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2018 Farm production expenditures up 7 percent

2018 Farm production expenditures up 7 percent

Farm and ranch production expenditures for Nebraska totaled $24.2 billion in 2018, up 7 percent from a year earlier, according to USDA’s National Agricultural Statistics Service. Livestock expenses, the largest expenditure category, at $8.09 billion, increased 28 percent from 2017. Feed, the next largest expense category at $3.10 billion, increased 3 percent from 2017. Rent, the third largest total expense category, at $2.44 billion, increased 2 percent from 2017. 

Livestock expenses accounted for 33 percent of Nebraska’s total production expenditures. Feed accounted for 13, rent 10, and farm services 8 percent. 

The total expenditures per farm or ranch in Nebraska averaged $528,105 in 2018, up 8 percent from 2017. The Livestock expense category was the leading expenditure, at $176,253 per operation, 7.69 times the national average. Rent expenditures, at $53,159 per operation, were 3.73 times the national average. The average feed expenditure, at $67,538, was 2.54 times the national average. Farm services expenditures per operation, at $43,791, were 2.01 times the national average. 

These results are based on data from Nebraska farmers and ranchers who participated in the Agricultural Resource Management Study conducted by USDA’s National Agricultural Statistics Service. Producers were contacted in January through April to collect 2018 farm and ranch expenses. 

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