MEDIA RELEASE
March 20, 2003
Written By Paul Carr, U of M Extension Service
(507-526-6240)
2003 Farm Custom Rate Sheets Available
The "2003 Iowa Farm Custom Rate Survey" was recently released and is now available at local Extension Offices. "The University of Minnesota and Iowa State Farm Custom Rate Surveys are two of the most requested publications we see," says Regional Extension Educator Paul Carr.
The survey includes updated custom rates for 110 field and miscellaneous operations and 15 tractor and implement rental rates. Custom rates generally increased slightly from the 2002 to the 2003 survey. Seventy-one custom rates increased, thirty-one rates decreased, and eight rates stayed the same from 2002 to 2003. Over this same period fourteen rental rates increased while one stayed the same. Two of the most common field operations that farmers may hire done are combining and no-till soybean drilling. Custom corn and soybean combining rates increased 60 – 65 cents per acre from last year. Custom no-till soybean drilling rates decreased about 20 cents per acre.
Rates shown in the survey are only rates commonly paid. Individual situations can vary widely due to many circumstances. Therefore the survey is only a guide. Farmers and anyone else interested in a copy of the survey can obtain one at their local Extension Office or at the following web address: http://www.extension.umn.edu/county/blueearth/