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Wisconsin farm values grow at much smaller pace

Wisconsin Farm (courtesy of Flickr)
Wisconsin Farm (courtesy of Flickr)

MADISON, WI (WTAQ) - The value of Wisconsin farmland continues to grow, but at a much smaller pace than in recent years. 

A newly-released USDA report shows that Wisconsin's average farmland value rose at an annual rate of 1.1 percent as of early June. That's way down from a 7.4 percent jump in 2012, and 8 percent the year before that. 

Wisconsin farmland averaged $4,400 an acre -- much less than the $8,400 in neighboring Iowa, where values jumped 20 percent over the past year. Illinois' farmland was worth $7,800 an acre, 16 percent more than the preceding year. 

Experts say one reason for the smaller land prices in Wisconsin is that farmers grow more of their corn and soybeans as feed for their own livestock, while other states put larger percentages on the commodity markets.