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Abstract

The North Central Farm Machinery Task Force is a group of extension economists who evaluated alternative methods for estimating farm machinery costs and made recommendations for the development of extension materials. This paper describes the procedures agreed upon, and explains the rationale for the procedures chosen. The focus is on "typical" machinery costs for use in extension budgets and other analyses and examples. This paper also provides detailed documentation of the methods used in recent versions of the widely used Minnesota Farm Machinery Economic Cost Estimates publication (referred to below as "the Minnesota fact sheet"), focusing mainly on the 2000 version.

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