April 18, 2016
Star Tribune: Minnesota crop farmers are tightening budgets as they face another rough year
Star Tribune reporter Tom Meersman interviewed Dale Nordquist, University of Minnesota Extension economist, and David Bau, Extension educator, for an April 17 business feature on a deteriorating economic outlook for crop farmers. Extension programming in agricultural business management guides farmers with information and analysis that helps them make decisions best fitting their own situation regarding prices, marketing, spending and other factors.
“It’s not doom and gloom for everybody,” Bau told the Star Tribune. “People that have higher debt levels and people that have higher rental rates are going to be the first ones to really feel the pain if crop prices don’t improve.” Extension, jointly with Minnesota State Colleges and Universities (MnSCU), put out its annual farm income report in March, showing that incomes for Minnesota farms continued to decline in 2015, reaching their lowest point in inflation-adjusted dollars in 20 years.