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USDA: farm land values rise
The USDA’s farm land values survey shows an increase from 2018 to 2019. The survey, conducted during the first two weeks of June, had farm real estate values at an average of $3,160 per acre, up $60 from 2018, with crop land at $4,100, $50 higher, and pasture at $1,400, a gain of $30. Illinois had the highest real estate and crop land values in the Midwest and Plains, followed by Iowa, and Ohio had the highest pasture value for the region, ahead of Illinois. The top valued states in all categories fell outside of the region, generally going to either smaller states in the Mid-Atlantic and New England regions, or California.
Values and comparisons for Brownfield states:
Arkansas: Farm Land: $3,100, up $100; Crop Land: $2,850, up $70; Irrigated: $3,340, up $50; Non-irrigated: $2,060, up $70; Pasture: $2,610, up $80; Farm Land and Buildings: $43,924, up $695
Illinois: Farm Land: $7,280, unchanged; Crop Land: $7,300, up $20; Pasture: $3,170, down $30; Farm Land and Buildings: $196,560, up $3,240
Indiana: Farm Land: $6,580, unchanged; Crop Land: $6,210, unchanged; Pasture: $2,450, up $20; Farm Land and Buildings: $98,700, unchanged
Iowa: Farm Land: $7,190, down $80; Crop Land: $7,260, down $30; Pasture: $2,720, down $70; Farm Land and Buildings: $222,462, down $2,448
Michigan: Farm Land: $4,960 unchanged; Crop Land: $4,500, down $10; Pasture: $2,590, down $10; Farm Land and Buildings: $48,608, up $196
Minnesota: Farm Land: $4,840, down $10; Crop Land: $4,810, down $140; Pasture: $1,700, down $50; Farm Land and Buildings: $123,675, down $510
Missouri: Farm Land: $3,400, up $20; Crop Land: $3,490, unchanged; Irrigated: $4,770, unchanged; Non-irrigated: $3,350, down $30; Pasture: $1,980, up $60; Farm Land and Buildings: $93,626, up $6,890
Nebraska: Farm Land: $2,850, up $100; Crop Land: $4,390, up $10; Irrigated: $5,850, down $80; Non-irrigated: $3,490, up $60; Pasture: $1,050, up $75; Farm Land and Buildings: $123,750, down $3,150
Ohio: Farm Land: $6,290, up $90; Crop Land: $6,400, up $80; Pasture: $3,350, down $20; Farm Land and Buildings: $86,180, up $2,040
South Dakota: Farm Land: $2,070, unchanged; Crop Land: $3,130, up $10; Irrigated: NOT REPORTED DUE TO CONFIDENTIALITY; Non-irrigated: $3,100, unchanged; Pasture: $1,050, up $10; Farm Land and Buildings: $89,424, down $1,296
Tennessee: Farm Land: $3,990, up $70; Crop Land: $3,910, up $80; Pasture: $3,860, down $10; Farm Land and Buildings: $42,728, up $872
Wisconsin: Farm Land: $4,950, up $50; Crop Land: $4,850, up $110; Pasture: $2,310, up $50; Farm Land and Buildings: $70,070, up $429
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