The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
Creighton University produces a Rural Main Street Index based upon a survey of rural bankers in six states, Colorado, Iowa, Minnesota, Nebraska, South Dakota and Wyoming. The index ranges from 0 to 100. Anything over 50 is considered in an expansion mode.
For January, the index rose to 59.8 from 59.7 in December which is the highest it has been since June 2007.
Here are some other trends from the survey:
After rising to a record level of 84.1 in December, the farmland price index fell almost 12% to 74.3 in January, 2012. A recap by state is as follows:
These are healthy drops in the index, however, this drop is based on only one month of data and December can very very skewed with certain sales happening for tax purposes. It will be interesting to see what the index numbers for February are.
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