Purdue custom farming rates 2024 pdf. rates in 2023 rates rates 34.

Purdue custom farming rates 2024 pdf Purdue Extension educators and specialists developed the questionnaire. Jan 26, 2024 · Therefore, the statewide averages reported might be quite different from the going rate in any given area. Read more here Corresponding author Bruce Erickson, Department of Agronomy, Purdue University, 915 W. 83 38 26. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. Mar 25, 2024 · Following are the “Median” custom rates for some common farming practices for 2024, as well as the (range) of custom rates listed, based on the “Iowa Farm Custom Rate Survey. Therefore, the statewide averages reported here might be quite different from the going rate in any given area. The main revision in the budgets is a reduction in the corn and soybean prices assumed for both 2023 and 2024, resulting in lower return and profitability projections. The information below is based on 122 responses and 3,389 custom rates provided by Iowa farmers, custom operators, and farm managers. Agricultural Economics College of Agriculture Purdue University. Especially for forage crops, custom field work and harvesting is a common practice. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany 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 received during the past year. Feb 14, 2025 · Updated February 2025. ’s RD Schrader, and Halderman Real Estate & Farm Management’s Howard Halderman discussed the drivers behind the sharp increase in farmland values and prospects for the upcoming year. Responses 2017 avg. Charging custom rates at estimated costs should cover costs, but will not generate profits. ag/paer. Pennsylvania released its report before the new year. nass. Todd Kuethe, Professor and Schrader Endowed Chair in Farmland Economics. 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. 5% increase. 90 $12. It is not intended for establishing rates for individuals or companies that rent equipment or contract custom farming operations as a business. Check the column for average rates from the same Purdue custom rates survey for 2017. Custom Farm Rates -2023 Producers needing estimates for farm rates for practices from planting and harvest to tiling, hay baling and grain hauling can find averages at the following sites: Current average rate. in the first week of June but was $0. West Lafayette, IN. If a structure or piece of equipment is rented for less than a full year, and can be rented to someone else for the rest of the year, the annual ownership cost estimates should be reduced proportionately. 45 $17. use published custom rate surveys. 20 18. 3It is assumed that the current farm bill will not provide ARC-CO or PLC payments for base acres in 2024. Langemeier, Department of Agricultural Economics; Shaun Castell and Dan Quinn, Department of Agronomy; and Bill Johnson, Department of 1Rotations are as follows: c-c = all of the farm acres in continuous corn; c-b = one-half of the farm acres in rotation corn and one-half in rotation soybeans. Pre-registration is needed for accommodations, exams, and certificates as well as to speed the registration process and printing of certificates, and 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. 00 $14. 18 $3. 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. Farm tasks in the report include everything from planting to harvest, with cost data that reflects the average, median and range for each task. 8% increase from 2023). Kuethe, Schrader Endowed Chair in Farmland Economics and the survey’s author. steady or increase in 2023. Legal Aspects of Indiana Farmland Leases and Federal Tax Considerations. For each type of work, the average rate from the Mar 28, 2024 · The 2024 custom farming rates for corn and soybean production are also expected to remain steady compared to a year earlier, following an increase of nearly 20% in the previous five years. ©Informa. To learn more about Indiana’s 2024 farmland values, listen episode 173 for an in-depth understanding of trends, market dynamics, and future expectations for farmland values: https://purdue. Percentage increase may not be much larger than for other operations, but because combines are a high-dollar item and custom combining rates are relatively high compared to other operations, numbers appear to move up faster than they do percentagewise. Jun 8, 2019 · 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 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. 