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End of year numbers reveal Iowa farm land values hit near 80 year high

Published: Dec. 28, 2021 at 8:54 AM CST
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EAU CLAIRE, Wis. (WEAU) -The U.S. Supreme Court is apparently showing some interest in getting involved in the thousands of lawsuits against Bayer Ag over Roundup herbicide. Bloomberg is reporting that the Justices have asked the Biden Administration for advice on whether to hear the company’s appeal in a potential multi-billion dollar case. Bayer is claiming that the federal approval of Roundup exempts the company from liability in those lawsuits. This past July Bayer Ag said a Supreme Court ruling in its favor would effectively end all Roundup lawsuits.

The traditional Chinese diet has always included lots of rice, pork, soy and seafood but over the past few years the Chinese have been including much more dairy in their diets. That’s in part because the Chinese government has promoted dairy as a way to improve health and boost immunity to Coivid-19. And it’s working. Chinese milk production is up 7% this year with consumption up 18%. That means they need to increase dairy product imports. In November their purchases of whole milk powder were up 45% from last year and trade watchers say they expect Chinese dairy imports to remain strong in 2022.

If you want go farming in Iowa, you’d better have a fat check book. New numbers at the end of the year show farm land values in the Hawkeye state went up 29% in 2021. The value of an acre of Iowa farm ground is the highest it’s been since they started charting the figures back in 1941. But when adjusted for inflation those prices are still lower than in 2012 and 2013. The average acre of farm land in Iowa is now $9,751 an acre—up almost 22 hundred dollars from 2020. The most expensive farm land in Iowa is in Scott County where it now averages $13,852. Decatur County has the cheapest land but it still averages $5,062 an acre.

A veteran U.S. Senator says he wants an 8th 6 year term. Republican Iowa Senator Charles Grassley says he is going to run again in 2022 for the office he first won back in 1980. Grassley comes from an Iowa farm family and has been a major voice for farmers during his years in the Senate, especially the ethanol industry. Grassley will be 89 years old when we get to next fall’s election, making him the second oldest member of the U.S. Senate.

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