Idaho Net Farm Income Lags Recent High, but Tops Ten-Year Average
Idaho agriculture had a strong 2023 and will contribute to the state’s economy substantially again this year, according to analysts. Agriculture is expected to grow by a higher percentage in Idaho than in the nation as a whole largely due to the state’s commodity mix, Brett Wilder, a University of Idaho farm business management extension educator, told the legislature’s Economic Outlook and Revenue Assessment Committee Jan. 4. The state’s big dairy sector, for example, provides opportunities to benefit from economies of scale. “Ag producers are in a relatively good position going into 2024,” he said. Inflation and interest rates are concerns, along with geopolitics.
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