Kentucky Ag Connection - USDA to Collect Farmland Rental Rate Data

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USDA to Collect Farmland Rental Rate Data
Kentucky Ag Connection - 02/24/2017

Beginning this month, the U.S. Department of Agriculture's National Agricultural Statistics Service will contact Kentucky farmers to gather land rental rate information for the Cash Rents and Leases survey. The results of this survey will serve as a valuable decision-making tool for farmers and can be used for 2018 rental agreement negotiations.

"This brief survey is our only source of county cash rental rates," said David Knopf, director of the NASS Eastern Mountain Regional Office in Kentucky. "By responding, producers ensure USDA bases its decisions on the most accurate data, such as for the Conservation Reserve Program (CRP). Farmers will find the information valuable for evaluating land costs."

Data uses can include:

- Farm Service Agency (FSA) uses cash rent county estimates to determine market-based rates in administering USDA programs, such as CRP.

- Other state and federal government agencies, universities, and research organizations use these data for other forms of economic analysis.

- The data provide farmers with current information about rental rates in their county and are available for their use in making decisions regarding renting and leasing farmland.

NASS will publish average cash rental rates at national, state and county levels for non-irrigated cropland, irrigated cropland, and pastureland Sept. 8.

Nearly 8,500 Kentucky farmers will receive the survey forms. NASS offers the option of responding online via a secure internet connection. In late March, NASS representatives will begin calling and visiting farmers who have not yet responded.

"NASS will combine your responses with your fellow producers nationwide, providing the only accurate and comprehensive estimate of U.S. average rent and lease rates," Knopf added.

For more information about the Cash Rents and Leases survey, call the NASS Kentucky Field Office at (800) 928-5277.

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