David Widmar of Agricultural Economic Insights says that “2016 will be marked as the year cash rental rates began to decline at the national level.” But while that’s true at the national scale, he notes that “it’s important to keep in mind conditions often vary at the state and county levels.”
He draws these insights from the USDA’s National Agricultural Statistics Service (NASS) which just released it’s latest figures on cropland and pasture rental rates across the country. In this table he shows the national trend over time:
But those declines vary greatly depending on where you live. The map below shows the differences in pasture rental rates across the U.S. In Nebraska (down 16%), South Dakota (down 11%) and Oregon, the declines are greatest. Meanwhile, pasture rental rates have actually increased in other states (shown in green).
If you’d like more information on how to figure out what you should pay or charge for pasture rental rates, here are some popular On Pasture articles:
Pasture Rental and Use Rates: Animal Units and Profit Sharing