It’s probably no surprise that the cost of operating machinery has gone up. But there’s a good benchmark to compare your costs with the average available from the University of Illinois.
According to the report, “Overall, costs have increased by about 15 percent between 2010 and 2012. In our estimates, combine costs have declined between 2010 and 2012 because acres covered with the combine are assumed to increase in 2012.”
Factors that have influenced the change include:
- Machinery prices have increased.
- Interest rates have declined.
- Fuel prices have increased.
- Labor prices have increased.
Rising machinery costs is but one reason why keeping machinery well maintained is important. Another is the potential reduction in emergency breakdowns during critical planting and harvest.
And the report points out that combine costs have actually gone down, in part, due to the study showing that a single combine will be run over more acres. That is, if it stays running and isn’t prone to service-related breakdowns.
What’s your summer service schedule?