Ag land values are holding constant across the country, according to USDA Deputy Chief Economist Cindy Nickerson.
Ag land values may be steady nationwide, but that’s not the case in Kansas. In all three categories referenced in the USDA report, Kansas is below the national average and those values are falling.
Kansas farm real estate value is currently $1,900 an acre on average, down from the $3,160 national average and down 3.1 percent from 2019. Cropland value in Kansas, irrigated and non-irrigated both included, is almost $2,100 an acre, barely half the national average of $4,100 an acre and down 3.7 percent. Pasture value is $1,370 an acre, just under the national average of $1,400 an acre and down 1.4 percent from last year.
Nickerson says ag land offers a different barometer on financial conditions than commodities do.
