Income and investment in the farm sector are clearly the lowest of any in the district. Agricultural trade issues with Canada are a hot topic and actions to restrict imports from that country have been undertaken by farm groups and state governments. Dairy farmers, who enjoy near-record milk prices, very low feed costs and ample hay supplies, are a stark exception to the generally bleak pattern in agriculture. The natural resource sector continues slack with little change from earlier in the year. Energy output is stable, with little new leasing or drilling.
Nonferrous mines have largely stable output despite low output prices.
A Minnesota iron mine shut down one of five processing lines and others are contemplating similar cuts if demand continues to fall. Weakness in demand for ore is attributed to increased imports of steel from several countries. This slackness is reportedly due to strong import competition in finished steel and not any weakness in demand itself. Most paper producers face low prices and some are running below capacity. This is generally true across the district as retailers continue to report good sales in most urban areas.