Photo by Lorie Palmer
A Hereford cow peers through the wire in Idaho County.
As of Tuesday, February 3, 2015
The Joint Economic Outlook and Revenue Assessment Committee recently met to discuss Idaho’s economy. Idaho’s cattle industry continues to increase the economy, bringing in an estimated $2.47 billion in cash receipts in 2014. That is a 29 percent increase throughout the previous year.
“We have had record high beef and cattle prices during the last 12 months, and that trend is continuing on into 2015,” said Idaho Cattle Association Executive Vice President Wyatt Prescott. “As an industry we are proud to be producing a great product, and to consistently be such an asset to Idaho’s economy.”
The cattle industry is second only to the dairy industry in revenue contributed to the state. State revenue for cattle and calves set a record in cash receipts in 2014, as did milk. Cash receipts from sales of crops and livestock in 2014 are projected to be $9.70 billion.
Agribusiness continues to be Idaho’s largest industry, and Idaho is the third-largest agricultural state in the West.