Report: MN Farmers Had Record Profits in 2011

ST. PAUL (AP) -- A new report finds Minnesota farmers enjoyed record profits last year.

The survey of nearly 2,400 Minnesota farms finds median net farm income reached a record $123,000 last year, up 1 percent.

According to the report, higher grain prices and more profitable livestock operations helped improve the 2011 numbers. But stressful weather and lower crop yields limited the gains.

Dairy farmers reported median net farm income of $91,000, up from $68,000 the year before. The median is the midpoint, where half the farm incomes in the survey were higher and half were lower.

The numbers were compiled by the University of Minnesota and the Minnesota State Colleges and Universities system.