Farm Production Expenditures
The USDA says farm production expenditures in the US were higher last year than in 2018.
Bill Meyer, Director of the Colorado National Agricultural Statistics Service says producers nationwide spent about $358 billion in 2019, up nearly 4.0 billion from 2018.
Meyer: “ The four largest expenditures at the United States level total $179.8 billion and account for 50.3 percent of total expenditures in 2019. These include feed, 16.6 percent, farm services, 12.0 percent, livestock, poultry, and related expenses, 12.0 percent, and labor, 9.7 percent.
The Midwest region contributed the most to total expenditures with expenses of more than $111 billion (up 31.2 percent), The Plains states spent nearly $88 billion (up 24.6 percent). Western states spent an additional 22 percent at $79 billion. The Plains decreased spending $3.82 billion from 2018, the largest regional decrease.
A breakdown can be found at NASS.USDA.GOV
Meyer says next week will be the first look at the forecast for corn yields and follow up for Winter Wheat yields.