Despite average crop yields, Minnesota farmers had a rough 2023. Northland Community and Technical College Farm Business Management Instructor Betsy Jensen blames rising input costs. “Repairs have almost doubled, land rent has almost doubled, fertilizer has almost doubled and everything else has increased significantly. There’s a significant jump in expenses per acre and I’m not sure how we’re going to sustain that.” Jensen says margins will likely remain tight. “Every penny matters; 2023 profitability was not great and 2024 cash-flows are even worse.”
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.