Posted Aug. 6, 2012

It will likely come as no surprise to Iowa hog farmers that more money was spent on feed than anything else in 2011.

The latest USDA National Agricultural Statistics Service Farm Production Expenditures Annual Summary report shows feed expenses increased 9.6 percent from 2010 to 2011 to reach $3.99 billion. Feed expenses accounted for 16.5 percent of Iowa’s total farm production expenditures last year, the highest percentage for any single category.

Iowa farm production expenditures totaled $24.2 billion in 2011. This is a 12 percent increase from 2010. Fertilizer, lime and soil conditioners increased from 8.4 percent in 2010 to 9.7 percent of Iowa’s total farm production expenditures in 2011, the largest percentage increase.

Farm production expenditures in the United States are estimated at $318.7 billion for 2011, up from $289.1 billion in 2010. The total 2011 expenditures rose 10.2 percent compared with 2010 total expenditures. All expenditure items except Interest and Labor increased from the previous year.

The four largest expenditures at the United States level totaled $147.1 billion and accounted for 46.1 percent of total expenditures in 2011. They are: Feed, 17.1 percent; Farm services, 11.6 percent; Livestock, poultry and related expenses, 9.0 percent; and Labor, 8.4 percent.