Iowa Land Auction Prices, May 5-11, 2017

Greetings!  Significantly fewer acres of land were offered at auction this week compared to last week’s results.  199 acres were auctioned, of which 116 were tillable.  All farms sold. Here are the highlights:

• 65 acres sold in Madison County- $7,500/acre- development land
• 134 acres sold in Marion County- $6,100/acre- 116 tillable acres- CSR2- 82.0 (Skunk River Bottom)

There is minimal activity currently with land auctions.  Very few auctions are scheduled within the next 30 days.  Demand for land is very strong.   Low supply for sale and strong demand to buy should equate to good prices on upcoming auctions. 

Good news about beef prices.  Beef prices have rallied the past couple of weeks and cattle feeders are seeing very good margins.  Why?  China is going to start buying American beef.  This is having a huge impact on beef demand.  American cattlemen have not been able to access that market since the mad cow disease outbreak that happened 13 years ago.  This is very good news for American cattlemen.  

“That’s my story and I’m sticking to it!”  Please check back next week to see what the Iowa land market is doing.

Jim “the Land Talker”

@theLandTalker
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