Ag Land Values Rising
If you own a farm or ranch, you have a few acres on your hands. The value of that property is pretty important.
Recently, the USDA took a look at the value of agricultural lands, and they have revealed a year-over-year rise in average value.
The USDA's Rod Bain says: the U.S. farm real estate value averaged $3,160 per acre, which includes the value of all the land and buildings on farms. That's a rise of $60 per acre, or 1.9 percent, over 2018. The U.S. cropland value averaged $4,100 per acre, $50 per acre higher over the previous year, or a jump of 1.2 percent.
So, yes... farm values are going up.
However, the American Farm Bureau Federation says that's not entirely the case. They notes in their own Market Intel analysis that land values and farm rents have gone in the opposite direction in certain parts of the country.
In the Midwest, a prolonged downturn in crop and livestock prices has reduced net cash income.