Grazing land values up 13% in some parts of Nebraska

  • By Shannon Sand, Nebraska Extension
  • May 8, 2024

By Shannon Sand, Nebraska Extension

It’s that time of year when the preliminary results for Nebraska ag land and rental rates comes out. On average in 2024, the market value for all agricultural land in Nebraska was $4,015 per acre, a 5% increase from the previous year.

Grazing land and hayland market value increases ranged from 6% to 8%. Non-tillable grazing land led the three land classes at 8%.

Districts in the North, East, Southwest and Southeast led the gains ranging from 7% to 13%. For example, non-tillable grazing land in the North averages around $982 per acre, a 13% increase from the previous results. Tillable grazing land followed with an increase of 7%, and hayland experienced a gain of 6%. Cow-calf producers capitalized higher cow-calf prices into these three land classes across competitive areas of the state.

Pasture and cow-calf pair rental rates trended higher across Nebraska in 2024. The rates increased generally between 5% and 8% compared to the previous grazing season. For example, the average per pair rate is $73.95 in the northern part of the state, a 6% change.

Rising grazing land cash rental rates follow higher cattle prices with the decline in national inventories. That may lead people to think about leasing and negotiation.

When negotiating leases some things to think about include early removal provisions when accounting for drought considerations for the upcoming growing season. The degree of service the landlord or tenant provides influences the cow-calf pair rental rates paid as part of the lease. Considerations for the leases include the party responsible for fencing upkeep, control of noxious weeds or brush, and payment of utility bills used for livestock wells.

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