2021 Farm Production Expenses Surpassed $390 Billion
According to the USDA, farm production expenses hit $392.9 billion in 2021, a 7.3% year-over-year increase ($3.66.2 billion in 2020). The four biggest expenditures totaled $189.4 billion, just over 48% of all expenses last year. Those four are feed at 16%, farm services at 11%, livestock, poultry, and related expenses at 10%, with labor accounting for 9.4%.
The total fuel expense was $12.9 billion on 2021. Diesel is the largest sub-component and totaled $8.4 billion in expenditures, accounting for 65% of the total fuel outlay, and an 18% increase from 2020.
Gasoline expenses totaled $2.4 billion, 22% higher than the previous year. LP gas expenses rose to $1.4 billion in 2021, an 11% jump from 2020. Crop farm expenditures were $207.6 billion, up 6.2%, and livestock farm expenditures increased to $185.3 billion, up 8.5% in 2021.
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