65 24. Aug 7, 2020 · Purdue Farmland Value Survey §Survey conducted annually in June since 1970 §Respondents: rural appraisers, ag lenders, farm managers, and farmers §Information collected: •Land values December 2019, June 2020, December 2020 (projection) •Top, average, and poor qualityland •Annual cash rental rate •Long-term corn yield (productivity) 2 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. 2 IC 32-21-1-1. 85 711 $3. Tom J Bechman 1, Editor, Indiana Prairie Farmer. While the farmland market has been robust in recent years, there are signs that price growth may ease in 2024. Variable cost per acre in 2024 is expected to be $58 lower than it was in the 2023 budget, which represents an 8. Feb 8, 2013 · Total Costs–The total of all ownership and operating costs can be used to estimate a rental charge for the whole year or a portion of the year. Nick Paulson, Gary Schnitkey, Bradley Zwilling, and Carl Zulauf - Nick Paulson - Illinois crop budgets for 2025 are now available and, overall, projections are for lower production costs for corn and soybeans in 2025 compared with 2024. Purdue Farmland Value & Cash Rent Survey Background §Survey conducted annually in June since 1974 §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 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 rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. Has the rate changed over time? Yes. 2% in 2025, a bit slower than in 2024. 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. 90 Moldboard plowing / acre 18. 03/bu. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. morning field trip, which will run from 9 -12 AM), at the Southern Indiana Purdue Agricultural Center (SIPAC), 11371 E. edu 1101 E CR 800 N Chrisney, IN 47611 812-362-8066 spencerces@purdue. , West Lafayette, Indiana 47907. Monday evenings from February 5 through March 25, 2024 from 6-9 PM EST (except for Saturday. 64 18% Jan 26, 2024 · Dr. One of the tour’s primary goals is to encourage Hoosier farmers to develop high-level management knowledge and skills. S. 2023 Indiana Farm Custom Rates. 54 18 37 19. Aug 20, 2020 · Purdue Agricultural Economic Report - about cash rent and land values. Custom Rates – Crop and pastureland lease and rental; Custom Rates – Field operations; Custom Rates – Grain harvesting operations; Custom Rates – Hay and silage operations; Custom Rates – Livestock 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 May 2, 2024 · Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. He relies on Purdue Extension educators to help distribute surveys, and then he compiles the data. The client pays a rate per acre for each farming operation requested to be completed. University of Illinois Extension provides equal opportunities in programs and employment 2024 Custom Rates Survey These are average rates from 21 OPACA member-contractors that participated in March 2024. 97 from $27. For example, SE Indiana corn basis was -$0. You may reach Gerry by E-mail: harrisog@purdue. 2024 Crop Cost and Return Guide. 60 to $4. See the complete Purdue custom rate survey results for ’23 at bit. Machinery Costs; Finance; Illinois Crop Budgets and Historic Returns; Farmland Leasing; Whole Farm and Other Reports; ARC / PLC Decision; ARC/PLC Calculators. The information below is based on 94 responses and 2,621 custom rates provided by Iowa farmers, custom operators, and farm managers. This worksheet is also included in the 2025 MSU Custom Work Rates Report publication. Cost Estimates Revised April 2024 Historical Iowa Farm Custom Rate Survey Averages Tillage 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Chopping cornstalks / acre $13. These are the November 2023 crop budget estimations for 2024. edu . READ MORE The annual 2024 farmland values & cash rents survey report from Purdue University hit the news wire today. 