Oklahoma Agricultural Land Rental Update
Agricultural Land Rental Update by Roger Sahs, Extension Specialist at OSU Agricultural Economics Department. Includes survey procedures, rental rates for cropland and pasture, cash rental rates, wheat price trends, and crop share lease agreements in Oklahoma.
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Agricultural Land Rental Update Roger Sahs, Extension Specialist OSU Agricultural Economics Department
Survey procedures Oklahoma Ag Statistics Service mailings Questions on crop shares and cash rents for cropland & pasture Usable responses 175 (cropland) 410 (pasture) Current Report-216 Oklahoma Pasture Rental Rates and Current Report-230 Oklahoma Cropland Rental Rates http://factsheets.okstate.edu/documents/cr-216-oklahoma- pasture-rental-rates-2018-2019/ http://factsheets.okstate.edu/documents/cr-230-oklahoma- cropland-rental-rates-2018-19/
Average Annual Non-irrigated Cropland Cash Rental Rates ($) Wheat NW SW NC E State 2018 vs 2016 -8.6% Average Median 2016 Avg 30.80 30.00 31.22 31.29 30.00 37.07 34.01 35.00 39.21 NA 32.90 33.00 36.01 30.75 North central East Northwest Southwest Source: OSU/NASS survey, 2018
Wheat Monthly Average Price Received by Oklahoma farmers during the marketing year 8 7 6 5 $/Bu. 4 3 2 1 0 Avg. 10/11-14/15 2016/17 2018/19 Source: USDA-NASS
Cropland Cash Rent, 2018 ($ per acre) 203.00 65.00 32.00 167.00 159.00 160.00 140.00 119.00 63.00 123.00 80.50 231.00 195.00 77.50 130 152.00 198.00 64.00 223.00 45.00 112.00 74.50 66.50 63.00 113.00 149.00 132.00 340.00 87.00 98.00 34.00 253.00 111.00 48.50 61.50 120.00 116.00 N/A 42.50 89.00 30 to 69.99 115.00 70 to 109.99 110 to 149.99 150+ USDA/NASS data
2017 Rental Rates for Cropland, Oklahoma CIMARRON TEXAS NOWATA HARPER BEAVER WOODS WASHINGTON GRANT KAY ALFALFA CRAIG OSAGE DELAWARE ROGERS WOODWARD * NOBLE GARFIELD MAJOR PAWNEE ELLIS MAYES PAYNE DEWEY WAGONER CREEK BLAINE LOGAN ROGER MILLS ADAIR LINCOLN MUSKOGEE * CANADIAN CUSTER SEQUOYAH < $20 $20 to $27.99 OKFUSKEE WASHITA MCINTOSH SEMINOLE BECKHAM * CADDO HUGHES * PITTSBURG GRADY GREER * $28 to $34.99 $35 + KIOWA LATIMER HARMON MCCLAIN GARVIN LE FLORE * COMANCHE * JACKSON * COAL STEPHENS TILLMAN MURRAY PUSHMATAHA * COTTON ATOKA JOHNSTON * CARTER * * JEFFERSON MARSHALL MCCURTAIN CHOCTAW * LOVE * BRYAN Source: USDA/NASS website, http://www.nass.usda.gov/Statistics_by_State/Oklahoma/ Publications/County_Estimates/index.asp. * Indicates rate for Other (Combined) Counties
Typical Oklahoma Cropland Share Lease Agreement Income items shared Crop Other income Expense items shared Seed Fertilizer Pesticide Chemical applications Harvesting Lime application Irrigation Landlord s share 1/3 1/3 None 1/3 1/3 (or none) 1/3 (or none) None 1/3 (or all or none) None (or 1/3) Source: OSU CR-230, February 2019.
Average Annual Pasture Cash Rental Rates ($/acre)* NW SW NC E State 2018 vs 2016 +10% Native Pasture 2016 11.61 10.00 10.94 NA 15.32 15.00 12.78 21.15 22.19 20.27 16.76 15.00 13.95 25.22 20.00 24.55 20.40 20.00 21.00 17.97 15.00 16.73 22.85 20.00 23.96 26.82 25.00 25.55 15.33 13.31 13.95 23.15 20.00 22.79 22.27 20.00 22.09 Bermuda +2% 2016 Other Pasture 2016 14.43 14.00 17.83 +1% North central Northwest * 2018 Average (black font) East 2018 Median (blue font) Southwest 2016 Average (red font) Source: OSU/NASS survey, 2018
Average Pastureland Rent, 2018 ($ per acre) 6.30 31.00 17.00 12.00 11.00 23.00 40.00 54.00 22.50 39.00 21.00 19.50 33.00 13.00 28.00 20.00 13.50 18.00 22.00 27.00 19.00 N/A 6.70 5 to 14.99 18.00 17.00 15 to 24.99 25+ USDA/NASS data
2017 Rental Rates for Pasture, Oklahoma CIMARRON TEXAS NOWATA HARPER BEAVER WOODS WASHINGTON GRANT KAY ALFALFA CRAIG OSAGE DELAWARE WOODWARD ROGERS NOBLE GARFIELD MAJOR * PAWNEE ELLIS MAYES * PAYNE DEWEY WAGONER CREEK BLAINE LOGAN ROGER MILLS ADAIR LINCOLN * MUSKOGEE CANADIAN CUSTER SEQUOYAH < $10 $10 to $12.99 OKFUSKEE * WASHITA * MCINTOSH SEMINOLE BECKHAM CADDO * HUGHES PITTSBURG GRADY GREER * $13 to $15.99 $16 + KIOWA LATIMER HARMON MCCLAIN GARVIN LE FLORE COMANCHE * * * JACKSON COAL STEPHENS TILLMAN MURRAY PUSHMATAHA COTTON ATOKA JOHNSTON * CARTER * JEFFERSON MARSHALL MCCURTAIN CHOCTAW LOVE BRYAN Source: USDA/NASS website http://www.nass.usda.gov/Statistics_by_State/Oklahoma/ Publications/County_Estimates/index.asp. * Indicates rate for Other (Combined) Counties
Oklahoma Dryland Cropland Values and Rental Rates 2,000 40 1,800 36 1,600 32 Land Value ($/ac) Cash Rent ($/ac) 1,400 28 1,200 24 1,000 20 800 16 600 12 400 8 200 4 0 0 Year Land Value Cash Rent USDA/NASS data
Oklahoma Pasture Values and Rental Rates 1,800 16 1,600 14 1,400 Land Value ($/ac) 12 Cash Rent ($/ac) 1,200 10 1,000 8 800 6 600 4 400 2 200 0 0 Land Value Cash Rent USDA/NASS data
Gross Rent-to-Value Comparison, Oklahoma 6.0 5.0 4.0 Percent 3.0 2.0 1.0 0.0 Cropland Pasture USDA/NASS data
Check out these websites: aglease.info & aglease101.org
Thank you for listening in! Roger Sahs 520 Ag Hall 405/744-9836 roger.sahs@okstate.edu We would like your feedback! Please go to the link below to fill out a short survey. https://okstatecasnr.az1.qualtrics.com/jfe/form/SV_cZPCxxzjhu9TYkB
