The value of agricultural lands have increased nationwide this year. USDA Chief Economist Seth Meyer said when looking at year-over-year numbers, “You see you’re at 7% for all of it and you’re closer to 8% for the crop land.”
And close to 6% increase in pastureland value for from 2020, this reflects,”
Particularly commodities like corn, soybeans, hogs, and to a lesser extend, cattle.
In addition, producer optimism about returns on land going forward, also drove the rise in AG land values.
“That 7% is a big number and we last saw that increase back in 2013-14 and seeing those kinds of increase in 13-14 we were kind of hitting some of those higher prices. Now we’ve seen land values with a pretty substantial increase year-over-year for ’21.”
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