It is best to use a farms actual repair records to estimate these costs. Consider outsourcing certain field tillage passes. Depending on your situation, you may want to consider the following spraying and ammonia application total costs from 2019: Liquid fertilizer applicator at $23.50 per acre. FAST Tools. Lattz, D. and G. Schnitkey. Here, a look at cost estimates of field, forage and harvesting operations, plus per-hour tractor operating costs. Many of them are involved in the Extension Income Tax Advisory Committee. For a detailed statement, please see the University of Illinois Copyright Information and Policies here. Results are included for all regions in Illinois. An active member of organizations such as 4-H, FFA and the National Junior Angus Association, she was able to show Angus cattle on the local, state and national levels while participating in contests and leadership opportunities that were presented through these programs. Machinery Cost Estimates for 2021 - farmdoc daily Central Illinois is further divided, Shows historical cost for the last 5 years and projections for next year. The 2021 estimates appear in the 2021 tractor costs publications, while the 2017 and 2019 costs appear in the machinery costs 2017 and 2019 editions. According to Lattz and Schnitkey (2017b), a self-propelled sprayer can cover 80.6 acres per hour. If acres are not maximized, options include 1) outsource the operation or 2) reduce the size of the equipment. The reference price escalator was introduced in the 2018 Farm Bill and uses effective reference prices to calculate Price Loss Coverage (PLC) payments. "Release of 2021 Crop Budgets." Data collected through the Precision Conservation Management from 2015 to 2019 indicates that light to moderate tillage is associated with higher returns than heavier tillage (farmdoc daily webinar, June 22, 2020). For most farms, the best cost management practice would be to own tillage implements that provide the greatest economic value for the farm, including which operations are expected to be used most frequently on the greatest number of acres. For example, during a November 29 farmdoc webinar, price forecasts were for a $4.25 corn price and an $11.00 soybean price.