The annual Iowa Farm Custom Rate Survey, released this week by Iowa State University Extension, shows custom machine work is on the rise in the state, and so are custom costs.
Of the nearly 100 Iowa farmers surveyed, 20% perform custom work, 14% hire work done, 59% do both, and just 6% do neither.
The report is intended to give farmers and agribusinesses a starting point for discussions and negotiations, not to set rates for specific practices or operators. It reflects the 2,621 rates farmers, custom operators, and farm managers say they expect to pay or charge this year.
Estimates for tillage, planting and seeding, spraying, harvesting, farm labor, and other custom services are included, along with new categories ground spraying with a self-propelled tall-crop sprayer and liquid fertilizer high-clearance application with a drop hose and Y spray nozzle.
Overall, custom rates are up 10% to 15% over last year. Harvesting and hauling rates have increased 20.2%, pre-harvest operations 15.1%, harvesting forages 14.3%, bin and machinery rental 13.7%, and labor 9.8%.
The average charge per acre including tillage, planting, pest control, harvesting, and hauling to farm (no drying) is $152 per acre for corn and $139.65 for soybeans, up 10.6% from 2022.
Individual rate averages for 2023 include:
These averages were figured assuming an average price for diesel fuel of $3.39 per gallon, and may fluctuate depending on fuel and other input prices.
According to the report, machine rental not including operator, tractor, and fuel ranges from $0.11/bushel for a grain auger to $73.50/hour for a skid loader. It includes a worksheet for estimating machinery rental rates for items not on the survey.
Click here to read the full report.
© 2023 Meredith Corporation. All Rights Reserved.
All https://www.barchart.com/solutions/ is provided by Barchart Solutions.
Futures: at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see https://www.barchart.com/solutions/terms.