Many producers are ending the year in good financial shape, which is evident through farmland prices, but economists warn several high-dollar auctions do not paint the whole picture.
“We saw assets and equities rise in 2022 and even some declines in debt, really modest declines in debt, but some declines in debt. I think it does tell you that for some producers in some sectors, it’s been a good year. Cash is on hand, asset values are increasing, and I think that has provided a few land price pressures,” said USDA Chief Economist, Seth Meyer.
Just recently the Fed in Chicago reported Midwest farmland values jumping by 20 percent in the third quarter, marking 11 straight months on the rise.
