2012 U.S. farm expenditures up 10 percent from previous year
According to the USDA Farm Production Expenditures report, farm expenditures between 2011 and 2012 increased by over 10 percent. Expenditures in 2011 were estimated at $318.7 billion and rose to $351.8 billion in 2012.
The largest expenditures were for feed, farm services, livestock, and labor. These four totaled $161.8 billion and accounted for 46 percent of total expenditures in 2012. Farmers spent, on average, 11 percent more to maintain their farms in 2012 than they did in 2011.
The total fuel expense in 2012 was $15.4 billion, says the USDA report. Farms spent $10.3 billion on diesel fuel, up 2.2 percent from the previous year. Gasoline expenditures rose 11.1 percent to $3.1 billion. LP gas, however, fell 19.3 percent to $1.3 billion.
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