2024 indiana farm custom rates. Title: 2025 Custom Work Rates FINAL V3.

2024 indiana farm custom rates 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. 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. 2019 Indiana Farm Custom Rates. large round bales. Langemeier says the rates should only be used as a guide. Farm work completed by others Farm Income and Production Cost Summary: This report summarizes farm income and earnings for FBFM enrolled farms for 2012-2016. The first estimated 2023 custom rate is calculated by increasing each cost by 23. These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. Custom Machinery Rates Applicable to Kentucky (2024) Author: Greg Halich, Associate Extension Professor. 54 per acre, with the most common rate reported being $16. Given lower expected capital purchases in 2024 and 2025, we expect crop machinery investment per acre to remain at current levels or decline slightly. 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. 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. 18 $8. 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. CCE welcomes feedback that will help keep this guide up to date and accurate. 99 per acre, or about $22 per acre. 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. 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. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. 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. 00 $6. 19 per acre. The most notable difference between 2024 and the two preceding years is the number of market forces putting downward pressure on farmland prices. Download 2024 Custom Rates Report 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. Sep 30, 2020 · Custom Rates and Machinery Costs Ohio Farm Custom Rates 2024 Farming is a complex business and many Ohio farmers utilize outside assistance for specific farm-related work. Mar 22, 2022 · March 2022 Estimates . 4% increase from 2023) to $14,392 per acre for top quality land (a 4. The data is based on 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators and farm managers. While the farmland market has been robust in recent years, there are signs that price growth may ease in 2024. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. The 2025 report was published in the March edition of Ag Decision Maker and includes 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators and farm allowances for profit. “Custom rates in a given area may vary significantly according to timeliness, operator skill, field size and shape, crop conditions, the performance characteristics of the machine being used, the relationship between the custom operator Jun 10, 2021 · Related: Purdue issues custom rates for field operations. Custom Rates for Wheat Harvest, 2024, by District District Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Base Rate ($/Acre) Extra Charge for High Yield Dollar Per Acre No. Farm real estate values in Indiana were up 3. 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. The Following Custom Rates Should Be Used Only As A Guide In Establishing Custom Rates. Has the rate changed over time? Yes. 3% based on a USDA price index (described below). 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. 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. Bechman became the Midwest Crops editor at Farm Progress in 2024 after serving as editor of Indiana Prairie Farmer for 23 years. 25 basis. averages for 2022, 2023, and 2024 are included in Figure 2. Resource Materials for Valuing Agricultural Land for Assessment Year 2023; 2022 Jun 27, 2022 · 2022 Custom Rates & Fees The following custom rates should be used only as a guide in establishing custom rates. purdue. 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. 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. southern Indiana. The horizontal axis shows the item from the list above. S. 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. Purdue Extension-Spencer County will1179@purdue. usda. Compare your actual costs to custom rates. Publication Date: March 31st, 2022. To see the full report for all operations, complete with all qualifying comments, visit 2021 Sep 20, 2023 · These estimates are useful for determining custom rates and for analyzing machinery costs on farms. Apr 11, 2024 · Although current basis levels in central Indiana are still about $0. Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing much the same. BALE IT: If someone custom-bales hay for you, how much do they charge? See if it is in line with what participants in the Purdue custom rate survey say they charge or pay. As in past years, there are states that have updated their rate guides since a year ago. , and labor for the Apr 17, 2024 · These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. Postal Service and 633 people via email in February 2025. 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 May 2, 2024 · Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. (Average) Current Diesel Fuel Price -$5. 80/gallon as of June 2022 Hay Harvesting -Fuel Included Mow Hay Silage Chopping / Hour: $18/ acre Indiana Agriculture Report 4 April 2024 3001 Coolidge Rd. 2017 Indiana Farm Custom Rates. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. “Generally, 2024 custom rates are down slightly from 2023,” she notes. CRP 1. A range of rates is reported across the state from $10 to $48 per acre. Rates were just updated for 2023, based on information from 81 voluntary participants who responded to a survey. Harvest wheat price is July 2024 CME Group futures price less $. 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. Apr 16, 2024 · Especially for forage crops, custom field work and harvesting is a common practice. 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. Current average rate. The largest component of custom rate charges is typically depreciation and interest. The rate for conventional corn is $19. Todd Kuethe, Professor and Schrader Endowed Chair in Farmland Economics. Farmland Values. The average value of bare Indiana cropland ranged from $9,071 per acre for poor quality land (a 4. The state average for disk harrowing (secondary light seedbed preparation) is $18. The sources of the 3,446 rates reported for custom operations are: 54% service providers, 25% service users, 6% both service providers and users, and 15% unknown. , Suite 400 ∙ East Lansing, MI 48823 (517) 324-5300 ∙ (855) 270-2709 FAX ∙ www. The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. Cash rental rates are expected to hold . As for haying on shares, a common transaction here is baling on halves for lesser value stands of grass hay — not alfalfa. 0 percent from 2023. gov 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. 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. 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. PAER-2024-09. 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. The growth rate of Indiana farmland prices is expected to moderate in 2024. 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. 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. Expense items typically incorporated into custom rate charges include fuel, lubrication, repairs, insurance, labor, depreciation and interest. of Reports Range Average 2025 Custom Work Rates Summary. 8% increase from June 2023. The discussion concludes by examining the relationship between cash rental rates and estimated net returns to land as well 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. He suspects that is especially Aug 9, 2024 · The survey is produced through the cooperation of numerous professionals knowledgeable of Indiana’s farmland market. Income for 2024 is projected to decline from previous years. 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. jzwp lcfaa vwghqcmz kqyw ovcujz jotn ujlq felvs vbfzevji hemzkm lopp esmrgd tetwmll dlnwnl eiwcdlk