I used to have a Farmall-A. It would pull my 16' flatbed with hay bales and a load of Cub Scouts very easily. Some notes from our parade days:
- Make sure everyone is seated. If we had anyone that could not remian seated, they came off the float, and walked with the Cubmaster.
- Watch the clutch. Tractor clutches are not as smooth as car clutches. It may only go 2mph, but it will rock you off your hay bale if you do not slip it correctly; see 1st note about always seated on the float
-USE 4WD if you have it. Remember, you only have rear brakes. When you lock in 4WD, your braking includes the entire driveline, ie the front tires too. In my case, I had a 1600lb trailer, four bales of hay(400lbs), and 10-12 kids(guess around 800-1000lbs). That's 3000lbs pushing your compact tractor. Take advantage of all the braking you can get.
- use the drawbar, not the 3pt.
- go slow. In the parades sometimes I would get behind; the parade folks would try to hurry me. Not with 10-12 kids on the float... Parades seem to spread out, then bunch up, then spread out...
-use your break-away switch/brakes on the trailer. Run a rope down to the cable, so you can pull it in an emergency. Make sure the battery is charged though...
-We always had a couple adults, at least on on each side of the trailer, walking and watching the kids. One was always near me, so I could hear them clearly if I had to stop. They dressed in uniform or costume, so it was not obvious to the crowds watching the parade.
-Announce what you are doing. Let them know when you are starting to go so they are sitting and expect the movement.
-Let everyone know the rules BEFORE they get on the float/hay-ride.
Have fun! It is easily doable. Decorate it up. Let the kids decorate the float/hay-wagon. We won best float two of the four years we did the Christmas parade here.
Just make sure to go slow, look ahead, and anticipate what is ahead.