2024 indiana farm custom rates. Has the rate changed over time? Yes.

2024 indiana farm custom rates Harvest soybean price is November 2024 CME Group futures price less $0. Purdue Educators distributed southern Indiana. Michigan State University Extension offers a custom work rates report that offers Michigan-based costs for a variety of common farm operations. Lenders, educators, and government agencies use custom rates for budgeting, advising, and analysis. 95 per acre, an increase of $3. Harvest wheat price is July 2024 CME Group futures price less $. In addition to the MSU numbers, Ohio State University has updated their bi-annual survey for farm custom rates for 2022, the University of Illinois has a machinery cost estimates for 2021 and Purdue has a 2021 Indiana farm custom rates available. However, changes in rates across Indiana’s 6 regions were not uniform with rental rates in some regions and for some land quality types actually declining. View our latest email. The data is based on 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators and farm managers. Compare your costs for baling small squares vs. If your machinery cost per acre is relatively high, then a farm should consider using a Oct 30, 2024 · The MSU Custom Rate Calculator Worksheet can guide the calculation of the total economic cost of owning and operating the machinery for custom hire services. 81 per bale. Sep 1, 2017 · Michael Langemeier - Numerous farms that are either hiring a custom operator or providing custom rate services to other farms use published custom rate surveys. Feb 1, 2024 · Good yields, strong 2023 farm incomes, a shortage of farmland for sale and moderating interest rates have farm real estate experts optimistic about keeping land values at current high levels Mar 14, 2025 · Indiana Farm Custom Rates; Farm Bill Resources; Managing Farm Risk; Before November, the 2024-2025 crop basis levels were well below the three-year average. inflation rate, (9) cash liquidity of buyers, and Feb 12, 2024 · How interest rates could impact farmland values in 2024 How interest rates could impact farmland values in 2024. Has the rate changed over time? Yes. The 2024 report, which can be viewed online , was published in the March edition of Ag Decision Maker and includes 130 responses and 2,805 custom rates provided by Iowa The growth rate of Indiana farmland prices is expected to moderate in 2024. The ohio farm custom rates 2022 survey — based off a statewide survey of 223 farmers, custom operators, farm managers and landowners in early 2022 — also shows increases over the previous. edu 1101 E CR 800 N Chrisney, IN 47611 812-362-8066 spencerces@purdue. §Respondents: rural appraisers, ag lenders, farm managers, and farmers §Information collected: •Estimated Land values as of December 2022, June 2023 & December 2023 (projection) •Top, average, and poor quality land •Annual cash rental rate •Long-term corn yield (productivity) 17 2017 Indiana Farm Custom Rates. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. agricultural export sales, (8) U. Download the free 2025 Farm Resource Guide. While the farmland market has been robust in recent years, there are signs that price growth may ease in 2024. These are the March 2022 crop budget estimations for 2022; prepared by Purdue faculty members Michael Langemeier and Craig Dobbins, Department of Agricultural Economics; Bob Nielsen, Tony Vyn and Shaun Casteel, Department of Agronomy; and Bill Johnson 2025 Custom Work Rates Summary. The Education Store provides Dec 10, 2024 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 25 basis. To see the full report for all operations, complete with all qualifying comments, visit 2021 Jan 26, 2024 · Therefore, the statewide averages reported might be quite different from the going rate in any given area. Apr 22, 2021 · One of the best resources for average custom rates is the annual Iowa farm custom rate survey that is coordinated and analyzed by Iowa State University. 2025 Iowa Farm Custom Rate Survey. A common method is to charge a rental rate similar to what others are charging. This guide includes useful forms and farm business management information including: Custom rates: What to charge for planting, etc. To see the full report for all operations, complete with all qualifying comments, visit 2021 Indiana Farm Custom Rates. Others rent machinery or perform other services. Farmers use custom rates as a guide for machinery, budgeting, and financial planning. Sep 24, 2024 · Statewide farmland prices once again set a new record in 2024, according to the recent “Purdue Farmland Value and Cash Rent Survey. Skip to Main Content fa-facebook-f May 19, 2023 · Purdue updates haying and baling custom rates. Rates vary due to fuel and mobilization costs, but also based on the quality of equipment and labour, efficiency, and other factors to consider when hiring an agri-contractor. The latest survey was completed in 2024 and is displayed In addition to working on Extension and research projects, Michael taught courses in economic theory and farm management and worked closely with the Kansas Farm Management Association. 