Bank Reports Rise In The Value Of Texas Farmland
Aug 26, 2010
The value of Texas crop and ranchland rose during the second quarter of 2010, according to a survey of agricultural bankers conducted by the Federal Reserve Bank of Dallas. The Dallas Fed bank serves all of Texas as well as northern Louisiana and southern New Mexico. Looking specifically at Texas, dryland cropland rose 1.5%, irrigated cropland gained 4.1% and ranchland increased 1.9% versus the first quarter of 2010. For the year, however, Texas dryland cropland is down 3.2% while irrigated cropland is up 6.1% and ranchland is up 9.2%. For the entire district, the Fed bank says dryland cropland is down 2.2% compared to a year earlier but up 1.7% compared to the previous quarter. On irrigated cropland, the district is up 4.2% compared to a year ago and up 2.8% versus the first quarter of 2010. District ranchland values are up 10.8% on an annual basis and up 3% versus the previous quarter.
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