The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Mike Walsten has covered major business trends in agriculture for more than 40 years.
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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