Michigan cash rental rates +2%

An extension educator says cash rental rates increased slightly during 2023 reflecting higher farmland values.

Farm Business Management Educator Jon LaPorte with Michigan State University Extension tells Brownfield the trend in Michigan is similar to other midwestern states.

“Even though there may be different levels of productivity, we all still have to deal with the same commodity markets,” he says. “We still have to deal with the same inflation, those kind of external factors all have to be dealt with relatively the same way.”

Farmers on average said they paid $140 per acre for cash rental rates on non-irrigated crop land in Michigan with the greatest increases reported in northern counties.

“In some cases, we’re getting a better handle on where maybe production is increasing a little bit in some areas, because percentage-wise, there’s some really big numbers in some of those counties.”

National USDA Farm Land Cash Rental Rates for non-irrigated cropland increased five percent in 2023 and were up two percent in Michigan.

AUDIO: Jon LaPorte, Michigan State University Extension

Add Comment

Your email address will not be published.


Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!