KY Farm Receipts Reach Record High

Economist at the University of Kentucky Department of Agricultural say the state's farm cash receipts are on a rapid trajectory upward that could reach $6 billion in 2013, just a year after total farm income surpassed $5 billion for the first time ever.
 
They point to strong equine, poultry and cattle markets, combined with bin-busting grain yields,  for sending cash receipts to record heights in the Bluegrass state.
 
UK farm economist Will Snell said Thursday that this year's net farm income will likely remain above the $1.5 billion level reached in 2011 and 2012.
 
That's well below the 2005 record of $2.1 billion in net income, which is the amount left after expenses.
 
Looking ahead, the economists say Kentucky's farm cash receipts in 2014 could stay in the neighborhood of $6 billion.