2014 Custom Machine Work Rate summary update available
Cost of farm machine work rates adjusted to cover current costs update is available in the 2014 Farm Machine Work Rate summary.
Exchanging farm machine work between farms has and will continue be a useful management tool. The “2014 Farm Machine Work Rate” updated summary report been posted on the Michigan State University Extension Farm Information Research Management (FIRM) web page. This type of information can be useful for farms that exchange equipment to find a starting point for establishing a reasonable value for the machine work being provided. A farm’s actual machine cost of operation would require you to develop a more detailed analysis of your equipment and situation. A simple worksheet for this task is also part of this year’s report and farms are encouraged to do their own cost calculations.
Information contained in this report is based on several custom work survey reports that have been compiled into this summary.
For farms looking back to 2012 and 2013, you can still find copies of the Farm Machine Work Rate for 2012 and 2013.
Many farms use this type of information in developing their farm business plan and enterprise cost estimates for 2014. When farm crops or tillage programs change, the cost of operations can also change the economics of the total farming system. Therefore, having a reference number may be helpful in doing a paper evaluation before implementation is undertaken.