Several times each year, Farm Journal Media surveys farmers across the U.S. to consistently stay on top of the trends and topics that matter most in the agriculture industry. Earlier this spring, more than 700 farmers shared their thoughts on several topics, including seed brands, estimated acres and breakeven costs.
The survey respondents also listed how they plan to reduce or economize input costs for 2015. Many ideas were shared; these nine were the most common.
- Reduce farm equipment purchases (67.9%)
- Delay non-equipment capital purchases 44.1%)
- Employ no- or low-till practices (41.3%)
- Buy less fertilizer (30.9%)
- Purchase less trait seed to reduce seed costs (25.3%)
- Increase variable rate application of fertilizer and crop protection inputs (22.4%)
- Negotiate lower land rents with landlords (21.4%)
- Reduce energy consumption (through better equipment maintenance and/or power generation (21.4%)
- Purchase fewer pesticides, fungicides and insecticides (20.7%)
Other ideas farmers listed include reducing the use of agronomists and other outside consultants, restructuring loans to improve cash flow, purchasing more trait seed to reduce herbicide or insecticide costs, purchasing less crop insurance, and firing or not rehiring personnel.
Are you cutting back anywhere this year? Share your thoughts on the AgWeb discussion boards.