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April 2009 Archive for Your Precious Land

RSS By: Mike Walsten, Pro Farmer

Mike Walsten has covered major business trends in agriculture for more than 40 years.

FCC Reports 5.6% Gain In Canadian Land Values Last Half Of 2008

Apr 28, 2009

Mike Walsten

The average value of Canadian farmland increased 5.6% during the last six months of 2008. That's according to the semi-annual Farm Credit Canada (FCC) Farmland Values Report. This is the third-highest percentage increase since 1997 and is similar to the 5.8% increase noted for the first six months of 2008.

Farmland values rose in every province except Prince Edward Island, which remained unchanged. Saskatchewan experienced the strongest percentage increase at 8.8%, followed by New Brunswick at 6.3% and Quebec with a 5.9% gain. Three provinces reported similar percentage increases: Nova Scotia (4.3%), Manitoba (4.2%), Newfoundland and Labrador (4%). The two western provinces show similar gains. British Columbia was up 2.3% while Alberta reported a 2.2% increase. Ontario values rose 1.9%.

"Even though there have been adjustments to prices in the grains and oilseeds sector, producers remain optimistic about the future of agriculture," says Remi Lemoine, FCC Senior VP Portfolio and Credit Risk. "According to research conducted late last year with our FCC Vision panel, 22% of respondents plan on expanding their operations in the next five years."

FCC is Canada's largest provider of business and financial services to farms and agribusinesses.

If interested in seeing a copy of the LandOwner Newsletter, just drop me an email at landowner@profarmer.com or call me at 800-772-0023.

 

 

Survey: North Dakota Land Values Up 16% In 2008

Apr 23, 2009

Mike Walsten

An acre of North Dakota cropland rose 16% in 2008, states Andrew Swenson, North Dakota State University Extension Service farm management specialist. Based on a survey conducted by the North Dakota Agricultural Statistics Service, Swenson says an average acre of North Dakota cropland was about $925 by the end of 2008 versus a year earlier.

The largest percentage increase in cropland values was in the east-central region at more than 30%. Values rose to an average of $961 an acre. That was followed by a gain of 18% in the southeastern region at $1,362 an acre. The smallest percentage gains, ranging from 5% to 8% were found in the northwest, southwest and south-central regions.

While acknowledging the strong gain for 2008, Swenson believes land values will flatten in 2009 due to much dimmer crop profitability prospects than seen in 2009. However, he says it is too early to predict land values will decline.

I cover more details of the North Dakota survey in the April 24 issue of LandOwner newsletter. If interested in seeing a copy, just drop me an email at landowner@profarmer.com or call me at 800-772-0023.

 

 

Texas Land Values Rise 8% In 2008

Apr 16, 2009

Mike Walsten

An acre of rural Texas land rose 8% in 2008, according to the Texas Real Estate Center (REC), Texas A & M University. That gain, based on more than 6,000 sales transactions reported to the REC, halts the succession of double-digit increases recorded by the state since 2003. The REC said the average value of an acre of rural Texas land reached $2,366 by the end of 2008. While still showing an increase in the value of rural land, the number of real estate transactions fell by 20% in 2008. The REC reported the number of transactions totaled 6,083 in 2008 versus 7,588 in 2007, 8,215 in 2006, 8,368 in 2005, 8,073 in 2004, 7,283 in 2003 and 5,882 in 2003.

I cover more details of the REC's report in the April 14 issue of LandOwner newsletter. If interested in seeing a copy, just drop me an email at landowner@profarmer.com or call me at 800-772-0023.

 

 

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