AgLetter: August 2000
Last Updated: 08/16/00
A survey of more than 330 agricultural bankers in the five Seventh District states indicated that gains in farmland values slowed in the most recent quarter from those reported for the previous two quarters. An increase of less than 1% in the second quarter (April 1-July 1), compared with a 2% gain in the first quarter, represented the lowest rate of increase since the third quarter of 1999. On a year-over-year basis, farmland values were reported up 5% from the July 1,1999, survey. This was the largest year-to-year increase since an 8% gain reported in the second quarter of 1998.