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Texas has more farms than any other state in the country and ranks third in the sale of agricultural products in the United States. With diverse climates and weather patterns across the state, agricultural production can persist throughout much of the year. Notably, Texas produces 42% of Cotton in the United States. If it were judged as its own country, it would rank fourth in the world for Cotton production. The top 5 commodities in Texas are Cattle, Cotton, Milk, Broilers (Chicken), Greenhouse Crops, Corn, Sorghum, and Wheat. Overall, the Lone Star state makes up 6% of all agricultural sales in the US. There are a total of 248,416 farms in Texas (more than the next 9 states combined) covering 75% of its land area with an average size of 511 acres.

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Farmland Rental Rates

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texas Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the texas have risen from an average of $27 per acre in 1999 to $42 per acre in 2019. This represents an increase of $16 over this time period with an average implied capitalization rate of 2.5%.

$42

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.01998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$ 0$ 10$ 20$ 30$ 40$ 50Highcharts.com

2.5%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.019981999200020012002200320042005200620072008200920102011201220132014201520162017201820190 %0.8 %1.6 %2.4 %3.2 %4 %Highcharts.com

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