2014 FINBIN Report On Minnesota Farm Finances

Apr 14, 2015

Crop farms and livestock farms had very different years in 2014 based on analysis of the 2183 farms that participated in Minnesota farm business management programs.

The median income for all farms was $43,129, up 3% over 2013. But this small change hides major differences in the earnings of the diverse sectors of Minnesota’s farm economy.

Crop farmers, for the second consecutive year, suffered a steep decline in earnings, while many livestock producers had one of their best years ever. The 2014 FINBIN Report on Minnesota Farm Finances provides a full summary of 2014 results. Data is provided by MnSCU Minnesota Farm Business Management and the Southwest Minnesota Farm Business Management Association.

Source:umn.edu

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.