INDUSTRY-BY-INDUSTRY OUTLOOK : The Year in Preview

California came several years late to the nation’s economic recovery party, but the state should be celebrating all through 1997.

Here is what key industries will be up to:

AGRICULTURE: Assuming a stable dollar, California farmers in particular should enjoy a continued rise in overseas demand for fresh fruits, vegetables and other crops. Cattle producers and feedlots are expected to recover--somewhat--from one of the worst slumps in memory, and beleaguered dairy farmers should benefit from a drop in feed costs. The U.S. Supreme Court will rule on whether farmers can be forced to fund generic advertising. Wild cards: Weather, water and infestations of potentially devastating white flies.