News

Land values in Fed’s K.C. District generally steady

Farmland values in the Federal Reserve’s seven-state Tenth District—the Kansas City district– generally held steady in the fourth quarter of 2014 despite further declines in farm income.

However, most bankers participating in the district’s quarterly survey of agricultural credit conditions said they expect cropland values to fall in 2015 alongside reduced expectations for farm income. Half of the survey respondents said they expect a decline of up to ten percent.

The Tenth District survey shows cropland values in Nebraska, both irrigated and non-irrigated, fell more than three percent in the fourth quarter of last year. However, ranchland values increased 12 percent in that same three-month period.

Cropland values in western Missouri declined one percent in the fourth quarter, while pasture land increased nearly five percent.

The Fed’s Tenth District covers includes Nebraska, Kansas, western Missouri, Colorado, Oklahoma, New Mexico and Wyoming.

Link to report