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Minnesota Ag News Headlines |
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Minnesota Farm Production Expenses Total Nearly $18 Billion
Minnesota Ag Connection - 08/02/2021
Minnesota farm production expenditures totaled $17.9 billion in 2020, according to the USDA, National Agricultural Statistics Service -- Farm Production Expenditures 2020 Summary report. This was $65 million more than 2019 total expenditures.
Feed expenses, which decreased $500 million to $2.71 billion, represented the largest single production expense in Minnesota in 2020, accounting for 15% of the total. Farm services was the second largest expense, totaling $2.10 billion and 12% of the total.
The largest percentage decreases were Miscellaneous Capital Expenses (down 20%), Fuels (down 19%), and Feed (down 16%).
The largest percentage increases were Trucks and autos (up 58%), Farm improvements (up 54%), and Other farm machinery (up 40%).
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