Kentucky farm income rebounds from 2016 levels

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LOUISVILLE, Ky. (AP) -- Agricultural economists say farm income in Kentucky has rebounded from 2016 levels, but remains well below record figures earlier in the decade.

The University of Kentucky ag economists on Thursday predicted 2017 farm cash receipts to reach $5.6 billion, which would be a 3.5 percent increase from last year. They're also forecasting a modest increase in net farm income, which is the amount left after expenses.

UK ag economist Will Snell says this year's improvements were fueled by higher crop yields, better livestock prices and fairly stable input costs.

The economists are forecasting slightly higher agricultural cash receipts for Kentucky in 2018, assuming a normal growing season.

They say poultry remains Kentucky's top agricultural commodity.

The UK forecasts are a fixture at the Kentucky Farm Bureau's annual meeting in Louisville.



 
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