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.
Now it's $21,900 an acre for Sioux County, Iowa farmland. Remember that $20,000-an-acre auction in Sioux County about a year ago? Well... never mind. Now it's $21,900 an acre. The parcel, sold today by Rich Vander Werff, Vander Weff & Associates, Inc., Sanborn, was 80.5 acres located a little southwest of Boyden. It featured 79 flat tillable acres and carried a CSR2 of 84.1 and a CSR of 73.7. The county average CSR (not CSR2) is 64.8. (CSR2 is an updated soil evaluation system released recently by Iowa State University. It replaces the old CSR, which has been around since the 1970s. While carrying the same name, CSR2 is not really comparable to CSR. "It's like comparing apples to oranges," one expert tells me. It includes new soil productivity factors developed since CSR's original development. These new factors tell much more about the soil's producitive capability.)
"We had four bidders above $20,000," says Vander Werff. "All were local. There were more than 150 people in attendance."
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People ask if that cash flows. The answer is a yacht does not have to cash flow and either does land.
Just plain stupid is what that is. Unless its commercial development.
What a discouragement for young beginning farmers! Plenty of ammo for land reformers.