MINOT, N.D. (KMOT) — Those renting pastureland may have noticed an increase in price.
Agriculture Finance Specialist Bryon Parman said the state is seeing record-high rent prices in terms of dollars per acre.
Support kami, ada hadiah spesial untuk anda.
Klik di sini: https://indonesiacrowd.com/support-bonus/
Parman said it is a roughly four percent increase compared to last year.
Parman explained that prices are affected by cattle inventory and drought.
While rent has gone up, so has pasture land value. However, they aren’t on the same level.
Support us — there's a special gift for you.
Click here: https://indonesiacrowd.com/support-bonus/
“Relative ratio of dollars per acre in rent versus pasture land values, like crop land, is very low,” said Parman.
Parman said he believes if commodity prices and net farm incomes stay lower and interest rates stay elevated, rental rates will continue to climb.
