Business and the Economy
Kentucky Corn Production Grows This Summer
By and large, most Kentucky corn producers are experiencing a much better year compared to last summer. Drought conditions wiped out many corn fields across western Kentucky. With steady rains in 2013, University of Kentucky Agricultural Economist Will Snell says it’s been a different story.
“It’s totally different, a complete opposite of last year. Certainly the drought stricken crop was a major challenge. We had yields average about 50 -60 bushels per acre last year and certainly farmers are seeing triple that this year in terms of anticipated output,” said Snell.
Still, strong corn production can have an adverse impact on prices. And Snell says many farmers used crop insurance last year as a blanket to offer protection against major losses. The ag economist says increased corn production can impact other farming sectors. Snell says more corn means more grain for cattle.
“This is seen to be a very positive outcome for our livestock producers who paid very high feed costs in the past several years due to a high price of corn so the outlook for price for corn should be a positive for dairy producers or beef cattle producers or poultry producers and eventually down the road some modest impact on food prices as well,” added Snell.
While corn can thrive during a time of consistent rain, Snell points out the tobacco crop has been negatively impacted by the heavy precipitation.