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POCATELLO, Idaho (AP) — A recent economic report shows Idaho farm income fell for a second straight year in 2018 largely due to overproduction by dairy farmers.
The University of Idaho Extension report estimates total net farm income declined 27 percent to $902 million. Total net farm income represents earnings paid to farmers after subtracting expenses.
The Idaho State Journal reports farm cash receipts were estimated at nearly $7.2 billion and relatively flat. Cash receipts relate to cash income the farm sector receives from commodity sales.
Extension agricultural economist and report co-author Ben Eborn says Idaho's largest dairies have invested too much in their operations to scale back when prices decline. Consequently, he says they produce beyond the state's processing capability.
He says milk has sold for below break-even prices for three years.
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