Farmland cash rents remain stable this year according to an analysis done by Market Intel for the American Farm Bureau. Nebraska Farm Bureau Senior Economist Jay Rempe says those cash rents are also reflected by stable ag land values and all of that is a good sign for agriculture.
He says despite all the economic pressures recently compounded by the pandemic, farmers and ranchers are staying optimistic.
Rempe says there is uncertainty going forward into 2021 revolving around off farm income as that’s certain to be lower due to the high levels of unemployment caused by the pandemic.
The Market Intel analysis found that during 2020, the average cash rental rates for cropland, irrigated cropland and pastureland were $139 an acre. Those rates were mostly in line with prior year levels.
