The USDA National Agricultural Statistics Service recently published the Texas Cash Rents Report for 2014. This report is the results of a cash rents survey conducted between February and July 2014.
You can access the full report for Texas here.
As you can see in the chart below, the average cash rental rates in Texas for 2014 are as follows:
- Pastureland: $6.50/acre (unchanged from 2013).
- Non-irrigated cropland: $27.00 (up from $24.00 in 2013).
- Irrigated cropland: $87.00 (up from $82.00 in 2013).
The report also breaks the cash rent averages down by district. The Blacklands and Upper Coast reported the highest lease rate for pastureland at $12.00 per acre, while the Trans-Pecos region reported the lowest, at $1.40 per acre. For non-irrigated cropland, the highest rates were found in the Coastal Bend region at $54.00 per acre and the lowest in the Trans-Pecos at 10.50 per acre. Lastly, with regard to irrigated cropland the Northern High Plains region reported the highest rates at $105.00 per acre, while the Upper Coast reported the lowest rates of %55.50 per acre.
Additionally, the NASS breaks down rental rates by county as well as reporting planted acres, harvested acres, yield per acre and total production of various crops. The statistics for each county in Texas may be accessed here. El Paso County reported the highest rental rates for irrigated cropland at $151.00 per acre, the highest for non-irrigated cropland and pastureland was reported by Willacy County at $58.50 per acre and $17.00 per acre, respectively.
Remember, it is important for all agricultural leases to be in writing. I have prepared a checklist for negotiating written grazing leases and hunting leases, and hope to have a similar publication for the negotiation of farm leases by the end of the year.