2010 A Good Year For Minnesota Farmers
UNDATED — Minnesota farmers made more money last year, compared to the year before.
The median net farm income was nearly $120,000 among about 2,500 Minnesota farms in 2010 — that’s up from just over $33,000 the year before when net incomes were depressed by low profits in the livestock industry.
Hog farmers returned to profitability in 2010 with a median profit of more than $250,000, compared to a net loss of $73,000 in 2009.
Dairy producers also made a comeback to profitability. The median dairy farm had a net income of nearly $58,000, compared to only making just over $2,000 the year before.
And income for crop farmers also saw an increase from $60,000 in 2009 up to $161,000 last year.
The report was put together by MnSCU and the University of Minnesota.