(Part 1) 2024 Indiana Farmland Values & Market Trends

Purdue Commercial AgCast

Join Purdue ag economists Todd Kuethe, Michael Langemeier and James Mintert as they discuss Indiana farmland values on this, the first of two episodes reviewing the 2024 Purdue Farmland Values and Cash Rents Survey results. Each June, the department of agricultural economics surveys knowledgeable professionals regarding Indiana's farmland and cash rental market. The 2024 survey results confirmed that the average value for Indiana farmland hit a new record high this summer. A number of forces, such as high interest rates and lower farm incomes, are placing downward pressure on prices, but the limited supply of land is keeping prices firm. The 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. Gain an in-depth understanding of trends, market dynamics, and future expectations for farmland values.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast173.

You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/pMzDTXAJhFA to subscribe and watch.

For the full August Purdue Agricultural Economics Report, visit: https://purdue.ag/paer.

A second podcast on Indiana's 2024 farmland cash rental rates will be released later this month with discussion on cash rent with professors Kuethe, Langemeier and Mintert.

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