Eastern Iowa Farmer Spring 2021
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Land prices<br />
cultural professionals knowledgeable<br />
of land market conditions, such as<br />
appraisers, farm managers, agricultural<br />
lenders, and actual land sales.<br />
“The rebound in recent months is<br />
due to strong government payments,<br />
interest rate cuts, limited land supply<br />
and recent commodity price rallies,”<br />
Zhang said.<br />
“The land market faced downward<br />
pressure initially with the onset of the<br />
COVID-19 pandemic, which lowered<br />
food demand and resulted in declines<br />
in livestock and ethanol prices,”<br />
Zhang said.<br />
But the negative impact cited by<br />
respondents – COVID-19, weather<br />
uncertainty, political unrest and other<br />
factors – initially had on land value<br />
has been mitigated by other market<br />
forces, experts said.<br />
Prices for corn and soybeans began<br />
increasing in September and continued<br />
to rise.<br />
Respondents expect a slow-butsteady<br />
improvement in corn and<br />
soybean cash crop markets, the report<br />
Alan McNeil,<br />
Peoples Company<br />
said. Respondent<br />
predictions<br />
for the<br />
state average<br />
cash corn prices<br />
in November<br />
<strong>2021</strong> and November<br />
2025<br />
were $3.92<br />
per bushel<br />
and $4.24 per<br />
bushel, respectively.<br />
For<br />
soybeans, they<br />
were $9.97 per<br />
bushel in November <strong>2021</strong> and $10.59<br />
per bushel in November 2025.<br />
“If commodity prices go up, land<br />
is going to go up,” McNeil said, adding<br />
it’s a good place to put money.<br />
“It just feels like land is such a<br />
safe long-term investment,” McNeil<br />
said. “You’re never going to see these<br />
huge valleys and peaks in the market.<br />
That’s the good thing about land. It<br />
doesn’t die hard as an asset class.” n<br />
<strong>Iowa</strong> 2020<br />
Land Values<br />
The <strong>Iowa</strong> State University Land Value Survey is conducted<br />
in November by the ISU Center for Agricultural and Rural<br />
Development (CARD) and the ISU Extension and Outreach.<br />
Results from the statewide survey are consistent with results<br />
by the Federal Reserve Bank of Chicago, the Realtors<br />
Land Institute, and the U.S. Department of Agriculture.<br />
The 2020 results, released in December, reflect the change<br />
in the value of an acre of farmland since 2019.<br />
The figures represent an average of<br />
low-, medium-, and high-quality farmland.<br />
Below are the results from <strong>Eastern</strong> <strong>Iowa</strong> counties:<br />
0.7% Cedar<br />
County:<br />
$8,737/acre<br />
0.9% dubuque<br />
County:<br />
$7,678/acre<br />
3.8% Jones<br />
County:<br />
$7,802/acre<br />
3.9% Clinton<br />
County:<br />
$7,758/acre<br />
4.9% Jackson<br />
County:<br />
$7,056/acre<br />
1.7% state<br />
average:<br />
$7,559/acre<br />
our<br />
strong<br />
team<br />
will keep your herd healthy<br />
Yeah, we have fun...<br />
but we are serious<br />
about your animals<br />
and your success!<br />
Whether they are your<br />
livelihood or your<br />
best friend, animals<br />
are our business.<br />
We specialize in<br />
beef and dairy herd<br />
health, consultation<br />
and surgery.<br />
Dr. chris rock<br />
Dr. Luke ThoLe<br />
Dr. Joe JeDLicka<br />
Dr. Tom Lapke<br />
And, we take<br />
it seriously!<br />
Rolling Hills VeteRinaRy seRVice<br />
cascaDe: 1103 1st Ave E. • 563-852-3237 LamoTTe: 113 S. Main St. • 563-773-2771<br />
100 <strong>Eastern</strong> <strong>Iowa</strong> <strong>Farmer</strong> | <strong>Spring</strong> <strong>2021</strong> eifarmer.com
Change language