Published September, 2012

After declining for three straight years, Kentucky farm-level equine receipts increased in 2011. In the recently released USDA estimates, equine receipts reached $800 million last year, up 14% from 2010. This represents the highest mark since 2008, a year when equine receipts topped $1 billion for the state. In terms of overall agriculture receipts, equine claimed the No. 2 spot in 2011, behind poultry and just ahead of corn.

Farm-level equine receipts primarily include sales and stud fees, both of which likely helped to boost receipts last year. Fall sales for yearlings and breeding stock were both up considerably from 2010. A combination of lower numbers, pent-up demand, tax incentives, and some large dispersals likely worked to fuel sales during 2011. Much more will be known about the 2012 market with the September sales. However, given the drought impacts on Kentucky's corn crop this year, equine is likely to hold the No. 2 spot again in 2012.

Kenny Burdine, PhD, extension specialist in UK's Agricultural Economics Department provided this information.