U.S. farmers spent $367.3 billion on agricultural production in 2013. That’s a 2% increase from 2012, according to the Farm Production Expenditures report, released in August by the U.S. Department of Agriculture's National Agricultural Statistics Service (NASS).
Per farm, that tallies to $175,270, compared with $171,309 in 2012. Crop farm expenditures averaged $211,659, versus $143,521 per livestock farm.
By region, the Midwest saw the largest increase in production expenditures, with a $3.7 billion gain from the previous year. Total expenditures by region are: $118.5 billion for the Midwest, $87.6 billion for the Plains, $76.9 billion for the West, $45.5 billion for the Atlantic and $38.8 billion for the South.
Other report highlights include:
• Total fuel expense was $16.4 billion.
• Rent was the largest crop farm expense, at $26.4 billion (12.8% of total operational costs).
• Combined crop inputs (chemicals, fertilizers, and seeds) accounted for $56.1 billion ( 27.1 % of total operational costs).
• Fertilizer, lime and soil conditioners accounted for $23.8 billion, (11.5% of total operational costs).
• Feed was the largest livestock expense, at $55.7 billion (34.7% of total operational costs).
• The four states with the largest total expenditures (all above $20 billion) were California, Iowa, Texas and Nebraska.
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