Investing in farm machinery

Farm machinery represents one of the largest expenses in crop production.

Michael Langemeier, Purdue Extension ag economist says because of its high cost, there is plenty for farmers to consider when making that investment.  Langemeier says farmers who have high machinery costs should carefully evaluate whether further machinery purchases are necessary and affordable.

If a farm has relatively high crop machinery benchmarks it is likely to have above-average crop break-even prices.  When taking on more risk, he says, farmers also should consider farm size and the options of owning, leasing, or hiring custom work.

A link to more information on “Crop Machinery Benchmarks” can be found HERE.

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