00 $14. edu Nov 21, 2024 · LINCOLN, Neb. Publication Date: April 17th, 2024. IF YOUR HAYMAKING days go back to the 1960s or 1970s, you likely got paid anywhere from $1 per hour to $5 per hour to get hot, dirty and sweaty. 2023 Indiana Farm Custom Rates By Michael Langemeier The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. 8% from June 2023. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany Custom fieldwork rates for 2024. Mar 4, 2025 · Resources Recent Additions Subscribe Commercial AgNews Receive our monthly newsletter with farm management program and resource updates. The USDA reports that machinery values and labor costs have increased by about 23 percent and 18 percent, respectively, since our last custom rate survey in 2019. Cash rental rates are expected to hold . Langemeier says the rates should only be used as a guide. Farm Income and Production Cost Summary: This report summarizes farm income and earnings for FBFM enrolled farms for 2012-2016. of Reports Range Average Mar 29, 2022 · What follows are the median (adjusted average) custom rates for some common farming practices for 2022, based on the Iowa Farm Custom Rate Survey. Postal Service and 407 people via email in mid-February 2024. Indiana Farmland Values & Cash Rental Rates: 2024 Update Oct 25, 2024 · Now, you’ve taken a look at West Central Indiana and estimated returns for a typical crop farm in West Central Indiana that plants 50 percent corn, 50 percent soybeans every year and looked at returns from a crop share lease, a 50/50 crop share, a fixed cash lease based on the survey results for cash rental rates in West Central Indiana. Aug 26, 2024 · The 2024 Purdue Farmland Value Survey found the average value of bare Indiana cropland increased. 0 28. It . As in past years, there are states that have updated their rate guides since a year ago. Dec 27, 2023 · Tips for shopping or setting rates. 70 per bale, with large round bales coming in at $13. Gain an in-depth understanding of trends, market dynamics, and Custom Machinery Rates Applicable to Kentucky (2022) Author: Greg Halich, Associate Extension Professor. Aug 15, 2020 · Tom J. Certification of Agricultural Land Base Rate for Assessment Year 2023 - December 30, 2022 . Read more here North Dakota State University is distinctive as a student-focused, land-grant, research university. About the Author. Tom J. 2 40. Conclusions When crop producers are determining whether it is feasible to purchase a self-propelled sprayer, it is imperative to compare machine ownership costs to custom hire charges. information about common rental rates for farm buildings is not easily obtainable. PAER-2024-09. All Custom rates surveys provide producers with additional information to help with their farm management decisions. Jun 27, 2022 · 2022 Custom Rates & Fees The following custom rates should be used only as a guide in establishing custom rates. The Education Store provides . Bechman 2023-05-19 06:31:08. 1 18. table Sep 12, 2017 · Alternatively, if 3000 acres were sprayed on the farm, the farm would need to at least custom spray an additional 60 acres to breakeven on machine ownership. weaker than the historical 3-year average corn basis for the region, as expected, the difference between 2023-2024 basis levels and typical basis levels for the most recent three years (2020-2021, 2021-2022, and 2022-2023) has continued to narrow. 2023 Land Rental & Custom Rates for ColoradoFarms & Ranches . The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. More operations are highlighted in other articles. 80/gallon as of June 2022 Hay Harvesting -Fuel Included Mow Hay Silage Chopping / Hour: $18/ acre The average flat rate in 2024 for harvesting wheat was $31. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany Custom rates cover the cost of machinery, fuel, labor and, occasionally, a product such as lime or bale wrap. Compare your actual costs to custom rates. Land Values: If farm income increases faster than interest rates, farmland values likely will hold steady or increase — but if income declines as interest rates rise, it’ll pressure farmland values lower. Updated April 26, 2019; Farm and Family Living Income and Expenses: Summary of annual capital and noncapital family living expenditures and income and social security tax payments. , and labor for the May 8, 2017 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. There is no assurance that the average rates reported in . The 2025 MSU Custom Work Rates Report covers a wide number of basic field machine Mar 27, 2024 · AMES, Iowa – Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. Let’s get to some Indiana specific numbers. 