Posted Wednesday, January 22, 2014 --- 11:11 a.m.
MADISON, Wis. (AP) -- 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 Wednesday 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.
Copyright 2014 The Associated Press.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.