Farm Expenditures Top $367 Billion in 2013
August 15, 2014

American farmers spent $367.3 billion on agricultural production in 2013, a 2 percent increase from 2012, according to the Farm Production Expenditures report, published by the U.S. Department of Agriculture's National Agricultural Statistics Service (NASS).

Per farm, the average expenditures total $175,270 compared with $171,309 in 2012, up 2.3 percent.

The four largest expenditures at the U.S. level totaled $167.6 billion and accounted for 45.6 percent of total expenditures in 2013. These include feed (17 percent), farm services (10.6 percent), livestock, poultry and related expenses (9.3 percent) and labor (8.7 percent).

Total fuel expense was $16.4 billion. Diesel, the largest sub-component, is $10.9 billion, accounting for 66.5 percent. Diesel expenditures are up 4.8 percent from the previous year. Gasoline is $3.0 billion, down 3.2 percent. LP gas is $1.8 billion, up 25.7 percent. Other fuel is $740 million, up 5.7 percent.

Regionally, the largest increase in production expenditures was in the Midwest, which already accounted for nearly all farm production expenditures in the United States. In that region, expenditures rose by $3.7 billion from 2012.

The Farm Production Expenditures summary is available at http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1066.

Reprinted in part from MeatingPlace.com