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Machinery costs up

The University of Illinois has released its latest report on machinery operating costs. The figures show that estimated costs for most machinery operations are much higher in 2005 than they were in 2003, when costs were last updated. Operation costs since then have risen as much as 21% because of higher fuel prices and higher prices on new machinery. Harvesting corn and soybeans had some of the largest increases, largely due to higher costs of new combines. The cost of combining corn, for example, is now estimated to be $31.10/acre.

The reports can be viewed online at: www.farmdoc.uiuc.edu/manage/machinebuilding_index.html and www.farmdoc.uiuc.edu/manage/newsletters/fefo05_08/fefo05_08.html.

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