(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.

__ Contents of this video: __
00:00 Intro
00:26 Farm Sector Balance Sheet
04:24 National & Regional Farmland Trends
13:54 Indiana Farmland Value Survey & 2024 Findings
19:51 Regional Variations
25:50 Development & Its Impact on Land Values
28:38 Future Projections
45:24 Additional Data & Context
48:53 Conclusion

To learn more about Indiana's 2024 farmland cash rental rates, listen to the second of two podcasts in this series for a wide ranging discussion on cash rent with professors Kuethe, Langemeier and Mintert.

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