Nebraska farm real estate value and cash rents higher

Nebraska

Nebraska's farm real estate value rose sharply during 2007, extending a trend that began in 1993, according to the National Agricultural Statistics Service, Nebraska Field Office, Aug. 5.

Farm real estate value on Jan. 1, averaged $1,460 per acre, a record high. This is up $230 per acre or 19 percent higher than last year's level.

Cropland value increased 20 percent from last year to $2,270 per acre, with dryland acreage averaging $1,950 per acre and irrigated cropland at $2,900. Pastureland, at $530 per acre, was 23 percent above a year ago.

Cash rents paid to landlords for cropland increased from last year and were also a new record high. Irrigated cropland rent averaged $155 per acre, an increase of $16. Dryland rent increased to $95 per acre, also up $16 from a year earlier. Pasture rented for cash, which averaged $14.20 per acre, rose $.20 from 2007.

Access the National publications for these releases at: http://usda.mannlib.cornell.edu/usda/current/AgriLandVa/AgriLandVa-08-04-2008.pdf

Find agricultural statistics for your county, state, and the nation at www.nass.usda.gov

8/11/08
4 Star NE\2-B

Date: 8/6/08

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