(Minot, ND) — Livestock owners are bracing for a spike in pastureland prices this year. Higher cattle prices have already raised the price of grazing land by seven percent this year, and extension agents expect that to go even higher next year. Blame it on supply and demand. NDSU extension agents point out that cattle prices are up, so ranchers are buying more land right now, preparing for future expansion. On the bright side? Cropland prices are stagnant right now, and that may encourage farmers to plant more.
