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Machinery cost estimates updated

By John Fulton

[OCT. 5, 2006]  Area farmers traditionally use the University of Illinois machinery cost estimates to determine custom farming rates. Since the University of Illinois rates are based on cost of operation (how much it actually costs to operate a piece of equipment), these rates are valuable in properly pricing machinery rental or custom rates. Many other states use a survey of custom operators to determine rates.

The two main components of the rates that required updating were the fuel price and the interest rate. Fuel costs for diesel fuel have increased greatly the last two seasons. The new rate is set at $2.50 per gallon for diesel. The interest rate has also increased somewhat and is now set at 7.5 percent.

The summary of field operations is the only set of rates recalculated, so don't expect the detailed breakdown and all rates updated. Highlights of the new rates of particular interest in the fall season include the following: combining corn is $34.50 per acre; combining soybeans is $29.20; chisel plow is $13.40; mulch tilling (disk-chisel combination) is $17; and mowing is $15.

A page including all the updated rates is available on the bulletin rack at the Extension office or on the Internet at

[John Fulton, unit leader, University of Illinois Extension, Logan County Unit]



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