47 33. Our custom farm rates are in line with the Purdue Custom Farming Rates. Adding 5 to 15 percent to estimated costs is appropriate when determining custom rates. Ohio will release its biannual custom rate report in May or June. Unlike history suggests, the movement has generally been a strengthening in basis for both corn and soybeans. To see the full report for all operations, complete with all qualifying comments, visit 2021 Purdue University is an Affirmative Action institution. 80 18. Jan 31, 2025 · Summary: Despite lower interest rates, agricultural credit market conditions weakened in 2024, with rising loan demand, declining repayment rates, and reduced fund availability signaling challenges for 2025. Twenty percent of the respondents perform custom work, 16% is often referred to as “custom farm work” or more simply, “custom work”. is probably the most widely used custom rate information that is Jan 16, 2025 · USDA’s Farm Service Agency dates to make changes to program enrollment for ARC and PLC for the 2025 crop year are open from Jan. Conference adjourns §Respondents: rural appraisers, ag lenders, farm managers, and farmers §Information collected: •Land values December 2023, June 2024, December 2024 (projection) •Top, average, and poor quality land •Annual cash rental rate •Long-term corn yield (productivity) Purdue Commercial AgCast podcast, September 2024 Nov 6, 2024 · 2023 Purdue Crop Cost and Return Guide by Michael Langemeier, Professor of Agricultural Economics – The 2023 Purdue Crop Cost and Return Guide, which is available for free download from the Center for Commercial Agriculture website, gives estimated costs for planting, growing and harvesting a variety of crops, as well as estimated Mar 5, 2024 · Responses to this question, which have been consistent in recent years, point to further consolidation among farm operations. 81 per bale. 90 $11. The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. 00 15 28 12 16 33. 5% compared to last year. December 2024 Late Season Custom Farm Work Rates Page 3 DRYING GRAIN AND HAULING CROPS, HAY AND CATTLE STATEWIDE AVERAGES, NORTH DAKOTA, 2024 Operation Basic Charge - 2024 2020 Average Rate 2024 as % of 2020 Extra Charge – 2024 Number of Reports Range In Rates Most Frequent Rate Reported Average Maximum Moisture Content Average Rate Number of Jul 12, 2024 · Depending on where you are located, Indiana corn and soybean basis have seen large swings in the last six weeks. Given lower expected capital purchases in 2024 and 2025, we expect crop machinery investment per acre to remain at current levels or decline slightly. 23 for each bushel Indiana Prairie Farmer January 2024: Page 20. The infographic below shows that Acres’ farmland transaction database indicates that the two counties with the largest per acre increase in farmland prices between 2023 Pathology, Purdue University. Page View; Contents View; Archive; Advertisers; Indiana Prairie Farmer; Indiana Prairie Farmer from 6:30-9:00 PM. 95 29. 85 28. Fixed cost (overhead cost) per acre is Mar 28, 2023 · Custom Farming Rates (includes tillage, planting and harvesting costs): Corn: $152. Highly regarded as a valuable resource for all farmers, agriculture professionals, lenders and farmland owners, the 2024 PAER report reveals that land values in Indiana have reached record highs. 20 20. " The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. 95 per acre, an increase of $3. Now, the net farm income forecast is expected to be 116. 39 35. ” Purdue University, Center for Commercial Agriculture, May 2017. Purdue Extension Educators distributed the questionnaires at meetings and events statewide during the last month of 2022 and the first three months of 2023. Government payments are expected to zero in 2024. Looking Ahead While farmland prices increased between the 2023 and 2024 Purdue Farmland Value and Cash Rent Surveys, much of the growth appears to have taken place in the later half of 2023. 80 $12. Ohio Farm Custom Rates 2024 Operation Standard Mechanical Weed Control Average Responses Max Min Median Deviation1 High Low Rotary Hoeing / acre $12. Field Operations 2023 Department of Agricultural and Consumer Economics CUSTOM RATES REPORT _____ Cooperating with the Pennsylvania Department of Agriculture Northeastern Regional Field Office 4050 Crums Mill Rd, Suite 203 Harrisburg, PA 17112 (717) 787-3904 www. 70 per bale, with large round bales coming in at $13. 01 to $11. The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. visit 2021 Indiana Farm Custom Rates. 