Farmland values have been resilient and even robust in past several years. However, those prices are entering a new phase as profit margins continue to change. Colton Lacina, the senior vice president of real estate operations for the Farmers National Company, said land values are seeing more influence from local factors.
Lacina said the number of bidders for farmland has dwindled in recent years.
Lacina added that, given the strength in livestock prices- especially for beef- it shouldn’t be a surprise that pasture is in demand.
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