3e00F0m` E"-E65_&$bk)(;vtiFA[PP( Farm custom rates have not changed much in recent years due to relatively stable fuel prices and repair costs, along with more farm operators being available for custom work services. Iowa State University of Science and Technology. Twenty percent of the respondents perform custom work, 16% hire work done, 50% . The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. (800) 262-3804, Iowa State University| The average cost for baling small square bales was $0.59 per bale, $9.35 for large square bales, $10.80 for large round bales without wrapping and $13.20 for large round bales wrapped. Of course, in a good year, profits from a custom farming agreement will likely be lower than under most cash rental leases. The 2021 Iowa Farm Custom Rate Survey contains appropriate charges per acre for additional farm practices performed. In the latest estimate, the USDA Economic Research Service (ERS) is projecting total U.S. net farm income for 2021 at $113 billion, which is at the highest level [], LAKE CRYSTAL, Minn. Arriving at equitable land rental rates is always an ongoing challenge for farm operators and landlords alike and will likely be an even bigger challenge for the 2022 growing season. Therefore, the statewide averages reported here might be quite different from the going rate in any given area. 0000004801 00000 n /Metadata 67 0 R/Outlines 81 0 R/Pages 3852 0 R/StructTreeRoot 82 0 R/Type/Catalog/ViewerPreferences<>>> endobj 3856 0 obj <. Ann M. Johanns, extension program specialist, 515-337-2766, aholste@iastate.edu, Department of Economics 0000004313 00000 n 0000006244 00000 n %PDF-1.4 % The median is the middle number among the ordered responses (from smallest to largest). [CDATA[// > endobj Tillage, planting, harvesting, manure hauling and livestock transportation are all included. CTRL + SPACE for auto-complete. Nowis a great opportunity for producers to review their crop insurance choices for the upcoming season. The "2021 Iowa Farm Custom Rate Survey," conducted by Iowa State University Extension and Outreach, covers the amounts charged and paid for common crop and livestock services. The normal field practices to be included under a custom farming agreement should be listed (including tillage, planting, weed control, harvesting, hauling grain, etc.). 0000002183 00000 n The average custom rates for farm operations in most areas of the Upper Midwest tend to be very close to the average Iowa custom rates. The average cost for baling small square bales was $.59 per bale, $9.35 for large square bales, $10.80 for large round bales without wrapping, and $13.20 for large round bales wrapped.