Farm Expenses

Farmers Business Network released its 2023 Ag Chemical Price Transparency Report last week, which highlighted the extreme price variation facing farmers.  The report collected information from 37 states and accounts for over 800 insecticides, fungicides, and herbicides.   “...

According to ERS, the interest expense ratio of farms  in 2020 was 0.04, remaining in line with the long-term trend and initial forecasts, despite the pandemic.  The COVID-19 pandemic reduced demand for agricultural commodities.  The interest...

According to the USDA, farm production expenses hit $392.9 billion in 2021, a 7.3% year-over-year increase ($3.66.2 billion in 2020).  The four biggest expenditures totaled $189.4 billion, just over 48% of all expenses last year.  Those four are feed at 16%, farm services at 11%, livestock, poultry, and related expenses at 10%, with labor accounting for 9.4%. The total fu...

The USDA is projecting a 5% increase in farm production expenses this year. And as USDA chief Economist Seth Meyer pointed out, its not just one, or two items going up. "Most every line within those production expenses showing year-over-year increases ...

The USDA said farm sector production expenses, including those associated with operator dwellings, are forecast to decrease by $4.6 billion to $344.2 billion in 2020 in nominal terms, which means not adjusted for inflation. That’s a 1.3% dr ...

According to NASS, total farm production expenditures fell in Washington last year. 2019 expenditures are estimated at $7.09 billion, down 13% from 2018’s $8.19 billion. The four largest expenditures in Washington accounted for 65% of total expenditures last year. And ...

According to the USDA’s latest figures, farm income will reach $96.7 billion in 2020, a 1.4% year over year increase.  That figure is a bit higher than the average annual income since 2000, but well below the peak of $139 billion in 2013.   B...

How has Washington agriculture changed over the past couple of years?   Chris Mertz with NASS said if you look at the 2017 Census of Ag, which was published earlier this year, one of the biggest notes for the Evergreen state was the drop in both the total numbers of farms and the number of acres.  ...

The USDA expects when we close the finical books on 2019, they will show that farm income increased about 10% year-over-year, thanks primarily to government trade aid payments, as well as total expenses remaining flat.  USDA's Chief Economist Rob Johansson said  total production expenses will end the year higher than 2018 but only by two tenths of one percent; which is pretty much flat.   ... Read

USDAs Economic Research Service has revised its 2018 farm income forecast into an estimate based on data of actual activity.   “So we have a pretty big adjustment in the net farm income estimate for 2018,” said USDA Deputy Chief Economist Warren Preston.  “In March of t...