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.