Agricultural Land Values Down; California Irrigation Water Issues Getting Heated
The latest report from Creighton University shows 19 straight months of setbacks for U.S. agricultural land values. The report shows an index value of 31.1 this month for farmland values in 10 states ranging from North Dakota to Missouri. This compares to the 39.7 reported last month. The only state that showed signs of land prices increasing was North Dakota at an index of 56.0. All other states showed readings below 50. The survey also put June’s farm equipment-sales index at a record low 12.5, which was down from April’s 15.6, representing a 23rd successive month of decline.
The Associated Press reported last week farmers in at least two California irrigation districts are considering whether to ignore a letter from the state calling for historic cuts in water use during the drought. Attorney Steven Herum, who represents two Central Valley irrigation districts serving farmers, said the option is under consideration because the state is backing off the notices issued this month demanding deep cuts. He told AP the confusion has caused the farmers to consider defying the state to keep their orchards alive.