Minnesota Farm Income Drops Sharply In 2013


MINNEAPOLIS (AP) — A new report says Minnesota farm income dropped dramatically in 2013 largely because of lower corn prices.

An annual joint analysis by the Minnesota State Colleges and Universities and University of Minnesota Extension says net farm income was $41,899 for the median farm. That’s down 78 percent from $189,679 in 2012.

While crop farm incomes plunged, the report finds livestock farms did not fare much better. Incomes for dairy, hog and beef farms also declined.

Extension economist Dale Nordquist says the drop is not a surprise. He says the question is how long lower profits will last.

The study uses data from over 2,000 participants in MnSCU farm business management education programs, 111 members of the Southwest Minnesota Farm Business Management Association and 41 participants who worked with private consultants.

Local Headlines

in Local

People For Pets Can Thief Caught

News Arrest1240 1

A volunteer recently caught someone stealing the cans while on an early morning shift...

in Local

I-90 Accident

Minnesota State Patrol

A Fairmont man is injured in a single vehicle rollover, on Interstate 90.

in Local

Old Home Bakery Thrift Store Closes


Increased efficiency in ordering led to a lack of inventory at the store...

in Local

Shop Local For The Holidays


Small Business Saturday was established in 2010 with an estimated $14.3 billion spent in 2014...

in Local

Flu Mist Shortage


Clay County, like most of the nation, is seeing a shortage of flu mist supply this year...