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SUGGESTED PROCEDURES FOR ESTIMATING FARM MACHINERY COSTS

William Lazarus and Roger A. Selley

No 14072, Staff Papers from University of Minnesota, Department of Applied Economics

Abstract: The North Central Farm Machinery Task Force is a group of extension economists who evaluated alternative methods for estimating farm machinery costs and made recommendations for the development of extension materials. This paper describes the procedures agreed upon, and explains the rationale for the procedures chosen. The focus is on "typical" machinery costs for use in extension budgets and other analyses and examples. This paper also provides detailed documentation of the methods used in recent versions of the widely used Minnesota Farm Machinery Economic Cost Estimates publication (referred to below as "the Minnesota fact sheet"), focusing mainly on the 2000 version.

Keywords: Agricultural Finance; Farm Management (search for similar items in EconPapers)
Pages: 33
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:14072

DOI: 10.22004/ag.econ.14072

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