Kentucky farm economy holds steady despite pandemic
LOUISVILLE, Ky. (AP) — Economists say Kentucky’s agricultural receipts are expected to hold steady to last year’s levels despite turmoil from the coronavirus. The University of Kentucky ag economists said Friday the state’s 2020 farm cash receipts are projected to be $5.5 billion, equaling last year’s amount. They estimate net farm income will likely exceed the $2.2 billion Kentucky producers earned in 2019. UK ag economist Will Snell says it’s been a challenging year but says the farm economy is ending on a positive note. Higher grain prices and crop yields near all-time highs helped offset lower equine, poultry, cattle, dairy and tobacco receipts.
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