According to the USDA, net farm income is expected to total nearly $103 billion in 2020. If realized, this would be the first time net farm income has been above $100 billion since 2013. AgCentric Director Keith Olander also anticipates a significant increase in net farm income. “Keep in mind when I say significant, we were running $30,000-to-$35,000 net farm income and for a business, that’s not significant.” Olander estimates 50-to-70 percent of the net farm income will be coming from government payments. Ridgewater College, based in Willmar and Hutchinson, will no longer offer farm business management by mid-summer. However, Olander emphasizes the farmer/students will not be impacted by this internal change.
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