Farm Production Expenses Forecast Record High in 2013

The projected $19.2-billion increase in total expenses in 2013 continues a string of large year-to-year movements since 2002, and expenses are forecast to reach another record-high, at $352.9 billion (see table on production expenses ). Since 2003, nominal total production expenses will have risen by over $155 billion (79 percent) if forecasts are realized. In inflation-adjusted dollars, 2013 production expenses are expected to surpass the previous peak reached in 1979.