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MSU Custom Rate Calculator Worksheet

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October 30, 2024 - MSU Extension Farm Management

The MSU Custom Rate Calculator Worksheet can guide the calculation of the total economic cost of owning and operating the machinery for custom hire services. Ownership costs for both the tractor and equipment include depreciation, interest, repairs, taxes, and insurance. Operating costs include fuel and labor.

The total result can be adjusted for local economic conditions, such as the availability of machinery services and demand for machinery services in your local area or usual rates set in the community. Other factors can include field size and shape; ease of access; amount of non-farm traffic to get to the field; machine size and road or bridge widths; trash in the field; weed history; trees or brush hindering work; depth and amount of field drainage tile; and payment arrangements.

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  • agriculture,
  • animal agriculture,
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  • farm business cost of production,
  • farm business recordkeeping,
  • farm financial analysis,
  • farm financial management,
  • farm management,
  • msu extension

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