|
|
|
|
News
|
|
|
|
Oregon net farm income shows moderate rise in 2010
|
|
|
9/28/2011
|
|
Article Content Suggested lead
Oregon's farmers and ranchers got a slightly bigger paycheck this past year and are beginning to slowly bounce back from the impact of the recession:
Entire audio file
Audio 01
After a dismal 2009, the collective bottom line for Oregon's farmers and ranchers last year showed modest improvement according to new statistics released by the US Department of Agriculture's Economic Research Service:
SEARLE: "Overall, agriculture did a little better in 2010 than 2009. We are up eight percent in net farm income. So a little bit on the upside, but a very slow dig out of a precipitous fall in 2008." :16
audio file
Audio 02
Brent Searle of the Oregon Department of Agriculture puts it in perspective by saying net farm income is about a third of what it was prior to the big drop when the recession hit a couple of years ago:
SEARLE: "We had a period there from 2003 to 2006 where net farm income was over a billion dollars. So now we are in the 450 to 460 million range. You can see that's a significant reduction in agriculture's take home pay." :17
audio file
Last year's slight rebound is due largely to a drop in expenses, which are still quite high. Farmers and ranchers have worked hard to do things more efficiently and cost-effectively. On the production value side of the equation, big sectors like nursery and grass seed are still holding down the comeback, but this year's numbers are likely to be better overall and the slow growth in net farm income should continue. In Salem, I'm Bruce Pokarney.
Additional audio: Audio 03
SEARLE says on the expense side, the number one item for farmers and ranchers continues to be paying for labor:
"Wages or employee compensation is the single highest component overall for farmers producing our livestock and crops in Oregon. It's significant. It's close to $1.1 billion annually in wages and compensation." :16
audio file
Additional audio: Audio 04
SEARLE forecasts the net farm income in Oregon for 2011. It looks like the slow rebound should continue:
"I would say we would see a slight, maybe 8 to 10 percent increase in net farm income for 2011. That's not going to get us anywhere near where we were prior to 2007, maybe up hitting that $500 million mark- again, less than half of where we were a few years ago." :17
audio file
Full story
http://oregon.gov/ODA/news/110928income.shtml |
|
|
|
|
|
|
|
|
|