The value of all farm real estate in the U.S. rose 9.4% on an annual basis through June, according to USDA's Land Values Report released today. According to the survey, the value of all land and buildings on farms averaged $2,900 an acre versus a revised $2,650 last year. Regional changes in the average value of farm real estate ranged from a 23.1% increase in the Northern Plains region to no change in the Southeast region. The highest farm real estate values were in the Corn Belt region at $6,400 per acre. The Mountain region had the lowest farm real estate value at $1,020 per acre.
The United States cropland value increased by $460 per acre, 13%, to $4,000 per acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 25.0% and 16.1%, respectively, from the previous year. However, in the Southeast region, cropland values decreased by 2.8%.
U.S. pasture values increased 4.3% to an average of $1,200 an acre. The Southeast region had the largest percentage decrease in pasture value, 1.5%, while the Northern Plains had the highest increase at 18.4%.
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