Lincoln, NE — The market value of land in Nebraska has decreased by 2% for the first time in six years, according to a survey conducted by the University of Nebraska-Lincoln (UNL). The annual survey assesses the current state of the market, land values and cash rental rates.
Jim Jansen from the Center of Agricultural Profitability explained that market value is the amount people are willing to sell or buy land for. “Now inside that, there are different types of land. You have crop land, you have graze land, you have hay land. Surrounding all these different types of land we’ve seen the crop land was down a little more than 2% while the grazing and hay land were up anywhere from 1-5%,” he said.
Jansen noted that market value is typically a cornerstone of ranchers’ equity and wealth, reflecting Nebraska’s economy. “The margins for crop producers are probably a little bit higher this year than they have been in the last several years. The expectation for profitability on cow cap or livestock producers may be a little bit higher or a little bit better than what they’ve been in the last several years,” he said…