undefined Agriculture Overview

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Though Utah's climate, water resources, and amount of quality cropland may not seem set to make it an agricultural state, agriculture still prevails and has a large impact on its economy. The majority of the farmland in the state is dedicated to pastureland and in total, Utah sold $1.3 billion of Livestock, Poultry and products as of the last USDA Census of Ag. The top crops in Utah are Hay, Wheat, Corn, Cherries, Barley, and Safflower. There are a total of 18,409 farms in Utah spread across 10.8 million acres with an average size of 587 acres.

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Farmland Rental Rates

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utah Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the utah have risen from an average of $58 per acre in 2008 to $76 per acre in 2019. This represents an increase of $17 over this time period with an average implied capitalization rate of 1.9%.

$76

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.0200820092010201120122013201420152016201720182019$ 0$ 20$ 40$ 60$ 80$ 100Highcharts.com

1.9%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.02008200920102011201220132014201520162017201820190 %0.5 %1 %1.5 %2 %2.5 %Highcharts.com

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