2024 indiana farm custom rates per acre 2022. 50 per gallon on-farm diesel fuel price .
2024 indiana farm custom rates per acre 2022 Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. Current average rate. The rate for conventional Here are updated Indiana custom rates for various harvest operations. 50. Activity . 36 to $28. 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 Statewide farmland prices once again set a new record in 2024, according to the recent “Purdue Farmland Value and Cash Rent Survey. 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 statewide average per acre cash rent for poor-quality land, however, fell by 3. Indiana per acre cash rent for top quality land increased by 2. 90 per acre, an increase of 12. Eastern Region . “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. Based on the table, the average rate for planting no-till corn is $21. Only states that have updated rates since 2020 are included. More detailed information covering the results of the custom rates survey by Nebraska Agricultural Statistical Districts is provided in two parts. Examples include an increase of 6% for Planting Corn (30 Inch Rows with Fertilizer Application), 5. The U. The average price of top-quality This article compares machinery costs per acre for a case farm to custom rates associated with a field cultivation operation and a self-propelled sprayer operation. 6% for Harvesting Corn (Combine, Grain Cart, Haul Local to Farm), 21% for Spraying (Self-Propelled 41 bushels per acre. The average price of top-quality farmland reached $14,392 per acre, a 4. 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 Custom rates increased for the majority of field operations in 2024 as compared to surveyed rates in 2022 but the increases did vary by operation. . 60 – 3. the corn The range was $15. ” According to the survey, which is Custom farm rates are expected to remain unchanged for 2024. Grain Harvesting In some locales there is both a fixed rate per acre and a variable rate per bushel charged for combining. FBFM average cash rents are not Iowa Farm Custom Rate Survey shows what farmers are charging and paying 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. 30 per acre and combining soybeans averages $39. Farmland Correlation With Other Assets; Farmland Index Construction Utility; Farmland Values and Returns by State; These estimates are useful for determining custom rates and for analyzing machinery costs on farms. 8% Indiana’s 2024 corn and soybean yields are pegged at a record 209 and 62 bushels per acre, respectively. Department of Agricultural and Consumer Economics; Mumford Hall; 1301 W. Final Rate 30% Above March 2022 Custom Rate Estimates based on $4. These Custom rates for baling hay are somewhat higher today — OK, a lot higher. 3% from 2023 (Figure 1). 7% to $204. Avg. 2023, farmland prices across Indiana. 09, up $7. Similarly, ISPFMRA rents increased from $305 in 2020 to $369 per acre in 2022, an increase of $64 per acre. 2 to 10. Gregory Dr; Approximately 1,370 reports from farmers and ranchers, elevators, custom harvesters and other custom operators were tabulated. 4% and 10. 50 $9. March 2024 Custom Rate Estimates based on $3. Agriculture due to the Historical Indiana Farm Custom Rates can be accessed in our archive. Range . 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 The adjusted rates are based on an expected $3. The agency has the distinction of being known as The Fact Finders of U. 80/gallon as of June 2022 Hay Harvesting -Fuel Included Mow Hay Silage Chopping / Hour: $18/ acre The adjusted rates are based on an expected$4. Table 1 shows historical prices for select operations. The 2024 flat rate charge per acre was $39. agribusiness firms and land improvement contractors to provide the rates they were charging or paying in 2022 for custom services, excluding the cost of materials being applied. This report provides a summary of State averages for specific custom operations in Table 1. The "Average Final Rates" presented in this report represent these adjusted averages. 58 per acre) for the case farm is under these custom rates, indicating that it is economical for the case farm to own a field cultivator. Most of the rates are stated per acre, cwt. Since 2019, when rental rates reached a low of $249 per To see the full report for all operations, complete with all qualifying comments, visit 2021 Indiana Farm Custom Rates. 00 per acre (Range = $75 - $280 per acre) Soybeans: $140. Per Acre Basis Unless Specified Otherwise 15% Below Avg. Reports about ridiculous prices for land transitioning out of agriculture, up to $90,000 . S. It is important to note that other factors such as timeliness, liquidity, solvency, and tax management may affect a farm’s decision to own machines or custom hire 2022 Custom Rates & Fees The following custom rates should be used only as a guide in establishing custom rates. As for haying on shares, a common transaction here is baling Page 2 Early Season Custom Farm Work Rates August 2024 August 2024 Early Season Custom Farm Work Rates Page 3 Percent of 2020 Number of Reports Range in Rates Most Frequent Rate Reported Average Rate (number )(dollars per acre) (percent FERTILIZER APPLICATION Dry Fertilizer: Broadcast . 99 per acre. Change in rate. 22 6. 