Greetings!  Land auctions were a little more active this week.   There was a total of 2,960 acres offered at auction, of those acres, there were 2,420 tillable acres.  I would describe the auctions results as “showing just a little weakness on a couple of tracts but for the most part stable”.  There were three “no sales” with the farms still being for sale.  On $/tillable CSR2 point, a little under half the sales had a $/tillable CSR2 point below $100/tillable CSR2 point.  A few of the highlights from last week:

• 76 acres sold in Audubon County for $5,450/acre - CSR/CSR2 56/63
• 57 acres sold in Jefferson County for $5,000/acre - CSR/CSR2 60/64
• 108 acres sold in Cedar County for $9,100/acre - CSR/CSR2 78/79
• 159 acres sold in Cherokee County in five tracts 
  • Tracts 1 & 2 were site tracts
  • Tract 3 - 29 acres for $7,150/acre - CSR/CSR2 66/90
  • Tract 4 - 34 acres for $2,700/acre (pasture)
  •  Tract 5 - 81 acres for $2,600/acre (pasture)
• 80 acres sold in Plymouth County for $12,300/acre - CSR/CSR2 59/82
• 117 acres sold in Carroll County for $7,000/acre - CSR/CSR2 70/73
• 64 acres sold in Des Moines County for $8,350/acre - CSR/CSR2 69/76
• 40 acres sold in Butler County for $9,000/acre - CSR/CSR2 78/87
• 284 acres sold in Des Moines County in three tracts
  • Tracts 1 & 2- 128 acres for $3,100/acre - CSR/CSR2 69/66
  • Tract 3 - 77 acres for $4,800/acre - CSR/CSR2 69/65
  • Tract 4 - 79 acres for $5,750/acre - CSR/CSR2 73/65
• 170 acres sold in Taylor County for $4,050/acre - CSR/CSR2 53/58 (all tillable land was in CRP)
• 641 acres sold in Jasper County in six tracts
  • Tract 1 - 67 acres for $9,025/acre - CSR/CSR2 79/84
  • Tract 2 - 138 acres for $9,300/acre - CSR/CSR2 80/85
  • Tract 3 - 237 acres for $9,200/acre - CSR/CSR2 75/81
  • Tract 4 - 80 acres for $6,000/acre - CSR/CSR2 63/68
  • Tract 5 - 60 acres for $6,500/acre - CSR/CSR2 74/69
  • Tract 6 - 60 acres for $5,600/acre - CSR/CSR2 77/72
• 185 acres sold in Lee County in three tracts
  • Tract 1 - 70 acres for $4,300/acre - CSR/CSR2 47/54
  • Tract 2 - 40 acres for $4,025/acre - CSR/CSR2 33/37
  • Tract 3 - 72 acres for $3,100/acre - CSR/CSR2 37/34 (all tillable land was in CRP)

The two sales that were in CRP sold really well.  Visited with several realtors last week and all said auction activity is really picking up.  All realtors I’ve talked to were very happy with the auction prices.  Most of the buyers were farmers.  There is still a little over 1 farm per county in Iowa for sale that is north of 85% tillable.  This fact alone is keeping the market stable.  Harvest is getting started throughout the state, but the flooding in the northeast part of the state will play a factor in getting in the field up there.

Check back next week for continued conversation on the auctions we’re seeing from around the state, and be sure to take a look at our August auction results that we just release last week.  Please make sure and hit the “like” button on Facebook and follow us on Twitter @PeoplesCompany and @TheLandTalker.

“That is my story & I’m sticking to it”.  

Thanks, Jim “the Land Talker”