Date of this Version
The Department of Agricultural Economics, UNL has conducted a state-wide study of agricultural land markets each year for the past 33 years. The state is richly endowed with productive agricultural land, which results in Nebraska ranking among the top five states in agricultural production. A primary aspect of the UNL land market series is an annual land market panel survey conducted February 1 of each year. In the 2011 survey, some 130 panel reporters from across the state provided their professional insight into the dynamics of the agricultural land markets in their areas of the state. These individuals are closely associated with the land markets through their professions as agricultural real estate appraisers, professional farm managers, agricultural lenders, etc. Moreover, continuity of the survey is maintained over the years as the vast majority of reporters have responded annually for a number of years. The reporters provide point-in-time estimates of current agricultural land values and cash rents as well as more detailed information of actual agricultural real estate sales that have occurred over the previous year. Comparing these current measures against previous years’ results provide valuable trend indicators of this dynamic market. The historical UNL data series for agricultural values going back to 1978 and agricultural cash rents back to 1981 are included in the appendix.