The Farmland Price index is a monthly index value done by Creighton University and it is number from 0 to 100 and is based up surveys of rural banks in agriculture areas including Kansas. The states in the Farmland Price Index include Colorado, Illinois, Iowa, Kansas, Minnesota, Nebraska, North Dakota, South Dakota and Wyoming.

The overall reading is now 75.9 which is up again and has been going up for the last 13 months. A number greater than 50 is indication that land prices are going up.

Recent Farmland Price Index for Kansas values

Dec 2010  78.8

Jan 2011  77.3

Feb 2011  78.2

As we have been previously reporting December 2010 posted a large uptick in high auction sales and an unusually higher number of sales some of which can be attritubed to farmers wanting to complete farm operation sales by the end of the year.  Weather has some affect on land sales and the real estate market and January was a particularly cold and snowy month for most of Kansas.  Sales are few and so sold prices are based upon relatively few sales.  High quality farmland is getting the most tracting on auction prices when it is available but pasture and ranchland prices in Kansas are still very slow and growth neutral with no huge appreciation numbers on grassland acres for sale.

 

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