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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 Returns

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utah Farmland Returns

Over the last 20 years, utah farmland has offered average returns of 5.2%. At this rate, $10,000 invested in farmland in 2009 would now be worth over $61,600. 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.

5.2%

Average Annual Returns

Cumulative Returns of Farmland

Source: NCREIF

Created with Highcharts 7.2.020092010201120122013201420152016201720182019$0$4000$8000$12000$16000$20000Highcharts.com

5.2%

Standard Deviation of Returns

Year Over Year Change (%)

Source: NCREIF

Created with Highcharts 7.2.020092010201120122013201420152016201720182019-6 %0 %6 %12 %18 %24 %Highcharts.com

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