MITCHELL, S.D. (KELO AM) South Dakota farmers endured an average drop in net farm income last year of nearly 66 percent.
That's according to the annual report compiled on farms in the South Dakota Center for Farm/Ranch Management program at Mitchell Technical Institute.
The drop in 2015 was even worse at 77 percent.
It is still more hard evidence of the very real struggles in farm country right now because of sinking commodity prices and soaring input prices.
“I’m a real numbers person rather than percentages. So in simpler terms, we’ve gone from very prosperous in 2010-2012, to somewhat prosperous in 2013-2014, to just getting by in 2015, and now to being in need of substantial improvement to sustain the farm/ranch business’s future,” says Program Director Will Walter.
Walter's analysis shows that the average net farm income in 2016 was $13,308 compared to the 2015 average of $38,898.
There's much more on the annual report at www.sdcfrm.com