USDA Numbers See Big Increase In Farmland Values

(Ames, IA) — Survey information released from the U-S-D-A shows a big increase in farmland values and cash rent. Iowa State University livestock economist, Lee Schulz, says the cropland increased 19-point-seven percent, “the highest that we’ve seen since 2011 and 2012.” Pastureland values are up a little over nine percent,” he says.  Schulz says high commodity prices are one of the big drivers of land values, along with rising interest rates. He also says as the commodity prices rise, there’s competition for that land among prospective buyers.