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Nebraska's number of farms and ranches declined during 2007, continuing the downward trend, according to the U.S. Department of Agriculture's National Agricultural Statistics Service, Nebraska Field Office.
The report said the number of farms and ranches in Nebraska was 47,300, down 300, or less than 1 percent, from 2006.
But the telling numbers in the report reveal that the number of farms and ranches in Nebraska with less than $100,000 in agricultural sales declined by 1,400 farms, while the number of operations with more than $100,000 was up by 1,100 farms.
The report said the decline in smaller farms was the result of higher commodity prices pushing existing farms into higher sales categories.
Land in farms and ranches in Nebraska totaled 45.6 million acres, down slightly from the previous year. The average size of operation increased to 964 acres, up 4 acres from 2006.
The USDA also reported that the number of farms in the United States in 2007 was estimated at 2.08 million, 0.6 percent fewer than in 2006. Total land in farms, at 930.9 million acres, decreased by 1.5 million acres, or 0.16 percent, from 2006.
According to the report, the average farm size was 449 acres during 2007, an increase of three acres from the previous year.
The decline in the number of farms and land in farms reflects a continuing consolidation in farming operations and diversion of agricultural land to nonagricultural uses, the USDA reported.
The trend for higher commodity prices pushing existing farms into higher sales categories should continue this year.
Last week, Terry Francl, an American Farm Bureau Federation economist, said prices for key U.S. crops such as corn and soybeans are likely to remain at high levels this year, as competition for acreage to plant these crops continues.
"Crop supplies in 2008 will remain tight, prices will remain high, and strong competition will continue between corn and beans for acreage," Francl said. "The tight supply-and-demand balance sheet that's been in place for nearly all crops will continue for at least another year."
He said demand for U.S. corn and beans shows no signs of slowing and that means prices are likely to stay high.
"There's a 90 percent chance that corn prices may match or exceed the old record of $5.54 per bushel that was set in 1996, and there's a 75 percent chance corn prices could reach $6 per bushel during the spring," Francl said.
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