Farm production expenditures in the United States rose by 6.5 percent in 2023, totaling $481.9 billion, up from $452.5 billion in 2022.

The USDA Indiana Field Office reports the four largest expenditure categories—feed, livestock and poultry, farm services, and labor—accounted for nearly half of the total expenses.

In 2023, the average farm expenditure per operation was $255,047, a 12.4 percent increase from 2022.

On average, farms spent $42,340 on feed, $29,479 on livestock and poultry, $28,844 on farm services, and $25,669 on labor.

The economic class contributing the most to the total expenditures was farms with sales between $1 million and $4.99 million, making up 35.7 percent of the total.

The Midwest region, including states like Indiana and Illinois, led the nation with $151.2 billion in expenses.