This publication is prepared by the faculty and staff of the Department of Agricultural Economics, University of Kentucky. These articles present information on the economic situation and outlook for Kentucky agriculture and are intended to assist farmers, agribusiness professionals, Extension field staff, and others with interest in agriculture and agribusiness. Information presented here is based on the most recent information and research available. However, the rapidly changing economic and policy conditions for agriculture limit the usefulness and life span of conclusions and recommendations cited here. Decision makers should keep these facts in mind. Feel free to use the information included in this publication for other uses, but please provide professional citation about the source. The papers contained in this publication are published without formal review and the views expressed are those of the authors and do not necessarily reflect the views of the University of Kentucky, the Agricultural Experiment Station, or the Cooperative Extension Service.
2007 Review: 2007 in the aggregate was another good year financially for Kentucky agriculture with farm cash receipts totaling an estimated (UK estimate) $4.22 billion.
2008 Outlook: Assuming normal growing conditions and no major disease outbreaks, farm cash receipts in 2008 are expected to set an all-time record of $4.294 billion! During the past several years rising cash receipts were primarily due to stronger livestock receipts. Next year, however, we expect crop receipts to be up 12% while livestock receipts to decrease 2.4%. The crop receipt forecast is based on what we hope will be more normal growing conditions.
A survey of processing facilities was conducted to determine their locations and to estimate potential within Kentucky; the objective is to better understand local processing opportunities for farmers and assist in the development of marketing opportuniies for processing facillities.
Meat trade is going to continue to be important and also continue to be erratic because of the way government policies can encourage or hinder movement of agricultural products.
These articles present information on the economic situation and outlook for Kentucky agriculture and are intended to assist farmers, agribusiness professionals, Extension field staff, and others with interest in agriculture and agribusiness.
A semi-structured interview process was combined with an econometric analysis to document the newly changed structure of the Holstein sector, to evaluate existing quality perceptions, and to assess the impact that recent changes in production practices have had on prices of Holstein steers. Results suggest that finished Holstein steer prices are driven by many of the same market factors as native steers, overturning some common quality misconceptions.
