1. What About KY’s Agricultural Economy?

2. Kentucky’s Historical Signature Industries: Tobacco and Horses
Off $600 Million from Record High in 1998
Off $400 Million from Record High in 2006
Agricultural Economics

3. Kentucky Agricultural Cash Receipts
$5.2 - $5.4B
Increased 2011 Sales in Grains, Cattle, Equine, Dairy, and Hogs
$4.4B
Source: Ky Ag Stats/NASS, UK Estimates for 2011
Agricultural Economics

4. Kentucky Agricultural Cash Receipts
Livestock
Crops
Source: Ky Ag Stats/NASS, with UK Estimates for 2011
Agricultural Economics

5. Distribution of KY Agricultural Cash Receipts: 1990s vs. 2011
Source: Ky Ag Stats/NASS

6. Percentage Change in Kentucky Agricultural Cash Receipts:
2010 vs the 1990s B o o n e K e n t o C n a m p b e l l
2010 vs 1990s: 32% Increase G a l l a t i n T r i m b l e C a r r o l l G r a n t P e n d l e t o n B r a c k e n M a s o n O w e n R o b e r t s o n L e w i s G r e e n u p H e n r y H a r r i s o n O l d h a m F l e m i n g S c o t t N i c h o l a s C a r t e r B o y d S h e l b y F r a n k l i n J e f f e r s o n B o u r b o n R o w a n B a t h E l l i o t t W o o d f o r d M o n t g o m e r y L a w r e n c e S p e n c e r M e a d e B u l l i t t A n d e r s o n F a y e t t e C l a r k M e n i f e e M o r g a n H a n c o c k M e r c e r J e s s a m i n e B r e c k i n r i d g e N e l s o n P o w e l l J o h n s o n H e n d e r s o n M a r t i n W a s h i n g t o n W o l f e M a g o f f i n U n i o n D a v i e s s H a r d i n M a d i s o n E s t i l l B o y l e G a r r a r d M c l e a n L a r u e M a r i o n L e e W e b s t e r B r e a t h i t t F l o y d O h i o G r a y s o n L i n c o l n P i k e J a c k s o n O w s l e y C r i t t e n d e n H o p k i n s H a r t T a y l o r C a s e y R o c k c a s t l e K n o t t G r e e n P e r r y L i v i n g s t o n M u h l e n b e r g B u t l e r E d m o n s o n C a l d w e l l P u l a s k i L a u r e l C l a y M c c r a c k e n A d a i r L e s l i e L e t c h e r B a l l a r d L y o n W a r r e n M e t c a l f e R u s s e l l C a r l i s l e M a r s h a l l C h r i s t i a n B a r r e n L o g a n K n o x T o d d H a r l a n T r i g g S i m p s o n A l l e n C u m b e r l a n d W a y n e C l i n t o n M c c r e a r y W h i t l e y B e l l H i c k m a n G r a v e s M o n r o e C a l l o w a y F u l t o n
Loss of More than 30%
0 to 30% Gain
0 to 30% Loss
Gain of More than 30%
Agricultural Economics

7. Ky Net Farm Income $1.2 - $1.4B Source: ERS/USDA
Agricultural Economics

8. Distribution of KY Govt Payments:
2010 ($320 million)
Source: Ky Ag Stats/NASS
Agricultural Economics

9. What About 2012? Strong (but probably lower) Grain Prices
Low Cattle Numbers Will Keep Prices Relatively Tight
Poultry/Equine Market Stability/Growth
Tobacco Receipts “Could” Increase
Growing Local Demand for Fresh Produce
Relatively Strong Export Demand
Agricultural Economics

10. Kentucky Agricultural Cash Receipts
Wild Card Issues:
Weather, Exchange Rates, Economic Recovery, Global Response to High Prices
$5.3 - $5.7B
Source: Ky Ag Stats/NASS, with UK Estimates for 2011 and 2012
Agricultural Economics