August 6, 2018
Total farm production expenditures were 3.7% higher in 2017 compared to 2016, according to the Farm Production Expenditures, 2017 Summary, released Aug. 2, 2018.
Farm production expenditures in the United States are estimated at $359.8 billion for 2017, up from $346.9 billion in 2016. For 17 line items, 13 showed an increase from previous year, while four showed a decrease.
Here’s some highlights of the report:
The four largest expenditures total $176.2 billion and account for 49% of total expenditures in 2017. These include feed, 15.3%; farm services, 12.2%; livestock, poultry and related expenses, 11.7%, and labor, 9.8%.
In 2017, the U.S. total farm expenditure average per farm is $176,352, up 4.3% from $169,035 in 2016. On average, U.S. farm operations spent $27,056 on feed; $20,635 on livestock, poultry and related expenses; $21,468 on farm services and $17,204 on labor.
Total fuel expense is $12 billion. Diesel, the largest sub component, is $7.6 billion, accounting for 63.3%. Diesel expenditures are up 2.7% from the previous year. Gasoline is $2.2 billion, up 4.8%. LP gas is $1.4 billion, up 22.4%. Other fuel is $780 million, up 21.9%.
The U.S. economic sales class contributing most to the 2017 U.S. total expenditures is the $1 million to $4.9 million class, with expenses of $114.9 billion, 31.9% of the U.S. total, up 1.7% from the 2016 level of $113 billion. The next highest is the $5 million and higher class with $84.2 billion, up from $80.6 billion in 2016.
In 2017, crop farms expenditures increased to $183.9 billion, up 3.9%. The largest expenditures for crop farms are labor at $25.4 billion, 13.8%; rent at $24.9 billion, 13.5%; and farm services, $24.4 billion, 13.3%. Combined crop inputs, which includes chemicals, fertilizers and seeds, are $51.8 billion, which accounts for 28.2% of crop farms total expenses.
In 2017, livestock farms expenditures increased to $175.9 billion, up 3.5%. The largest expenditures for livestock farms are feed at $53.4 billion, 30.4% of total; livestock, poultry and related expenses at $40.1 billion, 22.8%; and farm services at $19.4 billion, 11%. Together, these items account for 64.2% of total expenses at livestock farms. The average total expenditure for a crop farm is $210,081 compared to $151,005 per livestock farm.
The Midwest region contributed the most to total expenditures with expenses of $109.1 billion, 30.3%, up from $108.9 billion in 2016. Other regions, by rank, the Plains, $93.7 billion, 26%; West, $77.7 billion, 21.6%; Atlantic, $43.1 billion, 12%; and the South, $36.2 billion, 10.1%.
California contributed most to the 2017 U.S. total agriculture expenditures, with 10.4%. Iowa was second with 7.3%.
Source: USDA NASS
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