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The Farm CPA

RSS By: Paul Neiffer, Top Producer

Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.

Rural Economy Continues to Improve

Apr 22, 2010

Creighton University produces a monthly rural main street economic report based upon  a survey of bankers in an 11 state area which comprises most of the corn belt.  This survey gives a good picture of where the local farm economy is headed.

In the latest report, the highlights are as follows:

  • The farmland-price index moved above growth neutral for a third straight month to 59.5 from 58.2 in March.  After beginning a downward slide in the spring 2008, farm and ranch prices have once again begun to grow.  One banker reported that a 143-acre farm in Nebraska brought $8,025 per acre.
  • The farm equipment sales index soared from March 41.4 to 57.2 in April.  Bankers are reporting significant improvements in farm and ranch land prices and equipment sales.  They seem to expect these trends to continue in the months ahead.
  • One banker indicated the increases in cattle prices is having a large positive impact in the local economy.
  • For a second straight month, all bank indicators were healthy.
  • However, hiring in the rural area has yet to bounce above growth neutral.

Another interesting note was that about 82% of the bankers surveyed were in support of extending the 45-cent-per-gallon blender credit for ethanol production.  Only 8% were against it.

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COMMENTS (2 Comments)

Be sure to keep track of those bankers surveyed so you can do a follow up survey after Obama and his band of merry democrats leave office and has made shambles of every facet of the US economy. In the meantime eat drink and be merry. My biggest concern is which foreign language I should be learning so I can get by in the future....Chinese or Spanish?
4:17 PM Apr 23rd
LOL. Not really.
12:07 PM Apr 22nd
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