Farm Production Expenses Fall for First Time in Nearly 25 Years

U.S. farm production expenditures decreased by nearly $20 billion in 2009, after setting a record high in 2008. This is the first major decline in nearly a quarter century, according to the "Farm Production Expenditures 2009" summary released by the National Agricultural Statistics Service. The average production expenditure per farm fell 6.4 percent in 2009 from $140,075 to $131,137. The decrease was seen in all major categories with average feed costs dropping by 4 percent to $20,533 per farm and the average cost for fertilizer, lime and soil conditioners decreasing 10.7 percent to $9,171. Read more.