The United State Department of Agriculture Economic Research Service has released Cash Receipts by State data for calendar year 2022. The total cash receipts for Virginia commodities in 2022 were $5.05 billion, which includes $3.4 billion for animals and products. The 2022 all-commodity cash receipt total is an increase of more than $1.2 billion from the 2021 total of $3.84 billion. Cash receipts for agricultural commodities are defined as the gross income from sales of crops and livestock products during a calendar year.
“Higher commodity cash receipts are great. However, this data is from a year with an extremely volatile market, and the data reflects that. Commodity prices fluctuated widely. Although they were high through much of the year, hopes for Virginia producers to make significant profits were largely offset by high input prices, particularly for fuel and fertilizer. Severe weather, avian influenza, labor shortages, and other effects of inflation were also significant challenges during the year,” said Joseph Guthrie, commissioner of the Virginia Department of Agriculture and Consumer Services.