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NEBRASKA FARMLAND UP 5% OVER PRIOR YEAR
BrownfieldAgNews reports:

That's according to the annual February 1st survey of agland values by the University of Nebraska-Lincoln's Department of Ag Economics. Research analyst Jim Jansen says the rapid rates of increase in land prices have slowed considerably.

"In comparison to other years, this is a more gradual or kind of steady increase versus some of the extreme increases we'd seen in the prior two to three years-where the increases for the state on average came in around 20 to 30 percent," Jansen says.

The survey showed irrigated cropland increased four percent with center pivot irrigated land averaging just over 7,700 dollars per acre. Non-irrigated cropland rose seven percent and averaged 3,600 dollars per acre.

The survey also showed an overall eight percent increase in the value of pasture and rangeland. "We've seen very strong increases in the western two-thirds, where we had preliminary findings released for the range ground," Jansen says, "and that falls in line probably with many industry participants with record high beef prices."

Jansen looks for agland values to remain fairly steady in the coming months, depending on weather and commodity prices.


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