Lower grain prices have caused Kansas farmland prices to slump this year, reports the Dodge City Daily Globe. The value of Kansas cropland was down 2.2 percent as of Aug. 15, according to U.S. Department of Agriculture data. Experts expect cropland values to slide even further in the coming months as the agriculture sector continues to struggle.
However, the news isn’t all bad. The ranching sector is booming, as reflected in land prices. As a result of historically high cattle prices, pasture values are almost seven percent higher than last year, according to the USDA