Land Value and Cash Rent USDA NASS Report
Amy Timmerman - Extension Educator
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03/13/2025
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Today we are going to discuss the survey findings from the USDA-National Agricultural Statistics Service (USDA-NASS) reports on land values and county-level cash rent.
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- [00:00:00.460]This weeks extension update is from Amy Timmerman,
- [00:00:03.420]Cropping and water educator based out of Holt and Boyd Counties.
- [00:00:07.420]Today we are going to discuss the survey findings from the
- [00:00:10.520]USDA-National Agricultural Statistics Service or better known as USDA-NASS
- [00:00:17.420]reports on land values and county-level cash rent.
- [00:00:21.060]Nebraska ranks 13th for the percentage increase in farm real estate which
- [00:00:26.040]includes all agricultural land and buildings compared to other states
- [00:00:30.500]in 2024 with an increase of 6.8% or an average of $4,080 per acre.
- [00:00:39.273]Cropland values in Nebraska reported an
- [00:00:43.126]increase of 6.3% to an average of $6,540 per acre.
- [00:00:50.060]Demand for cropland remained steady but had slowed due to
- [00:00:53.822]moderating commodity prices and increasing production costs.
- [00:00:58.123]Monetary policies kept the cost of financing land purchases
- [00:01:02.123]high during 2024 as the Federal Reserve maintained
- [00:01:05.343]measures to combat inflationary pressures.
- [00:01:08.963]High interest rates and expenses for specific inputs, coupled with
- [00:01:12.963]moderating commodity prices, may negatively impact
- [00:01:16.603]future cropland values unless offset by rising farm profitability.
- [00:01:22.023]In 2024, higher cattle prices raised the value of pasture
- [00:01:27.283]more than that of cropland throughout Nebraska.
- [00:01:30.608]Year-over-year pasture gained 7.7% to a
- [00:01:34.608]new average of $1,400 per acre in Nebraska.
- [00:01:38.808]Cattle prices increased due to strong demand and
- [00:01:42.528]lower livestock inventories across the United States.
- [00:01:45.720]Hay prices generally trended lower across the state as adequate
- [00:01:49.240]precipitation in major hay-producing regions led to good forage production.
- [00:01:54.148]Higher cattle prices and reduced feed costs improved
- [00:01:57.148]the financial outlook for many livestock producers.
- [00:01:59.788]Concerns persist about sufficient rainfall for pastures and
- [00:02:03.348]the economic impact this may have on producers.
- [00:02:07.220]The USDA-NASS also reported county-level cash rent
- [00:02:10.880]estimates for the 2024 growing season in Nebraska.
- [00:02:14.880]These estimates provide cash rent averages for both non-irrigated
- [00:02:18.940]and irrigated cropland, as well as pasture, on a per-acre basis.
- [00:02:24.380]Variations in non-irrigated cropland rental rates across Nebraska
- [00:02:28.496]are due to differences in soil type, rainfall, yield expectations, and
- [00:02:32.763]the overall market competitiveness among different counties.
- [00:02:36.917]Non-irrigated rental rates for our area Boyd County was $113.00 per acre,
- [00:02:44.400]Holt County was $90.50 per acre, Knox County $212.00
- [00:02:51.840]and Rock County was $49.00.
- [00:02:54.943]Trends in irrigated cash rental rates for 2024
- [00:02:58.423]reflect those of non-irrigated cropland.
- [00:03:01.063]The reported irrigated cash rental rates do not differentiate
- [00:03:04.443]between center pivot, gravity, or flood irrigated acres.
- [00:03:08.123]The average reflects a weighted calculation of the county's
- [00:03:11.923]center pivot, gravity, and flood irrigation methods.
- [00:03:14.983]Additionally, the reported rates assume that the landlord
- [00:03:18.543]owns the entire irrigation system on the leased property.
- [00:03:21.563]Rates may be adjusted if the tenant provides the pivot,
- [00:03:24.740]power unit, or other irrigation system components.
- [00:03:28.414]Irrigated rental rates per acre for Brown County was $176.00,
- [00:03:34.514]Cherry was $177.00, Holt County was $272.00,
- [00:03:41.720]Keya Paha County was 197.00, Knox County was $310.00,
- [00:03:48.000]Rock County was $196.00 and Wheeler County was $242.00.
- [00:03:54.180]Nebraska's pasture land rental rates reflect differences
- [00:03:58.180]in stocking rates, productivity, and market competitiveness.
- [00:04:02.160]The reported rates indicate the amounts paid during the summer months.
- [00:04:06.860]Off-season grazing rental rates may be adjusted based on forage dormancy,
- [00:04:11.400]quality, or other property features in the fall, winter, or spring calving season.
- [00:04:16.480]This off-season period can also be influenced
- [00:04:19.060]by winter snowfall or other weather conditions.
- [00:04:22.360]Pasture rental rates per acre for Brown County was $28.50,
- [00:04:28.826]Boyd County was $37.50, Cherry County was $15.50,
- [00:04:36.320]Holt County was $39.00, Rock County was $32.00
- [00:04:41.440]and Wheeler County was $36.00.
- [00:04:44.880]Additional details on the USDA-NASS
- [00:04:48.260]land values and cash rental publications
- [00:04:50.680]may be found at the full article at cap.unl.edu.
- [00:04:56.180]This has been Amy Timmerman with Nebraska Extension.
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