Lattz, D. and G. Schnitkey. Reference to commercial products or trade names does not imply endorsement by MSU Extension or bias against those not mentioned. Fuel costs are based on $2.50 per gallon for diesel fuel. 391 0 obj <>/Filter/FlateDecode/ID[<4E5C4DF6CD3D4045A6C9AA3FA884A65A>]/Index[365 42]/Info 364 0 R/Length 121/Prev 1011486/Root 366 0 R/Size 407/Type/XRef/W[1 3 1]>>stream The list price increase will also increase costs but is countered by a decline in interest rates from 5.5% in 2019 to 4.5% in 2021. We asked farmers, agribusiness firms and land improvement contractors to provide the rates they were charging or paying in 2022 for custom services, excluding the cost of materials being applied. Assuming a 1200lb round bale is 15% moisture, the nutrient value per bale is $12.91. Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Briomass Crop Budget Tool Miscanthus & Switchgrass, Illinois Soil Productivity & Yield Utilities, Farmland LEasing Facts Sheets & Pricing Information, Machinery Cost Estimates: Field Operations, Machinery Cost Estimates: Forage Field Operations, 2022 Planting Decisions, Nitrogen Fertilizer Prices, and Corn and Soybean Prices, Department of Agricultural and Consumer Economics. Machinery Cost Estimates: Field Operations. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated October 11, 2021. Fortunately, ag economists at the University of Illinois keep up on all those numbers, and have an entire listing of costs for various field operations located on their Farmdoc website. This was a direct response to the removal of the example return from Pub 225 by the IRS. Pesticide and seed in 2022 are projected to increase by 8 percent over 2021 levels. The purchase price is assumed to equal 85% of the list price of the tractor. This increase in the costs of inputs into custom activities suggest that custom rates should have increased over the past several years. Machinery costs estimates are available in the management section of farmdoc in five publications: Costs are estimated in both 2017 and 2019 using an estimation approach that relies on formulas developed by the American Society of Agricultural Engineers (ASAE). But it is still a very popular Extension guide. Still, overhead costs increased from $122.90 per acre to $126.10 per acre. Robert Battel, Michigan State University Extension - An additional amount for profit should be added to our cost estimates, as we have not added an amount for returns. Urbana, Cost of Baling Hay | Illinois Extension | UIUC of N, 20 lbs. Report ID: Summary of costs for Field Operations, Havest Operations, Tractor and Forage Operations. Machinery cost estimates for 2019 have been released. Custom work rates are available for 2019 - Field Crops Fuel use on a 310 horsepower tractor is estimated at 13.6 gallons per hour. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Fuel use on a 310 horsepower tractor is estimated at 13.6 gallons per hour. Factors impacting costs are illustrated for a 310 PTO horsepower tractor with front wheel assist (per hour tractor costs are shown in the publication Machinery Costs Estimates: Tractor (https://farmdoc.illinois.edu/handbook/machinery-cost-estimates-summary). This publication shows estimated costs for combining, using grain carts, and hauling grain. From 2019 to 2021, most of the estimated machinery costs went up. JavaScript seems to be disabled in your browser. Part II of the custom rates survey included questions about fall operations such as harvesting, hauling grain and livestock, as well as miscellaneous custom work activities on the farm. Fertilizer prices for Illinois published by USDA (May 12 report) are: N $0.40, P $0.34, K $0.29. As a result, a bale of hay sitting in the field costs $33.11. Informa Markets, a trading division of Informa PLC.
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