Median Minnesota Dairy Farm Income Drops to $31,000
According to select farm financial records, median dairy farm income in Minnesota dropped to $31,563 in 2016, a 30% decline from 2015.
According to the Minneapolis Star Tribune, more than 30% of all Minnesota farmer recorded red ink in 2016. Low prices plagued pretty much all major commodities, from corn to soybeans to pork to beef. The medium beef producer in Minnesota lost $11,000 last year.
The results come from analysis of 2,200 records from the Minnesota State Business farm management program and the Southwest Minnesota Farm Business Management Association. These farms represent about 10% of the state’s farms. While not projectable to the entire population, the records are an indication of financial conditions on Minnesota farms. Read the full story here, and be sure to read the comments section to see how urban readers respond.