UP 4.5%

摘要

U.S. pastureland values continue to rise, but substantially lag the pace of cropland. The average value of U.S. pas-tureland rose 4.5% through the start of this year to $l,150/acre, USDA says. That's another new nominal high, but pales against the blistering cropland market, where values swelled 14.5%. Pasture prices are being pulled higher by a combination of low interest rates, continued conversion of grassland to row-crop production, and increased demand for pasture as a cheaper feed alternative in the face of high grain prices. In addition, record-low interest rates have expanded both the number of qualified potential buyers of land, and the price they can afford to pay.