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Upper Midwest Land Values

Last month, in its third-quarter 2016 Agricultural Credit Conditions Survey, the Federal Reserve Bank of Minneapolis indicated that, “Following a trend from recent quarterly surveys, land prices and cash rents retreated from historic highs. The average value for nonirrigated cropland in the district fell by more than 3 percent from a year earlier, according to survey respondents. Irrigated land values fell 1 percent, while ranch- and pastureland values fell 5 percent, perhaps reflecting the more recent downturn in livestock prices.”  The Fed report also pointed out that, “Declining land prices were widespread across the region, with the exception of Montana where nonirrigated cropland prices increased 2 percent from a year earlier.

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Farm Policy News
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