Report: Minnesota livestock producers had profitable 2014

Minnesota crop farmers saw their incomes drop last year by almost two-thirds, but livestock producers had one of their best years ever.

The information was compiled by the University of Minnesota and the state college system from more than 2,000 farms.

Hog, cattle and dairy producers averaged a median net income of about $138,000, boosted by record or near record prices, compared with $38,000 in 2013.

But for crop farmers, low corn, soybean and wheat prices sank incomes to an average of about $17,000. That's down from $261,000 in 2012.

Overall, Minnesota farm incomes rose about 3 percent last year, to just over $43,000.

The report warns that livestock and crop growers alike face tougher times this year.

The Associated Press contributed to this report.

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