Abstract
Even with a third consecutive year of record crop yields, profitability decreased slightly for the 104 farms included in the 2017 annual report of the Southwestern Minnesota Farm Business Management Association. The average farm earned $84,767 in 2017, down from just under $89,000 in 2016. Earnings received in the recent past are historically low compared to those received in the first half of the decade. The average farm earned a rate of return on assets of only 2%. Crop farm incomes declined due to lower yielding soybeans and lower prices received for corn. Earnings for all types of livestock operations were up somewhat from the previous year, but the median producer earned only $32,800 from farm operations.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
