Recently, I spoke at the Cattle Trails Cow-Calf Conference in Wichita Falls to a full house of cattlemen and cattlewomen about the importance of drafting grazing leases.  Jennifer Latzke, a reporter with the High Plains/Midwest Ag Journal was in attendance and drafted a great article discussing this issue. Landowners Should Pay Closer Attention To Grazing Leases Jennifer Latzke, High Plains/Midwest Ag Journal Handshake deals are one of the hallmarks of the Western rancher. But, lawyer Tiffany Dowell-Lashmet has seen how handshake deals and verbal agreements can fall apart when… Read More →

As they do each year, the USDA National Agriculture Statistics Service (“NASS”) has published the cash rent statistics for 2015.  The results are obtained by a survey of farmers conducted by NASS. Nationwide, the survey results are as follows: Pastureland: $14/acre (up $2.00 from 2014) Non-irrigated cropland: $133/acre (up $3.00 from 2014) Irrigated cropland: $209/acre (up $1.00 from 2014)   For Texas, the survey results are as follows: Pastureland:  $7.50/acre (up $1.00 from 2014) Non-irrigated cropland:  $29.00 (up $2.00 from 2014) Irrigated cropland:  $82.00 (down $5.00 from 2014)… Read More →

A case recently decided by the Iowa Court of Appeals offers an important lesson for farm landlords and tenants when it comes to drafting leases:  all terms of a lease should be contained in the written lease agreement. Background Beginning in 2006, Four Acres began leasing 690 acres of Iowa farmland from Mr. Peck.  The parties signed a lease agreement that provided the lease would be for a term of 1 year for 689.5 acres, for which the tenant (Four Acres) agreed to pay $195.00.  The equal payments… Read More →

Question   I currently have a pasture lease that lasts through the end of the year.  My landlord just sold the property to someone else.  Does my lease continue on with the new owner? Answer   This is a great question, and one that I frequently get asked at presentations.  There are, surprisingly, few Texas cases that have addressed this issue.  Nevertheless, the law appears to be fairly settled on this point.  As with most legal questions, the answer depends on the facts. First, if the original lease… Read More →

The University of Minnesota’s Center for Farm Financial Management has developed a new tool to help agricultural landlords and tenants evaluate various rental price arrangements and select the one that best fits their operation.  Their new tool, FairRent, allows producers to evaluate a traditional cash rent contract, a crop share rental agreement, and seven alternative flex lease options. To use FairRent, a free tool, just click here and register.  For more information about FairRent, click here.    

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… Read More →