Minnesota farm production expenditures totaled $20.2 billion in 2021, according to the USDA, National Agricultural Statistics Service -- Farm Production Expenditures 2021 Summary report. This was $2.26 billion above the 2020 total expenditures.
Feed expense, up 36 percent to $3.69 billion, represented the largest single production expense in Minnesota in 2021, accounting for 18 percent of the total.
Rent, up 2 percent to $2.06 billion, was the second largest expense and accounted for 10 percent of total expenditures.
Farm Services was down 8 percent to $1.93 billion and accounted for 10 percent of the total.
The largest percentage increases from last year were for Tractors and Self-Propelled Farm Machinery (up 154 percent), Miscellaneous Capital Expenses (up 125 percent), and Feed (up 36 percent).
The largest percentage decreases from last year were for Interest (down 18 percent), Farm Services (down 8 percent), and Farm Improvements (down 4 percent).
Categories: Minnesota, Business