Land values in the U.S. central Plains states of Kansas, Oklahoma, and Nebraska remained steady for the period between April and June at an appreciation rate of less than 1% quarter on quarter, but 6% year on year for both irrigated and non-irrigated land. For irrigated land this is the poorest showing in four years as increased rains lessened the added value of irrigation. Supported by record-high cattle prices, ranchland had the best appreciation, in excess of 2% quarter on quarter and 9% year on year, bucking the seven year trend of lagging behind cropland. In the row crop states of Illinois, Indiana, and Missouri the Federal Reserve’s St. Louis bank recorded declines in value of both pasture and high quality land with ranchland declining 7.4% quarter on quarter and 2.5% year on year, and high quality land values declining 0.4% quarter on quarter and 3.5% year on year. To read further about the drivers of these trends:
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