.
SOURCE: Sean Ellis, Capital Press