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Wis. farms see near-record $3.75B profit in 2013

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Posted: Wednesday, January 22, 2014 11:29 am | Updated: 11:31 am, Wed Jan 22, 2014.

MADISON, Wis. — Wisconsin farmers earned about $3.75 billion in profit last year, coming close to the record $3.8 billion earned in 2011.

That’s according to a report released today by the University of Wisconsin-Madison.

Farm profit in 2013 was $550 million more than in 2012.

UW-Madison agricultural economist Ed Jesse says a healthy dairy industry helped generate much of the profit. Wisconsin dairy farmers had a record $5.6 billion in milk sales, which reflects both high milk prices and increased production.

The report published by UW-Madison’s Renk Agribusiness Institute also says several years of good profits have put Wisconsin farmers in a strong financial position. On Dec. 31, 2012, the value of farm assets had increased by 8 percent from a year earlier, while debt increased by the same amount.

© 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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