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News Article

Farm Study

Farm Study
Study shows income decline for farmers, ranchers in 2016
The Associated Press - April 24, 2017

MITCHELL, S.D. - Farms enrolled with the South Dakota Center for Farm and Ranch Management reported a 68 percent decrease in their net income.

More than 100 farms, mostly located in eastern South Dakota, are part of the program run by Mitchell Technical Institute. Statistics from the center show the average net income decreased to $13,308 last year, down from $38,898 in 2015.

This follows a 77 percent decrease between 2014 and 2015.

Program director William Walter said depressed commodity prices, unchanged production costs and land costs are part of the reason for the dip. He said while there's not much promise in the short-term, those farmers who own land are in good shape.

The group only represents a small portion of the 3,000 farmers in the state.



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