Minnesota Crop Land Values Up Nearly 25%

Minnesota Crop Land Values Up Nearly 25%

Average cropland value went up to $4,050 per acre while pasture land increased 7% to $1,500 per acre.

The January 1, 2012, Minnesota farm real estate value, including all land and buildings, averaged $4,050 per acre, up $700 from 2011, and up $1,060 from 2010.

Minnesota cropland value increased 24.6%, to $4,050 per acre, and pasture value, at $1,500 per acre, increased 7.1 percent from 2011.

Minnesota Crop Land Values Up Nearly 25%

Across the United States, farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,650 per acre for 2012, up 11% from revised 2011 values. Regional changes in the average value of farm real estate ranged from a 27% increase in the Northern Plains region to a 4% decline in the Southeast region. The highest farm real estate values were in the Cornbelt region at $5,560 per acre. The Mountain region had the lowest farm real estate value at $974 per acre.

The U.S. cropland value increased by $450 per acre (14.5%) to $3,550 per acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 30% and 18.5%, respectively, from the previous year. However, in the Southeast region, cropland values decreased by 4%.

The U.S. pasture value increased to $1,150 per acre, or 4.5% above 2011. The Southeast region had the largest percentage decrease in pasture value, 7% below 2011. The Northern Plains had the highest increase at 22%.

State egg production for July was up slightly.

Minnesota layers produced 241 million eggs during July 2012, versus 239 million in July 2011, a slight increase over a year ago. Laying flocks in the U.S. produced 7.73 billion eggs down slightly from last year.

State milk output was up, too, for that month.

At 730 million pounds, the state's July milk production was up 1% from July 2011.

Output per cow was 1,570 pounds in July, up 25 pounds from last July. Milk cows for July averaged 465,000 head, unchanged from June but down 2,000 head from one year ago.

July 2012 milk output in the 23 major States was 15.5 billion pounds, up 0.8% from July 2011. Milk cows in the 23 major states totaled 8.50 million head, up 41,000 from the previous year. At 1,826 pounds, production per cow was up 6 pounds from July 2011.

Source: USDA-NASS Minnesota Field Office

 

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