U.S. Farm Expenditures and Survey Says Farm Bill Unlikely
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The USDA has released the 2022 U.S. Total Farm Production Expenditures summary that are estimated at $452.7 billion, up from $392.9 billion in 2021, up 15.2%.
The four largest expenditures totaled $219.6 billion, accounting for 48.5% of total expenditures last year.
These include feed, 18.5%, farm services, 10.8%, livestock, poultry, and related expenses, 10.1%, and labor, 9.2%.
**Ethanol groups welcome new legislation that seeks to level the playing field for vehicles running on low-carbon liquid fuels like ethanol.
The Fuel Fairness Act, introduced last week, would provide a meaningful incentive for automakers to manufacture flex-fuel vehicles in addition to battery electric vehicles.
Growth Energy CEO Emily Skor says, “This bill would level the playing field, so both electricity and low-carbon biofuels can drive progress toward a net-zero future.”
**For the first time in Purdue University polling, more farmers than not say Congress is UNLIKELY to pass a farm bill this year.
Some 36% of large-scale farmers and ranchers surveyed for the Ag Economy Barometer said a farm bill was “very” or “somewhat” unlikely this year.
Two months ago, 40% said it was “very” or “somewhat” LIKELY this year. Now, only 30% say so.
www.agriculture.com/farmers-doubt-there-will-be-a-farm-bill-this-year-poll-7568634
