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Machinery Management: Estimating Farm Machinery Costs

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  • Edwards, William M.

Abstract

Machinery and equipment are major cost items in farm businesses. Larger machines, new technology, higher prices for parts and new machinery, and higher energy prices have caused machinery and power costs to rise in recent years. However, good managers can control machinery and power costs per acre. Making smart decisions about how to acquire machinery, when to trade, and how much capacity to invest in can reduce machinery costs by as much as $25 per acre. All of these decisions require accurate estimates of the costs of owning and operating farm machinery.

Suggested Citation

  • Edwards, William M., 2001. "Machinery Management: Estimating Farm Machinery Costs," Staff General Research Papers Archive 2038, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genres:2038
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    Cited by:

    1. Colson, Greg, 2008. "Alternative approaches for sharing machinery, labor, and other resources among small- and medium-sized agricultural producers," ISU General Staff Papers 2008010108000016325, Iowa State University, Department of Economics.

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