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Unformatted text preview: 1,035.0 1,659.8 1,563.2 a Estimated. b Forecast. Source: Colorado Business Economic Outlook Agriculture Committee. PAGE 15 prices and revenue received by Colorado’s agricultural producers next year. However, some key factors, such as the value of the U.S. dollar, may slow the rate of increase for Colorado’s agricultural product export sales. The severity and impact of the 2011 drought in Texas, Oklahoma, Kansas, and southern Colorado was not foreseen and may again be a production and market “game changer” for Colorado crops and livestock in 2012. On balance, a modest decline of $61 million in net farm income, to $1.6 billion, is forecast for Colorado in 2012, assuming the absence of sharp price increases that drove advances in gross farm revenue the past two years. Historically, as goes the livestock industry, so goes Colorado’s Agriculture Sector economy because livestock, predominantly cattle, traditionally accounts for at least 60% of total farm gate cash receipts. Colorado’s livestock industry revenues were not expe...
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