North Dakota State University Extension Agricultural Finance Specialist Bryon Parman says the cost of pasture ground has gone up hand-in-hand with cattle prices increasing. “National average pastureland prices jumped 11.5 percent; we haven’t seen a jump in numbers like this since 2014 when the cattle market was hot.” Parman says historically, land values have followed the commodity markets. “The largest single increase for cropland values jumped 14.2 percent from 2021 to 2022. Before this, it was in 2012 to 2013 when corn prices were $6-$8 range and soybeans and corn were also strong.”
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