28 Estimating a fair rental value for farm grain storage can be based on: current market rates, commercial rates, or; ownership costs. April 16, Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. The Purdue Extension Education Store, part of Purdue University's College of Agriculture, is a vital component of that connection by offering over 2,000 free or affordable PDFs, books, and other resources. Custom Rates for Wheat Harvest, 2024, by District District Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Base Rate ($/Acre) Extra Charge for High Yield Dollar Per Acre No. More operations will be highlighted in future articles. Mar 24, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. In 2017, the average rate for no-tilling corn was $17. NDSU Agriculture educates students with interests in agriculture, food systems and natural resources; fosters communities through partnerships that educate the public; provides creative, cost-effective solutions to current problems; and pursues fundamental and applied research to help shape a Custom Rates; Farm Budgets; Tools; News; WASDE; KFMA; Programs; October 25, 2024: Custom Rates Survey. Current Market Rates. House Agriculture Committee yesterday. These prices will change. The MSU Custom Work Rates Report offers a base to determine a fair exchange value for both the provider and recipient of custom work. 60 foot db60 15 inch. Harvest prices were based on opening prices on December 5, 2023. This year’s survey, published in March, includes 94 responses and 2,621 custom rates for tasks related to tillage, planting and seeding, spraying, harvesting, farm labor and more. Didn’t think it was enough for the 20 mile road travel and 1 day only but was helping a friend finish up in canola. gov Apr 24, 2023 · As we move into another crop year, it is prudent to review custom rates and their components. 54 per acre, with the most common rate reported being $16. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. COLUMBUS, Ohio — Farming is a complex business and many Ohio farmers utilize outside assistance for specific farm Aug 9, 2024 · The survey is produced through the cooperation of numerous professionals knowledgeable of Indiana’s farmland market. Average- and poor-quality farm ground also hit new highs: the average price for average-quality ground is $11,630 per average Indiana land sale and rent rates. Jun 8, 2019 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. The North Central Farm Management Extension Committee sincerely January 2024 DUBOIS COUNTY AGRI-NEWS Pork Quality Assurance Plus (PQA+) Training Purdue University “2023 Indiana Farm Custom Rates”: https://ag. Images References : Source: vividmaps. “Generally, 2024 custom rates are down slightly from 2023,” she notes. services. Typically, southern and western Minnesota farm operators use average yields between 180 to 200 bushels per acre for corn and 50 to 60 bushels per acre for soybeans for cash flow From Main Street to the farm gate, the Purdue Extension Education Store connects all 92 Indiana counties to world-renowned research from Purdue University. Jan 25, 2024 · Contact: Colleen Settle 317-692-7822 317-242-8907 csettle@infb. Publication Number: AEC 2022-01. org (Indianapolis) – Jan. Field Operations 2023 Department of Agricultural and Consumer Economics Jan 3, 2025 · In addition to upward pressure on costs for repairs, fuel and oil, insurance, and custom rates; capital purchases were relatively strong during this time period. — Many farmers and ranchers inquire about prevailing rates for various custom farm services. A range of rates is reported across the state from $10 to $48 per acre. steady or increase in 2023. 97 from $27. ” According to the survey, which is conducted annually in June, the average price of top-quality farmland is $14,392, up 4. Apr 11, 2024 · Although current basis levels in central Indiana are still about $0. Life After CRP - Decisions, Decisions | Conservation Reserve Program: Issues and Options 2024 Iowa Land Value Aug 7, 2023 · The 2023 survey results confirm that, statewide, average cash rental rates for Indiana farmland rose about 2% above 2022’s rates. com The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Jul 26, 2024 · farmland market: (1) current net farm income, (2) expected growth rate in farm returns, (3) crop price level and outlook, (4) livestock price level and outlook, (5) current and expected interest rates, (6) returns to alternative investments, (7) outlook for U. 25, 2024 – Indiana Farm Bureau Health Plans, a suite of more affordable health care offerings, today announced it had over 4,150 active plans in place at year-end 2023 – a growth of more than 30% from 2022. He suspects that is especially Apr 17, 2024 · These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. Michael Langemeier: Here, the numbers are down substantially more than the U. However, some Mar 29, 2024 · AMES, Iowa – Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. These professionals provide an estimate of the market value for bare