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Mike Walsten has covered major business trends in agriculture for more than 40 years.
The value of South Dakota agricultural land rose 16.5% in 2010 reports the annual South Dakota State University Farm Real Estate Market Survey. The surge is the third highest annual rate of increase since 1991, say report authors Dr. Larry Janssen and Dr. Burton Pflueger. From 2001 to 2008, ag land values in the state rose more than 10% each year, including more than 20% in two years (2004 - 2005 and 2007 - 2008). From 1991 to 2000 and from 2008 to 2010, annual increases varied from 4% to 9%.
The survye found the value of cropland posted the strongest percentage increase, which increased statewide by 17.7% compared to increases of 15.2% for hayland and 13.1% for rangeland. The strongest increase in land values (about 15% for most land uses) occured in the east central, southeast and south central region.
Click here for the full report.
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