66 per bushel for corn and $11. large round bales. For each type of work, the average rate from the survey, the median, and the range are shown. 70 1Rotations are as follows: c-c = all of the farm acres in continuous corn; c-b = one-half of the farm acres in rotation corn and one-half in rotation soybeans. Mitch Daniels Blvd. services. 18 $8. Helpful Links. Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing much the same. Gain an in-depth understanding of trends, market dynamics, and 2024 from 6:30-9:00 PM. Apr 23, 2021 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. 7 May 19, 2023 · The rate for wrapping bales is 73% higher than the rate in ’21, but only 8% higher than the rate for the same task in ’17. Bechman became the Midwest Crops editor at Farm Progress in 2024 after serving as editor of Indiana Prairie Farmer for 23 years. , and labor for the Mar 24, 2023 · March 2023 Estimates . A “custom rate” is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider. Average annual replacement costs for the larger farm size were calculated using the Purdue Machinery Cost Calculator for a timely machinery set. 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. While short-term loan rates may continue to decline, farmers face tighter operating margins and financial strain heading into the new year. 1 billion in the calendar year 2024. 65 per acre (Range = $70 - $275 per acre) May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. edu extension. Purdue’s Todd Kuethe, Schrader Real Estate & Auction Co. Kevin Stitt Governor State of Oklahoma Department of Agriculture, Food, and Forestry Blayne Arthur Secretary of Agriculture 2800 N. The average value of bare Indiana cropland ranged from $9,071 per acre for poor quality land (a 4. June 9, 2021. Farmland Values May 2, 2023 · Custom rates summarized in the recent 2023 Purdue custom rates survey indicate rising prices for harvesting and hauling grain. , and labor for the using rates where only 1-2 states were included in the calculation. 21 to April 15, 2025. 2024 Canola Corn. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. 2025 MSU Custom Work Rates Report Summary The Center partnered with Purdue Extension to hold the 91st annual Purdue Farm Management Tour on Wednesday, July 17, 2024, in Randolph County in east central Indiana. Ron Rathfon, Purdue Extension forester; Purdue Apr 17, 2024 · These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. ly/Indiana-custom-rates-23. 91 38 27. The user can evaluate up to three full-season crops, and the wheat double-crop soybean system. Nov 21, 2023 · The Iowa Custom Rate Survey, which also includes many miscellaneous farming practices and a formula for calculating rental rates. Current farmer return expectations are negative for both corn and soybeans across all Aug 6, 2023 · A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. 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. Purdue Extension-Spencer County will1179@purdue. Postal Service and 633 people via email in February 2025. Actual custom rates will be determined through the supply and demand for services within localized markets Thirteen percent reported a custom rate less than $5 per acre, 52 percent reported a custom rate between $5 and $7 per acre, 21 percent reported a custom rate between $7 and $9 per acre, 11 percent reported a custom rate between $9 and $11 per acre, and 4 percent of the respondents reported a custom rate of $11 or more per acre. Crop Share Leasing and Lease Forms (EC-210-W) Indiana Cash Farm Lease(EC-257-W) Flex Rent Calculator Tool User Guidelines. 14 41. Feb 10, 2025 · February 2025 Estimates . Custom rates reports. 5 percent decline. 13/bu. Ohio Farm Custom Rates . 36$ 0. 8% increase from June 2023. other farms use published custom rate surveys. Lunch will be on your own so we encourage you to explore the local food establishments in and around Winchester and Lynn, Indiana. 8 27. Mar 17, 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 managers. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. 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. 