Farm production expenditures up more than 7%
Farm production expenditures in the United States are estimated at $392.9 billion for 2021, up from $366.2 billion in 2020. The 2021 total farm production expenditures are up 7.3 percent compared with 2020 total farm production expenditures, accordign to the USDA National Agricultural Statistics Service.
While 15 expenditure items showed an increase from previous year, only two showed a decrease. The four largest expenditures at the United States level total $189.4 billion and account for 48% of total expenditures in 2021. These include feed, 16.6%, farm services, 11.5%, livestock, poultry, and related expenses, nearly 11%, and labor, 9.4%.
In 2021, the United States total farm expenditure average per farm is $196,087, up 7.7% from $182,130 in 2020. On average, United States farm operations spent $32,540 on feed, $21,161 on livestock, poultry, and related expenses, $22,458 on farm services, and $18,366 on labor. For 2020, United States farms spent an average of $28,250 on feed, $22,232 on farm services, $19,695 on livestock, poultry, and related expenses, and $18,253 on labor.
The United States economic sales class contributing most to the 2021 United States total expenditures is the $1,000,000 – $4,999,999 class, with expenses of $122.1 billion, 31% percent of the United States total, up nearly 5% from the 2020 level of $116.4 billion. The next highest is the $5,000,000 and over class with $116.9 billion, up 19.4% from $97.9 billion in 2020.
The Midwest region, which includes Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio, and Wisconsin contributed the most to United States total expenditures with expenses of $124.9 billion (31.8%), up from $112.8 billion in 2020. Other regions, ranked by total expenditures, are the Plains at $99.2 billion (25.2%), West at $86.7 billion (22.1%), Atlantic at $42.9 billion (10.9%), and South at $39.2 billion (10%).