U.S. 2014 farm production expenditures were estimated at $397.6 billion, up 8.3% from $367.3 billion in 2013. Nearly all expenditure items increased from the previous year, according to the USDA’s National Ag Statistics Service.
Nationally, the four largest expenditures – feed, farm services, livestock and related expenses, and labor – totaled $188.3 billion, 47.3% of total 2014 expenditures. On a percentage basis, feed accounted for 16% of the total; farm services, 11.4%; livestock, poultry and related expenses, 11.3%; and labor, 8.6%.
Total expenditures averaged $191,500 per farm in 2014, compared with $175,270 in 2013, up 9.3%. On average, U.S. farm operations spent $30,680 on feed; $21,818 on farm services; $21,722 on livestock, poultry and related expenses; and $16,472 on labor.
Total fuel expense was $16.7 billion, with diesel, the largest sub-component, at $10.6 billion, accounting for 63.5%. Diesel expenditures were down 2.8% from the previous year. Gasoline, at $3.1 billion, was up 3.3%; LP gas was $2.1 billion, up 16.5%; and other fuel was $950 million, up 28.4%.
Crop farms expenditures decreased to $202.2 billion in 2014, down 2.1%, while livestock farms expenditures increased to $195.4 billion, up 21.5%.
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