• • • It’s Costing More To Farm, USDA Study Shows
The USDA’s National Agricultural Statistics Service released its data from 2017 on U.S. farm expenses. It’s no surprise, but it’s costing more and more to be a U.S. farmer, according to USDA statistics.
For U.S. farmers, 2017 expenses were estimated at $359.8 billion, up from $346.9 billion in 2016. The 2017 total farm production expenditures are up 3.7% compared with 2016 total farm production expenditures. For the 17-line items, 13 showed an increase from previous year, while the rest showed a decrease, according to the NASS report.
The four largest expenditures for farmers totaled $176.2 billion and account for 49.0% of total expenditures in 2017, the NASS report summary stated. These include feed at 15.3%, farm services at 12.2%, livestock, poultry, and related expenses equaled 11.7%, and labor made up 9.8% of expenditures. In 2017, the United States total farm expenditure average per farm is $176,352, up 4.3% from $169,035 in 2016, according to this NASS report.