Kentucky farmers are seeing financial gains even when coping with a variety of both economic and natural challenges. Those issues include inflation, supply chain and trade disruptions, major weather events, and a war between two major global markets. Still, University of Kentucky Agriculture Economists predict the state’s 2022 ag receipts will approach a record $8 billion dollars. UK Ag Economist Will Snell said 2023 looks promising but added the market could be volatile.
“We’re cautiously optimistic that there’s money to be made in 2023 and farmers have got to continue to monitor these markets almost on a daily basis and really try to protect themself from price risk and yield risk as much as possible,” said Snell.
