The University of Kentucky College of Agriculture predicted late last year that the state’s 2012 farm cash receipts would top $5.3 billion – and it was nearly right on the money. Kentucky farm products brought in $5.284 billion in 2012.
Total receipts were up 7.4 percent in 2012. Receipts for livestock and products were $2.862 billion, while crops receipts were $2.421 billion.
At $1.04 billion (an increase of nearly 10 percent over 2011), poultry continues to be the state’s top-dollar product. Cash receipts for poultry accounted for approximately 20 percent of all receipts in 2012.
Soybeans cash receipts grew significantly in 2012, more than 28 percent. Several other commodities had big gains, including: honey (63.8 percent); tobacco (18 percent); vegetables and melons (13.7 percent); wool (10.6 percent); and cattle and calves (4.4 percent). Hay, wheat and corn had minor increases.
Fruits and nuts were down 20.6 percent. Dairy products, hogs, aquaculture and the other crops category also saw decreases.
Kentucky crop prospects for 2013 remain optimistic, according to the United States Department of Agriculture. Yields are projected to be above 2012 levels, according to the Kentucky Field Office of the USDA’s National Agricultural Statistics Service.