Minnesota Farmers Made Less

According to a survey conducted by the University of Minnesota, Minnesota farmers earned less last year than they did in 2007.
The decline is blamed on the price of land and the cost of supplies.
In 2008 farmers were reported to have made $90,039 which is 15 percent less than normal. The losses are blamed on the cost of feed for livestock.
The Star Tribune reports that the median beef profit was $6,810 and hogs were at $4,876 down from $65,720 in 2007.
Other figures to note include:
*The top farm earned $350,470. The lowest farm range lost 20 percent of revenue.
*Crop farms had a median net income of $130,252 only slightly less than 2007.
*Dairy profits fell 38 percent to a median of $58,081.
The full survey is available online here.
Although numbers were down in Minnesota, farm land value is higher in many states. If you are interested in investing in farm land and joining the agricultural industry contact Farm Plus today. Low rate farm loans are available for you today. Call 866-929-5585 or contact us online for more information regarding farm loans.