AgLetter: February 2002
Last Updated: 02/12/02
Increased farmland values in the Seventh Federal Reserve District in the fourth quarter of 2001 continued the pattern observed throughout the year. According to the Chicago Fed’s end-of-fourth-quarter survey of Farmland Values and Credit Conditions, prices for “good” farmland rose, on average, just under 1 percent between October 1, 2001, and January 1, 2002. The 372 agricultural bankers that responded to the survey also indicated that the increase in farmland values, relative to a year ago, slowed to less than a 5 percent rate. This compares with a year-over-year gain of 6 percent in the fourth quarter of 2000.