2020 Nebraska Farm Real Estate Report Preliminary Results Tables

2020 Nebraska Farm Real Estate Report Preliminary Results Tables

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Table 1. Average Reported Value of Nebraska Farmland for Different Land Types and Sub-State Regions, February 1, 2020a Preliminary
Agricultural Statistics District
Type of Land Northwest North Northeast Central East Southwest South Southeast Statec
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dollars Per Acre - - - - - - - - - - - - - - - - - - - - - - - - - - -
Dryland Cropland (No Irrigation Potential)
$/acre 610 1,520 5,535 2,850 6,130 1,365 2,960 4,425 3,165
% change -5 2 4 3 6 -6 3 7 4
Dryland Cropland (Irrigation Potential)
$/acre 700 1,975 5,740 3,200 6,560 1,560 3,480 5,335 4,140
% change 3 3 2 5 7 -2 1 1 3
Grazing Land (Tillable)
$/acre 540 1,100 3,210 1,870 3,310 920 1,855 2,930 1,250
% change 8 6 3 7 8 5 -1 6 5
Grazing Land (Nontillable)
$/acre 440 655 2,120 1,460 2,375 750 1,385 2,125 830
% change 7 5 6 4 5 2 4 8 4
Hayland
$/acre 715 1,175 3,070 1,915 2,965 1,340 1,940 2,735 1,645
% change 1 3 2 2 -2 7 -3 3 2
Gravity Irrigated Cropland
$/acre 2,180 3,650 6,680 5,825 7,765 3,630 5,485 6,230 5,780
% change -3 2 3 -1 2 -2 2 6 2
Center Pivot Irrigated Croplandb
$/acre 2,435 3,940 7,395 6,660 8,905 3,985 6,425 7,700 6,120
% change -5 1 3 4 5 -3 4 3 3
All Land Averagec
$/acre 690 1,090 5,375 3,180 6,510 1,545 3,620 4,875 2,730
% change 1 4 3 3 5 -1 2 4 3
Source: a UNL Nebraska Farm Real Estate Market Surveys, 2019 and 2020.
b Value of pivot not included in per-acre value.
c Weighted averages.



Table 2. Reported Cash Rental Rates for Various Types of Nebraska Farmland and Pasture: 2020 Averages, Percent Change from 2019 and Quality Ranges by Agricultural Statistics Districta Preliminary
Agricultural Statistics District
Type of Land Northwest North Northeast Central East Southwest South Southeast
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dollars Per Acre - - - - - - - - - - - - - - - - - - - - - - - - - - -
Dryland Cropland
Average 28 51 220 92 205 37 80 165
% Change 2 3 7 9 2 -3 10 6
High Third Quality 38 86 250 105 235 56 115 195
Low Third Quality 23 42 170 72 165 30 58 130
Gravity Irrigated Cropland
Average 105 175 250 205 250 160 205 230
% Change -5 6 -2 5 2 3 8 5
High Third Quality 145 210 290 240 285 200 235 270
Low Third Quality 80 145 215 170 210 130 170 195
Center Pivot Irrigated Croplandb
Average 140 195 290 230 280 185 220 260
% Change -3 5 4 7 -2 5 9 4
High Third Quality 185 235 330 265 320 210 255 300
Low Third Quality 100 175 245 185 245 160 180 220
Pasture
Average 12 26 63 35 51 20 37 48
% Change 9 6 8 12 9 5 10 4
High Third Quality 18 42 79 46 67 28 45 62
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dollars Per Month - - - - - - - - - - - - - - - - - - - - - - - - - - -
Cow-Calf Pair Monthly Ratesc
Average 37.45 60.55 57.7 54.95 51.3 49.9 49.55 51.4
% Change 5 3 10 5 6 1 7 9
High Third Quality 44.85 69.3 72.15 64.9 63 59.5 56.25 58.8
Low Third Quality 30.9 50.75 45.5 39.65 44.1 42.85 38.4 36.2
Source: aReporters’ estimated cash rental rates (both averages and ranges) from the UNL Nebraska Farm Real Estate Market Survey, 2019 and 2020.
bCash rents on center pivot land assumes landowners own total irrigation system.
cA cow-calf pair is typically considered to be 1.25 to 1.30 animal units (animal unit being 1,000 lb. animal) for a five-month grazing season. However, this can vary depending on weight of cow and age of calf.

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