FAST aids users in performing financial analysis, assessing investment decisions, and evaluating the impacts of various management decisions. Due to the fuel price increase, fuel costs for the 310 horsepower tractor increased from $33.60 per hour in 2017 to $37.30 per hour in 2019 (see Table 1). Lattz, D. and G. Schnitkey. This publication shows estimated costs of performing agricultural field operations. We provide machinery cost estimates which may be useful in setting custom rates. Fewer people respond to this survey every time it is taken every three years. Most of the increases are due to increases in list prices of machines. Further refined estimates for corn-after-corn, corn-after-soybeans, soybeans-after-corn, soybeans-after-soybeans, wheat, and double-crop soybeans are shown in the publication entitled 2022 Illinois Crop Budgets. 365 0 obj <> endobj Use has a large impact on per hour costs. Custom work rates are available for 2019 - Field Crops Cost Management: Harvest Operations - farmdoc daily Annually, Iowa State University surveys those who hire and/or perform custom farm services and compiles a report of results. 2021 Indiana Farm Custom Rates - Center for Commercial Agriculture Machinery Cost Estimates: Forage Field Operations. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated October 11, 2021. New Wisconsin Custom Farm Rate Guide Now Available The articles are written by Extension Specialists. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc., and the labor for the operation. Higher returns in 2021 likely will lead to debt retirement, causing lower debt levels in 2022 with steady interest rates. Higher costs have led to a situation were higher prices and above trend yields are needed for profitability. Drew Kientzy The site also contains a completed example of a farm return. At the 2014-2020 average price of $3.73 per bushel, farmer return would be -$145 per acre, well below any recent return. Using current nutrient values, hay has a fertilizer value of $25.30 per dry ton. Learn more FAST (Farm Analysis Solution Tools) are a suite of Microsoft Excel spreadsheets designed to assist those in agriculture make better decisions via user-friendly computer programs. The Median rate had an equal number of responses higher and lower. PDF Ohio State University Extension Agriculture & Natural Resources Twenty percent of the respondents perform custom work, 14% hire work done, 59% indicated doing both, 6% indicated doing neither, and 1% did not indicate whether they perform or hire custom work. Go to Custom Rates, location icon102 Filley Hall Lincoln, NE 68583. In all cases, estimated costs went up and ranged from 2% to 19%. Substantial increases in list prices of machinery occurred between 2019 and 2021. Labor time is assumed to be 1.1 times the tractor hour resulting in a 10% higher cost per tractor hour. Machinery cost estimates for agricultural uses have been updated for 2019. PDF 2020 Nebraska Farm Custom Rates - University of Nebraska-Lincoln
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