Economist: Kentucky farm sector could set record receipts

An ag economist says Kentucky's farming sector appears to be on a record pace to surpass $7 billion in cash receipts this year.

University of Kentucky ag economist Will Snell says robust commodity prices are bolstering a sector hard hit by rapidly rising production costs.

Despite all the turbulence this year, Snell says his biggest concern is for 2023. He says commodity prices next year could drop without corresponding declines in farmers’ input costs.

Snell appeared before a state legislative panel Thursday to discuss the effect of surging inflation on Kentucky’s farming sector.