News

Minnesota Farm Income Drops Sharply In 2013

Photo: clipart.com

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.

Recent Headlines

in Music

Roseanne Cash honored for ‘ingenuity’

Fresh
roseannecash

Johnny Cash's daughter was one of only 10 recipients of the Smithsonian Ingenuity Awards in Washington, D.C.

in Music, Viral Videos

WATCH: ‘Stingtones’

Fresh
24-overlay2

What if Sting recorded your cell phone ringtone - or, even better - your voicemail message?

in Entertainment

‘Fury’ is all the rage at the box office

Fresh
fury

Brad Pitt's gritty World War II drama conquered all box office foes over the weekend, ringing up $23.5 million in ticket sales.

in Trending, Viral Videos

TODAY’S MUST SEE: This forecast has gone to the dogs

Fresh
20-overlay3

A dog visits the set of a Canadian newscast and steals the show.

in Entertainment

Today in entertainment history: Oct. 20

madonna

A look back at the Hollywood headlines that went down in history.