Farm Expenditures Up in 2021
Editor's Note: Please keep in mind that the statistics in this report pertain to 2021 compared to 2020. The report that comes out next year at this time will no doubt show even more accelerated inflation.
North Dakota - Farm and ranch production expenditures for the Plains Region totaled $99.2 billion in 2021, up from $85.3 billion in 2020, according to USDA's National Agricultural Statistics Service. The Plains Region includes North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, and Texas. These results are based on data from farmers and ranchers in the Plains Region who participated in the Agricultural Resource Management Survey conducted by USDA's National Agricultural Statistics Service. Producers were contacted in January through April to collect 2021 farm and ranch expenses.
Minnesota - 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).
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