Farm Expenditures On The Increase

Farm producers paid a little more than 4% more last year for their expenditures, compared to 2016.  That's according to the USDA's annual look at this part of the farm sector.

"For 17 of the line-items that NASS tracks, 13 showed an increase from the previous year and the rest showed a decrease,” said USDA Deputy Chief Economist Warren Preston said.

That includes what is considered the four largest expenditures to U.S. Agriculture, feed, farm services, raising livestock and poultry and their related expenses, and labor.

"The four biggest expenditures totaled $176.2B and account for 49% of the total expenditures in 2017."

By commodity sector, both crop and livestock farm expenditures rose by similar amounts year-over-year.  With crop farm expenditures up almost 4-percent in 2017, and livestock expenditures increasing 3.5% from the previous year.

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