2017 Annual Report of the Southwestern Minnesota Farm Business Management Association

Pauline A. Van Nurden, Donald L. Nitchie, Garen J. Paulson, Tonya L. Knorr and Dale W. Nordquist

No 280576, Staff Papers from University of Minnesota, Department of Applied Economics

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.

Keywords: Farm; Management (search for similar items in EconPapers)
Pages: 85
Date: 2018-03
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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:280576

DOI: 10.22004/ag.econ.280576

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