Kansas cropland values down this year amid low grain prices

MANHATTAN, Kan. (AP) — Low grain prices are driving down Kansas cropland values, at the same time that high prices for cattle are pushing up the value of pastures.

Agriculture Department data shows the value of cropland slipped to an average $2,210 per acre in Kansas. That is down 2.2 percent compared to last year.

But the average pasture values rose nearly 7 percent to $1,390 per acre in Kansas.

Kansas State University agricultural economist Mykel Taylor researched property valuation records of actual sales transactions and found those tend to be higher than those reported on government surveys, although general trends are the same. Her study included factors such as location, rainfall and taxes.

Irrigated cropland in south-central Kansas is worth more than land in western counties where it rains less.

 

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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