45 19. “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 values, which held relatively steady from 2023 to 2024. on July 10th. Purdue updates haying and baling custom rates Custom rates cover the cost of machinery, fuel, labor and, occasionally, a product such as lime or bale wrap. He is an Indiana Bar Member with 41 years of service at Purdue. 16 22. 27 15 26. 40 $12. 50 14 29 14. of Reports Range Average United States Department of Agriculture • Local Extension Councils Cooperating. rates in 2023 rates rates 34. This form is not intended to take the place of legal advice pertaining to con- Jun 10, 2021 · Related: Purdue issues custom rates for field operations. 15 39. Which is a decrease of 39. 82 30. The rate for conventional corn is $19. Information collected in the survey includes: •Estimated land values as of December 2023, June 2024 & a projection for December 2024 •Top, average, and poor Aug 26, 2024 · The 2024 Purdue Farmland Value Survey found the average value of bare Indiana cropland increased. edu or by phone toll free to the West Lafayette Purdue Campus, 1-888-398-4636), Ext. Iowa Farm Custom Rate Survey was mailed to 316 people by the US Postal Service and 237 people via email in mid-February 2023. 13 $6. This spreadsheet can be used along with the Purdue Crop Cost & Return Guide to examine gross revenue, costs, and earnings for crop enterprises. , we have an up-to-date tillage, planting and harvesting fleet along with the latest technology to meet your corn, soybean, wheat and cover crop needs. 2Crop's contribution margin is the per acre contribution margin from Table 1. Aug 29, 2017 · Langemeier, Michael. The average flat rate in 2024 for harvesting wheat was $31. Michael Langemeier, Associate Director of the Purdue Center for Commercial Agriculture, periodically conducts state-wide surveys to determine average Indiana farm custom rates, reported at the Purdue Center for Commercial Agriculture website under the “Publications” tab. 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. email: berickso@purdue. 99 per acre, or about $22 per acre. November 12, 2024 Mar 22, 2022 · March 2022 Estimates . The free event 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! Please contact 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. 2022 Purdue Crop Cost & Return Guide March 2022 Estimates ID-166-W Purdue Extension 6Based on 2021 cash rent per bushel of corn yield reported in the article entitled "Indiana Farmland Prices Hit New Record High in 2021," Purdue Agricultural Economics Report, July, 2021. Feb 16, 2024 · It is common for small custom jobs to have a 20% to 30% higher cost of operation than a larger job, she adds. 98 per acre in 2022. Compare your costs for baling small squares vs. Decision Tool, ARC-CO & PLC Per Acre Payment Estimator for Iowa, 2025-2026 , uses reported and projected prices from USDA Farm Service Agency and Risk Management Agency to project payments at $YDLODEOH DW Z W l l Á Á Á X v X u µ X µ l ( u z u v P u v l µ P r } r } ( r } µ ] } v Indiana Farm Custom Rates; Farm Bill Resources; Managing Farm Risk; Purdue Agricultural Economics Report; View All >> Series. Average 2023 farm custom rates for some typical tillage, planting, and harvesting practices, as well as custom farming rates, are listed in the adjoining Table. “Generally, 2024 custom rates are down slightly from 2023,” she notes. If your machinery cost per acre is relatively high, then a farm should consider using a Purdue University is an Affirmative Action institution. 00 $4. In addition, rental rates per bushel of corn held relatively stable as well. Labor has also become both a limiting and higher cost expense. Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates ; National 2023/2024 ARC-County Payment Rates ; Kansas 2022/2023 ARC-CO Payment Rates ; National 2022/2023 ARC-CO Payment Rates 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. 6 24. 56 per bushel for 1 Gerry is a professor and Extension Specialist, Dept. Amy Alka, Purdue University Agriculture & Natural Resources Extension Educator in Randolph County, recommends you give these eateries a try if you’re looking for lunch or a snack during the 2024 Purdue Farm Management Tour. As a final note, these rates are published to provide a baseline for estimating reasonable custom machinery rates in Kentucky (as well as estimating production costs). The team provided an update on the change in Indiana farmland values and cash rental rates and reviewed farmland value estimates Sep 20, 2023 · These estimates are useful for determining custom rates and for analyzing machinery costs on farms. The growth rate of Indiana farmland prices is expected to moderate in 2024. April Hired Workers Down 5 Percent; Wage Rate Increased 5 Percent from Previous Year Mar 29, 2022 · The custom farming rates for corn and soybean production are expected to increase by about 1. 