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Iowa Ag News Headlines |
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Iowa Farm Production Expenditures Total $28.5 Billion
Iowa Ag Connection - 08/02/2021
Iowa farm production expenditures totaled $28.5 billion in 2020, according to the USDA, National Agricultural Statistics Service -- Farm Production Expenditures 2020 Summary report. This was $1.85 billion less than the 2019 total expenditures.
Feed expense, which decreased 15% to $5.90 billion, represented the largest single production expense in Iowa in 2020, accounting for 21% of the total. Livestock, Poultry, and Related purchases, which decreased 9% to $4.51 billion, was the second largest expense, and accounted for 16% of total expenditures. Rent expense decreased 6% to $3.61 billion and accounted for 13% of the total.
The largest percentage increases from last year were for Fertilizer, lime, and soil conditioners (up 17%), Taxes (up 15%), and Farm services (up 10%). The largest percentage decreases from last year were for Farm improvements (down 51%), Miscellaneous capital expenses (down 33%), and Trucks and autos (down 23%).
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