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Have Farm Custom Rates Kept Price with Machinery Costs?

Author

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  • Edwards, William M.

Abstract

Average custom rates for eight common farming operations as reported in surveys done in Iowa and Kansas in 1995 were inflated to 2015 values (Iowa) and 2013 values (Kansas) using the Prices Paid indices gathered by the National Agricultural Statistics Service (NASS). The projected rates were generally higher than the average rates reported in surveys completed in the corresponding years, except for planting. Possible explanations for the lag in custom rates include uncertainty about fuel prices, improved fuel efficiency, improved field efficiency, adoption of larger equipment where economies of size exist, and extension of field hours per season.

Suggested Citation

  • Edwards, William M., 2016. "Have Farm Custom Rates Kept Price with Machinery Costs?," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2015, pages 1-19.
    • Handle: RePEc:ags:jasfmr:236652
    DOI: 10.22004/ag.econ.236652
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    Keywords

    Agricultural and Food Policy;

    Statistics

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