A report on preliminary survey findings shows the average value of Nebraska's agricultural land dropped about 4 percent over the past year — the second decline in as many years.
The University of Nebraska-Lincoln survey report says that as of Feb. 1, the statewide land value was $3,135 an acre on average, compared with $3,250 a year earlier and $3,416 in 2014. The decline comes as producers face lower prices for crops and livestock.
Rental rates for dryland and irrigated cropland declined 5 to 10 percent across the state.
Survey respondents included real estate salespeople and brokers, appraisers, bankers and mortgage experts.