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Farm and Non-farm Influences on Agricultural Land Prices

Pam Guiling, Damona Doye and, Wade Brorsen (October, 2008)

Summary

Analysis of agricultural land prices is important because rates of change are not uniform across geographic areas and prices are affected by different factors in different geographic regions. The importance of non-agricultural influences has also long been recognized. Non-agricultural or non-income producing activities, deer density, recreational income from agricultural uses, acres of elk habitat, hunting lease rates and recreational income have been found to be influential in studies in other states and regions. This study analyzes the impact of these factors on recent Oklahoma agricultural land prices, both pasture and cropland.