U.S. farm production expenditures and farmland values rise

va-farm-bureauAmerican farmers spent $367.3 billion to run their businesses in 2013, according to a farm production expenditure report published recently by the U.S. Department of Agriculture’s National Agricultural Statistics Service. That figure tops 2012 expenditures by 2 percent.

Overall, crop farm expenditures in 2013 increased to $206.7 billion, up 0.9 percent, while livestock farm expenditures increased to $160.6 billion, up 3.4 percent.

The average per-farm expenditure was $175,270, up from $171,309 in 2012. The average crop farm expenditure was $211,659, compared to $143,521 for livestock farms.

“Per-farm expenditures can differ in various parts of the country due to the diversity of agriculture and the varied expenses that come with that,” said Jonah Bowles, senior agricultural market analyst with Virginia Farm Bureau Federation. “Cotton is not grown in Michigan, and sugar beets are not grown in Alabama. Sandy soils in the East will have a different set of production costs than those with 10-foot topsoil in the Midwest.”

Farmland values also have increased, according to the NASS 2014 Land Values report.

The report noted that in 2014 U.S. farm real estate value averaged $2,950 per acre, up 8.1 percent from 2013. Regional changes in the average value ranged from a 16.3 percent increase in the Northern Plains region to a 1.1 percent increase in the Southeast region. In the report’s Appalachian region, which includes Virginia, the average farm real estate value was $4,320 per acre, an increase of 0.2 percent.

Pasture value in the United States increased to an average of $1,300 per acre, or 11.1 percent above 2013. At the state level, the average value of 2014 pasture land ranged from $360 per acre in New Mexico to $13,500 in new jersey. In Virginia, the average was $3,930 per acre.

“Land values are a function of productivity and competition for other uses,” Bowles explained. He noted that $13,500-per-acre land in new jersey would not be profitable in hay and that the value comes from potential development demand. “Conversely, New Mexico land is valued at $350 because there is little production per acre and demand associated with urban sprawl is slight.”

The two reports are available at nass.usda.gov.

UVA Basketball Fans!

uva basketball team of destiny
Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, by Jerry Ratcliffe and Chris Graham, is available for $25. The book, with additional reporting by Zach Pereles, Scott Ratcliffe, and Scott German, will take you from the aftermath of the stunning first-round loss to UMBC in 2018 through to the thrilling overtime win over Texas Tech to win the 2019 national title, the first in school history.

Dick Vitale on Team of Destiny: “This is a hoops story you will LOVE! Jerry and Chris capture the sensational and dramatic championship journey by Tony Bennett and his tenacious Cavalier team. UVA was Awesome Baby and so is this book!”

Ralph Sampson on Team of Destiny: “Jerry and Chris have lived and seen it all, even before my time. I highly recommend this book to every basketball fan across the globe. This story translates to all who know defeat and how to overcome it!”

Buy here.




augusta free press
augusta free press news