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2018 Annual Report of the Southwestern Minnesota Farm Business Management Association

Author

Listed:
  • Van Nurden, Pauline A.
  • Nitchie, Donald L.
  • Paulson, Garen J.
  • Knorr, Tonya L.
  • Deutz, Allen
  • Nordquist, Dale W.

Abstract

Less than trendline yields, especially in corn, coupled with stagnant prices lead to a fourth consecutive year of decreased profitability for the 101 farms included in the 2018 annual report of the Southwestern Minnesota Farm Business Management Association. The average farm earned $72,056 in 2018, down from just under $85,000 in 2017. 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 weather challenges throughout the year, leading to lowest crop yields for most producers in recent years. Earnings for all types of livestock operations were down somewhat from the previous year, as commodity prices for major livestock types were all lower year over year.

Suggested Citation

  • Van Nurden, Pauline A. & Nitchie, Donald L. & Paulson, Garen J. & Knorr, Tonya L. & Deutz, Allen & Nordquist, Dale W., 2019. "2018 Annual Report of the Southwestern Minnesota Farm Business Management Association," Staff Papers 292666, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:292666
    DOI: 10.22004/ag.econ.292666
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    Keywords

    Agribusiness; Farm Management;

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