News

Larger farms continue to have more expensive equipment

The Illinois Farm Business Farm Management Association says the total value of machinery continues to increase with farm acreage.

CEO Dwight Raab tells Brownfield each year the group surveys Illinois farmers to benchmark machinery costs and its value to farmers.  “It gives those operating in production agriculture an idea of how maybe to benchmark where their operation might be in terms of machinery value and machinery value per acre.”

The report, Machinery Capitol Invested on the Farm, say a 2,500 acre farm has a machinery value of almost $1.5 million while a 1,000 acre farm’s machinery value is closer to $1 million.

AUDIO: Interview with Dwight Raab