Farmland prices up in Utah, NASS says
Average farm real estate values, a measurement of the value of all land and buildings on farms, in Utah at $1,900 per acre was up 5.6 percent compared to 2012, according to the National Agricultural Statistics Service, Utah Field Office.
Cropland in Utah averaged a value of $2,820 per acre in 2013, an increase of 4.8 percent from 2012. Irrigated cropland in the State was valued at an average of $5,200 per acre, up 4 percent from 2012 while non-irrigated cropland was valued at an average of $1,100 per acre, a rise of 6.8 percent from the year before.
Utah pasture land in 2013 was valued at an average of $950 per acre, an increase of 3.3 percent from 2012.
Nationally, farm real estate value averaged $2,900 per acre for 2013, up 9.4 percent from revised 2012 values. Regional changes in the average value of farm real estate ranged from a 23.1 percent increase in the Northern Plains region to no change in the Southeast region. The highest farm real estate values were in the Cornbelt region at $6,400 per acre. The Mountain region had the lowest farm real estate value at $1,020 per acre.
The United States cropland values increased by $460 per acre (13.0 percent) to $4,000 per acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 25.0 and 16.1 percent, respectively, from the previous year. However, in the Southeast region, cropland values decreased by 2.8 percent.
The United States pasture value increased to $1,200 per acre, or 4.3 percent above 2012. The Southeast region had the largest percentage decrease in pasture value, 1.5 percent below 2012. The Northern Plains had the highest increase at 18.4 percent.
The full report is available on-line at http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1446 or call Joel Gentillon or John Hilton at 1(800)747-8522.