26 34. Here is just a sampling of Michigan’s custom rates, total cost per hour of use. Seven-year trading policy is assumed for combine and planter, 10-year policy for other field machinery. 75 $11. Twenty percent of the respondents perform custom work, 14% Mar 12, 2025 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 2017 Indiana Farm Custom Rates. 29. com. Jan 31, 2025 · Purdue ag economists Todd Kuethe, James Mintert, and Michael Langemeier discussed the results from the 2022 Purdue Farmland Values and Cash Rents Survey and USDA’s Land Values report during a webinar on August 24th. m. 40 $11. The average price of top-quality farmland reached $14,392 per acre, a 4. Purdue Educators distributed the questionnaires at meetings and events Apr 19, 2024 · Gerald Mashange: The economic research service published its February 2024, Farm Income Forecast and farm profits are expected to fall in 2024. 87 $1. 66 35. Break-even prices to cover all costs, including cash rent for farmland, range from $4. 2024 Purdue Crop Cost & Return Guide September 2023 Estimates 2023 Michigan State University Custom Work Rates Acres/Hr Acres/Yr Fuel Other Tillage 0 $0 - - $ - Chisel Plow 23 Ft 200 HP MFWD $53,500 11. 50 Apr 24, 2024 · NAAC contracting prices survey 2024 The results of the survey are based on red diesel at 85p/litre and are likely to vary as input costs change, so contractors should add a fuel surcharge to Sep 20, 2023 · Illinois Farm Management Handbook. Table 1 shows costs of combining corn and soybeans, operating a grain cart, and hauling grain. The average is calculated as the simple average of all responses. Farmers, landowners, farm custom The 2024 Purdue Farmland Values and Cash Rent Survey found that the Southwest region that saw the largest annual growth in average per-acre farmland prices, a 22. 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 7deoh &rqwlqxhg &rqwulexwlrq pdujlq lv wkh uhwxuq wr oderu dqg pdqdjhphqw pdfklqhu\ rzqhuvkls odqg uhvrxufhv dqg ulvn ,qfoxghv furs lqvxudqfh jhqhudo idup lqvxudqfh dqg plvfhoodqhrxv frvw 7kh frvw ri furs lqvxudqfh uhsuhvhqwv wkh suhplxp surmhfwhg iru d 5hyhqxh 3urwhfwlrq 53 srolf\ dw wkh fryhudjh The Price Loss Coverage Option in the 2018 Farm Bill: Updated September 24, 2019; The Agricultural Risk Coverage: County Level (ARC-CO) Option in the 2018 Farm Bill: Updated September 17, 2019; Release of 2018 Farm Bill What-If Tool: Updated November 5, 2019; The Case for Looking at the ARC-IC (ARC-Individual) Program Option: Updated October 29 Oct 25, 2024 · The full Purdue Agricultural Economics Report with 2024 survey results for farmland values and cash rental rates: https://purdue. Cash rental rates are expected to hold . 50 19. Date: 3/22/24 Prepared by: Michael R. Ag Policy & Outlook for a 2024 Farm Bill Brad Lubben, University of Nebraska-Lincoln: 3:00 p. 30 42. of Ag Econ, Purdue Univ. A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. 88 21. 44216 or directly 765-494-4216. Purdue Educators distributed the questionnaires at meetings and events statewide during the last Tom J. 25 $11. edu/spencer April-May 2024 It is the policy of the Purdue University Cooperative Extension Service that all persons have equal 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. PAER-2024-09. 73% Source: Purdue Land Value and Cash Rent Survey Purdue Commercial AgCast podcast, September 2024 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. Purdue Crop Cost & Return Guide (ID-166-W) What's the Right Rent? (EC-708) 2020-21 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. 00 $6. 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. More operations are highlighted in other articles. 