More about Iowa farmland values

The latest report on Iowa farmland values shows a market in flux, with strong and weak price sales occurring at the same time.  Overall the price of an average acre of Iowa farmland was $8,716 in 2012.

Winneshiek County Extension Agronomis Brian Hanson says local farmers would welcome some leveling off in land prices.  Farmers, especially livestock farmers, have been reporting lower profits because of lower grain prices, but at the same time have been paying high production expenses, producing $5 to $6 per bushel of corn now with a market value of $4 per bushel.

Notes Hanson, "Fertilizer prices have declined a little, but not seed or chemical prices.  Land prices need to retreat some."

Hanson say those feeding corn and soybeans to livestock are finally getting a reprieve on purchased feed costs, which recently have been around $6 per bushel of corn.