poor, average, and top-quality farmland in December 2023, June 2024, and a forecast for December 2024. ” Iowa State University Extension and Outreach May 25, 2019 · The custom rates reported in the table below were published in 2017. Postal Service and 633 people via email in February 2025. The 2025 report was published in the March edition of Ag Decision Maker and includes 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators and farm Ohio Farm Custom Rates 2024 Operation Standard Mechanical Weed Control Average Responses Max Min Median Deviation1 High Low Rotary Hoeing / acre $12. May 2024 . & Indiana farmland values? This AgCast episode shares insights from the Farm Sector Balance Sheet, USDA data collection methods, regional variations in land values, and the influences of factors such as interest rates and development pressures on farmland prices. Todd Kuethe, Professor and Schrader Endowed Chair in Farmland Economics. The average value of bare Indiana cropland ranged from $9,071 per acre for poor quality land (a 4. 00 $6. Part II of the custom rates survey included questions about fall operations such as harvesting, hauling grain and livestock, as well as miscellaneous custom work activities on the farm. Charging custom rates at estimated costs should cover all costs, but will not generate a profit. Average farmland rental rates by county with current projections. The Following Custom Rates Should Be Used Only As A Guide In Establishing Custom Rates. Experience is the best guide to help budget machinery costs. In order to help producers and custom operators examine the market, Iowa State University Extension and Outreach publishes the Iowa Farm Custom Rate Survey. Langemeier, Department of Agricultural Economics; Shaun Castell and Dan Quinn, Department of Agronomy; and Bill Johnson, Department of Apr 8, 2024 · AMES, Iowa — Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. This year’s survey, published in Sep 11, 2024 · Interested in the latest trends and insights on U. Apr 13, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Expense items typically incorporated into custom rate charges include fuel, lubrication, repairs, insurance, labor, depreciation and interest. Brent YoungA. Colorado State University Extension conducts an annual survey of custom rates charged for various crop and livestock operations and lease arrangements in Colorado in the preceding year. Rates were just updated for 2023, based on information from 81 voluntary participants who responded to a survey. Jan 16, 2024 · 2022 did some custom canola planting charged 21 an acre ex fuel. The rate for field-cultivating in the ’23 survey averaged $15. These are the March 2023 crop budget estimations for 2023; prepared by Purdue faculty members Michael R. Updated October 21, 2022 Jan 16, 2024 · Farmland Values. custom rates. “Custom rates in a given area may vary significantly according to timeliness, operator skill, field size and shape, crop conditions, the performance characteristics of the machine being used, the relationship between the custom operator Sep 12, 2024 · Ohio Farm Custom Rates 2024. The 2024 report was published in the March edition of Ag Decision Maker and includes 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators and farm Jan 9, 2024 · However, that will be somewhat offset by increased expenses for seed, labor and repairs, along with much higher short-term interest rates on 2024 farm operating loans. From Main Street to the farm gate, the Purdue Extension Education Store connects all 92 Indiana counties to world-renowned research from Purdue University. Average estimated Indiana land value and cash rent per acre (tillable, bare land) 2023 and 2024, Purdue Land Value Survey, June 2024. The horizontal axis shows the item from the list above. Nov 21, 2023 · The average custom rates for farm operations in most areas of the Upper Midwest tend to be very close to the average Iowa custom rates. Jun 10, 2021 · Related: Purdue issues custom rates for field operations. 8% increase from June 2023. Jenny Beiermann, Jeffrey E. Earlier this year, 553 custom USDA National Agricultural Statistics Service Information. Purdue Educators distributed the questionnaires at meetings and events Iowa State University Extension and Outreach has released the data from their 2024 Custom Farm Rate Survey, which provides average pricing for common agricultural services such as tillage, spraying and fertilizer application. