1. Land Values, Rents, Rent to Value Ratios and Land as an Investment Damona Doye Sarkeys Distinguished Professor Extension Economist and Regents Professor Roger Sahs Assistant Extension Specialist

2. A new website, aglease.info & a reminder about aglease101.org

3. Sources of data Land values – USDA National Ag Statistics Service annual summary – Agecon.okstate.edu/oklandvalues – Kansas City Federal Reserve Bank quarterly Ag Credit Survey Rental rates – OSU survey results in CR-216 and CR-230 – USDA NASS annual statistics – Oklahoma Commissioners of the Land Office

4. USDA-NASS data (August 2012)

6. Crop Land Average Value by State, 2012 ($ per acre) USDA/NASS data 7,800 7,000 4,230 12,380 4,000 4,050 4,480 6,800 5,650 2,600 7,300 5,000 3,340 1,750 2,070 6,200 2,320 4,000 3,450 1,350 4,700 3,430 2,300 5,730 2,520 3,360 2,120 8,500 2,370 1,690 1,390 853 2,560 1,450 1,290 2,690 1,830 2,510 9,810 3,500 N/A 500 - 999 1,000 – 2,499 2,500 – 4,999 5,000 – 15,000

7. Crop Land Cash Rent, 2012 ($ per acre) USDA/NASS data 32.5 29.5 33 37.5 36 49 47 60.5 52 58 50.5 72.5 58.5 68 72 70.5 74 87 89.5 76.5 79.594 91 98 108 103 99 115 130 110 122130 215 151 143 142 176 175 200 130 212 235 267 94.5 N/A 25 to 50 51 to 100 101 to 150 >151

8. USDA/NASS data www.agecon.okstate.edu/oklandvalues

9. USDA/NASS data

10. Average Annual Dryland Cash Rental Rates ($/acre) Source: OSU/NASS survey, fall 2012 NWSWNCEState Wheat 31.78 28.66 10-49 30.96 15-55 38.21 20-55 35.70 20-67 32.81 10-67 Alfalfa 41.61 40.40 32-50 Grain Sorghum 27.90 29.03 16-45 Northwest Southwest East North central

11. Pasture Land Average Value by State, 2012 ($ per acre) USDA/NASS data N/A 500 - 999 1,000 – 2,499 2,500 – 4,999 5,000 – 15,000

13. www.agecon.okstate.edu/oklandvalues

14. USDA/NASS data

15. http://agecon.okstate.edu/oklandvalues/ OK Pasture Land Values as a Percent of Cropland Values

16. Average Annual Pasture Cash Rental Rates ($/acre) Source: OSU/NASS survey, fall 2012 NWSWNCEState Native Pasture 11.61 9.30 5-15 12.44 4-30 12.66 8-21 13.87 3-33 12.40 3-33 Bermuda 16.61 17.36 6-35 18.99 4-50 19.27 4-50 Other Pasture 16.10 23.09 8-50 21.67 12-30 20.70 6-50 Northwest Southwest East North central

17. USDA/NASS data

20. www.agecon.okstate.edu/oklandvalues

21. http://agecon.okstate.edu/oklandvalues/ 2009-2011 Cropland and Pasture Values by Size of Tract