By Scout Nelson
Farm and ranch production expenditures for Nebraska totaled $28.5 billion in 2023, down 1% from the previous year, according to USDA’s National Agricultural Statistics Service. Livestock expenses, the largest expenditure category, reached $7.59 billion, marking an 11% increase from 2022.
In contrast, feed expenses, the next largest category at $3.45 billion, decreased by 24% from 2022. Rent expenses, the third largest category at $2.74 billion, saw a 7% decrease from the previous year.
Livestock expenses accounted for 27% of Nebraska’s total production expenditures. Feed expenses accounted for 12%, rent for 10%, and farm services for 8%. The average total expenditures per farm or ranch in Nebraska were $632,556 in 2023, down 2% from 2022.
The livestock expense category led with an average expenditure of $168,667 per operation, which is 5.72 times the national average. The average feed expenditure was $76,667, 1.81 times the national average.
Rent expenditures averaged $60,889 per operation, 3.31 times the national average. Farm services expenditures per operation averaged $52,000, 1.80 times the national average.
In Kansas, farm and ranch production expenditures totaled $24.2 billion in 2023, up 2% from the previous year. The largest expenditure category, livestock expenses, was $9.19 billion, a 33% increase from 2022. Feed expenses, the next largest category at $3.47 billion, decreased by 28% from 2022. Farm services, the third largest category at $2.00 billion, saw a 21% increase from the previous year.
Livestock expenses accounted for 38% of Kansas’s total production expenditures. Feed expenses accounted for 14%, farm services for 8%, and fertilizer, lime, and soil conditioners for 7%.
The average total expenditures per farm or ranch in Kansas were $427,989 in 2023, up 4% from 2022. The livestock expense category led with an average expenditure of $162,799 per operation, 5.52 times the national average.
Feed expenditures averaged $61,470 per operation, $19,130 above the national average. Fertilizer and soil conditioners averaged $28,344, $9,397 above the national average. The average rent expenditure was $23,384, $4,966 above the national average.
These data highlight the significant economic contributions and challenges faced by farmers and ranchers in Kansas and Nebraska, emphasizing the importance of livestock and feed management in their operations.
Photo Credit: gettyimages-pamwalker68
Categories: Kansas, General, Livestock