South Dakota’s cropland value average declined 4.7% in 2016, according to the latest Farm Real Estate Survey conducted by South Dakota State University’s ag economics department. Rangeland values were down 0.6%. The survey was done in February, and the results were just published.

Other top results from the survey:

• 2016 was only the third year in the 27 years of the survey that average cropland values declined.

• The highest cropland values are found in the East-Central and Southeast regions, with average values of $6,160 and $5,569 per acre, respectively.

• The second-highest cropland value group consisted of the Northeast, North-Central, and Central regions with average cropland values varying from $4,654 to $3,291 per acre.

• Cropland values are considerably lower in the three regions west of the Missouri River. Per-acre cropland values averaged $2,203 in the South-Central Region, $1,427 in the Southwest and $1,142 in the Northwest Region.

• Cropland values from 2016 to 2017 had the largest decreases in the North-Central and Central regions. They were down $147 and $552, respectively.

• Overall, the state average cropland value decreased $191 per acre.

• The value of South Dakota pasture/rangeland averaged $1,215 per acre, a 0.6% decrease compared to rangeland values from 2016.

• Average pasture/rangeland values were highest in the East-Central and Southeast regions at $2,546 and $2,450 per acre, respectively.

• Pasture values Northeast, North-Central and Central regions varied from $1,914 per acre in the North Central region to $2,089 per acre in the Northeast region.

• The lowest pasture values per acre are in the western side of the state. Per-acre values varied from $650 in the Northwest, to $887 in the Southwest, and $1,150 in the South-Central Region.

Rental rates
Average non-irrigated cropland cash rental rates increased in the South-Central Region with all other regions decreasing. Average cash rental rates in 2017 for non-irrigated cropland varied from $41 to $193 per acre in the Northwest and East-Central regions. Clay-Lincoln-Turner-Union counties had the highest average cash rental rates for cropland at $227 per acre

Average rangeland and pasture rental rates varied from $21 per acre in the Northwest region to $75 per acre in the Southeast region. Rates increased the Northeast, South-Central, Southwest and Northwest regions and decreased in Southeast, East-Central, North-Central and Central regions. Brookings-Lake-McCook counties had the highest average pasture/range cash rental rate of $85 per acre.

See the complete report at igrow.org/up/resources/07-3007-2017.pdf.