By Blake Jackson
Cornell Cooperative Extension (CCE) is launching a crucial survey to empower New York farmers with valuable data. The 2024 Cash Rents and Custom Harvest Survey, funded by New York Farm Viability, aims to bridge the information gap and address the unique challenges faced by the agricultural industry in the state.
This initiative will gather data on average rental rates for land and facilities, alongside typical fees for custom services like equipment use and hay harvesting. Importantly, all information will be anonymized and used to generate regional averages across New York.
This will equip farm owners with a much-needed understanding of market trends, allowing them to negotiate more effectively and make informed decisions that contribute to long-term farm sustainability.
"Many farms are currently struggling financially," explains Katelyn Walley, Farm Business Management Specialist and Project Leader with CCE's Southwest New York Dairy, Livestock, and Field Crops Program. "This survey's data will be a game-changer, providing a crucial starting point for farm owners to explore options for cost savings, improved efficiency, or even adjustments to their production strategies."
Previously, both landowners and farmers often relied on educated guesses or data from other states when determining fair prices for land rentals and custom services. Nicole Tommell, Project Co-Leader and Farm Business Management Specialist with CCE's Central New York Dairy, Livestock, and Field Crops Program, highlights the significance of the survey: "This project will finally provide a more specific and helpful answer to the question of fair pricing."
By participating in this survey, New York farmers will gain valuable insights that empower them to make informed choices and navigate the ever-changing agricultural landscape. This initiative could significantly strengthen the bargaining power of New York farms and contribute to their success. This is survey, and accompanying resources, is available by visiting https://farmbusiness.cornell.edu/cashrates/.
Photo Credit: gettyimages-fotokostic
Categories: New York, Harvesting