Farmers National Company: Farmland Sales Have Increased

Farmers National Co. reports an increase in land sales in 2019.  A spokesman for the Nebraska based company said it is seeing an increase in the number of farmland sales by financially stressed producers due to multiple years of reduced income.  Despite the slower land market and cautious buyers, Farmers National Company is experiencing a 29% increase in the number of acres sold by the company compared to last year, and 22% over two years ago.  The company said agricultural land values have been surprisingly resilient over the past two years despite the continuation of depressed farm incomes.

However, concerns are building in the land market primarily surrounding the financial health of farmers and ranchers.  The U.S. farm economy is in its sixth year of a downturn with overall net farm income for 2019 projected to be down 50% from 2013.  Working capital has declined almost 70% since 2012 and inflation-adjusted farm debt is at the highest level since the 1980s.

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