This was the first increase in production in more than a year. This increase occurred in the face of a decline of 5,000 dairy cows in the state. Georgia Farmland Rental Rates Declining . Georgia farmland rental rates in 1999 are generally less than levels reported two years ago according to a survey of County Extension Agents and Farm Lenders. This was expected, given the lower commodity prices and droughts.
Lower income means farm operators have less funds to pay for land rent.
Pasture rental rates, while lower than in 1997, have declined less. This survey is conducted to provide rental rate estimates in the state's nine Statistical Reporting Districts. It includes an estimate of land values which is currently being tabulated. The preliminary analysis indicates farmland values are higher than two years ago. Although the farm economy is in the doldrums, the aggregate U.S. economy and the Georgia economy continue to grow.