And the Survey Says…

Regional bankers in Nebraska, Wyoming, Colorado, Kansas, Oklahoma and Missouri took part in a survey that shows farm values have decreased, but are steady.
Compared to the last quarter in 2008, non-irrigated farmland in Nebraska dropped 4.8 percent and irrigated fell 4.7 percent. Ranch land dropped 5.3 percent.
Overall, regionally non-irrigated farmland dropped 1.7 percent and irrigated 3 percent. Ranch land has fallen by 4.2 percent.
Experts believe these numbers will stay consistent over the next three months.
One major contributing factor to the decrease is that farm incomes quickly changed from record heights to below $50,000 annually. This is the lowest it has been since 2003.
Looking to refinance your farm loan before inflation hits? Farm Loan interest rates starting at 2.93% and terms up to 25 years. See our rate sheet or call 866-929-5585 to speak with a representative.