Nate Bruce, Farm Business Management Specialist, nsbruce@udel.edu
This past fall, University of Delaware Cooperative Extension partnered with the University of Maryland Extension to survey producers in the area for a custom rate survey. There are many ways a custom rate survey can be utilized. Government agencies and lenders use custom rates for analysis, budgeting, and advising clients. Producers can use custom rates to serve as a basis for developing production budgets and farm financial planning. Custom operators use custom rates to evaluate their charges compared to competitors.
Thank you to everyone that responded to the survey this past fall. The results of the 2023 Maryland and Delaware Custom Rate Survey can be found here:
https://extension.umd.edu/sites/extension.umd.edu/files/2023-02/FS-683_CustoWorkChanges_2023.pdf