80 $14. “To put growth rates into perspective, consider that a farm operation growing at a 5% annual rate will double in size in about 14 years, whereas a farm growing at an annual rate of 10% will need just seven years to Aug 24, 2023 · Michael Langemeier, a Purdue Extension Indiana custom farming rates by operation Harvesting Unit 2023 avg. Surveys were mailed/emailed to past profit are not included. Percentage change in a sample list of custom rates reported from 2022 to 2024 Some Common Nebraska Custom Rates 2022 State Average Rate 2024 State Average Rate Percentage % Change Drilling Small Grains, no-till drill, rate per acre 19. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm Jan 9, 2024 · Nick Paulson and Gary Schnitkey - Gary Schnitkey - Illinois crop budgets for 2024 have been revised from their initial release in August. 2025 Farm Bill What-If Tool (Sheet) ARC/PLC Calculator (Online) Publications. 70 27 33. Date: 9/11/23 Prepared by: Michael R. Background Survey conducted annually in June since 1974 2. Respondents are: rural appraisers, ag lenders, farm managers, and farmers 3. 95 27% Drilling Cover Crops, rate per acre 19. Jul 26, 2024 · values, which held relatively steady from 2023 to 2024. The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. Custom Indiana Cash Rental Rates 2024 vs 2023 Survey Results, State Averages by Land Quality 21 Land Quality Yield (Bu/Ac) 2023 Value ($/A) 2024 Value ($/A) Percent Change Top 226 $306 $313 2. If your machinery cost per acre is relatively high, then a farm should consider using a custom operator rather than replacing their own machine. 23 $4. Aug 9, 2024 · Amid much policy uncertainty, output will likely grow about 2. Change in rate. 1Rotations are as follows: c-c = all of the farm acres in continuous corn; c-b = one-half of the farm acres in rotation corn and one-half in rotation soybeans. As for haying on shares, a common transaction here is baling on halves for lesser value stands of grass hay — not alfalfa. For For example, the costs for harvesting dryland wheat may be known as “23 -23-23” or “3 23s” -- $23 per acre plus $0. 91% Poor 167 $212 $204 −3. Custom Rates for Wheat Harvest, 2024, by District District Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Base Rate ($/Acre) Extra Charge for High Yield Dollar Per Acre No. from the Purdue faculty discussed where interest rates were headed and implications for the farm economy. 8 billion from last year. These are the March 2023 crop budget estimations for 2023; prepared by Purdue faculty members Michael R. The Extension Home Meet the Team Beefenomics by Will Secor Budgets Farm Gate Report USDA Ag. 2024 Purdue Crop Cost & Return Guide March 2024 Estimates Jul 3, 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. EC-130-W • 2013 Indiana Farm Custom Rates It is the policy of the Purdue University Cooperative Extension Service that all persons have equal opportunity and access to its educational programs, services, activities, and 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. Corn Belt Farmland Values & Cash Rental Rates Todd Kuethe, Purdue University: 2:15 p. 29% Average 196 $257 $260 0. Menu. usda. Purdue Educators distributed the questionnaires at meetings and events statewide during the last 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. This publication reports custom rates based on a statewide survey. 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. Jan 16, 2024 · Farmland Values. 50 18. Langemeier, Department of Agricultural Economics; Shaun Casteel, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany and Plant Pathology, Purdue University. ag/agcast173 Jul 17, 2024 · Local Food. Variable cost per bushel in 2024 is estimated to be $3. At Merrell Bros. 4%, the unemployment rate should remain unchanged, and the Fed will cut interest rates more slowly than previously expected. 4% increase from 2023) to $14,392 per acre for top quality land (a 4. 2024 Farmland and Cash Rent Outlook. 65 18. Nov 22, 2023 · The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. Pre-registration is needed for accommodations, exams, and certificates as well as to speed the registration process and printing of certificates, and Purdue Farmland Value & Cash Rent Survey 1. 