What was the average net profit or loss for the majority of New England farms in 2017?
Answer
Average net profits of -$10,422
Financial pressures within the agricultural sector, especially in regions like New England, reveal significant structural challenges for smaller producers competing against consolidated markets. Examining the net profits for 2017 shows a severe negative situation for the majority of farm businesses in the region. Specifically, nearly 66% of New England farms recorded an average net profit of negative $10,422. This means that more than two-thirds of farm operations were losing money after all operational expenses were accounted for. Farmers are typically price takers, unable to fully pass on rising input costs, which exacerbates this financial strain and limits investment capacity.
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