The average value of pastureland across America took a jump from last year. The average value is $1,350 per acre, up 1.5 percent from 2016. That value is a record-high since the U.S. Department of Agriculture first began keeping records.
As a comparison, the average acre of cropland is worth $4,090, the same as in 2016. In different parts of the country, pastureland values vary by a wide margin. The Southeast has the highest pasture values in the country at $3,910 per acre. Other regions of the country include the Northeast at $3,420 per acre, the Appalachian region at $3,340, the Delta at $2,480, and the Corn Belt at $2,380.
The Delta states saw the highest average increase since last year at 2.9 percent. Among the Delta States, Lousiana saw the largest overall jump in the value of 3.8 percent to $2,700 per acre.
The largest decrease of any region in the country came in the Corn Belt, where average prices came in 1.7 percent lower than in 2016. Iowa pastureland prices dropped 8.8 percent to an average of $3,100 per acre. Illinois values dropped 2.9 percent per acre and Ohio was 1.6 percent lower than last year.
From the National Association of Farm Broadcasting News Service.