USDA estimates 2023 farm production expenditures in the U.S. at $481.9 billion, up from $452.5 billion the previous year. The four largest expenditures totaled $238.7 billion and accounted for 49.6 percent of total expenditures in 2023. These include feed at 16.6 percent, livestock, poultry, and related expenses at 11.6 percent, farm services accounted for 11.3 percent, and labor at 10.1 percent.
In 2023, the U.S. saw the total average farm expenditure reach $255,047, up 12.4 percent from $226,885 in 2022. On average, U.S. farm operations spent $42,340 on feed, $29,479 on livestock, poultry, and related expenses, $28,800 on farm services, and more than $25,600 on labor.
Total fuel expense in 2023 was $16.5 billion. Diesel was the largest sub-component at $10.9 billion, accounting for 66 percent. Diesel expenditures were down 4.4 percent from 2022. Gasoline expenditures reached $2.8 billion, down 5.7 percent from the previous year. LP gas reached $1.8 billion.
