Wednesday, August 24, 1983
Daily Nebraskan
Page 13
ISED
Farm values fall
throughout state
Nebraska 1 983 farmland values were 0.8 percent
below last year's levels in all eight crop reporting
districts, according to Bruce Johnson, UNL
associate professor of agricultural economics.
The greatest decline, according to a report done
in February, was a 12.9 percent drop in gravity
irrigated cropland. Dryland cropland with
irrigation potential had the second highest decline
with an 11.6 percent drop.
Reasons for t he decline in t he value of irrigated
land and land wit h irrigat ion potent ial were 1982's
low farm returns, high interest rates and above
average rainfalls, he said.
The value of different land types varied greatly,
Johnson said. Ail grazing land averaged $120 per
acre, and all gravity cropland averaged $1,737 per
acre in February, lie said the farmland market is a
"thin market." No more than two percent of the
farmland in the northern Great Plains region
changes ownership in a years time.
The motive for buying farmland in 1982 was
expansion, Johnson said. Financial problems and
estate settlements were the major reasons for
selling land.
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