As we've written in LandOwner and here, the Federal Reserve Bank of Kansas City now confirms. In it's latest update of agricultural credit conditions across it's service district, the bank says cropland value strengthened in the fourth quarter of 2009 with rising farm income. The survey of 241 bankers reported that stronger farm incomes due to a harvest rise in crop prices and above-average yields underpinned a rise in nonirrigated and irrigated cropland values. In contrast, anemic profits in the livestock sector placed downward pressure on ranchland values.
The Kansas City Fed Bank serves bankers in Kansas, Nebraska, northwestern Missouri, Oklahoma and the mountain states of Colorado, northern New Mexico and Wyoming.
The survey indicates non-irrigated cropland in Kansas finished 2009 3.1% higher than 2008; Missouri up 3.5%; Nebraska up 1.2%; Oklahoma up 3.8% and the Mountain States down 1.3%. Ranchland values, however, fell 7.3% in Kansas, 2.6% in Missouri, 1.7% in Nebraska and 2.7% in the Mountain States.
Click here for the full report. We will have more details in our February 25 issue LandOwner Newsletter.
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