15-08-2014 05:31 AM | USA

US farmland prices stable in Q2

U.S. cropland prices in the central Plains and southern Midwest were stable in the second quarter of 2014 compared with the previous quarter even though farm income was lower due to falling crop prices, according to Federal Reserve Bank quarterly surveys issued on Thursday.

"Despite continued strength in the livestock sector, district farm income remained well below year-ago levels due to falling crop prices and poor winter wheat yields. Cropland values generally held at high levels while strong demand for high-quality pasture pushed ranchland values higher,'' the Kansas City Fed said in its quarterly survey of 218 farm lenders in the central and southern Plains states.
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