Date of this Version
Cornhusker Economics (March 19, 2014)
Even with the strong increases in farmland values over the past several years and the reduction in commodity prices experienced during 2013, agricultural land markets in Nebraska remained steady early in 2014. Preliminary findings from the University of Nebraska–Lincoln 2014 Nebraska Farm Real Estate Market Survey indicate as of February 1, 2014, the weighted average farmland value rose by about five percent over the prior 12-month period, to $3,195 per acre (Figure 1 on next page and Table 1 on page 3). Surveyed 2014 cash rental rates for cropland, on average declined with lower commodity prices, while pasture and cow-calf pair rental rates significantly increased. This was due to higher beef cattle prices, the lingering effects of the drought and the conversion of some marginal land to crop production (Table 2 on page 4).