USDA: Crop land values grow at slower rate

US crop land values slowed in growth between 2012 and 2013, according to the USDA’s land value summary, increasing nearly 13 percent over the course of the year compared to over 14 percent the year before.

Crop land on average across the United States was $4,000 an acre as at August 2013 compared with $3,540 a year before. Certain regions such as North Dakota increased by as much as 41.5 percent whereas New Mexico fell 9.6 percent.

Pasture land figures were less compelling at $1,200 an acre as at August 2013, some 4.3 percent higher than the year before when they were $1,150 an acre. North Dakota was again a big winner increasing 28.6 percent during the year, while South Caroline values fell 5.3 percent.