News

Land and equipment prices steady to begin ‘24

A farm real estate specialist suggests farmland and ag equipment prices aren’t slowing down.

Tim Meyer is a site leader and realtor with Steffes Group. “We’ve seen a few more investors buying ground than we have farmers for the first time in quite a while.”

He tells Brownfield the availability of equipment hasn’t been a concern. “From a price standpoint, machinery is relatively strong, it’s going to stay that way through the spring.”

The latest Rural Mainstreet Index, a monthly survey of rural bankers in the Midwest, indicated higher borrowing costs and tighter credit conditions have had a negative impact on the purchases of farm equipment.