Doesn't sound too good according to this http://imbibe.com/news-articles/beers/hop-merchant-warns-of-global-hop-shortage/ Although it sounds like England has done ok but not so good on the continent or in the US. I guess homebrewers might be trying out some more english hops if a lot of the tasty US ones are taken up by contracts.
I was told a different story two weeks ago in Yakima. They had plated 15% more acres, but the crop looks to be up only 5%. They bought water from other farms that specialize in say, corn and such. There will be no "hop shortage" but some hops like the popular aroma varieties will be tight, as always.
Good thing I stocked up this year. I've got a few pounds each of Citra, Mosaic, Amarillo, Perle, Centennial, Cascade, Galaxy and Magnum. I got in on a contract from a brewery and decided to stock the freezer for the upcoming brew season.
Colorado has jumped on the hop bandwagon the past few years. It makes sense really, we dont have mildew issues like the more humid climates.