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Learn more via the APPLIED RISK ANALYTICS series, covering the application of RightRisk Analytics, available for download at: RightRisk.org/appliedriskanalytics.
MILES SMITH IS STARTING his third year farming in Wyoming’s Big Horn Basin, working a farm he purchased under contract from his uncle. Like many new and beginning producers, he has limited resources when it comes to purchasing machinery. Among the custom services he utilizes is spraying. The main disadvantage of this strategy is the challenge of making timely applications of certain herbicides. As he plans for the upcoming year, Miles notices a definite effect on yields, especially in his barley and sugar beet crops. He views purchasing his own sprayer (leasing is not an option at this time) as the solution to his problem, however, he is unsure whether the costs will outweigh the benefits of ownership. Additionally, he believes there are further advantages to owning a sprayer, such as the potential to reduce tillage, which should also be taken into account.
