Farm and ranchland values continue to rise in Texas, but the pace of those gains may be slowing. According to the most recent quarterly survey of ag bankers conducted by the Federal Reserve Bank of Dallas. The survey found the value of Texas farmland rose 2% to 5% annually through the first quarter of 2015. However, the quarterly survey notes some areas of the state report values have eased slightly since Dec. 31, 2014. In addition, the survey of finds lenders generally expect land values to decline during the second quarter.
According to the survey, Texas dryland cropland values rose 5.2% from March 1, 2014 to March 1, 2015. The value of Texas irrigated cropland increased a modest 1.6% while ranchland saw a 3% annual increase.
The district served by the Dallas Fed Bank also includes southern New Mexico and northern Louisiana. When those areas are included in the bank's survey, dryland cropland is up 5.5%, irrigated cropland is up 3.8% and district ranchland is up 3.7%, respectively, on an annual basis.
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