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 [email protected] or call 800-772-0023. Or click here to access the full report.