Fire departments were alerted of the fire at 4:12 p.m. and firefighters hurried to rescue and release livestock in the barn.
A trailer that was backed up to the barn was also heavily damaged by the blaze.
Damages are estimated at $50,000.
Those on the scene were Greencastle Fire Department, Madison Township Fire Department, Cloverdale Fire Department, Bainbridge Fire Department, Reelsville Fire Department, Operation Life and the Putnam County Sheriffs Department.
Fillmore Fire Department was also dispatched to cover Greencastle's firehouse.
The cause of the fire is unknown at this point. It appears to be accidental, although a malfunction by a tank water heater has not been ruled out.
Greencastle Fire Chief Bill Newgent said he spoke with Kim Duell before leaving the scene, and all livestock appeared to be safe and accounted for.