Kelly Manufacturing



National & World Ag News Headlines
U.S. Agriculture Production Costs Sharply Decline in 2015
USAgNet - 08/05/2016

U.S. farmers spent $362.8 billion on agricultural production in 2015, down 8.8 percent from 2014, reversing a long-term trend of growing costs, according to the Farm Production Expenditures report, published Thursday by the USDA's National Agricultural Statistics Service.

Feed and farm services, the two largest expenditure categories for U.S. farmers in 2014, both declined 8.2 percent last year. Producers spent $58.5 billion on animal feed, and $41.6 billion on farm services in 2015. One of only two expenditure categories that increased last year was livestock, poultry and related expenses, on which the producers spent $45.4 billion last year, an increase of 0.7 percent from 2014. The other was miscellaneous capital expenditure at 700 million, an increase of 16.7 percent.

Unlike the previous years, in 2015, the livestock sector accounted for the larger portion of the production expenditures. Livestock producers spent $182.6 billion, down 6.6 percent from 2014. Crop growers spent $180.3 billion, down 10.9 percent from 2014.

Per farm, the average expenditures total $176,181 compared with $191,500 in 2014, down 8.0 percent. Last year, an average U.S. farm spent $28,408 on feed, $22,047 on livestock, poultry and related expenses, $20,202 on farm services, and $15,443 on labor.

Regionally, the largest decrease was in the U.S. Midwest region, where agricultural production expenditures decreased by $11.0 billion since 2014.

The Farm Production Expenditures summary provides the official estimates for production input costs on U.S. farms and ranches.

Send this article to a friend


Other National Headlines

LaForage Systems
Kelly Manufacturing
Copyright 2019 - USAgNet.com. All Rights Reserved.