MADISON, Wis. — New figures from the U.S. Department of Agriculture show production costs for Wisconsin farmers remained steady in 2016.
The average Wisconsin farm spent nearly $159,000 on feed, labor, machinery, fuel and other items last year. That’s just a fraction of 1 percent more than in 2015.
University of Wisconsin-Extension farm management specialist Kevin Bernhardt tells Wisconsin Public Radio expenses have remained low over the last few years due to falling oil prices.
Bernhardt says producers also saw more favorable rental rates for farmland last year. He says low commodity prices impact how much landowners can charge for rent.
Bernhardt says farmers are likely to see a small increase in production expenses this year, as grain and dairy prices start to improve.
Information from: Wisconsin Public Radio, http://www.wpr.org