According to a new report from the U.S. Department of Agriculture, both farmland values and cash rents have dropped from last year’s levels. This is only the second time that farmland values have dropped since the 1980s farm crisis. The USDA report shows farmland values in the lower 48 states declined $10 to average $3,010 per acre. Cropland values declined one percent to average $4,090 per acre, while pastureland was unchanged at $1,330 per acre.
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