Page 12 13 2012 colorado business economic outlook

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Unformatted text preview: ture Colorado Agriculture Will Post Record Estimated net Farm Income in 2011 COLORADO FARM InCOME AnD PRODUCTIOn ExPEnSES COLORADO FARM INCOME AND PRODUCTION EXPENSES 2003–2012 2003 - 2012 (In Millions of Dollars) (In Millions of Dollars) C olorado’s agricultural producers benefited from unexpectedly strong market prices for livestock and crops in 2011, leading to estimated record net farm income of $1.7 billion. Gross farm revenue for 2011 is expected to increase by nearly $1.5 billion, to $8.6 billion, topping the previous high of just under $7.5 billion recorded in 2007. Estimated 2011 cash receipts for most of Colorado’s major crops are far above the levels forecast a year ago, with hay up 32%, potatoes up 51%, and corn up a remarkable 62%. Total livestock cash receipts are estimated to surge to a new record of $4.6 billion in 2011, eclipsing the previous record of $4.3 billion in 2007. A strong recovery and growth in Colorado’s dairy industry, along with record cash receipts for producers of sheep, lambs, and specialty livestock, contributed importantly. Estimated total farm production expenses are up 14% in...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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