Idaho Ag Posts Third Year in Row for Cash Receipt Record

$7.82 billion mark is state's biggest ever.

Published on: Jan 17, 2014

Idaho's ag producers made it a three peat in 2013:

They posted their third year in a row of record cash receipts, marking the latest total at $7.82 billion, up 3% from 2012, according to University of Idaho farm economists.

Net farm income was projected at $2.73 billion, a decline of $12 million but considered by the economists to be stable when compared with 2012. A slight increase in expenses accounted for most of the decrease. Even so, the 2013 net was 56% above the 10-year average for the state's farmers and ranchers.

The projected tally of cash receipts and net farm income included in the report "The Financial Condition of Idaho Agriculture in 2013," shows the state industry's continued strength, says John Foltz, UI College of Agricultural and Life Sciences dean at the Moscow campus.

Idahos 2013 crop report shows an increase in gross farm gate revenues for the third time in a row. Take-home proportions, however, were not as impressive.
Idaho's 2013 crop report shows an increase in gross farm gate revenues for the third time in a row. Take-home proportions, however, were not as impressive.

Flotz presented the report to the Idaho Legislature's Economic Outlook and Revenue Assessment Committee which surveys the state's economic condition to prepare an estimate of expected tax revenues on which to base the state's annual budget.

Idaho's livestock industries – mainly beef and milk – engineered the bulk of the cash receipts of $4.3 billion or nearly 55% of the total. Milk sales totaled $2.5 billion, up 6% from 2012, and cattle and calf sales generated $1.5 billion, up 8%.

Other livestock sales – primarily sheep – generated $205 million for a 12% leap.

Potatoes led crop receipts at $965 million, up 1%. Overall crop receipts fell 1% or $50 million to $3.54 billion, largely due to declines in sugarbeets and wheat.

Beet receipts were down 23 at $251 million, reflecting a drop of 2% and sales price of $40 per ton, a 21% drop.

Wheat receipts dropped 8% to $732 million, mirroring a 1% drop in the average price. Wheat production was up 4% from 2012.