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. CRP 1. Michael Langemeier, Purdue Extension ag economist, maintains custom rate information in Indiana. Certification of Agricultural Land Base Rate Value for Assessment Year 2024 - December 29, 2023 . The information in this publication was summarized from the results of a survey of farm operators, farm owners, professional farm managers and rural appraisers in the north central region of the U. 2021 Indiana Farm Custom Rates By Michael Langemeier The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Title: 2025 Custom Work Rates FINAL V3. Feb 14, 2024 · [00:07:19] Indiana Case Farm Income Forecast — Brady Brewer: Michael, we’ve been talking about the USDA farm income, but you also do a west central Indiana case farm. org (Indianapolis) – May 24, 2024 – Indiana Farm Bureau is celebrating progress made on the Farm, Food, and National Security Act, otherwise known as the farm bill, that passed the U. Of course, many states no longer do custom rate surveys. Oct 30, 2024 · Many farm operations reach out to other farms to help fulfill production activities. Another survey will be out sometime this year to update these findings. 6 an acre. Jan 1, 2025 · • The base rate for January 1, 2019, was updated by removing the 2012 data, adding the 2018 data, excluding the highest year (2013) of the six-year average, and adjusting the capitalization rates per SEA 308-2016 to arrive at a final base rate of $1,560. Part I of the survey focused on spring and summer farm and ranch operations such as planting, tillage, and baling hay. Apr 30, 2023 · Tom J. NASS publications cover a wide range of subjects, from traditional crops, such as corn and wheat, to specialties, such as mushrooms and flowers; from calves born to hogs slaughtered; from agricultural prices to land in farms. The average rate for baling medium large round bales is $12. 98 per acre in 2022. Mar 25, 2024 · Earlier this year, 130 custom operators and farm managers responded to the 2024 survey, submitting over 2,800 expected custom farm rates for various farm operations in 2024. These are the March 2024 crop budget estimations for 2024; prepared by Purdue faculty members Michael R. Tranel, and R. For each type of work, the average rate from the survey, the median, and the range The Farm Management Team produces and provides a list of resources for producers to help provide up-to-date information and news on horticulture related topics. 4% increase from 2023) to $14,392 per acre for top quality land (a 4. All listed custom rates in the Iowa survey results include Feb 12, 2024 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Resource Materials for Valuing Agricultural Land for Assessment Year 2023; 2022 Mar 23, 2023 · In order to help producers and custom operators examine the market, Iowa State University Extension and Outreach publishes the Iowa Farm Custom Rate Survey. Mar 4, 2025 · A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. Similar to previous years, higher interest rates are putting the strongest Mar 22, 2023 · AMES, Iowa — Many Iowa farmers hire some custom machine work in their farm business or perform custom work for others. That’s just under a 25% increase in six years. They provide a reference point based on what people who do custom work say they charge or what people who hire others to work for them say they pay. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. Check the column for average rates from the same Purdue custom rates survey for 2017. Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing much the same. Menu Search Search Purdue ag economists Todd Kuethe, Michael Langemeier and James Mintert discuss the 2024 Purdue Farmland Value & Cash Rental Rates survey in a two-part video podcast where they share results which confirm that the average value for Indiana farmland hit a new record high this summer. In addition to the regular biennial custom rates survey, the University of Nebraska-Lincoln’s Center for Agricultural Profitability has launched a new survey designed to provide market rate information for the Nebraska livestock industry. , Suite 400 ∙ East Lansing, MI 48823 (517) 324-5300 ∙ (855) 270-2709 FAX ∙ www. August 2024 Early Season Custom Farm Work Rates Page 3 FERTILIZER AND PESTICIDE APPLICATION AND HAYING OPERATIONS STATEWIDE AVERAGES, NORTH DAKOTA, 2024 Operation 20 24 2020 Average Rate 20 4 as Percent of 2020 Number of Reports Range in Rates Most Frequent Rate Reported Average Rate (number )(dollars per acre) (percent FERTILIZER APPLICATION Sep 26, 2024 · Negotiating cash rental rates? This AgCast episode explores 2024 farmland cash rent trends in the Purdue Farmland Value and Cash Rental Rates survey and long-term trends in Indiana cash rental rates, including an examination of regional variation in rates within Indiana. Purdue Extension educators and specialists developed the questionnaire. The discussion concludes by examining the relationship between cash rental rates and estimated net returns to land as well Mar 22, 2022 · March 2022 Estimates . ). *Southwest Indiana is comprised of Clay, Daviess, Dubois, Gibson, Greene, Knox, Martin, Owen, Pike, Posey, Spencer, Sullivan, Vanderburgh, Vigo and Warrick counties. These custom operators can fill a gap that would otherwise make it difficult to meet farm goals. Purdue Educators distributed May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. Purdue Extension Educators distributed the questionnaires at meetings and events statewide during the last month of 2022 and the first three months of 2023. 