Farm real estate value in South Dakota has fallen 3 percent.

The Agriculture Department says in a report released Wednesday that farm value, including land and buildings, averaged $890 per acre on January 1, down from $920 the previous year.

It is the first drop in South Dakota farm real estate value in 16 years, but it mirrors the national trend. The report says the average U.S. farm real estate value of $2,100 also is down 3 percent.

The average value for South Dakota cropland is $1,400 per acre, unchanged over the year. Non-irrigated cropland was unchanged in value and irrigated cropland rose 1 percent. Pastureland fell 9 percent, to an average of $430 per acre.

Average cash rent for non-irrigated cropland rose 12 percent to $71.50 per acre in South Dakota, while average cash rent for pastureland increased just slightly to $16 per acre.

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