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Iowa Ag News Headlines |
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Iow Farm Expenses Up $5 Billion Over 2019
Iowa Ag Connection - 08/03/2020
Iowa farm production expenditures totaled $30.4 billion in 2019, according to the USDA, National Agricultural Statistics Service -- Farm Production Expenditures 2019 Summary report. This was $5.06 billion more than the 2018 total expenditures.
Feed expense, which increased 62% to $6.92 billion, represented the largest single production expense in Iowa in 2019, accounting for 23% of the total. Livestock, Poultry, and Related purchases, which increased 22% to $4.94 billion, was the
second largest expense, and accounted for 16% of total expenditures. Rent expense increased 4% to $3.85 billion, and accounted for 13% of the total.
The largest percentage increases from last year were for Farm Improvements and Construction (up 125%), Feed (up 62%), Trucks and Autos (up 55%), and Other Farm Machinery (up 50%).
The largest percentage decreases from last year were for Interest (down 10%), Fuels (down 8%), and Taxes (down 2%).
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