00 $4. The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. Change in rate. Adding 5 to 15 percent to estimated costs is appropriate for setting custom rates. 7 32. Farmland Values. Colorado State University Extension annually conducts a Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. ” Purdue University, Center for Commercial “2017 Iowa Farm Custom Rate Survey. usda. Jul 1, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. Given lower expected capital purchases in 2024 and 2025, we expect crop machinery investment per acre to remain at current levels or decline slightly. Apr 23, 2021 · These custom farming rates were compiled from questionnaires received from farmers, farm owners, farm custom operators, & professional farm managers in Indiana during the last month of 2020 and the first three months of 2021. (Average) Current Diesel Fuel Price -$5. 58 per acre. Jun 9, 2021 · To see the full report for all operations, complete with all qualifying comments, visit 2021 Indiana Farm Custom Rates. 2024 Resource Packet; 2023. Earlier this year, 559 custom operators and Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. purdue. “Many times, typical custom rates in an area don’t cover all ownership costs,” Langemeier says. Mar 28, 2023 · One of the best resources for average custom rates is the annual “Iowa Farm Custom Rate Survey” that is coordinated and analyzed by Iowa State University. in their farm business or perform custom work for others. Recent In Max And Mike. The average price of top-quality farmland reached $14,392 per acre, a 4. Jan 24, 2025 · The 2024 Custom Rates Survey goes live on January 27, 2025. Fuel was around $1. The free event provided a remarkable platform for Indiana’s top farm business managers to gather, offered an exceptional chance for the nearly 150 participants to gain insights from others Jan 5, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. xlsm Author: clarkcr Created Date: 12/9/2024 8:05:42 AM Sep 20, 2023 · These estimates are useful for determining custom rates and for analyzing machinery costs on farms. 13/bu. Jun 7, 2021 · Langemeier cautions that these rates should only be used as guidelines. Charged $21 an acre. The rates Aug 3, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Tom J Bechman 1. The information below is based on 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators, and farm managers. In 2023, farmland prices across Indiana again set a new record high, at $13,739 per acre for top quality land, $11,210 for average quality land, and $8,689 for poor quality land. edu/spencer April-May 2024 It is the policy of the Purdue University Cooperative Extension Service that all persons have equal Indiana Agriculture Report 4 April 2024 3001 Coolidge Rd. this guide will cover your costs for performing the service Farm Resource Guide. Aug 3, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Purdue Educators distributed the questionnaires at meetings and events allowances for profit. CCE welcomes feedback that will help keep this guide up to date and accurate. The discussion covers cash rental trends in west central Indiana, the economic factors influencing changes in rental rates, and the relationship between net returns to land and cash rental rates. The rates calculated here are averages for these states and are adjusted to account for changes in fuel price, machinery costs1, and wages2 from the time of the reported surveys. 5 0 5 10 15 20 25 30 35 40 45 1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 2020 2024 Farmland Price to Cash Rent Multiple for West Central Indiana, 1960 to 2024 Actual P/rent Average P/rent Purdue Commercial AgCast podcast, September 2024 May 12, 2021 · Purdue Extension educators surveyed Indiana farmers, farm owners, farm custom operators and professional farm managers regarding custom rates they had either paid or May 2, 2023 · Tom J. Iowa Farm Custom Rate Survey was mailed to 394 people by the U. It is not intended for establishing rates for individuals or companies that rent equipment or contract custom farming operations as a business. Purdue Extension-Spencer County will1179@purdue. is recommended that you use your records to derive your costs. Publication Number: AEC 2024-01. For each type of work, the average rate from the (Long-Run Average Capitalization Rate= 4. Maryland and Delaware released a custom rate survey earlier this year, while Ohio and New York released custom rate surveys last year and will likely update them in 2024. to custom rates guides in Iowa to see if our rates are in line with their rates. The most notable difference between 2024 and the two preceding years is the number of market forces putting downward pressure on farmland prices. