Selected U.S. farm production expenses, 2022–2024F

Horizontal bar chart with 10 groups and 3 items per group.

Billion dollars (nominal)

Nominal increase 2023F–2024F
Group 1, Feed purchases.
Item 1, 2022 83.658.
Item 2, 2023F 79.858.
Item 3, 2024F 80.613.
Group 2, Labor.
Item 1, 2022 41.909.
Item 2, 2023F 44.148.
Item 3, 2024F 47.414.
Group 3, Fertilizer.
Item 1, 2022 36.855.
Item 2, 2023F 30.396.
Item 3, 2024F 31.709.
Group 4, Livestock/poultry purchases.
Item 1, 2022 34.642.
Item 2, 2023F 41.14.
Item 3, 2024F 44.442.
Group 5, Seed purchases.
Item 1, 2022 24.917.
Item 2, 2023F 25.676.
Item 3, 2024F 26.878.
Group 6, Interest.
Item 1, 2022 24.091.
Item 2, 2023F 34.17.
Item 3, 2024F 34.391.
Group 7, Pesticides.
Item 1, 2022 21.322.
Item 2, 2023F 19.484.
Item 3, 2024F 20.893.
Group 8, Property taxes/fees.
Item 1, 2022 16.835.
Item 2, 2023F 18.525.
Item 3, 2024F 19.352.

Nominal decrease 2023F–2024F
Group 9, Fuel/oil.
Item 1, 2022 18.493.
Item 2, 2023F 16.33.
Item 3, 2024F 15.123.
Group 10, Net rent.
Item 1, 2022 16.102.
Item 2, 2023F 16.859.
Item 3, 2024F 16.483.

Note: F = forecast.

Source: USDA, Economic Research Service, Farm Income and Wealth Statistics. Data as of February 7, 2024.