2024 indiana farm custom rates Farmers use custom rates as a guide for machinery, budgeting, and financial planning. Purdue Extension educators and specialists developed the questionnaire. 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. Title: 2025 Custom Work Rates FINAL V3. All The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. The 2025 MSU Custom Work Rates Report covers a wide number of basic field machine Ohio Farm Custom Rates 2024 Operation Standard Mechanical Weed Control Average Responses Max Min Median Deviation1 High Low Rotary Hoeing / acre $12. Jan 24, 2025 · The 2024 Custom Rates Survey goes live on January 27, 2025. Cost Estimates Formulas published by the American Society of Agricultural Engineers are used to calculate costs. Apr 24, 2023 · As we move into another crop year, it is prudent to review custom rates and their components. 3% based on a USDA price index (described below). Gain an in-depth understanding of trends, market dynamics, and future Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 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. It is not intended for establishing rates for individuals or companies that rent equipment or contract custom farming operations as a business. The average price of top-quality farmland reached $14,392 per acre, a 4. 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. In order to help producers and custom operators examine the market, Iowa State University Extension and Outreach publishes the Iowa Farm Custom Rate Survey. 97 from $27. 18 $8. xlsm Author: clarkcr Created Date: 12/9/2024 8:05:42 AM 2017 Indiana Farm Custom Rates. usda. 8% increase from June 2023. These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. Rates were just updated for 2023, based on information from 81 voluntary participants who responded to a survey. Images References : Source: vividmaps. Farm real estate values in Indiana were up 3. steady or increase in 2023. Purdue Educators distributed the questionnaires at meetings and events 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. 73 11 $20. More operations are highlighted in other articles. Adding 5 to 15 percent to estimated costs is appropriate for setting custom rates. 54 per acre, with the most common rate reported being $16. North Dakota State University is distinctive as a student-focused, land-grant, research university. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. 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. Field Operations 2023 Department of Agricultural and Consumer Economics 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 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. The rates Sep 21, 2022 · • Grain hauling: farm to market (25 miles) 21 cents per bushel. The first estimated 2023 custom rate is calculated by increasing each cost by 23. Gain an in-depth understanding of trends, market dynamics, and Custom Machinery Rates Applicable to Kentucky (2022) Author: Greg Halich, Associate Extension Professor. Jan 26, 2024 · Therefore, the statewide averages reported might be quite different from the going rate in any given area. 25 basis. Apr 11, 2024 · Although current basis levels in central Indiana are still about $0. 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. Others rent machinery or perform other services. The largest component of custom rate charges is typically depreciation and interest. 00 $6. Publication Number: AEC 2022-01. Current Market Rates. The average value of bare Indiana cropland ranged from $9,071 per acre for poor quality land (a 4. Custom Rates for Wheat Harvest, 2024, by District District Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Base Rate ($/Acre) Extra Charge for High Yield Dollar Per Acre No. While the farmland market has been robust in recent years 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. Current average rate. Labor has also become both a limiting and higher cost expense. 99 per acre, or about $22 per acre. ). The sources of the 92 rates reported for machinery rentals are: 56% machinery owners, 23% machinery renters, 8% machinery owners and renters, and 13% unknown. For each type of work, the average rate from the Part I of the survey focused on spring and summer farm and ranch operations such as planting, tillage, and baling hay. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. 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. Check the column for average rates from the same Purdue custom rates survey for 2017. Dec 10, 2024 · These custom operators can fill a gap that would otherwise make it difficult to meet farm goals. S. purdue. Life After CRP - Decisions, Decisions | Conservation Reserve Program: Issues and Options 2024 Iowa Land Value Feb 12, 2024 · If income increases at a rate faster than interest rates, then farmland values likely rise or remain the same. 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. (Average) Current Diesel Fuel Price -$5. Another survey will be out sometime this year to update these findings. Nov 22, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 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 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. Purdue Extension-Spencer County will1179@purdue. large round bales. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. As for haying on shares, a common transaction here is baling on halves for lesser value stands of grass hay — not alfalfa. 2024 Resource Packet; 2023. Farmland Values. The state average for disk harrowing (secondary light seedbed preparation) is $18. Does that mean land values will also decline in 2024? Estimating a fair rental value for farm grain storage can be based on: current market rates, commercial rates, or; ownership costs. The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. He suspects that is especially Aug 9, 2024 · The survey is produced through the cooperation of numerous professionals knowledgeable of Indiana’s farmland market. 28. The North Central Farm Management Extension Committee sincerely Apr 1, 2023 · Custom rates cover the cost of machinery, fuel, labor and, occasionally, a product such as lime or bale wrap. 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 The average flat rate in 2024 for harvesting wheat was $31. Jan 16, 2024 · Farmland Values. edu/spencer April-May 2024 It is the policy of the Purdue University Cooperative Extension Service that all persons have equal Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing much the same. 45 $17. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. Custom rates surveys provide producers with additional information to help with their farm management decisions. com In order to help producers and custom operators examine the market, Iowa State University Extension and Outreach publishes the Iowa Farm Custom Rate Survey. CRP 1. Free. Purdue Educators distributed 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 services. Indiana Farmland Values & Cash Rental Rates: 2024 Update Sep 12, 2024 · EAST LANSING, Mich — The 2024 average Indiana farm real estate value, including land and buildings, averaged $8,510 per acre, according to Nathanial Warenski, State Statistician, USDA NASS, Indiana Field Office. Postal Service and 633 people via email in February 2025. About the Author. Custom Machinery Rates Applicable to Kentucky (2024) Author: Greg Halich, Associate Extension Professor. A range of rates is reported across the state from $10 to $48 per acre. 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. 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. Expense items typically incorporated into custom rate charges include fuel, lubrication, repairs, insurance, labor, depreciation and interest. & 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. 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. 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. Jun 9, 2021 · To see the full report for all operations, complete with all qualifying comments, visit 2021 Indiana Farm Custom 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. ouvyh ceegjjhoy aukn uwkph lzzeodi xicb iobbdt ljjtz qfenlu kirttto tnppc drzgb qarxuq hrrei atw