2016 Western Ag Industry Survey

2016 Western Ag Industry Survey In early 2016, the idea for the Agricultural Industry Survey originated from a similar effort administered by a group of Colorado Extension Specialists. Members of the Western Extension Committees (WEC) on Farm Management and Marketing, made up of Extension economists from 13 Western States, Guam, and the U.S. Pacific Islands then initiated a survey specific to agriculture in the west. The survey invitation was emailed to the WEC membership who distributed it through Extension contact channels. The survey report is now available… Agricultural Industry Survey (AIS) results indicate there is emerging financial stress in the west but to a slightly lesser degree than reported nationally. This is likely due to commodity diversification and the relatively wide use of irrigation which has helped to buffer climate risk. Western region price trends tend to be slightly higher than U.S. price trends with prices that are generally competitive or above U.S. values. However overall declines in price trends for major commodities in the west in 2015 and continuing into 2016 will persist and contribute to the gradual decline in farm income which is certain to exacerbate financial stress. The economic environment is experiencing substantial shifts with agricultural risks becoming ever more complex. An expedient response requires a solid infrastructure to address these needs and situations as they emerge. To read or download a copy of the survey report, point your browser to http://WEC.FarmManagement.org. For those receiving this message who contributed to the results, a big thank you. We could not have put together this report without your greatly appreciated contributions. Thank you.