Panhandle agland values steady in 2014 - Scottsbluff Area News, Sports, and Weather

Panhandle agland values steady in 2014

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For the first time since 2010, the average farmland value increase in the panhandle dropped down to single digits.

That means that the land values are still at record highs… but the growth rate has slowed significantly.

Agricultural Economist Jessica Johnson says when commodity prices dropped last fall, farmland values would soon level off. "Now are they going to start to turn down?" questions Johnson. "There would be some adjustment in the market, but we don't expect them to plummet back down. So we're just seeing that leveling, and I think there is some relief that is' not continuing to climb."

Johnson says that cash rental rates for farmland will lag behind the actual land values.

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