Farmland market 6 month outlook steady to firmer
A farm real estate specialist expects farmland values to be steady to firmer the next six months.
Randy Dickhut with Farmers National Company tells Brownfield one indicator is the amount of land on the market.
“Right now we’re pretty much the normal winter land auction and sales season volume, so there’s good activity. A nice amount of land that’s coming up for sale, but it’s not overboard or anything. So it’s not excess.”
He says that’s supportive to prices, and so is good demand.
“Most places (the auctions) we’ve had, especially for good quality crop land, have been strong (and) surpassed what they thought prices might be. So that trend so far this year has continued of some rising strong land prices.”
Dickhut says a recent farm sale in western Indiana fetched $16,600 an acre and quality ground in east-central Illinois sold for $19,700 per acre.
He suggests if supply stays moderate and demand remains strong, the farmland market will be well supported throughout 2022.