(NAFB) The U.S. Department of Agriculture recently released its annual report on farmland in America, which showed a loss of nearly two million acres of farmland over the last year. Eric Sarff is the President of Murray Wise and Associates, an Illinois-based farmland broker and auction house that oversees transactions nationally. He says there are several reasons why farmland acres are declining.
This isn’t a recent phenomenon either. Since 2000, USDA data show the loss of 50 million acres across the country. This works out to losing 4.3 acres of farmland every minute of every day. Sarff said this shrinking supply of farmable acres, combined with ever increasing demand for food, is very beneficial to landowners who are seeing values climb. He talks about what the farmland market looked like historically and today.
He talks about the deals they’re seeing this year.
Murray Wise recently released a detailed land review report, which looks at recent farm sales in Illinois and Iowa. Those reports are available at MurrayWiseAssociates.com, and Sarff said the feedback has been great so far.
Learn more about farmland values at farmlandpartners.com.
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Audio with Eric Sarff, president of Murray Wise and Associates
Submitted by Chad Smith on Tue, 04/04/2023 – 09:36
America Loses Two Million Acres of Farmland in 2022
Audio provided as a service to farm broadcasters by Farmland Partners
Audio with Eric Sarff, president of Murray Wise and Associates