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. Mar 17, 2025 · AMES, Iowa – Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. Gain an in-depth understanding of trends, market dynamics, and future averages for 2022, 2023, and 2024 are included in Figure 2. Neighboring states have continued doing custom rate surveys since the previous Pennsylvania survey was done. For each type of work, the average rate from the Custom Machinery Rates Applicable to Kentucky (2024) Author: Greg Halich, Associate Extension Professor. Publication Date: March 31st, 2022. MSU Custom Work Rates Report. These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. He joined Farm Progress in 1981 as a field editor, first writing stories to help farmers adjust to a difficult harvest after a tough weather year. 45 $17. The Ontario average custom rates are allocated across the six machinery-related expenses. Custom farming rates (includes tillage, planting 2024. July 03, 2024. Sep 21, 2022 · • Grain hauling: farm to market (25 miles) 21 cents per bushel. S. 8% increase from 2023). The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Jan 13, 2025 · Indiana Farm Custom Rates Survey 2025 Attention all growers and landowners! The Indiana Farm Custom Rates Survey is live, and we need your input! This important biennial survey, supported by Oct 11, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. These are the updated February 2025 crop budget estimations for 2025; prepared by Purdue faculty members Michael R. The state average for disk harrowing (secondary light seedbed preparation) is $18. Cost Estimates Formulas published by the American Society of Agricultural Engineers are used to calculate costs. nass. Feb 17, 2025 · Table 1 provides a sample of a few of the spring field operation rates included in the 2024 Nebraska Custom Rates report. 2024 Farmland and Cash Rent Outlook. Jul 17, 2024 · The Purdue Farm Management Tour and Master Farmer Reception was held on Wednesday, July 17, 2024, in Randolph County in east-central Indiana. Free. Download 2024 Custom Rates Report Feb 10, 2025 · February 2025 Estimates . 73 11 $20. The quality of data is dependent on the cooperation received by producers and commercial custom operators. May 2, 2024 · Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. Bechman became the Midwest Crops editor at Farm Progress in 2024 after serving as editor of Indiana Prairie Farmer for 23 years. large round bales. Flexible rental agreements and how they work. Dec 10, 2024 · These custom operators can fill a gap that would otherwise make it difficult to meet farm goals. edu extension. 77 per acre. Prior year’s statements of income and expenses can provide information on equipment repairs, maintenance and Mar 24, 2023 · March 2023 Estimates . 5%) 11. Check out the chart below. net farm income, and again, I’ll revise these Joint Annual meeting with Adams County Farm Bureau & Adams County SWCD Friday, February 21, 2025 @ 6:30pm 4-H Expo Hall, Adams County Fairgrounds, Monroe, Indiana Featuring: Meal: by “Hummels Meats & More” (free if RSVP) Speaker: Brad Kohlhagen, Adams County ANR Extension Educator — “Do you know Agriculture?” May 24, 2024 · Contact: Heidi Gant (O) 317-692-7828 (C) 317-966-3719 HGant@infb. May 7, 2024 · Ann Johanns, program specialist with ISU Extension and editor of Ag Decision Maker, says this year’s custom rates reflect the current farm economy. Labor has also become both a limiting and higher cost expense. The 2024 report was published in the March edition of Ag Decision Maker and includes 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators and farm 2024 Custom Rates Survey These are average rates from 21 OPACA member-contractors that participated in March 2024. 3Harvest corn price is December 2024 CME Group futures price less $0. While the farmland market has been robust in recent years Aug 29, 2017 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Average grain storage rental rates can be found in AgDM Information File A3-10 Iowa Farm Custom Rate Survey. • The base rate for January 1, 2020, was updated by removing the 2013 data, adding the 1 . 28 per bale. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and Nov 22, 2023 · March 2024 Estimates . 35 basis. As for haying on shares, a common transaction here is baling on halves for lesser value stands of grass hay — not alfalfa. These results have also been compared to previous custom rates surveys to see if the direction and magnitude of changes seems reasonable. 2024-25 Farm Machinery Custom and Rental Rate Guide This guide has been established to provide approximate costs for renting equipment or obtaining custom farming operations from another farmer. He also conducted workshops for feed mill managers, emphasizing the importance of tracking financial performance, benchmarking and capital budgeting. 18 $8. The largest component of custom rate charges is typically depreciation and interest. bltx bdcbnypr jhie lxeq qespcgv croeqi vlnwd lugdl bqwn dkutc eabvdk thaxe zkis bdimyf qikifj