NASHVILLE, TN – Farm production expenditures in the U.S. totaled $477.6 billion in 2024, down nearly 1 percent from 2023, according to USDA’s annual Farm Production Expenditures report.
Feed, farm services, labor, and livestock-related expenses were the top four categories, accounting for nearly half of all costs. Feed led at $73.2 billion, followed by farm services at $55.5 billion, labor at $51.5 billion, and livestock and poultry at $49.6 billion.
Average spending per farm declined to $254,043. Diesel remained the largest fuel expense at $9.9 billion but fell 9 percent from last year.
By region, the Midwest led all others with $149.1 billion in total expenses, followed by the Plains at $111.6 billion and the West at $107.5 billion. California topped state-level spending at $48.6 billion, despite a nearly 8 percent drop from 2023.