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Oct. 23, 2024Jefferson City, Mo. |  By: Jeremy Werner

MO farmland prices appear to be stabilizing

farmland

JEFFERSON CITY, Mo. - After years of rising farmland prices in Missouri, the market may be stabilizing, according to the latest Missouri Farmland Values Opinion Survey.

Conducted by the University of Missouri Extension, the survey collected over 260 responses from farmers, lenders, and land experts. While overall farmland values are still increasing, growth has slowed compared to previous years.

Key findings show that "good" non-irrigated cropland averages $8,524 per acre, with "good" pastureland valued at $5,687 per acre. Timberland and recreational land values vary, with the highest prices seen in urban areas.

Retired farmers and estate sales are the primary sellers, often taking advantage of strong market prices.

Looking ahead, experts predict small increases in land values for 2025, but interest rates and commodity prices remain influential factors.