What factors impact land values?
For western lands, the answer goes beyond the simple economics of production value. Ranchland value varies according to water rights, location, terrain, public land grazing allotment — and finally, its hay production and livestock stocking capacity. Land values can also be impacted by economic downturns, including a pandemic. Many ranches are priced according to their acreage amounts, both deeded and their public land allotments, instead of agriculture production value.