The annual Iowa State University farmland survey finds value of an acre of Iowa farmland dropped three-point-nine percent compared to last year. Iowa State University extension economist Wendong Zhang says the means the average acre of land is worth 310 dollars less….
*
He says it is the first two-year drop in land values since 2000, and values have now fallen almost 13 percent from the historically high 2013 values.
*
He says the decline is lower because of the previous years of higher commodity prices….
*
In Sioux County there is one recent sale for almost 18-thousand dollars (an acre) by a neighboring farmer. So, many farmers still have cash on hand.” Zhang says just one are of the state didn’t see their values drop, the northwest district is the only one that reported an increase, due to high livestock prices. And the north-central district saw the highest percentage decrease of six-point-seven percent.
