Wisconsin farmers close to record profit in 2013 - WKOW 27: Madison, WI Breaking News, Weather and Sports

Wisconsin farmers close to record profit in 2013

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MADISON (WKOW) -- Wisconsin farmers earned about $3.75 billion in profit last year, according to a report released Wednesday by the University of Wisconsin-Madison.  That total threatened the record $3.8 billion earned in 2011, and was $550 million more than Wisconsin farmers earned in 2012.

UW-Madison agricultural economist Ed Jesse says a healthy dairy industry generated much of the profit, with dairy farmers having a record $5.6 billion in milk sales. Jesse says that sales number reflects both high milk prices and increased production.

The UW-Madison's Renk Agribusiness Institute released the report, which also says several years of good profits have put Wisconsin farmers in a strong financial position. The report finds 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.

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