Panhandle land values holding strong
Even with softer commodity prices, land values have remained steady into 2014. A report on preliminary findings say farmland land rose about 5 percent in value over the past year. The annual Nebraska Farm Real Estate Market survey report from the University of Nebraska says the value of all farmland in the northwest district averaged $770 an acre, up eight percent.
By category, dryland cropland averaged $730 - $900 an depending on the availability of irrigation, grazing land ranged from $385 to $425 per acre. Hayland average $780 an acre, gravity irrigated farmland averaged $2,835 an acre, while center pivot irrigated cropland averaged $3,700 an acre.
Dryland cropland in the panhandle had the biggest jump increasing 29 percent over the last year.
Cash rental rates for cropland on average declined with lower commodity prices, while pasture and cow-calf rental rates significantly increased due to higher cattle prices.
The figures are preliminary. UNL will release a final report this summer.
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