Although commodity prices and farm incomes have fallen, U.S. farmland values have remained stable, the Agriculture Department’s National Agricultural Statistics Service reported Aug. 4 in the Land Values 2017 Summary report.

“The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,080 per acre for 2017, up $70 per acre (2.3 percent) from 2016 values,” the report stated.

Other highlights reported by NASS:

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 Regional changes in the average value of farm real estate ranged from a 8.7 percent increase in the Pacific region to 1.8 percent decrease in the Northern Plains region.

 The highest farm real estate values were in the Corn Belt at $6,260 per acre.

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 The Mountain region had the lowest farm real estate value at $1,130 per acre.

 The U.S. cropland value remained unchanged at $4,090 per acre from the previous year.

 In the Southern Plains region, the average cropland value increased 6.0 percent from the previous year. However, in the Northern Plains region, cropland values decreased by 4.4 percent.

 The U.S. pasture value increased by $20 per acre (1.5 percent) from 2016 values.

The Delta region had the highest increase of 2.9 percent from 2016. The largest decrease, at 1.7 percent, was in the Corn Belt region. ❖