Farmland values in Nebraska have dropped for the fourth consecutive year, according to preliminary figures released by the University of Nebraska Lincoln. Nebraska Farm Bureau Senior Economist Jay Rempe says average land values hit their high in 2014 at $3300 an acre, but have now dropped to $2700 an acre.
Rempe says low commodity prices are the main reason for the drop in farmland values.
He says the positive news for agriculture is that farmers and ranchers still have stable equity positions.
Rempe expects Nebraska’s farm land values to continue to soften slightly in the future.
