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Minnesota farmer expects operating costs to double in 2024

A farmer in southern Minnesota expects much higher operating costs in 2024.

Rochelle Krusemark tells Brownfield a big reason is higher interest rates.

“The operating (cost) is obviously quite a bit, about double actually what it was last year (and) two years ago (so we’re) trying not to borrow as much. You try to get crops sold so that you can have the least amount borrowed.”

She tells Brownfield timing will be critical as she locks in inputs for next year.

“With the input prices (going) up and it sounds good, you might have to borrow a little money short-term until you can market some grain.”

Krusemark and her family grow corn, soybeans, custom finish hogs, and have a cow/calf beef herd near Trimont.