undefined Agriculture Overview

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Agriculture has a long history in the state of Kentucky and is still is one of the state’s leading economic drivers. Throughout its history, Kentucky has been one of the leading producers of tobacco in the nation and still remains the number 2 exporter of the crop. Today, Livestock producers play a large role in our agricultural economy as Kentucky is the number 1 exporter of Livestock products. As of 2017, there were a total of 75,966 farms producing a wide variety of crops and animal products adding up to nearly 13 million acres, 51% of the total land area.

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Farmland Rental Rates

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kentucky Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the kentucky have risen from an average of $74 per acre in 1999 to $151 per acre in 2019. This represents an increase of $77 over this time period with an average implied capitalization rate of 3.4%.

$151

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.019941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$ 0$ 40$ 80$ 120$ 160$ 200Highcharts.com

3.4%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.0199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820190 %1 %2 %3 %4 %5 %Highcharts.com

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