According to the 2019 AgCentric Farm Business Management reports, median net farm income increased slightly for Minnesota farms last year. “However, if you take net farm income, start looking at depreciation added back in, take out family living, healthcare and principal payments, farms are still at a negative payment,” says Keith Olander, director, AgCentric. “For six years the average farm in Minnesota lost money. If we expand that to northwest Minnesota, the impacts of the fall harvest brought the average down.” There is still a lot of uncertainty in agriculture today. “As we sit here in March, things don’t look great for 2020 either. We hope things can resolve and we can get to a decent spring planting. Farmers have to be in the battle in how we will continue to push through based on what we see today.”
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