Data from the University of Illinois shows farm machinery costs have risen substantially since 2019.
Farm management professor Gary Schnitkey says every two years the Department of Ag and Consumer Economics collects list prices from equipment manufacturers and dealerships.
“We’re seeing all the costs go up, 5 percent catches a lot of them. And some of them are higher, even up to 20 percent.”
He tells Brownfield they typically see a two to three percent increase.