USDA's 2009 Land Values & Cash Rents Summary
Farm real estate and cropland values declined for the first time since 1987, while cropland cash rents continued to increase. U.S. farmland averaged $2,100 per acre on Jan. 1, down 3.2% from the prior year. On the other hand, cash rent values rose by 5.3% nationally.
Cropland values varied by region. In the Midwest; Illinois, Indiana, Iowa, and Missouri displayed declines of -3.7%, -4.6%, -4.9% and -5.6% respectively. In Nebraska and Wisconsin, cropland increased in value by 6.3% and 1.4% respectively. South Dakota cropland values were unchanged.
While land values decreased, cash rents increased during the past year. The US average cash rent on cropland rose from $85.50 to $90.00. Iowa, Illinois, and Indiana continue to produce the highest cash rents in the Midwest at $180, $170, and $141 respectively.
"The contraction in the overall economy has caused less commercial and residential development in many regions," the USDA report said. "Livestock and crop commodity prices have declined from a year earlier, thus producers and investors are less optimistic than a year ago."
- Colvin
Cropland values varied by region. In the Midwest; Illinois, Indiana, Iowa, and Missouri displayed declines of -3.7%, -4.6%, -4.9% and -5.6% respectively. In Nebraska and Wisconsin, cropland increased in value by 6.3% and 1.4% respectively. South Dakota cropland values were unchanged.
While land values decreased, cash rents increased during the past year. The US average cash rent on cropland rose from $85.50 to $90.00. Iowa, Illinois, and Indiana continue to produce the highest cash rents in the Midwest at $180, $170, and $141 respectively.
"The contraction in the overall economy has caused less commercial and residential development in many regions," the USDA report said. "Livestock and crop commodity prices have declined from a year earlier, thus producers and investors are less optimistic than a year ago."
- Colvin
Posted by Colvin & Co. at 8/5/2009 12:24 PM 
Categories: Farmland
Tags: Wisconsin USDA farmland South Dakota
Categories: Farmland
Tags: Wisconsin USDA farmland South Dakota
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