NE Farm Real Estate Values Down 3 Percent from 2015; Cash Rents Also Down
Nebraska’s farm real estate value, a measurement of the value of all land and buildings on farms, decreased approximately 3% from 2015, according to USDA’s National Agricultural Statistics Service. Farm real estate value for 2016 averaged $2,950 per acre, which is down $100 per acre or 3% lower than last year.
Cropland value decreased 4% from last year to $4,850 per acre. Dryland cropland value averaged $3,800 per acre, down $170 from last year. Irrigated cropland value averaged $6,560 per acre, down $310 from a year ago. Pastureland, at $910 per acre, increased $40 from a year ago.
Cash rents paid to landlords in 2016 for cropland decreased from last year. Irrigated cropland rent averaged $243 per acre, a decrease of $11 from last year. Dryland cropland rent averaged $150 per acre, down $10 from a year earlier. Pasture rented for cash, averaged $24 per acre, down $4.50 from the previous year.
County level averages of 2016 cash rents paid to landlords will be released on September 9, 2016 and will be available through NASS Quick Stats located at http://quickstats.nass.usda.gov/.
The national report is available at http://usda.mannlib.cornell.edu/usda/nass/AgriLandVa//2010s/2016/AgriLandVa-08-05-2016.pdf