Number of cattle down, but value of NM farmland up

Created: 09/05/2014 11:46 AM
By: APNewsNow, Associated Press

ALBUQUERQUE, N.M. (AP) - There may be fewer cattle in New Mexico than a few years ago, but federal agriculture statistics show farmland values in the state are on the rise.

The U.S. Department of Agriculture's statistics service says the average real estate value of farmland in New Mexico is $540 an acre. That's an increase of 8 percent over the previous year.

The average values of irrigated cropland and pasture land were also up.

The figures released this week also show New Mexico remains in the top 10 when it comes to overall milk production.

Between 2008 and 2012, New Mexico produced an average of nearly 8 million pounds of milk a year. The state also led in milk production per cow with more than 24,000 pounds between 2009 and 2012.

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