Midwestern farmland values holding up in recession
The March 1 edition of NorthWestern Financial Review includes an ag-industry outlook featuring analysis from Prof. Ernie Goss of Creighton University, Jeff Wolfgram of Dakota MAC and Dave Cebulla of UMACC and Pine Country Bank. One indication of relative stability in the ag economy is that Midwestern farmland values have held up pretty well through the recession; Goss and Wolfgram both emphasize this point in our story.
Last week the Chicago Fed released new figures on seventh district farmland values. The district as a whole posted a 2 percent increase for 2009, driven by gains of 7 percent in Indiana, 4 percent in Iowa and 2 percent in Illinois. Wisconsin farmland values fell by 1 percent, and Michigan values declined by 6 percent.
