Nationally, the value of pastureland remained the same as 2009 at $1,070/acre, according to the recent "Land Values and Cash Rents 2010 Summary" from USDA. Regionally, pasture values declined the most in the Southeast region at 5.6% less than 2009. Pasture value increased the most in the Northern Plains region at 3.8% more than 2009.
For comparison, U.S. farm real estate value – a measurement of the value of all land and buildings on farms – averaged $2,140/acre on Jan. 1, 2010, up 1.4% from 2009. Regional changes in the average value of farm real estate ranged from a 4.9% increase in the Northern Plains region to a 3.3% decrease in the Southeast region.
According to the report, pasture rent in the Northern Plains ($15.50/acre) was unchanged from the previous year. Pasture rent increased 10¢ in the Southern Plains ($7/acre), while decreasing 10¢ in the Mountain region ($4.30/acre). The Northern Plains, Southern Plains and Mountain regions account for nearly 83% of the cash rented pasture acreage in the U.S. The cash rent paid for pasture in the Corn Belt region decreased $1.50 to $29.50/acre, the most expensive rent in the nation. The national average pasture rent was $11/acre.
Read the full report at usda.mannlib.cornell.edu/.