Oregon's Net Farm and Ranch Income Declines

Since 2004 Oregon’s agriculture industry has been on decline with the most alarming numbers to date for 2009. According to The Oregon Department of Agriculture the net income for farmers and ranchers fell 41 percent in 2009.
The data showed that Oregon net farm income was around $563 million when numbers were a record $1.3 billion in 2004. All information is based on U.S. Department of Agriculture statistics.
Brent Searle of the Oregon Department of Agriculture noted the downturn isn’t a surprise, “but the magnitude of last year’s net farm income drop is significant.”
The decline is attributed to the overall loss of production value, not operating expenses.
Searle said operating expenses played very little role in the plunge, which was due mostly to a loss of production value.
In 2009 Oregon’s crop production was around $3 billion (13 percent less than previous) and livestock production dropped 12 percent to $923 million.
In need of a farm or ranch loan? Rates are at historic lows. Call 866-929-5585 to speak with a Farm Plus representative today or visit us online for more information.