Report: Farm Income Continues to Drop in Minnesota

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A record finds minnesota farm earnings keeps to drop and hit a brand new low ultimate yr.

College of minnesota extension and minnesota country tracked the past 23 years of statistics and determined after adjusting for records, minnesota farms in 2018 earned the lowest median farm earnings at some point of that period.
The analysis launched monday discovered that minnesota farms suggested net income in 2018 was just over $26,000, down 8 percentage from the preceding year. Farmers inside the lowest 20 percentage stated losing nearly $72,000.

Participating manufacturers represented about 10 percent of minnesota’s business farmers. The range of participating dairy farms dropped via 15 percent in 2018, reflecting the quantity of dairies that offered their herds.

Across all farms, 34 percentage misplaced cash on their farming operations in 2018.

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