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Custom Rates

2014 Farm Custom Rates

Due to the high cost of investment in farm machinery, an ever-increasing number of farm operators are hiring other farm operators to provide some or all of their machinery resources for their farm operation. this is especially true with new and younger farm operators, and with children that decide to start farming with their parents. Also, some land investors are choosing to operate the farm themselves rather than cash renting the land another farm operator. In that case, the landowner is generally hiring a farm operator to provide necessary tillage, planting and harvesting crop operations under a custom farming agreement. Some farm operators also hire specific farm operations through a custom arrangement with another farm operator, such as combining or hay baling. Many farm operators negotiate these types of custom rate and custom farming arrangements in the Spring of the year.  [ read more ... ]

 

Update On Farm Custom Rates

An increased number of farm operators are now providing some type of custom work to other farmers during the growing season. Many times, the farmers involved in custom work arrangements wonder what a fair custom rate is for the various faming practices that were performed. Iowa State University releases the annual “Iowa Farm Custom Rate Survey” each year in February, which is based on a survey of custom operators, farm managers, and ag lenders on what they expect custom farm rates to be for various farm operations to be for the coming year. This is probably the most widely used and updated custom rate information that is available in the Upper Midwest. [ read more ... ]

 

2013 Custom Farming Agreements

An alternative to leasing farmland is a “Custom Farming Agreement”. In a typical Custom Farming Agreement, the custom operator agrees to perform all the machine operations on the owner’s land in exchange for a set fee or rate. The landowner pays for all seed, fertilizer, chemicals, crop insurance, and other input costs; receives the all grain produced and all eligible farm program payments on the land; and is responsible to store and market the grain. [ read more ... ]

 

2013 Farm Custom Rates

As would be expected with increasing fuel costs, average 2013 custom rates for farm work have a1so risen, compared to 2012 custom rates. Most custom rates for farm work in 2013 are listed at 3-5 percent above the rates for similar operations in 2012, with an average increase of about 4 percent. In addition to higher fuel costs, increasing cost for new and used machinery, and rising repair costs, are also factors in the higher custom rates. [ read more ... ]

 

2012 Custom Rate Charges

An increased number of farm operators are now providing some type of custom work to other farmers during the growing season. Many times, the farmers involved in custom work arrangements wonder what a fair custom rate is for the various faming practices that were performed. Iowa State University releases the annual “Iowa Farm Custom Rate Survey” each year in February, which is based on a survey of custom operators, farm managers, and ag lenders on what they expect custom farm rates to be for various farm operations to be for the coming year. This is probably the most widely used and updated custom rate information that is available in the Upper Midwest. [ read more ... ]