The USDA’s National Agricultural Statistics Service (NASS) noted in its annual Land Values report on Friday that, “The United States cropland value increased by $460 per acre (13.0 percent) to $4,000 per acre.”
Friday’s report pointed out that, “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.”
Click here to see 2013 cropland values by state, as well as percent changes from 2012.
In a separate report Friday regarding production expenses, NASS indicated that, “Farm Production Expenditures in the United States is estimated at $351.8 billion for 2012, up from $318.7 billion in 2011. The 2012 Total farm production expenditures were up 10.4 percent compared with 2011 Total farm production expenditures. All expenditure items, except Interest, increased from the previous year.
“The four largest expenditures at the United States level totaled $161.8 billion and accounted for 46.0 percent of Total expenditures in 2012. These include Feed, 16.8 percent, Farm services, 11.3 percent, Livestock, poultry and related expenses, 9.1 percent, and Labor, 8.8 percent.”
By Keith Good
First published by Farm Policy