According to the Minnesota State Farm Business Management annual report, state farmers experienced the highest net farm income in 2021 than in the past seven years. “If we were to reflect back 12 months, we were worried about the high level of farm program payments,” said Keith Olander, executive director, AgCentric. “From that standpoint, it really became a management piece. With inflation, there’s a lot of challenges and a lot of dollars going through operations, so management is even more important.” According to the report, average net farm income was over $267,000, which was an increase of 54 percent from 2020. The average farm statewide spent $1.1 million on crop and livestock production and family living expenses. In the Red River Valley, that total was over $2 million “I think this just goes to show that the farmers have to realize that their decisions affect a lot of dollars.”
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