- Associated Press - Sunday, May 8, 2016

MITCHELL, S.D. (AP) - An analysis has found that the average South Dakota farm pumped more than $1 million into the local economy last year.

The Daily Republic reports (https://bit.ly/1SZMACm ) that Mitchell Technical Institute’s South Dakota Center for Farm/Ranch Management found that farmers in the state spent close to $1.1 million in operating costs, capital investments and family living expenses in 2015.

Much of that spending stays in-state.

Instructor Kathy Meland says 2015 was a rough year for farmers because crop prices declined more than expenses. Cash-farm income is down to levels not seen since 2009. The average farm incurred more than $887, 000 in expenses in 2015, with cash-farm income just above $1 million.

Meland says 2016 so far doesn’t look like a better year financially for South Dakota farmers.

___

Information from: The Daily Republic, https://www.mitchellrepublic.com

LOAD COMMENTS ()

 

Click to Read More

Click to Hide