Crop prices are at uncomfortable lows, but ag land values continue to make moves upward.
Economists at the Farm Bureau found ag land values went up $200 an acre last year, which is a 5 percent jump, landing at $4,170 an acre. This comes after a nearly 7 percent jump between 2022 and 2023.
Cash rent values were up 3.2 percent, coming in at a record $160 per acre. Pastureland went up to $15.50 per acre.
Despite the jumps, the rate of growth has slowed compared to recent years.
