(Podcast) Episode 024: Agricultural Land Values in the northern U.S.

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Anton chats with Kate Fuller, an assistant professor of economics and extension specialist at Montana State University, about what has recently been happening to agricultural land values. Kate also dives deeper into the topic by discussing agricultural economics research and her own findings about factors outside of agriculture that can be important drivers for agricultural land values. For more information about agricultural land lease values (mentioned in the podcast), visit http://www.msuextension.org/aglease

For this podcast, we’ve also included a video that presents charts and figures associated with the discussion. You can view the video below.

Highlights:

3:25  What are the typical questions that are being asked about land values?

5:35  What has been happening to current agricultural land value and lease rates in Montana and other regions.

10:45  How do broader economic factors affect agricultural land values?

11:35  What about real-estate values, which capture a broader characterization of farm assets? What impacts those?

12:10  Does proximity to urban areas affect agricultural values?

13:50  To what extent do these “other factors” impact agricultural land values in Montana? 

15:20 . What exactly is the economic explanation for why agricultural land values are impacted by population in urban areas?

17:00. What might we see with agricultural land values going forward?

 

(Intro and outro music by Trevor Sensor)

(Photo by Unhindered by Talent is licensed under CC BY 4.0)

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About Author

Dr. Anton Bekkerman is an associate professor in the Department of Agricultural Economics and Economics at Montana State University, joining the faculty in 2009 after completing his PhD at North Carolina State University. Bekkerman's primary areas of research are grain marketing, basis and price forecast modeling, understanding how grain prices are affected by changes in supply chain infrastructures and quality demands, and analyzing the economic trade-offs of adopting alternative dryland cropping systems in Montana. One of his current projects is an investigation of how new grain loading technologies are affecting prices that Montana farmers receive for their wheat. Bekkerman is also examining the economic impacts that Montana's rapidly expanding dry pulse industry will have on the state's crop industry. Although Bekkerman grew up on the east coast, he has recently made a small step toward production agricultural after acquiring three backyard chickens.

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