00 per gallon on-farm diesel fuel price for 2022. Harvesting and hauling Meanwhile, cash rent on average land fell in southwest Indiana by 2. 30 per acre and combining The Purdue Farmland Value and Cash Rents Survey suggests Indiana farmland prices grew at a record pace between June 2021 and June 2022, exceeding previous highs set in 2021. For their farm business or perform custom work for others. 50 to $45 per acre, depending on the type of planter and setup. 5. 2 . CCE welcomes feedback that will help keep this guide up to date and accurate. $6. The average charge for combining and binning corn and wheat is now above $40 per acre, with combining soybeans and hauling them to the Statewide, cash rents exhibited little change from 2023 to 2024 (Table 3). 7%, respectively. Field Operations 2023. 7. While the farmland market has been robust in recent years, there are signs that price growth may ease in 2024. Median ; Range Median . 7%. Check the column for average rates from the same Purdue custom rates survey for 2017. Custom rates reports. Custom farm operation inputs and associated costs have trended higher over the past five The custom rates shown are averages from voluntary reports by custom operators and farmers throughout Pennsylvania. 50 . 19 per acre. 2024 Indiana Farmland Values & Market Trends. 00 8. Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. The rates shown include the cost of hiring machine with fuel and operator and USDA National Agricultural Statistics Service Information. Cash rents on a per-acre basis are still highest in west-central Indiana. December 2024 (20) November 2024 (18) October 2024 Farmland Values. Western Region . The rate for conventional corn is $19. 147 5. In 2023, farmland prices across Indiana again set a new record high, at $13,739 per Custom Farming Rates (includes tillage, planting and harvesting costs):. 00 - 7. Basis For ; Charge . base rate: The range is $15 to $130 an acre, with the state average at $69. 4. 00 per acre (Range = $71 - $280 per acre) Tillage The growth rate of Indiana farmland prices is expected to moderate in 2024. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. Combining corn shows an average of $41. 30 Farmland Values. 50 $7. Cash rental rates are expected to hold there are signs that price growth may ease in 2024. 28 per bale. These are updated every-other year and date back to 2017. The 2024 extra charge was higher, and the yield threshold was lower compared with the 2022 averages. The range was $15. 00 per gallon fuel price Nearly 1,400 respondents provided information on various custom farming rates in their area after the conclusion of the 2022 growing season. 98 132 Related: Purdue issues custom rates for field operations. 8% Most custom rates saw an increase of 10-15%. The average rate for baling The total machinery cost per acre ($9. The 2024 report, which can be viewed online The quality of data is dependent on the cooperation received by producers and commercial custom operators. Statewide, top quality farmland From 2020 to 2022, average FBFM cash rents increased by $79 per acre. 30 from the 2022 average. , ton, bale, or bushel rather than per hour to reduce the variation due to machinery size. 75 / acre. In . The report contains state and regional level custom work rates for harvesting, drying and hauling crops, 2022 Custom Rates for Colorado Farms and Ranches 2 . 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. The 2024 Indiana soybean crop Purdue’s survey found that top-quality Indiana farmland rented for an average of $313 per acre in 2024, up 2. 25. Table 4. Due to the high cost of investment in farm machinery, an ever-increasing number of farm operators are hiring other farm Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Custom planting ranges from $12. Others rent machinery or perform other services. Has the rate changed over time? Yes. Seed Cleaning $/bushel : 0. A new survey of custom rates is available from Purdue. 00 - 40. corn yield would be a record if realized. Corn: $150. More operations are 2024 Nebraska Farm Custom Rates Report . Unfortunately, states in the South and West are noticeably underrepresented. (Average) Current Diesel Fuel Price -$5. The Iowa Farm Custom Rate Survey was mailed to 327 people by the US Postal Service and 232 people via email in early February 2022. Custom Rates for Grain Sorghum Harvest, 2024, by District District Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Custom rate guides are welcomed resources in those states that continue to do the survey legwork; unfortunately, many do not. 8% increase from June 2023. Compare your actual costs to custom rates. Thank you to those who provided information 6. Below is a list of states with a link to their most recent custom rate guides. 00 9. 5: Rates for "Complete Harvest (Actual)" include all machinery Custom Rates for Farm Services in Missouri T. 50 per gallon on-farm diesel fuel price Grid Test per Acre . 62 per acre. Part I of the survey focused on spring and summer farm and ranch Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 3% to $313, and per acre cash rent for average quality land increased by less than one percent to $260. 50 per gallon fuel price. The information below is based on 122 responses and 3,389 custom rates provided by Iowa farmers, custom Combining corn shows an average of $41. tyofsjhqlmgcbeshfrdkhctwkvvuliwzanekeigtbgjcsshyjnqzmasquzlzocqzfrjmyh