AgLetter: February 2009
Farmland values declined in the fourth quarter of 2008 for the Seventh Federal Reserve District—the first quarterly decrease in a decade. There was still an annual increase of 5 percent in the value of “good” agricultural land for 2008, based on 209 surveys completed by District agricultural bankers. Few respondents expected farmland values to rise in the first quarter of 2009, but 35 percent expected them to fall in their respective areas.
