National Ag News
Report shows more than 30% of Minnesota farmers lost money in 2016
Mar 28, 2017, 17:39 PM
by
System
A new report shows more than 30 percent of Minnesota farmers finished 2016 in the red.
University of Minnesota Extension economist Dale Nordquist says the annual farm income analysis points to continued low crop and livestock prices as the primary factor.
“Even with record yields, and obviously we had spectacular yields for the second year in a row, and again for the second year in a row that didn’t really translate into profitability for the crop producers in the state.”
According to the study, the median crop farm earned about $46,000 dollars in 2016.
