Land sales slowed like usual in the northern and southern plains states as farmers and ranchers turned full attention to spring and summer activities. Covid-19 issues impacted both listing volume and buying activity over the past several months as the land market weighed the influencing factors. Sales activity during this time of year is always slow, but it was slower than normal which is understandable with all that is happening in the world and in agriculture.
Our late spring land auctions were successful at or slightly above market values as there was good competitive bidding. Grazing land sales were softer due to the drop in cattle markets commented Paul Schadegg, area sales manager for Farmers National Company in the southern plains. According to Brian Mohr, area sales manager in the northern plains, good tillable land continued to sell well at a price comparable to or slightly below last year. Grass and pasture land were softer than cropland.
Farmers National Company is pleased with the continued interest from both sellers wanting to market their land in the next six months along with buyers inquiring about what is currently for sale and what is expected to come on the market in the near future. We look for activity to pick up come late summer as more information is available, crops are nearing harvest, and hopefully there are no more interruptions in supply chains. Both investor and farmer buyers will have a better picture of the ag market later in the year.