Kentucky agriculture on pace to achieve record receipts

WUKY | By Associated Press

Published December 1, 2022 at 10:44 PM EST

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UK students and technicians harvest wheat trial plots by hand.

Agricultural economists say Kentucky's farm sector is on pace to achieve record-setting cash receipts. That's despite a turbulent year marked by surging inflation and extreme weather.

Statewide farm cash receipts this year are projected to approach $8 billion. That would easily surpass the 2021 record-high of $6.9 billion. That's according to a team of University of Kentucky ag economists who
offered their projections on Thursday. Ag economist Will Snell says farmers benefited from relatively high national commodity prices. He says farm-level prices in Kentucky will more than offset lower yields for most agricultural enterprises.