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U.S.' FARMLAND VALUE ROSE 9.4% LAST YEAR
Aug. 6, 2013
BrownfieldAgNews reports:
U.S. farm real estate, all land and buildings on farms, averaged $2,900 per acre for 2013 up 9.4 percent from 2012.
Regional changes in the average value of farm real estate ranged from a 23.1 percent increase in the Northern Plains region to no change in the Southeast region. The highest farm real estate values were in the Cornbelt region at $6,400 per acre. The Mountain region had the lowest farm real estate value at $1,020 per acre.
Cropland value increased by 13.0 percent to $4,000 per acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 25.0 and 16.1 percent, respectively, from the previous year. However, in the Southeast region, cropland values decreased by 2.8 percent.
The value of pastureland in the U.S. increased to $1,200 per acre, or 4.3 percent above 2012. The Southeast region had the largest percentage decrease in pasture value, 1.5 percent below 2012. The Northern Plains had the highest increase at 18.4 percent.
New Jersey has the highest farm real estate value, $12,700 per acre, highest cropland value at $12,800 and highest pasture at $13,400.
Read the full NASS report here.
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