The value of Nebraska cropland rose 38% to 41% for the year ending September 30, reports a survey conducted by the Federal Reserve Bank of Kansas City. The value of Nebraska ranchland rose 26% during the same period, the report says.
The Nebraska figures are part of the overall figures listed in the bank's report, which says the value of dryland cropland within the district rose 25% while the value of irrigated cropland gained 30%. Ranchland values rose 14% across the bank's district. The Kansas City Fed bank serves Kansas, northwest Missouri, Nebraska, Oklahoma and the Mountain States of Colorado, Wyoming and northern New Mexico.
The report also indicated a quarter of surgey respondents thought cropland values had yet to peak.
While all areas reported gains, the Nebraska figures stand out. Meanwhile, Kansas reported a 20% rise in dryland cropland, a 15% gain in irrigated cropland and 12% increase in ranchland values. Northwest Missouri reports a 13% increase in cropland (no irrigated values reported) and an 11% increase in the value of ranch/pasture land. Oklahoma lists of gain of 11% in the value of cropland (no irrigated values reported) and a 5% rise in the value of ranchland. The Mountain states reporta an increase of 12% in the value of dryland cropland, a 13% rise in the value of irrigated cropland and a 10% gain the value of ranchland.
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