Report: Minn. Farm Income From Crops Rose In 2010

April 8, 2011 6:38 AM

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ST. PAUL, Minn. (AP) — A new report says median net farm income among Minnesota crop farmers more than doubled in 2010, while livestock farmers became profitable again.

The joint report by the Minnesota State Colleges and Universities system and the University of Minnesota says overall median net farm income was nearly $120,000 among about 2,500 Minnesota farms in 2010. That’s up more than $33,000 from 2009.

For crop farms, the median net farm income increased to over $161,000, up from about $60,000 in 2009.

A major change was the return to profitability of Minnesota hog farms. In 2010, they earned median profits of more than $250,000 compared with losses of $73,000 in 2009. The median dairy farm made a net income of under $58,000 in 2010 compared with just over $2,000 in 2009.

Report: Minn. Farm Income From Crops Rose In 2010

mike

How much of this profit is due to subsides?
GN

Not a bad return considering most farmers are cash grain farmers and spend, on average, 60 days a year actively engaged in farming. In the fall of 2010 the majority of harvest, tillage, and machinery put away took 21 days. Rural folks that are non-farmers don’t have a lot of respect for these guys.
truth hurts

the profit increase is due Wall Street future market/grain speculators and excellent yields last year…the welfare checks were flat in 2010. Some farmers did qualify for weather relief welfare checks.

One thing you should take away from this story these are NET farm incomes not GROSS. Yet, they still qualify for welfare checks. It doesn’t matter if it’s a good or bad year; you still get some government handout that remained stable in 2010.
Ouch!

I guess havbing illegals pick crops really does add to the bottom line
r

and they still receive sizable subsidies while the rest of us experienced pay freezes and lay offs, go figure! It pays to be a farmer
Chuck

First, subsidies are really a cheep food policy thaat the government has. Second, the farmers share of the food dollar is only about 15% of the cost to you. the rest is processing, packaging, and transportation. Third, the support prices only kick in when crop proces arre low. NOT WHEN THEY ARE AT ALL TIME HIGHS. Also, the rise in proces are the result of shortages of those food commodities. Are the farmers doing well now? YES!!! The good news to consumers is that they can not take their businesses out of the country like GM for example. Also they spend when they make money. All that should be good for you.

GN

Sorry Chuck, under the direct pay schedule now in place, the subsidies keep coming hot and heavy. Besides the main purpose of subsidies is not what the media and the government tells folks. It is politically motivated. The rural banks are branch banks of large institutional banks. All machinery manufacturers are under union control. As a country we do not nor did we ever need farm subsidies. It has been a great way of funneling money from taxpayers and adding a myriad of government agencies to administer the programs all at taxpayer expense.

Wilbur

Lies and statistics. What is the average farm? I have a relative renting out land. That counts as a farm. The net income from renting the land was no 161000. The rent only covered the taxes. The guys who rents it farms about a section of land. Could the two men who rented the land made 16100 together. Maybe. If the family farms have two or three dividing the pot, the 16100 is not so great considering it was a bumper year.

GN

Need to add a zero Wilbur. Keep in mind it is the median and not the average.
A median number, for the most part is a meanless number. It happens to be a number that pops up in the middle.

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Jane

Holy Crap !
GN you are my hero, I love that you know the real deal.
So many people are not aware of this welfare. So many have a false idea about farmers. Brought on by the rederic of the red barns and old men in coveralls, caring buckets, that is fed to them by advertising. The farmers around here go crazy if you mention subsidies. You are not to know about them and for Sure you are not to mention it. I dont know why we should be afraid of mentioning the truth, but thanks and I hope this conversation continues. The more they get, the more they expect and feel intitiled to. We all contribute to the world going around. They seem to think they are the begginging and the end. I believe that the guy who made the tractor he drives (w/all the comforts of home) The guy who built his house, the road workers that he drove his big ass tractor down at rush hour. Lets just say the butcher the baker and candle stick maker. lets not forget the secretary who cut his welfare check and the everyday worker who paid for it.. We all contribute to society and we dont ask anyone to thank us for it.