SIOUX FALLS, S.D. (AP) – Farm real estate in South Dakota has increased in value by 29 percent.
The Agriculture Department says in a new report that the value of farm land and buildings in 2013 averaged $1,800. That is up $400 per acre.
Cropland value increased 30 percent from last year to $3,020 per acre. Dry land cropland averaged $3,000 per acre, up $700 from a year ago. Pastureland value was $710 per acre, up $120.
Cash rent paid to landlords in 2013 for cropland increased from last year. Irrigated cropland rent averaged $190 per acre, an increase of $25. Dry land cropland rent averaged $104 per acre, up $11.
Pasture rented for cash, which averaged $20 per acre, is up $2.50 from the previous year.
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