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Firm farmland market continues

A farm real estate specialist suggests farmland prices will remain steady this year.

Tim Meyer, site leader and realtor with Steffes Group, says the market has been strong to start 2024 despite higher interest rates and some uncertainties in the ag economy.

“The land market is very geographical,” he said. “We are still seeing very significant interest in land. We are still seeing folks that have the capital to invest in land.”

He tells Brownfield he expects fewer buyers moving forward. “I don’t think we’re seeing quite the numbers we saw a year or year and a half ago, but with that being said I haven’t seen much of a drop in price.”

Meyer says a lack of supply is also supporting farmland values, especially for higher quality ground.

AUDIO: Tim Meyer with Steffes Group on the current farmland market

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