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Why do farmers spend more money on farming equipment than on rent?

Getting started

There’s been some speculation that the trend toward cheaper and better equipment has been driven by a lack of demand for it by farmers, and it’s possible that this trend may be just a temporary trend.

But we’re not talking about the decline of the old-school farmhouse; we’re talking about a trend that’s been happening for a long time and it could continue.

A report published in June from the USDA’s Agriculture Research Service suggests that there’s been a real jump in the number of farmers using the new, cheaper, and more energy-efficient equipment. 

In fact, more than 60% of all farmers who responded to the survey said they’ve been increasing the number and types of farm equipment purchases, including new tractors, fertilizers, and chemicals.

There’s also been a jump in spending on new equipment for both farmers and ranchers, according to the report. 

The trend is likely driven by higher demand for farm equipment, as well as an increased focus on energy efficiency in agriculture.

According to the USDA, energy efficiency improvements are expected to account for the majority of the cost of a farm in 2023. 

And if there’s a trend toward more efficient equipment, that’s good news for those of us that love the farmhouse. 

We’re just glad to see it happen.

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