The National Agricultural Statistical Service (NASS) of the USDA released their annual farmland value survey. Overall, the report indicated US Farmland values increased 8.1% since 2013. Arkansas Irrigated cropland increased 7.5% while Non-Irrigated cropland increased 4.5%. Mississippi Irrigated and Non-irrigated cropland increased 6.2% and 2.6%, respectively on average. Missouri Irrigated and Non-irrigated cropland increased 14.7% and 8.1%, respectively on average.
Land prices remain strong but the NASS indicates growth is slowing as the percentage increase for Delta Irrigated and Non-Irrigated land slowed. Other reports like the Mid-South/Southeast Farmland Market Trends by Farmland Investor Center report land prices have continued to increase in the first half of 2014.
Terry Griffin, Ph.D. has built a tableau with the USDA land prices for each state over time. This data provides a neat graphical display of land prices. Check out his website here.
To view the entire NASS 2014 Land Values report click the link below.
By Jeffrey Hignight, Accredited Farm Manager and Real Estate Broker at Glaub Farm Management. Serving Landowners in Arkansas, Mississippi, Missouri, and Tennessee.