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USDA: Nebraska farm real estate value is up

LINCOLN, Neb. (AP)--The U.S. Department of Agriculture says farm real estate value is up, extending a trend that began in 1993.

Farm real estate value on Jan. 1 averaged $1,340 per acre, a record high. That's up $10 per acre from last year's level. That's according to the USDA's National Agricultural Statistics Service.

Cropland value increased 6 percent from last year to $2,180 per acre. Dryland acreage averaged $1,850 per acre and irrigated cropland averaged $2,700 per acre.

Pastureland, at $450 per acre, declined 6 percent from a year ago.

Cash rents paid to landlords in 2009 for cropland increased from last year and were also a new record high. Irrigated cropland rent averaged $164 per acre, an increase of $6. Dryland rent averaged $100 per acre, up $3 from 2008.

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