Ohio Ag Connection - Midwest Region Farm Production Expenditures Over $112 Billion

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Midwest Region Farm Production Expenditures Over $112 Billion
Ohio Ag Connection - 08/03/2021

Farm production expenditures in the United States are estimated at $366.2 billion for 2020, up from $357.8 billion in 2019. The 2020 total farm production expenditures are up 2.3 percent compared with 2019 total farm production expenditures. Thirteen expenditure items showed an increase from the previous year, while four showed a decrease. The four largest expenditures at the United States level total $177.8 billion and account for 48.5 percent of total expenditures in 2020. These include feed, 15.5 percent, farm services, 12.2 percent, livestock, poultry, and related expenses, 10.8 percent, and labor, 10.0 percent.

In 2020, the United States total farm expenditure average per farm is $182,130, up 2.6 percent from $177,564 in 2019. On average, United States farm operations spent $28,250 on feed, $19,695 on livestock, poultry, and related expenses, $22,232 on farm services, and $18,253 on labor. For 2019, United States farms spent an average of $29,478 on feed, $21,240 on farm services, $21,240 on livestock, poultry, and related expenses, and $17,270 on labor.

The United States economic sales class contributing most to the 2020 United States total expenditures is the $1,000,000 - $4,999,999 class, with expenses of $116.4 billion, 31.8 percent of the United States total, up 2.4 percent from the 2019 level of $113.7 billion. The next highest is the $5,000,000 and over class with $97.9 billion, unchanged from $97.9 billion in 2019.

The Midwest region -- which includes Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio, and Wisconsin -- contributed the most to United States total expenditures with expenses of $112.8 billion (30.8 percent), up from $111.5 billion in 2019. Other regions, ranked by total expenditures, are the West at $86.1 billion (23.5 percent), Plains at $85.3 billion (23.3 percent), Atlantic at $44.2 billion (12.1 percent), and South at $37.8 billion (10.3 percent). The Plains decreased $2.59 billion from 2019, which is the largest regional decrease.

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