Andy Quinn
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The United States Department of Agriculture (USDA) reported in August that farm profits would drop by more than 30 percent this year. It's bad news for an industry already plagued with high production costs and falling prices.
So how do our farmers, who struggle each year to just make a profit—let alone keep it—overcome such a downturn?
In Minnesota, more and more farmers are depending on each other by pooling their resources to start businesses, which ensures they're involved with processing, not just growing, crops.
By spreading risk among many farmers, growers are able to get into the higher value side of food and fuel production. And, the vertical integration that farmer-owned cooperatives bring can help a grower weather the tough times on the farm, says Andy Quinn, a corn and ethanol producer in Litchfield, Minnesota.