undefined Agriculture Overview

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Michigan is an agriculturally diverse state, and ranks in the top 5 in the nation for the number of unique commodities produced. Facilitating this diverse production mix are the large variations in climate, soil compositions, and markets across the state that can encourage growers to follow best practices for their area, which often vary widely as well. While Dairy products, Corn, Soybeans, and Cattle make up over 50% of the state’s total production, there is much more depth to this agricultural economy. For example, Michigan produces 26% of the Asparagus, 17% of the Cucumbers, and 10% of Sugar Beets grown and sold in the United States.

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Farmland Returns

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michigan Farmland Returns

Over the last 20 years, michigan farmland has offered average returns of 7.9%. At this rate, $10,000 invested in farmland in 1999 would now be worth over $89,300. Farmland returns are made up of two values, land appreciation, and capitalization rates of the property. Total farmland returns have been positive every year since 1990.

7.9%

Average Annual Returns

Cumulative Returns of Farmland

Source: NCREIF

Created with Highcharts 7.2.01998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$0$15000$30000$45000$60000$75000Highcharts.com

7.9%

Standard Deviation of Returns

Year Over Year Change (%)

Source: NCREIF

Created with Highcharts 7.2.01998199920002001200220032004200520062007200820092010201120122013201420152016201720182019-8 %0 %8 %16 %24 %32 %Highcharts.com

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