Explore undefined agriculture and learn what makes it unique.
Ranking in the top three industries in Wyoming, agriculture has a major impact on the state's economy and Livestock is king. Wyoming has long-been known for their excellence in Cattle production and over 60% of the state's revenue from agriculture comes from their sale of Cattle and Calves. As you can imagine, Hay is also produced in abundance in Wyoming, which is commonly used as feed. In the river bottoms of Wyoming, you will find more fertile soils growing Corn, Sugar Beets, Dry Beans, and Barley as well. As a whole, 47% of Wyoming's total land area is used as farmland amounting to a total of 29 million acres.
Over the last 20 years, farmland rental rates per acre in the wyoming have risen from an average of $34 per acre in 2008 to $58 per acre in 2019. This represents an increase of $23 over this time period with an average implied capitalization rate of 4%.
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