By Blake Jackson
Wisconsin farmers are facing a challenging economic climate with low crop prices and high input costs. While some optimism remains for 2025, the potential for lower input and interest rates is tempered by projected farm prices that may fall below break-even levels.
This uncertainty makes significant investments, such as new farm machinery, a difficult decision.
Machinery purchases represent a substantial expense for farmers. Careful consideration is crucial, weighing factors such as increased production needs, aging equipment, and labor availability. While new equipment offers the latest technology, the high costs and interest rates make used machinery a more financially viable option for many farmers.
When considering used equipment, it's essential to evaluate its suitability for specific farm needs. Factors like field capacity, horsepower, and compatibility with existing technology should be carefully assessed.
Cost analysis is essential. Compare the total cost of ownership, including maintenance, repairs, and fuel, with the cost of hiring custom operators or leasing equipment.
Safety should be a top priority. Ensure the used equipment includes essential safety features like ROPS and shields. Thoroughly inspect the machine for wear and tear and consult with a mechanic to identify potential issues.
When purchasing used equipment, exercise caution when dealing with online platforms and auctions. Conduct thorough research, consider a mechanic's inspection, and investigate transportation costs carefully.
Leveraging local expertise is invaluable. Consult with other farmers, mechanics, and local equipment dealers for insights into the local market and the condition of specific machines.
By carefully evaluating their needs, considering the costs and benefits, and prioritizing safety, farmers can make informed decisions about purchasing used equipment and navigate the current economic challenges.
Photo Credit: gettyimages-kali9
Categories: Wisconsin, Equipment & Machinery