The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Mike Walsten has covered major business trends in agriculture for more than 40 years.
The average value of good Missouri cropland fell 5.6% during the 12-month period ending in July. That's according to a survey conducted by University of Missouri Extension Economist Ron Plain. That same survey found pastureland slipped a slim 1.4% while timber/recreational ground dropped 9.3%.
The survey pegged an average acre of good cropland at $2,788 and an average acre of good pastureland at $2,021 an acre. In terms of looking ahead, most survey respondents expect farmland values to continue to decline by July 2010, but at a slower pace than last year.
I have most of the details of the survey in my September 17 issue of LandOwner. If interested in seeing a copy, just drop me an email at firstname.lastname@example.org or call 800-772-0023. Or click here to access the full report.
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