Farm expenditures up more than 15%

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Farm production expenditures in the United States are estimated at $452.7 billion for 2022, up from $392.9 billion in 2021, according to a news release issued Monday by the U.S. Department of Agriculture National Agricultural Statistics Great Lakes Region.

The 2022 total farm production expenditures are up 15.2% compared with 2021 total farm production expenditures. All 17 expenditure items showed an increase from the previous year.

The four largest expenditures at the United States level total $219.6 billion and account for 48.5% of total expenditures in 2022. These include feed, 18.5%; farm services, 10.8%; livestock, poultry and related expenses, 10.1%; and labor, 9.2%.

In 2022, total farm expenditure average per farm is $226,986, up 15.8% from $196,087 in 2021. On average, farm operations spent $41,917 on feed, $22,864 on livestock, poultry and related expenses, $24,469 on farm services and $20,858 on labor.

For 2021, farms spent an average of $32,540 on feed, $22,458 on farm services, $21,161 on livestock, poultry and related expenses and $18,366 on labor.

The economic sales class contributing most to the 2022 total expenditures is the $1,000,000 to$4,999,999 class with expenses of $149.1 billion, 32.9% of the United States total, up 22.1% from the 2021 level of $122.1 billion.

The next highest is the $5,000,000 and over class with $130.8 billion, up 11.8% from $116.9 billion in 2021.

The Midwest region, which includes Indiana, Illinois, Iowa, Michigan, Minnesota, Missouri, Ohio and Wisconsin, contributed the most total expenditures with expenses of $141.6 billion (31.4%), up from $124.9 billion in 2021. Other regions, ranked by total expenditures, are the Plains at $112.1 billion (24.8%), West at $98.0 billion (21.7%), Atlantic at $54.0 billion (11.9%) and South at $47.0 billion (10.4%).

For information on farm expenditures, visit nass.usda.gov/Statistics_by_Subject/Economics_and_Prices/index.php.

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