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TSCRA Daily News Update, August 8, 2008
USDA estimates put farm production expenditures at record levels in 2007 On Wednesday, Aug. 7, the U.S. Department of Agriculture (USDA) released statistics showing 2007 farm production expenditures at a record $260 billion. Total U.S.farm production expenditures rose 9.3 percent from 2006 and nearly 30 percent from 5 years ago. Increasing petroleum costs drove the increase, with farmers paying 15 percent more for fuel as compared to 2006. Expenditures on fertilizer, lime, and soil jumped 26 percent, while feed costs rose by 22 percent.
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