Estimating Total Costs and Possible Returns from Precision Farming Practices
S. W. Martin, J. Hanks, A. Harris, G. Wills, and S. Banerjee
October 2005
Research
Few studies have addressed the whole-farm and per-acre expense of precision farming technologies. A 33-acre farm example was used to establish baseline cost estimates of these technologies. Findings suggest that per-acre expense is relatively small if sufficient acres are available and may be smaller than conventional wisdom would suggest. Possible yield increases may more than cover the cost of implementing a whole-farm precision farming system even on minimum-size farms.
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