Farm Values and Expenditures on the Rise, Congress Asks for Dropping of COOL rule
- USDA announced on Friday that U.S. farmers spent $367.3 billion on agricultural production in 2013.
The National Agriculture Statistics Service report said the average per farm expenditures totaled $175,270. That figure is up 2.3 percent from 2012.
Crop farms accounted for the majority of the production expenditures last year. The average expenditure per crop farm totaled $211,659 compared to $143,521 per livestock farm.
The 2014 Land Value Report was also released Friday and estimated farm real estate values are averaging $2,950 an acre this year. That’s 8.1 percent higher from last year.
- Food Safety News reports if the World Trade Organization sides with Canada and Mexico on country of origin labeling, Congress members will request USDA to drop the rule.
112 members of congress sent the letter to USDA Secretary Tom Vilsack. It states: “If the WTO finds the COOL rule to be non-compliant, the resulting consequences could have a detrimental impact on our economy.”