The value of good Missouri cropland and pastureland declined 5.5% and 1.4%, respectively, for the year ending in July, according to a survey conducted by the University of Missouri Extension. The annual survey found the estimated average value of good cropland fell from $2,952 an acre in July 2008 to $2,788 an acre in July 2009, or $164 per acre. Good pastureland slipped only marginally from $2,050 an acre in 2008 to $2,021 an acre in 2009.
The survey found most respondents expect farmland values will continue to decrease for the next 12 months, but at a slower rate than last year. On average, they expect the value of cropland to decline by 1.6%, with pasture to decrease by 2.9%. Click here to check out the complete survey report.
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