The 2016 NASS results of their Cash Rent surveys have been released. The results are obtained by a survey of farmers conducted by the United States Department of Agricultural National Agricultural Statistics Service.
Every year, NASS collects cash rent data by state for irrigated cropland, non-irrigated cropland, and pastureland. In even numbered years, they break this data down by county. The county-level reports should be out in September. For now, we have the national and state-by-state results.
Nationwide, cash rental rates have dropped in the last year. Here are the results of the cash rent survey:
- Pastureland: $13/acre (down $1.00 from 2015)
- Non-irrigated cropland: $125/acre (down $8.00 from 2015)
- Irrigated cropland: $206/acre (down $3.00 from 2015)
For Texas, the results were mixed with an increase in irrigated cropland rates, but decreases for dryland cropland and pasture. The survey results are as follows:
- Pastureland: $6.80/acre (down $0.70 from 2015)
- Non-irrigated cropland: $27.00 (down $2.00 from 2015)
- Irrigated cropland: $90.00 (up $8.00 from 2015)
In order to view the average lease rates for irrigated cropland, non-irrigated cropland, and pasture land in each of the 50 states, click here.
Remember, I always encourage everyone to get all lease agreements in writing. I recently co-authored the Ranchers’ Agricultural Leasing Handbook that offers a wealth of information regarding law surrounding leases, landowner liability, and offers checklists and sample language on grazing/pasture, hunting, and livestock leases. For cropland leases, I recommend the resources at Ag Lease 101.
Lastly, if you are interested in more information on leasing, join Shannon Ferrell and I on Wednesday at 12 EST for our free webinar on Agricultural Leases. For more information, click here.
Ranchers Leasing Workshop is now available on demand to be taken anytime at your own pace. To register click here.