Iowa Appraisal and Research Corp

Iowa Land Auction Prices, May 19-25, 2017

Posted on 05/29/2017 at 08:00 AM by Jim Rothermich

Greetings!  More acres of land were offered at auction this week compared to last week’s results.  533 acres were auctioned, of which 510 acres were tillable.  All farms sold.  The market is still very stable.  One of the auctions I would consider “light” but all in all, the market is stable with very little currently for sale. Here are the highlights:

  • 150 acres sold in Dickinson County- $6,900/acre- 145 tillable acres- CSR2- 79.0
  • 143 acres sold in Butler County- offered in two tracts:
    • 35 acres- $5,300/acre- all tillable- CSR2- 63.0
    • 108 acres- $4,100/acre- 104 tillable acres- CSR2- 56.0
  • 240 acres sold in Hardin County- offered in three tracts:
    • 80 acres- $10,500/acre- 72 tillable acres- CSR2- 92.0 (improved with dwelling)
    • 80 acres- $10,000/acre- 74 tillable acres- CSR2- 91.0
    • 80 acres- $10,500/acre- all tillable- CSR2- 94.0

There is still a very low supply of land for sale currently.   Corn planting in Iowa is basically done, and over half of the soybeans are planted.  Several mid-western states are experiencing poor stands of corn from excessive rainfall and cool weather in late April, and again in mid-May.  I am hearing this could be the second to third highest year ever for replanting corn in states around Iowa. With more rain and cool weather in the extended forecast.   This has the potential to create a weather market and a price rally in corn and soybeans.  The cattle market is up and cattle feeders are regaining their equity loss from 2015. This is good news for Iowa cattlemen.     We will see how these events play out and affect land prices in Iowa.  Keep checking back to stay current on these events.

“That’s my story and I’m sticking to it!”

Jim “the Land Talker”

@theLandTalker
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