By Scout Nelson
In 2024, Nebraska’s total farm and ranch production expenses rose to $30.4 billion, marking a 7% increase compared to the previous year, according to the USDA's National Agricultural Statistics Service.
Livestock costs remained the highest expense category, reaching $8.45 billion—a notable 11% increase from 2023. Feed expenses, the second-largest category, totaled $3.98 billion, up 15% year-over-year. Rent followed at $2.79 billion, showing a smaller rise of 2%.
Livestock expenses made up 28% of the state’s total production costs, followed by feed at 13%, rent at 9%, and farm services at 8%. These figures highlight the significant financial commitment involved in maintaining agricultural operations in Nebraska.
On average, the production cost per farm or ranch was $686,230 in 2024—up 9% from 2023. Livestock expenses per operation were the largest, averaging $190,745, which is 3.8 times the national average. Feed expenses came to $89,842 per operation, 1.2 times the national average. The rent per farm was $62,980, 1.7 times higher than the national figure. Farm service costs averaged $54,176 per operation, nearly equal to the national average.
These insights were gathered through the Agricultural Resource Management Survey conducted by the USDA’s National Agricultural Statistics Service. The survey took place from January through April 2024, gathering detailed data from Nebraska producers regarding their annual operational expenses.
This data highlights the growing financial demands on agricultural operations in Nebraska, especially in areas like livestock care and feed. These increasing costs will continue to influence future planning and investment across the state’s agricultural sector.
Photo Credit:gettyimages-fotokostic
Categories: Nebraska, Livestock