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

Turn it down: Study says millions at risk for hearing loss

earphones

A new study shows almost half of all 12 to 35-year-olds listen to unsafe levels of music on their personal audio devices or cellphones.

in Music

This week’s top country tracks

floridageorgia

LISTEN: This week's top country tracks, according to the latest Billboard chart.

in Entertainment, Viral Videos

What color is this dress?

19-overlay6

The "great dress debate" has been dividing the Internet. Are you team #WhiteandGold or team #BlueandBlack?

in Music

Grand Ole Opry gets historic designation

opry

The building that houses the heart of country music has an official place in American history.

in Entertainment

PHOTOS: Leonard Nimoy through the years

AP8209190316_5

Although he capped his "Star Trek" run with a notable career as both an actor and director, in the public's mind he will always be Spock.