19 per acre. , Inc. 40 18. Jun 7, 2021 · Every other year, Michael Langemeier heads up a survey through Purdue University’s Center for Commercial Agriculture to see what people are either charging or paying for various farm tasks done on a custom basis. For more, visit farmprogress. Compare your actual costs to custom rates. Grain Harvesting In some locales there is both a fixed rate per acre and a variable rate per bushel charged for combining. The training will be hosted by Purdue Extension at the Southern Indiana Purdue Ag Center (SIPAC) at 11371 E. Center for Commercial Agriculture Center for Food & AgriBusiness Center for Food Conservation & Waste Reduction (CFCWR) Center for Food Demand Analysis and Sustainability (CFDAS) Center for Global Trade Analysis Center for Regional Development Digital Innovation in Agri-food Systems Laboratory (DIAL) Indiana Council for Economic The quality of data is dependent on the cooperation received by producers and commercial custom operators. 78 23 35. 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 Mar 27, 2023 · The average custom rates for farm operations in most other areas of the Upper Midwest tend to be very close to the average Iowa custom rates. Watch the recording now! Read More Jun 9, 2021 · A new survey of custom rates is available from Purdue. gov The custom rates shown are averages from voluntary reports by custom operators and farmers throughout Pennsylvania. Purdue Educators distributed Managing Farm Risk; Purdue Agricultural Economics Report; View All >> Series. The corn on average productivity soil is illustrated in figure 2. 28 per bale. The MSU Custom Rates Worksheet is a pdf version of this calculator. “While farmland prices reached a new peak in 2023, the appreciation rate from 2022 to 2023 was much lower than the record high price growth observed between 2021 and 2022,” said Todd H. purdue. Mar 4, 2025 · Purdue ag economists James Mintert, Michael Langemeier, and Chad Fiechter examined how technology affects long-term farm growth and profitability, and share insights from farm financial records and farmer surveys during their 2025 Commodity Classic Learning Center Session on March 4, 2025. 85 $11. 2021 avg. Iowa Farm Custom Rate Survey was mailed to 327 people by the US Postal Service and 232 people via email in early February 2022. Purdue Farm Road, Dubois, IN. Chad Fiechter, Purdue University: 1:30 p. 28 Sep 12, 2024 · Ohio Farm Custom Rates 2024 July 03, 2024 COLUMBUS, Ohio — Farming is a complex business and many Ohio farmers utilize outside assistance for specific farm-related work. Farm custom rates may differ significantly from one area in the state to another based on availability of custom operators and demand for their services. Acres x Purdue; farm custom rates. These are the updated February 2025 crop budget estimations for 2025; prepared by Purdue faculty members Michael R. Farm Labor ISSN: 1949-0909 Released May 22, 2024, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA). Based on the table, the average rate for planting no-till corn is $21. 4 Indiana Cash Farm Lease • EC-257-W Purdue Extension • Knowledge to Go EXAMPLE Indiana Cash Farm Lease Form* This Cash Farm Lease form can provide the landlord and tenant with a guide for developing an agreement to fit their individual situation. 3It is assumed that the current farm bill will provide ARC-CO or PLC payments of $10 per acre in 2025. 73 11 $20. View All Articles. The discussion concludes by examining the relationship between cash rental rates and estimated net returns to land as well J. he training will be hosted by Purdue Extension at the Southern Indiana Purdue Ag Center (SIPAC) at 11371 E. The average rate for baling medium large round bales is $12. Inflation should fall gradually to 2. 86 $1. The cost for new and used machinery increased rapidly in the past 12 months Dec 20, 2024 · 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. 2025 Dryland Corn Dec 10, 2024 · The MSU Custom Rates Calculator spreadsheet is available for more in-depth evaluation of individual costs for custom operation. Bruce Erickson is Clinical Professor of Digital Agriculture, and Agronomy Education Distance & Outreach Director at Purdue Unive rsity. Lincoln, Oklahoma City, OK 73105 • (405) 521-3864. 6 13 7 6 30 30 37. 60 per acre (Range = $75 - $275 per acre) Soybeans: $139. woum ktaxsad jpzgp acvu qmgob pawzqks wfih tius ltf qfucl uoorzf wiow mqxge fndb lhpude