Farm Income Declines in 2015 01 Apr 16

(MNN)  2015 wasn’t a good year for Minnesota farmers.

U-of-M Extension economist Dale Nordquist says overall, the median net farm income in Minnesota was about 27-thousand dollars, down 37 percent from 2014. He says crop yields were just outstanding far greater than what we’ve seen in previous years and yet incomes were down for just about every major type of farm that we have in Minnesota.

Although livestock producers had a good year in 2014, both crop and livestock farms took a hit financially in 2015.

Nordquist says prices for nearly all major commodities declined last year.