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USDA sees increase in farm expenses
LINCOLN, Neb. (AP)--Farm production expenditures were up nearly 8 percent last year in an area that includes Nebraska, North Dakota, South Dakota and Kansas, the U.S. Department of Agriculture said July 16.
Money spent on things such as livestock, poultry, feed and rent totaled $26.1 billion in 2003 for the Northern Plains Region, the USDA's Nebraska Agricultural Statistics Service said.
Expenditures per farm in the region averaged $149,057 in 2003, up from $136,169 the year before.
Livestock, poultry and other related expenses accounted for about 18 percent of the region's total production expenses. Rent accounted for nearly 12 percent, feed was at about 11 percent and farm services hit 10 percent.
The money spent for livestock, poultry and related expenses averaged about $27,000 per farm, over three times the national average. Rent per farm was at $17,500, or twice the national average. Feed and farm services also were above both national averages.
The country's total farm production expenditures totaled about $200 billion in 2003, a 3 percent increase from the previous year.
A primary factor in the increase in expenditures was a rise in farm improvements and construction, the agricultural department said.
Date: 7/20/04
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