By Daniel Munch
American Farm Bureau Federation
Agricultural land values increased by $200 an acre over last year, according to USDA’s National Agricultural Statistics Service. The Land Values 2024 Summary report, released on August 2, shows a 5% increase to an average $4,170 per acre. This follows a 6.7%, or $250, increase between 2022 and 2023 and marks the fourth consecutive increase in agricultural land values. Cash rent values for cropland were up 3.2% to a record $160 per acre and up 3.3% to $15.50 per acre for pastureland.