Kentucky’s horse business worth $23.4 billion

It’s official: Kentucky is indeed the world’s Equus caballus majuscule – if the latest survey of equine assets inwards the soil is anything to become by.

Kentucky is habitation to 242,400 horses in addition to the sum value of the state’s equine and equine-related assets is estimated at $23.4 billion, according to the 2012 Kentucky Equine Survey.

The comprehensive statewide survey of all breeds of horses, ponies, donkeys in addition to mules was the offset such report since 1977. Conducted betwixt June in addition to Oct 2012 yesteryear the Kentucky field role of the National Agricultural Statistics Service, amongst back upward in addition to assistance yesteryear the University of Kentucky College of Agriculture in addition to the Kentucky Horse Council, the survey’s results identified 35,000 equine operations in addition to 1.1 1 grand m acres devoted to equine use. The results are a snapshot of the 2011 calendar year.

“The value of Kentucky’s equine and equine-related assets, such equally soil in addition to buildings, is significantly larger than other states for which nosotros select data, in addition to it serves to underscore that Kentucky is the Horse Capital of the World,” said Jill Stowe, Great Britain associate professor inwards agricultural economic science in addition to projection lead.

Phase 1 of the report was a statewide survey of equine operations that included an inventory of all breeds of equine, including horses, ponies, donkeys in addition to mules. It included a aspect at sales, income, expenses in addition to assets of those operations. County-level results from Phase 1 are expected soon. Phase two of the projection volition entail an economical touching on analysis of Kentucky’s equine industry. Phase two information volition survive available mid-2013.

With regard to the inventory of Kentucky’s equine operations, the report determined that 56 share are farms or ranches in addition to thirty share are for personal use, piece three share are boarding, grooming or riding facilities. Breeding operations accounted for two percent.

The vast bulk of horses inventoried were lite horses (216,300), followed yesteryear donkeys in addition to mules (14,000), ponies (7,000) in addition to draft horses (5,100). Thoroughbreds are the most prevalent breed inwards the soil (54,000), followed yesteryear Quarter Horses (42,000), Tennessee Walking Horses (36,000), Saddlebreds (14,000), donkeys, mules in addition to burros, Mountain Horse breeds (12,500) in addition to Standardbreds (9,500).

The primary utilisation of the bulk of Kentucky’s equines is trail riding/pleasure (79,500), followed yesteryear broodmares (38,000), horses currently idle/not working (33,000), competition/show (24,500), horses currently growing, including yearlings, weanlings in addition to foals (23,000), racing (15,000), work/transportation (12,500), breeding stallions (3,900) in addition to other activities (13,000).

“Kentucky’s horse industry is of import to a various laid upward of people across the Commonwealth, from the 9-year-old 4-H fellow member amongst her pony to the retired schoolhouse instructor who simply took upward trail riding,” said Anna Zinkhon, Kentucky Horse Council Board president.

“It is the Kentucky Horse Council’s destination to transcend along this manufacture survive in addition to growing. The Kentucky Equine Survey provides us amongst the numbers, in addition to then we’ll know how to develop programs to emphasize strengths equally good equally laissez passer on improving areas of need. It is an of import window into the future.”

According to the study, the estimated value of the 242,400 equines in Kentucky is nearly $6.3 billion. In addition, the estimated value of equine-related assets, including soil in addition to buildings, vehicles in addition to equipment, feed in addition to supplies in addition to tack and equestrian clothing, is $17.1 billion, bringing the sum value of Kentucky’s equine and equine-related assets to $23.4 billion.

The sum of all equine-related sales in addition to income for equine operations inwards 2011 was nearly $1.1 billion. That sum came from sales of all equines, estimated to survive $521.1 million, in addition to $491 1 grand m inwards income from services provided, including both breeding in addition to non-breeding services such equally training, lessons, boarding, farrier, transportation, purses, incentives, etc.

The report constitute that total equine-related expenditures by equine operations inwards 2011 totalled nearly $1.2 billion. Capital expenditures by equine operations, including the buy of equines, existent estate in addition to improvements in addition to equipment, were estimated to survive $337 million. Operating expenditures, including expenses paid for boarding, feed, bedding, veterinary, supplies, farrier services, breeding, maintenance in addition to repair, insurance premiums, utilities in addition to fuel, taxes, rent and/or lease, fees in addition to payments, shipping in addition to travel, grooming in addition to other fees, totalled $839 million. Notably, 77 share of these operating expenses were spent in Kentucky.

Funding for the projection was provided yesteryear the Kentucky Agricultural Development Fund, along amongst the University of Kentucky College of Agriculture, the Kentucky Horse Council in addition to numerous other manufacture organizations in addition to individuals.

More information: http://www2.ca.uky.edu/equine/kyequinesurvey

 

Reporting: Holly Wiemers

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