Income from farming and ranching in Oregon inched up 8 percent in 2010 to $458 million compared to the previous year. But that haul is still a third of the record $1.3 billion farmers and ranchers netted in 2004.
The Oregonian reports that analysts think that income will rise between 8 to 10 percent in 2011, continuing a slow recovery.
The net farm income is the amount farmers and ranchers retain after paying all business-related expenses, including labor, fertilizer and fuel. It’s considered an indicator of farm health in Oregon.
Among some of the indicators: Equipment repair and maintenance costs declined by 15 percent, suggesting farmers are trying to get by and farm vehicle registration expenses declined, perhaps meaning farmers sold equipment to save money.
Labor is the largest single cost for farmers and ranchers, totaling close to $1.1 billion in 2010.