USDA’s annual crop land values and farm rents survey was released last week; crop land values in 2023 average $5,460 per acre. Farm real estate value was $4,080 per acre - farm real estate includes all buildings (including homes) and other assets (bins, etc.) on a farm. Crop land was up 8.1 percent over last year and real estate value was up 7.1 percent. Crop land values stayed remarkably flat from 2014 – the end of the last period of significant increases – through 2020.
Average crop land values in the Midwest are at historic highs as crop prices are being capitalized into the land values, along with inflationary pressure over the past two years. Kansas, Indiana, and Nebraska all saw the largest percent increase...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
