USDA’s National Ag Statistics Service (NASS) released the 2021 average farm real estate values. The average per acre value of land and buildings on farms across the U.S. was $3,380, up from $3,160 in 2019 and 2020. That is a record value and a 7 percent jump from last year, the biggest percentage increase since 2014. Excluding buildings and assets, crop land values increased 8 percent to $4,420. This is the second highest percentage increase since 2013, when crop land values rose 14 percent. This increase in crop land reflects all the factors that get capitalized into land values: higher crop prices, lower interest rates, and bigger government payments.
Crop Prices, using corn (the largest acreage crop) as a proxy. T...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...