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Ag News
Farmland Values Continue Slump
Published Monday, November 30, 2009 at 05:11 AM
According to the Federal Reserve report, there will be no turn-around in the downward trend for district land values. More of the responding bankers expected farmland values to slide rather than gain during the fourth quarter of 2009, through 69 percent expected stable values. 27 percent anticipated decreases and only 4 percent expect increased values.
The letter states, agricultural credit conditions in the third quarter were weaker than a year ago. Loan payment rates declined compared with the July through September period of 2008, whereas loan renewals and extensions rose. Farm operating and real estate loan interest rates were a bit lower. The banks’ loan-to-deposit rations averaged 75.3 percent, the lowest level in over a year.
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