The USDA reports U.S. farmers spent $397.6 billion on agricultural production in 2014.
That’s up 8.3 percent from 2013 and the largest year to year increase since 2008.
The biggest expenditure was feed at almost $64 billion, 16 percent above the previous year. Farm service, livestock, poultry and related expenses, and labor expenditures also had to year increases.
On average, per farm, annual spending was $191,500, 9.3 percent larger than in 2013. Crop farms spent more than livestock operations, $213,150 compared to $173,285, but USDA notes the difference in expenditures for 2014 was less than in previous years.
The Midwest spent the most on the business of farming, $124 billion, followed by the Plains at $99.3 billion.
Source: www.brownfieldagnews.com