Survey: Indiana Farmland Values Rise

Posted: Updated:
WEST LAFAYETTE -

A survey published earlier this month in the Purdue Agricultural Economics Report shows farmland values and cash rents throughout the state rose slightly this year. Purdue Agricultural Economics Professor Craig Dobbins says the June 2018 Purdue Land Value Survey aims to give people an idea of what is happening in the farmland market.

The survey examines trends in farmland values and cash rents, while detailing factors impacting those prices. The survey says top quality, average quality, and poor quality farmland increased in value from last year by 1.6 percent, 2.1 percent, and 2.4 percent, respectively. Top quality farmland has an average value of $8,668 per acre, with average quality farmland at $7,072 and poor quality farmland at $5,407.

The report says the amount of farmland on the market and the rate of inflation are the two market factors positively influencing the cost of farmland. Some of the factors negatively influencing costs are crop and livestock prices, interest rates, and agricultural policy.

Dobbins adds recent changes to trade and tariff policy in the U.S. is making it more difficult to predict how certain agricultural economic factors are going to impact land values in the future.

"Production agriculture is always risky, but it has gotten really risky given the current events taking place," said Dobbins. "Production agriculture is highly dependent on export markets. To get a change in policy to one that is erecting barriers rather than reducing barriers is really a shift,” Dobbins said.

You can view the full report below:

  • Perspectives

    • Planning For Expansion or Relocation in 2019?

      Given the strength of today’s economy, business relocations and expansions that were once few and far between are now much more common. Businesses considering significant investments or relocations in 2019 will consider the cost and availability of workforce, logistics, cost of short- and long-term occupancy, and much more when looking for the ideal project site. There needs to be a good community fit as well. While these are all critically important factors to the success of a...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Indy Airport to Introduce New Airline

      Indianapolis International Airport will today host an event to welcome a new airline. Airport officials say the provider will add more routes to IND's growing roster of options. Earlier this month, the airport reported record-breaking traffic in the third quarter. IND said the more than 2.4 million passengers that passed through the airport in the third quarter of 2018 marked an 8 percent year-to-date increase over last year and the best third quarter in the facility's history.

    • IND Adds New Airline, Nonstop Routes

      A Florida-based airline, billing itself as an "ultra low-cost carrier," is coming to Indianapolis International Airport. Spirit Airlines Inc. (NYSE: SAVE) will begin daily, nonstop service to Las Vegas and Orlando in March, and add summer seasonal nonstop service to Myrtle Beach in May. Vice President For Capacity Planning Mark Kopczak says the airline sees "real potential for growth" in those routes, adding IND has done a good job "selling Indy as a place...

    • Stellar Communities Winners Unveiled

      Lieutenant Governor Suzanne Crouch has unveiled the two winners of the 2018 Stellar Community designation. The regions selected for the designation will receive state funding to implement the revitalization plans submitted for their communities. This is the first year the designation has been awarded on a regional basis. Each region will receive $4.5 million from the Indiana Office of Community and Rural Affairs, $2 million from the Indiana Department of Transportation and...

    • National FFA Convention to Stay in Indy

      One of the state's largest conventions will remain in Indianapolis. The National FFA Organization has announced Indy will continue to host the National FFA Convention & Expo through 2031. The announcement comes two months after the organization set a new attendance record at the 2018 convention, which drew 69,944 people. The event had an estimated economic impact of $39.8 million for the city. The organization has previously committed to hold the event...

    • Indiana Companies Among 'Just 100'

      Three Indiana-based companies are including in Forbes' 2019 "Just 100" list. The ranking, according to the publication, features companies that are "taking the public interest into their own hands and generating better returns for themselves and society in the process."