Nebraska Farmland Markets Plateau

Authors

Bruce B. Johnson, University of Nebraska-LincolnFollow
Ryan Lukassen, University of Nebraska-Lincoln

Date of this Version

3-25-2009

Document Type

Article

Comments

Published by the Department of Agricultural Economics, University of Nebraska – Lincoln. Copyright 2009 Regents of the University of Nebraska.

Abstract

After several years of successively rising land values and cash rents, Nebraska’s farmland markets throttled back during 2008. Preliminary results from the University of Nebraska-Lincoln’s 2009 Nebraska Farm Real Estate Market Survey show a clear picture of the market mood turning very cautious in response to the U.S. and global economic downturns. As of February 1, 2009, the weighted average value of Nebraska farmland was $1,424 per acre, identical to the year-earlier level (Figure 1 and Table 1 at end of article). Likewise, estimated 2009 cash rents are stable to slightly down from 2008 levels throughout most of the state.