Bob Swires, President of the Illinois Society of Professional Farm Managers and Rural Appraisers, presented the association’s mid-year survey Friday at the 17th annual International Farm Management Congress Friday. Here are the findings for the first half of 2009:
1. Illinois Society members indicated that land values fell slightly during the first half of 2009. For excellent quality farmland, land prices declined by $171 per acre, or 2.3%. For fair quality farmland, the decline was $225 per acre, or 5.4%.
2. On July 1, 2009, farmland prices averaged $7,200 for excellent quality farmland, $6,300 for good quality farmland, $4,900 for average quality farmland, and $4,000 for fair quality farmland.
3. Volume of sales declined during the first half of 2009 compared to the first half of 2008. Eighty-eight percent of respondents indicated that volume of sales were less during the first half of 2009.
4. Fifty-six percent of the respondents expected sales to be less during the last half of 2009 as compared to the last half of 2008.
5. Half of the survey respondents expected declines in farmland prices over the next twelve months. Thirty-two percent expected stable prices.
6. Interest rates are expected to increase by 53% of survey respondents over the next year. Forty-seven percent expect stable interest rates. No respondents expect declines in interest rate
Read More


MEDIA ALERT!
Amin Ismail Abdou of the
John Hewlett of the
It’s not only the
In the wake of headlined disease outbreaks in livestock, such as the H1N1 virus and Avian flu among several others, Dr. Ann Wilkinson, associate director of Global Alliances for
As delegates from over 26 countries convene in central Illinois this week for the
Attendees of the