Kansas farmland values remain high
06/10/2014 10:56 AM
08/08/2014 10:24 AM
The value of high quality Kansas farmland has generally held in 2014, despite expectations that it would fall as the drought affected farm profitability, according to national farm land broker Farmers National Company.
Irrigated high quality cropland ranged between $3,500 and $6,000 per acre, and non-irrigated land between $2,000 and $4,000.
“Prices are still good for those high quality properties, with reductions being seen on lower quality land,” Brock Thurman, Farmers National area vice president, said in a statement. “Values within the south central region are definitely tied to the specific location and quality of the farmland. Quality land is still selling at record prices, but we aren’t necessarily seeing measurable increases in value overall.”
Farm profitability, in many places boosted by crop insurance, has been important to keeping values strong, said Thurman, who is based in Kiowa. While the drought has been a challenge, so far, high commodity prices have kept farms economically viable.