If you have a bit of extra pasture to rent out, or are looking for some extra pasture to graze, where's the best place to start when negotiating a rental?
High grain prices of years past have kept pasture land in short supply and raised rent prices for some beef producers. However, it may be time to negotiate, says a Michigan State University (MSU) Extension specialist – commodity trends show easing prices into the new year.
Pasture values generally tend to follow cattle and corn prices over time, and even though pressure may still be on grazing lands in the short term as livestock producers look to expand or find new grazing opportunities, it appears cattle and corn prices are headed back to a "new normal."
Following those prices and local land rent for cropping systems will help determine pasture prices in your region, says Kevin Gould of MSU Extension.
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