Agricultural earnings stabilizing in Wyoming since 'dramatic' 2014-2016 dip - Casper, WY Oil City News
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Agricultural earnings stabilizing in Wyoming since ‘dramatic’ 2014-2016 dip

(Pixabay)

CASPER, Wyo. — Wyoming’s agricultural industry earnings suffered for about two years.

“Between the fourth quarter of 2014 and 2016, farm earnings in Wyoming experienced a dramatic downward trend amid strong supply and weak global demand for beef products, but they have stabilized since then, and even accelerated during the first half of 2019,” a second quarter 2019 economic report from Wyoming’s Economic Analysis Division states.

“The index of prices received by farmers for all U.S. livestock and products increased in the second quarter of 2019, and the price level was also higher than a year ago.”

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The report also provides forecasts of production totals for several crops in 2019:

  • Barley: anticipated production of 7.37 million bushels (up 47% from 2018)
  • Alfalfa: anticipated production of 1.4 million tons (down 12% from 2018)
  • Sugarbeet: anticipated production of 894,000 tons (down 5% from 2018)