Two more Fed bank surveys show farmland values across the northern Plains, Minnesota and Texas were steady to slightly weaker during the second quarter of 2009. That's according to the quarterly surveys of ag bankers conducted by the Federal Reserve Bank of Minneapolis and the Federal Reserve Bank of Dallas. The Minneapolis bank serves Minnesota, Montana, North Dakota, South Dakota, northern Wisconsin and the upper peninsula of Michigan. The Federal Reserve Bank of Dallas serves Texas, northern Louisiana and southern New Mexico.
The Minneapolis Fed said non-irrigated farmland and ranchland declined 2% during the quarter while irrigated cropland held steady. Click here to see the report.
The Dallas Fed said dryland cropland held flat during the second quarter while irrigated cropland slipped 1%. The report also indicted ranchland rose 1.1%. Click here to see the Dallas bank's report.
I will have additional details in an upcoming issue of LandOwner newsletter. If interested in seeing a copy of my newsletter, LandOwner, just drop me an email at [email protected] or call me at 800-772-0023.