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2017 Annual Report of the Southwestern Minnesota Farm Business Management Association

Author

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

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.

Suggested Citation

  • Van Nurden, Pauline A. & Nitchie, Donald L. & Paulson, Garen J. & Knorr, Tonya L. & Nordquist, Dale W., 2018. "2017 Annual Report of the Southwestern Minnesota Farm Business Management Association," Staff Papers 280576, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:280576
    DOI: 10.22004/ag.econ.280576
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    Keywords

    Farm Management;

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