August 11, 2016
Minnesota farm production expenditures totaled $17.3 billion in 2015, according to the latest USDA National Agricultural Statistics Service – Farm Production Expenditures Annual Summary report issued by the Upper Midwest Field Office.
This was down 10% from the 2014 total expenditures.
Feed expense, which declined 8% to $2.64 billion, represented the largest single production expense for Minnesota farmers in 2015, accounting for 15% of the total.
Rent payments were the second largest expense, totaling $2.11 billion and 12% of the total. This was down 8% from 2014.
The largest percentage decreases were Other Farm Machinery (down 43%) to $350 million and purchases of Tractors and Self-propelled Machinery (down 32%) to $530 million.
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