KANSAS CITY, MO (RFD NEWS) — Ranchland values climbed sharply in the Tenth Federal Reserve District as strong cattle prices continued to support parts of the farm economy.
The Kansas City Federal Reserve says ranchland values rose nearly 11 percent from a year ago, reaching new record highs in early 2026.
Cropland values also improved modestly after recent weakness. Non-irrigated cropland rose about 2.5 percent, while irrigated cropland increased about 4 percent and remained near historic highs.
The farm economy remains split.
The Kansas City Federal Reserve says cattle revenues, government payments, and strong land values are supporting balance sheets, while crop producers still face narrow margins, fertilizer uncertainty, and fuel cost concerns.
Credit conditions continue to show gradual stress. Loan demand increased steadily, repayment rates weakened modestly, and lenders reported that about 20 percent of borrowers had more carryover debt than last year.
Even so, loan denials remained low, and strong farmland values helped keep leverage steady.
Farm-Level Takeaway: Strong cattle markets are lifting ranchland values, but crop-sector margins and carryover debt still point to financial pressure.
Tony St. James, RFD News Markets Specialist
The inverted Choice-Select spread is not a strong warning sign in today’s tighter, higher-quality beef market, according to new analysis from Terrain.
Based on USDA data compiled by the U.S. Meat Export Federation, pork exports increased by six percent in March compared to the previous year, while beef exports weakened overall.
Genevieve Collins from Americans for Prosperity discusses rising Texas property taxes, potential relief, and impacts on farmers, ranchers, and rural communities.
Autumn Lankford Higgins with the Farm Bureau joins us to discuss data center expansion on farmland, rural policy considerations, and the role of agriculture in emerging digital infrastructure.
RealAg Radio’s Shaun Haney joins us to discuss geopolitical trade tensions, energy market volatility, and what global shifts could mean for U.S. agriculture exports.
New data from the Illinois Farm Bureau show that farm financial conditions are stabilizing, even as debt per acre and borrowing costs continue to climb.
