Agriculture land values rose in Nebraska last year, but didn’t make the dramatic jump that they have made the past couple of years.
According to the annual February 1st survey of agricultural land values by the University of Nebraska-Lincoln’s Department of Ag Economics, agriculture value in Nebraska rose an average of 5% in 2013.
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 steady increase versus some of the extreme increases we have seen in the prior two to three years where the increases for the state on average came in around 20 to 30%,” Jansen tells Brownfield Ag News.
The value of irrigated cropland rose four percent to an average of slightly more than $7,700 per acre. Non-irrigated cropland rose seven percent to an average of $3,600 an acre.
Jansen says that pasture and rangeland rose by eight percent.
“We’ve seen very strong increases in the western two-thirds (of the state) where we had preliminary findings released for the range ground and that holds in line with probably many industry participants with record high beef prices and things along those lines,” Jansen says.
Ken Anderson, Brownfield Ag News, contributed to this story.