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LINCOLN, Neb. (AP) - A report on preliminary survey findings shows the average value of Nebraska's agricultural land dropped about 4 percent over the past year - the second decline in as many years.
The University of Nebraska-Lincoln survey report says that as of February 1st, the statewide land value was $3,135 an acre on average, compared with $3,250 a year earlier and $3,416 in 2014. The decline comes as producers face lower prices for crops and livestock.
Rental rates for dryland and irrigated cropland declined 5 to 10 percent across the state.
Survey respondents included real estate salespeople and brokers, appraisers, bankers and mortgage experts.
© Associated Press
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